Signing up to an annual direct debit payment plan from your energy supplier is supposed to help prevent bill shock as your payments are spread equally throughout the year. But it might not work like that...
Banks 'turn-off' for young people

Fewer than one in five under-30s recommended their bank in the last year, new figures have shown
High street banks are a "turn-off" for young people, with less than a fifth saying they have recommended their provider in the last year, a report has found.
Just 17% of the 20- to 29-year-olds surveyed said they had praised their bank to someone else in the last 12 months, the Young Money report for financial services consultancy MRM found.
Opening hours were one of the main areas of frustration, with one in five people saying they had tried to visit a branch only to find it was closed.
The study comes as banks are trying to re-build their customer reputations following a recent spate of incidents which have rocked the sector such as Barclays' Libor-fixing scandal and NatWest's IT chaos.
Comparison websites and building societies have recently reported surges in activity from people looking to switch their accounts.
MRM director Michael Taggart said the findings suggested high street banks are a "turn-off for twentysomethings".
He said: "Today's twentysomethings are tomorrow's big earners and if banks fail to win their loyalty and trust today, they are storing up big problems in years to come."
The Office of Fair Trading launched a review into the personal current account market earlier this month amid concerns over a lack of transparency and competition.
The watchdog wants banks to make switching easier and increase their transparency over fees and charges. It said it will consider going to the Competition Commission if it finds the sector has not done enough to pull its socks up.
The report based its findings on responses from more than 2,000 people.
related stories on msn
latest money videos
more on msn money


The iconic Cotchford Farm in East Sussex goes up for sale for £2 million.

We look at which option will bag you a nicer home in a better neighbourhood.

Whether you have credit card debts or an overdraft or a stack of store credit, you can get back in the black for very little cost.

Because the sun has to shine eventually...

Nearly half of UK households say that they would struggle to cope if their monthly outgoings rose by £99. We look at how you can create some financial 'breathing space' to help you out if you lose your job or become ill.

Avoid these mistakes if you want to lead a richer life!

Save regularly to nab a leading easy access ISA rate from Newcastle Building Society and the chance to earn up to £1,000 cashback.

Barclaycard is now offering a record 27 interest-free months to pay off your debts.

The taxman says three and a half million people are due a refund, but two million will have to fork out for underpaid tax.

Fed up with low savings rates and high borrowing rates? As Dave Fishwick and his Bank of Dave has demonstrated, there are other options out there.

If you want to find a unique property bargain, there is plenty of help available online - you just need to know where to look.



