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Will I have to pay a security deposit?

23rd Sep 2020
1 minutes to read

Aodhan O'Donnell
Founder

Customers who pay for their energy by Direct Debit usually do not have to pay a security deposit. Likewise Pay as You Go customers will not be asked to pay a security deposit because they prepay for their energy and therefore there is less risk of a missed payment or a debt building up.

 

Many energy suppliers in Northern Ireland can charge a security deposit for those customers who decide not to pay by direct debit and pay on receipt of a bill. This is not to say all suppliers will, but they reserve the right to add a security deposit to your account. Below is a list of what each supplier may charge bill pay customers:

 

  • Budget Energy – £150 security deposit if you choose not to pay by direct debit
  • Click Energy – £150 security deposit if you choose not to pay by direct debit
  • Electric Ireland – £135 security deposit if you choose not to pay by direct debit
  • SSE Airtricity – £125 security deposit if you choose not to pay by direct debit
  • Power NI – No security deposit

 

All energy suppliers can charge a security deposit, if you fail to pay, cancel a direct debit or if you’re late paying any money due. 

 

Suppliers are required to return the security deposit to your account after 12 months, provided accounts have been paid off fully and on time (i.e. a good account history). You can avoid security deposits, for all suppliers, by paying by direct debit or choosing a prepayment tariff.

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