❓ Mr. Watson questions Western Power's decision to increase the minimum Budget Card payment from $20 to $30. The Minister explains the change aims to reduce transaction costs associated with frequent, small payments.
AnsweredQoN 2778Legislative Assembly
QuestionView source ↗
Will the Minister explain why Western Power has made the minimum payment on their budget card from $20 to $30?
AnswerView source ↗
Answered
4 May 2004
Responded by
Minister for Energy
Response time
26 days
Western Power has advised as follows: The Budget Card is a Western Power payment option that enables customers to pre-pay in advance against their next electricity bill. In October 2003 Western Power evaluated a series of options that would achieve transaction cost savings. Western Power was incurring higher transaction costs on the Budget Card as a result of customers making smaller, more frequent payments (2.56% of payments received in comparison to 0.6% of the payment amount for other payment options). The cost of receiving Budget Card payments equals to 2.56% of the payment amount. Western Power identified that a review of the payment method was appropriate as part of a cost minimisation opportunity. The aim of this change to the Budget Card minimum payment is not to get customers to pay more, rather to pay less frequently. For example instead of paying $20 a fortnight, the customer could pay $40 a month. The customer is effectively budgeting for the same expense but simply making less frequent payments. The reduction in transactions and hence transaction fees, will lead to an overall reduction in the cost of receiving payments. Members may be interested to note that an alternative payment method is available to eligible Centrelink concession cardholders called CentrePay. Centrepay is a voluntary direct deduction service, which allows payments of $20 to be made and can be arranged directly with Centrelink with no cost to the consumer.
The Budget Card is a Western Power payment option that enables customers to pre-pay in advance against their next electricity bill. In October 2003 Western Power evaluated a series of options that would achieve transaction cost savings. Western Power was incurring higher transaction costs on the Budget Card as a result of customers making smaller, more frequent payments (2.56% of payments received in comparison to 0.6% of the payment amount for other payment options). The cost of receiving Budget Card payments equals to 2.56% of the payment amount. Western Power identified that a review of the payment method was appropriate as part of a cost minimisation opportunity. The aim of this change to the Budget Card minimum payment is not to get customers to pay more, rather to pay less frequently. For example instead of paying $20 a fortnight, the customer could pay $40 a month. The customer is effectively budgeting for the same expense but simply making less frequent payments. The reduction in transactions and hence transaction fees, will lead to an overall reduction in the cost of receiving payments. Members may be interested to note that an alternative payment method is available to eligible Centrelink concession cardholders called CentrePay. Centrepay is a voluntary direct deduction service, which allows payments of $20 to be made and can be arranged directly with Centrelink with no cost to the consumer.
In October 2003 Western Power evaluated a series of options that would achieve transaction cost savings. Western Power was incurring higher transaction costs on the Budget Card as a result of customers making smaller, more frequent payments (2.56% of payments received in comparison to 0.6% of the payment amount for other payment options). The cost of receiving Budget Card payments equals to 2.56% of the payment amount. Western Power identified that a review of the payment method was appropriate as part of a cost minimisation opportunity. The aim of this change to the Budget Card minimum payment is not to get customers to pay more, rather to pay less frequently. For example instead of paying $20 a fortnight, the customer could pay $40 a month. The customer is effectively budgeting for the same expense but simply making less frequent payments. The reduction in transactions and hence transaction fees, will lead to an overall reduction in the cost of receiving payments. Members may be interested to note that an alternative payment method is available to eligible Centrelink concession cardholders called CentrePay. Centrepay is a voluntary direct deduction service, which allows payments of $20 to be made and can be arranged directly with Centrelink with no cost to the consumer.
Western Power was incurring higher transaction costs on the Budget Card as a result of customers making smaller, more frequent payments (2.56% of payments received in comparison to 0.6% of the payment amount for other payment options). The cost of receiving Budget Card payments equals to 2.56% of the payment amount. Western Power identified that a review of the payment method was appropriate as part of a cost minimisation opportunity. The aim of this change to the Budget Card minimum payment is not to get customers to pay more, rather to pay less frequently. For example instead of paying $20 a fortnight, the customer could pay $40 a month. The customer is effectively budgeting for the same expense but simply making less frequent payments. The reduction in transactions and hence transaction fees, will lead to an overall reduction in the cost of receiving payments. Members may be interested to note that an alternative payment method is available to eligible Centrelink concession cardholders called CentrePay. Centrepay is a voluntary direct deduction service, which allows payments of $20 to be made and can be arranged directly with Centrelink with no cost to the consumer.
Western Power identified that a review of the payment method was appropriate as part of a cost minimisation opportunity. The aim of this change to the Budget Card minimum payment is not to get customers to pay more, rather to pay less frequently. For example instead of paying $20 a fortnight, the customer could pay $40 a month. The customer is effectively budgeting for the same expense but simply making less frequent payments. The reduction in transactions and hence transaction fees, will lead to an overall reduction in the cost of receiving payments. Members may be interested to note that an alternative payment method is available to eligible Centrelink concession cardholders called CentrePay. Centrepay is a voluntary direct deduction service, which allows payments of $20 to be made and can be arranged directly with Centrelink with no cost to the consumer.
The aim of this change to the Budget Card minimum payment is not to get customers to pay more, rather to pay less frequently. For example instead of paying $20 a fortnight, the customer could pay $40 a month. The customer is effectively budgeting for the same expense but simply making less frequent payments. The reduction in transactions and hence transaction fees, will lead to an overall reduction in the cost of receiving payments. Members may be interested to note that an alternative payment method is available to eligible Centrelink concession cardholders called CentrePay. Centrepay is a voluntary direct deduction service, which allows payments of $20 to be made and can be arranged directly with Centrelink with no cost to the consumer.
The reduction in transactions and hence transaction fees, will lead to an overall reduction in the cost of receiving payments. Members may be interested to note that an alternative payment method is available to eligible Centrelink concession cardholders called CentrePay. Centrepay is a voluntary direct deduction service, which allows payments of $20 to be made and can be arranged directly with Centrelink with no cost to the consumer.
Members may be interested to note that an alternative payment method is available to eligible Centrelink concession cardholders called CentrePay. Centrepay is a voluntary direct deduction service, which allows payments of $20 to be made and can be arranged directly with Centrelink with no cost to the consumer.
The Budget Card is a Western Power payment option that enables customers to pre-pay in advance against their next electricity bill. In October 2003 Western Power evaluated a series of options that would achieve transaction cost savings. Western Power was incurring higher transaction costs on the Budget Card as a result of customers making smaller, more frequent payments (2.56% of payments received in comparison to 0.6% of the payment amount for other payment options). The cost of receiving Budget Card payments equals to 2.56% of the payment amount. Western Power identified that a review of the payment method was appropriate as part of a cost minimisation opportunity. The aim of this change to the Budget Card minimum payment is not to get customers to pay more, rather to pay less frequently. For example instead of paying $20 a fortnight, the customer could pay $40 a month. The customer is effectively budgeting for the same expense but simply making less frequent payments. The reduction in transactions and hence transaction fees, will lead to an overall reduction in the cost of receiving payments. Members may be interested to note that an alternative payment method is available to eligible Centrelink concession cardholders called CentrePay. Centrepay is a voluntary direct deduction service, which allows payments of $20 to be made and can be arranged directly with Centrelink with no cost to the consumer.
In October 2003 Western Power evaluated a series of options that would achieve transaction cost savings. Western Power was incurring higher transaction costs on the Budget Card as a result of customers making smaller, more frequent payments (2.56% of payments received in comparison to 0.6% of the payment amount for other payment options). The cost of receiving Budget Card payments equals to 2.56% of the payment amount. Western Power identified that a review of the payment method was appropriate as part of a cost minimisation opportunity. The aim of this change to the Budget Card minimum payment is not to get customers to pay more, rather to pay less frequently. For example instead of paying $20 a fortnight, the customer could pay $40 a month. The customer is effectively budgeting for the same expense but simply making less frequent payments. The reduction in transactions and hence transaction fees, will lead to an overall reduction in the cost of receiving payments. Members may be interested to note that an alternative payment method is available to eligible Centrelink concession cardholders called CentrePay. Centrepay is a voluntary direct deduction service, which allows payments of $20 to be made and can be arranged directly with Centrelink with no cost to the consumer.
Western Power was incurring higher transaction costs on the Budget Card as a result of customers making smaller, more frequent payments (2.56% of payments received in comparison to 0.6% of the payment amount for other payment options). The cost of receiving Budget Card payments equals to 2.56% of the payment amount. Western Power identified that a review of the payment method was appropriate as part of a cost minimisation opportunity. The aim of this change to the Budget Card minimum payment is not to get customers to pay more, rather to pay less frequently. For example instead of paying $20 a fortnight, the customer could pay $40 a month. The customer is effectively budgeting for the same expense but simply making less frequent payments. The reduction in transactions and hence transaction fees, will lead to an overall reduction in the cost of receiving payments. Members may be interested to note that an alternative payment method is available to eligible Centrelink concession cardholders called CentrePay. Centrepay is a voluntary direct deduction service, which allows payments of $20 to be made and can be arranged directly with Centrelink with no cost to the consumer.
Western Power identified that a review of the payment method was appropriate as part of a cost minimisation opportunity. The aim of this change to the Budget Card minimum payment is not to get customers to pay more, rather to pay less frequently. For example instead of paying $20 a fortnight, the customer could pay $40 a month. The customer is effectively budgeting for the same expense but simply making less frequent payments. The reduction in transactions and hence transaction fees, will lead to an overall reduction in the cost of receiving payments. Members may be interested to note that an alternative payment method is available to eligible Centrelink concession cardholders called CentrePay. Centrepay is a voluntary direct deduction service, which allows payments of $20 to be made and can be arranged directly with Centrelink with no cost to the consumer.
The aim of this change to the Budget Card minimum payment is not to get customers to pay more, rather to pay less frequently. For example instead of paying $20 a fortnight, the customer could pay $40 a month. The customer is effectively budgeting for the same expense but simply making less frequent payments. The reduction in transactions and hence transaction fees, will lead to an overall reduction in the cost of receiving payments. Members may be interested to note that an alternative payment method is available to eligible Centrelink concession cardholders called CentrePay. Centrepay is a voluntary direct deduction service, which allows payments of $20 to be made and can be arranged directly with Centrelink with no cost to the consumer.
The reduction in transactions and hence transaction fees, will lead to an overall reduction in the cost of receiving payments. Members may be interested to note that an alternative payment method is available to eligible Centrelink concession cardholders called CentrePay. Centrepay is a voluntary direct deduction service, which allows payments of $20 to be made and can be arranged directly with Centrelink with no cost to the consumer.
Members may be interested to note that an alternative payment method is available to eligible Centrelink concession cardholders called CentrePay. Centrepay is a voluntary direct deduction service, which allows payments of $20 to be made and can be arranged directly with Centrelink with no cost to the consumer.
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