Brits missing out on billions in bill discounts

30 November -0001

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Britons are losing out on £1.1 billion a year by failing to pay for their key household and individual bills by Direct Debit.

New research from BACS Payment Schemes Limited, the company behind the Direct Debit service in the UK, reveals one in 13 people (eight per cent of the UK) are not making the most of Direct Debit discounts - and are spending millions unnecessarily.

In total, the nation spends £27.4 billion per year on these utility bills - that’s an average of £2,050 per household but those paying by cheque fork out £2,515 on average for these bills. However, bill payers could save a maximum of £187 per household if they use Direct Debit to pay for these charges.

The biggest savings to be made are on gas and electricity bills - with the maximum discount available for gas coming to £65, closely followed by electricity, with the highest reduction totalling £40.

Michael Chambers, Managing Director BACS Payment Schemes Limited, said:

"Direct Debits continue to grow in popularity yet millions of people are still not taking advantage of the many benefits available. In addition to being easy to set up and hassle free Direct Debit payments can also save you money through the discounts on offer."

"However perhaps one of the greatest advantages it has over other payment methods is it gives customers complete peace of mind as they are protected by the Direct Debit Guarantee."

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