ESB deposit

flogen · 07-01-2010 10:50pm #1

I'm going to be setting up an ESB account in the next few days and was told I'll either set up a direct debit or give them a €300 deposit.

I really want to avoid DDs but at the same time - with all the other expenses we have with moving in somewhere new - we could do without losing €300 outright, not to be seen again for 14 months.

I'm wondering - in vain I guess - if I have any options at all or if I have to go with one or the other unpalatable option.

Someone has suggested I could go with the DD until the 1st payment is taken and then after that cancel it as a way to avoid the deposit but I'm sceptical as to that working or not.. I'd imagine they'll be straight onto me to look for the deposit once I do.

Anyone tried this or know if I've any options?

faceman · 07-01-2010 10:53pm

Whats your aversion to paying ESB by DD?

smiley girl · 07-01-2010 10:59pm

flogen wrote: »

Someone has suggested I could go with the DD until the 1st payment is taken and then after that cancel it as a way to avoid the deposit but I'm sceptical as to that working or not.. I'd imagine they'll be straight onto me to look for the deposit once I do.

When I was renting an apartment 3 years ago I set the DD up, then I decided that I wanted to cancel it and pay through the post office. But when I rang the ESB they told me I would have to pay the deposit as I hadn't been on that account long enough.
So I'd imagine this would be the case for you.

Neonjack · 07-01-2010 11:01pm

flogen wrote: »

Someone has suggested I could go with the DD until the 1st payment is taken and then after that cancel it as a way to avoid the deposit but I'm sceptical as to that working or not.. I'd imagine they'll be straight onto me to look for the deposit once I do.

You're right. They will. But by then your account is up and running, so the 300 is added to your bill, which you can pay off weekly with the easy-pay card. It worked for me. Just ignore their angry letters for a couple of months.

flogen · 07-01-2010 11:43pm

faceman wrote: »

Whats your aversion to paying ESB by DD?

I don't like the lack of control that comes with a DD, particularly regarding the timing. At least if a bill comes and my wages aren't coming for 3 days I can hang on, with a DD they come looking for it when they want it and that's that.

Neonjack wrote: »

You're right. They will. But by then your account is up and running, so the 300 is added to your bill, which you can pay off weekly with the easy-pay card. It worked for me. Just ignore their angry letters for a couple of months.

So they'll add the €300 to the bill and it's up to me to clear it as quickly as possible?

I suppose there's the option of staying with a DD until I have the €300 to spare and then cancelling - that way I can avoid the angry letters but also not put myself under any immediate pressure.

Neonjack · 07-01-2010 11:45pm

flogen wrote: »

So they'll add the €300 to the bill and it's up to me to clear it as quickly as possible?

Yes. You'll need to have it paid before your next bill arrives, but that gives you 2 months breathing space. that's how it worked for me at least.

Davy · 07-01-2010 11:53pm

Partner or anything that has an account with esb that you could put it in their name?

All utilities do this now, bord gáis charge €400 for non DD payment.

flogen · 07-01-2010 11:59pm

Davy wrote: »

Partner or anything that has an account with esb that you could put it in their name?

All utilities do this now, bord gáis charge €400 for non DD payment.

No - both of us in the same boat, namely new customers.

Neonjack · 08-01-2010 12:06am

P.S. - When you're closing your account, make sure you ask them to come and read the meter rather than letting them estimate it. Any difference will come out of your deposit.

Davy · 08-01-2010 12:06am

flogen wrote: »

No - both of us in the same boat, namely new customers.

Afraid your out of options then. With direct debit, when the bill does issue, the money is not taken from your account for 14 days, if thats any consultation to you.

flogen · 08-01-2010 12:19am

Neonjack wrote: »

P.S. - When you're closing your account, make sure you ask them to come and read the meter rather than letting them estimate it. Any difference will come out of your deposit.

Thanks - will certainly remember that.

Davy wrote: »

Afraid your out of options then. With direct debit, when the bill does issue, the money is not taken from your account for 14 days, if thats any consultation to you.

That is some consolation - thanks.

Blacey · 08-01-2010 1:43pm

Hi, can you tell me where on the esb website you found the details of the deposit? I've been trying to find details and can't find anything!

faceman · 08-01-2010 2:14pm

flogen wrote: »

I don't like the lack of control that comes with a DD, particularly regarding the timing. At least if a bill comes and my wages aren't coming for 3 days I can hang on, with a DD they come looking for it when they want it and that's that.

Why dont you agree to the date it comes out of your account with ESB in advance? You are free to cancel the DD with the bank if there are issues. Esb tend to be the more reliable of the utility companies when it comes to invoices and DD.

Victor · 08-01-2010 3:15pm

Of course, if you cut off the DD, there is the risk that they cut off your electricity.

axer · 11-01-2010 10:30pm

The ESB included a sheet that said they offer a Direct Debit guarentee type of thing that they say means that if you have any issue at all with a bill you can instantly suspend the money being taken out of your bank account until the issue is cleared up. I think the ESB are one of the better ones for doing direct debit with.

Neeni · 05-02-2010 11:48pm

I suggest going with the DD option but maybe paying weekly amount using ESB's online laser option - that way when your bill issues, they will only collect the balance (if there still is one) from your bank account so that gives you a bit more control over it.

All the utility companies are looking for deposits now - some even more than the 300 but at least ESB are reliable, they are fairly customer friendly and won't make a big deal about amending estimated bills like some of their so-called competitiors.

stepbar · 06-02-2010 12:02am

I can't ever remember a time when the ESB looked for me to setup a Direct Debit with them (I've been paying the ESB in my household since 2006). Then again I always pay in time. Now that being said, my bro pays the Bord Gais bill and they insisted on a D/D from the start. I'm not sure why I'm not on D/D....

She Devil · 06-02-2010 10:52pm

You do have options, you can get someone to go guarantor for you : Someone that has ESB history or a SW bond if you are receiving sw payments.

07-02-2010 3:58pm

Blacey wrote: »

Hi, can you tell me where on the esb website you found the details of the deposit? I've been trying to find details and can't find anything!

I moved into a flat in September 2008 and the deposit was mentioned on the welcome letter I received after my account was set up.

py2006 · 07-02-2010 6:14pm

Sorry to jump in on this:
I moved into an apartment recently with somebody, we shared the deposit. However, the other person hasn't paid bills on time and not always in full. Does this mean that the deposit is now void?

Fnergg · 08-02-2010 12:53pm

py2006 wrote: »

Sorry to jump in on this:
I moved into an apartment recently with somebody, we shared the deposit. However, the other person hasn't paid bills on time and not always in full. Does this mean that the deposit is now void?

You may not get the deposit back after 14 months if the bills aren't paid on time- the period for holding it could be extended for another 14 months. However, you will get the deposit back (as a credit to the account) eventually - it isn't void in that sense.

The best advice regarding DD or Deposit is from Neeni above: opt for DD and then pay weekly towards your next bill by Laser using ESB's Laser option (see www.esb.ie). When the bill issues there will only be a small balance on it or it could even be in credit.

Regards,

Fnergg

tHE vAGGABOND · 08-02-2010 2:17pm

Why go with ESB at all?

Go with Bord Gais or Airtricity, and get guaranteed discount below ESB rates [and get an extra discount for direct debiting!]

I have been with Board Gais since they announced electricity service [got setup quickly, assuming its as I live near a depot], and never had a single problem!

Fnergg · 08-02-2010 6:45pm

tHE vAGGABOND wrote: »

Why go with ESB at all?

Go with Bord Gais or Airtricity, and get guaranteed discount below ESB rates [and get an extra discount for direct debiting!]

I have been with Board Gais since they announced electricity service [got setup quickly, assuming its as I live near a depot], and never had a single problem!

The issue at hand is not the cost of the electricity but the requirement of all suppliers for a new customer to pay a deposit and/or go on direct debit.

The ESB - with their Laser payment option enabling customers to pay towards their next bill - provides a useful alternative to those who can't pay the deposit and yet don't want to tie themselves into a direct debit arrangement.

Regards,

Fnergg

Fnergg · 08-02-2010 6:49pm

tHE vAGGABOND wrote: »

...I have been with Board Gais since they announced electricity service [got setup quickly, assuming its as I live near a depot], and never had a single problem!

Now that you have been with them for 12 months your discount will be significantly reduced. The rational thing to do therefore is switch to Airtricity and avail of the higher discount for the first 12 months with them.

Regards

Fnergg

Cherrycola · 12-02-2010 2:08pm

Neeni wrote: »

I suggest going with the DD option but maybe paying weekly amount using ESB's online laser option - that way when your bill issues, they will only collect the balance (if there still is one) from your bank account so that gives you a bit more control over it.

All the utility companies are looking for deposits now - some even more than the 300 but at least ESB are reliable, they are fairly customer friendly and won't make a big deal about amending estimated bills like some of their so-called competitiors.

So we can set up a DD with ESB, but then make Laser payments to our ESB account number before our bill issues, to put our account in credit as such?!
There is no chance of a f**k up and being issued a bill for the full amount cos someone didnt log the Laser payments??

Davy · 12-02-2010 2:19pm

Cherrycola wrote: »

So we can set up a DD with ESB, but then make Laser payments to our ESB account number before our bill issues, to put our account in credit as such?!
There is no chance of a f**k up and being issued a bill for the full amount cos someone didnt log the Laser payments??

You can do excatly that. Once the payment clears before the bill issues. If you paid €30 each week, and the bill arrived before the last weeks payment cleared then it would only be €30 owed if you get me.

Check out : https://youraccountonline.esb.ie

D3PO · 12-02-2010 2:27pm

Fnergg wrote: »

The issue at hand is not the cost of the electricity but the requirement of all suppliers for a new customer to pay a deposit and/or go on direct debit.

The ESB - with their Laser payment option enabling customers to pay towards their next bill -

If your on Direct debit can you still avail of this ? I pay my ESB on direct debit, but some months it just falls inconviently for me. I wouldnt mind popping a few quid into my account to have it in cridit when I can, to reduce my DD payment.

D3PO · 12-02-2010 2:28pm

Looks like Davy answered my question before I asked it lol

Thanks Davy

Fnergg · 12-02-2010 11:24pm

Cherrycola wrote: »

So we can set up a DD with ESB, but then make Laser payments to our ESB account number before our bill issues, to put our account in credit as such?!
There is no chance of a f**k up and being issued a bill for the full amount cos someone didnt log the Laser payments??

No. (No chance of a f**k up).

Just make sure you quote the correct ESB account number.

Regards,

Fnergg

ESB deposit

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