The Smarter way to pay can save £208 a year on household bills! Plus meet The Smarts at www.thesmartwaytopay.co.uk Latest research from Bacs Payment Schemes Limited (Bacs), the not-for-profit industry body behind Direct Debit, has indicated that as much as £208* a year can be saved by UK households who choose to pay by Direct Debit.
The savings which span a number of regular bills such as dual fuel, broadband and mobile phone were unveiled today (18 July 2007) at an event held by Bacs in London. In tandem, a new family on the financial block called The Smarts, was introduced for the first time.
The Smarts, an animated family using Direct Debit and Bacs Direct Credit to help them save time and money, have been developed to illustrate how automated payments can be used to improve financial management and control regardless of age and social background.
The family**, live on Easy Street. The main family, Sal, Terry and their two children - Backy and Will (and not forgetting EZ the cat) - can be found at No.1 Easy.
Living next door is Grandpa (Bob) and Gran Smart (Rose); Aunty Kim and her baby, Jess live at No.3. The family can be visited day or night
at www.thesmartwaytopay.co.uk
Michael Chambers, Managing Director of Bacs, said: "We created The Smarts to present a fun and engaging way to illustrate how Diret Debit and Bacs Direct Credit an be used to help manage financial situations which crop up in everyday life. It is also increasingly important for consumers to understand how Direct Debit can work for families and individuals at different life stages regardless of social backgrounds."
"Our money saving calculation of £208 is a great way to emphasise the discounts available on many regular household bills. But this represents just one of the benefits. Direct Debit also saves time, helps spread the cost and most importantly is protected by the Direct Debit Guarantee. This is a consumer safeguard which is adhered to by all of the banks and building societies which operate under the Direct Debit Scheme. It offers a full and immediate refund if an error is made, advance notice of any changes to payment dates and gives the consumer the right to cancel their payments."
For further information on The Smarts and Direct Debit please visit
www.thesmartwaytopay.co.ukFor more information about Bacs and our services visit Bacs key facts.
Contact Bacs press office.
* Household money savings have been formulated as follows:
| House |
Savings (£) |
| Combined gas and electricity (npower) |
80.00 |
| Broadband/Digital TV (Virginmedia) |
60.00 |
| Landline telephone (BT) |
18.00 |
| IPC magazine subscription to Now Magazine |
14.08 |
| Mobile phone |
36.00 |
Total |
£208.08 |
npower duel fuel:
Taken from -
http://www.npower.com/stoppress/Our discount has now been increased to £80 when you take both fuels from npower. Take your electricity and gas from npower, paying by monthly Direct Debit throughout the year and you'll receive our recently improved £80 annual discount.
Broadband/digital:
Taken from -
http://allyours.virginmedia.com/html/existingcustomers/billingfaq.htmlWhat are my options for paying my bills?
Direct Debit - The cheapest and easiest way to pay for your Virgin Media services is Direct Debit. You'll save money as other methods of payment are subject to a separate payment handling charge of £5 per month by Virgin Media Payments Ltd. You will still receive your monthly bill five working days in advance of the payment being requested from your bank. This means that you can check your monthly statements prior to your payment going out. Our Direct Debit Guarantee promises you a full refund if Virgin Media Payments Ltd makes a mistake.
Landline telephone:
Taken from -
www2.bt.com/static/i/microsite/help_and_tips/payments/faq/about_payments.html#faq11What is a payment processing fee?
From 1 May 2007, BT Payment Services Ltd, a separtae BT Group company, is introducing a payment processing fee for customers who do not pay their telephone bills by Direct Debit or Monthly Payment Plan as all other methods cost BT more to process. Customers not on Direct Debit or Monthly Payment Plan by the time of their next bill will be charged a discrete payment processing fee of £1.50 (for monthly billed customers) or £4.50 (for quarterly billed customers). You can avoid the new payment processing fee if you sign up to Direct Debit or Monthly Payment Plan. Visiti
www.bt.co/payment. Please note: These charges don't apply to customers on a special scheme such as in Contact Plus, the Light Use Scheme and Pay & Call.
Magazine subscription:
IPC Media offer a discount of £3.5 for paying for a subscription to Now Magazine by Direct Debit over three months. Therefore annually a household can save up to £14.08.
http://www.magazinesubscriptionsipc.com/ipc/ipcshop/trolley.aspMobile phone:
Based on T-Mobile £3 monthly charge for not using Direct Debit = £36
http://www.t-mobile.co.uk/personal/pages.do/our-services/internet-on-the-move/what-it-costs** The Smarts at a glance:
Terry Smart, father of the main faily, works as a Payments Professor and is the leading expert on absolutely everything to do with Direct Debit.
Sal Smart, mother of the family, Sal Smart is the MD of Smart Info Tech Services, a flourishing IT business.
Becky Smart, Terry and Sal's student daughter lives at home during holidays but is trying out independence with a room in her university's halls of residence during term time.
Will Smart, Terry and Sal's 13 year old son lives and breathes football.
EZ the cat, EZ the cat enjoys keeping No. 1 Easy Street mouse free.
Bob Smart, retired Grandpa who enjoys gardening.
Rose Smart, doting Gran who enjoys Bingo and reading.
Aunty Kim, mum to three month old baby Jess. After separating from her long-term boyfriend Ray. She is currently relying on Government credits.
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