Brits miss out on billions in bill discounts
BRITONS are losing out on discounts worth £1.1bn a year by failing to pay for their key household and individual bills by Direct Debit.
New research from Bacs Payment Schemes, the company behind the Direct Debit service in the UK, reveals one in 13 people (8% of the UK) are not making the most of Direct Debit discounts - and are spending millions unnecessarily.
In total, the nation spends £27.4bn per year on these utility bills - that's an average of £2,050 per household but those paying bycheque 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.
'Direct Debits continue to grow in popularity yet millions of people are still not taking advantage of the many benefits available,' said Michael Chambers managing director of Bacs. '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.'
