Energy customers are being incentivised to switch to direct debit by being offfered the chance of winning £10,000.
The Bacs Payment Schemes Limited (Bacs) has started a national campaign called the Freedom Guaranteed 2016 scheme to encourage bill payers to switch payment method.
Any customer of a participating utility firm can enter a competition with a prize pot of £10,000 by setting up a direct debit.
Bacs’ Sector Specialist, Graham Callaghan, said: “The advantages of converting customers to direct debit are proven, cutting the time and cost associated with processing alternative methods of payments, while also improving retention rates.
“The campaign has already sparked interest with a wide range of billers and we are encouraging those in the utilities sector to get on board. Those participating can take advantage of all the benefits of the campaign, while offering their customers the chance to win a cash prize, simply for switching the way they pay.”
Utilities can participate in the promotion at a time that works best for them and their billing cycles.