Smarter bill paying could save you over £200 reveals new research from Bacs

As the economic downturn continues to dig in its heels, leaving people across the UK feeling the pinch, research from Bacs Payment Schemes Limited (Bacs), the not-for-profit industry body behind Direct Debit, has indicated that as much as £230* a year can be saved by UK households who choose to pay by Direct Debit.

While the fate of the economy is out of consumers’ control, there are Direct Debit savings to be had from dual fuel, broadband and mobile phone bills that will help people put some pennies back into their pockets.
 
Michael Chambers, Managing Director of Bacs, said: “As the economic downturn continues, people need to put all the money saving tips they know into practice.  The saving savvy among us are seeking ways to exercise control over our expenditure, adjusting and making changes to help keep on top of our everyday money management.

“Our money saving calculation of £230 emphasises just how much Direct Debit can help people save money and better organise their finances across a range of regular bills.  Not only does paying bills in this way help cut, and spread, the costs of many regular household bills, it also saves customers time and gives them control of their finances.

“It is essential that consumers realise Direct Debit is a safe and reliable payment method protected by the Direct Debit Guarantee. This is a consumer safeguard which is adhered to by all the banks and building societies which operate under the Direct Debit Scheme and 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 Direct Debit payments.”

To discover more about saving money through Direct Debit visit:  www.thesmartwaytopay.co.uk

* Household money savings have been formulated as follows, using sample data collected from a cross section of some of the UK’s most popular suppliers: www.thesmartwaytopay.co.uk/family-life/savings.asp