As part of setting up some new accounts, Castle Water may ask for a security deposit. This is to cover your payment obligations to Castle Water and is based on your estimated six-month charges.

The deposit is payable in addition to your first bill.

Why have you applied a security deposit?

We purchase your water services in advance. To help make sure your account is maintained, we may apply a refundable security deposit when a new account is opened.

This is explained in Section 10 of Castle Water’s Terms and Conditions.

How do you calculate the security deposit?

The deposit is equal to six months of charges. We calculate your daily charge and multiply it by 182.5 (half a year).

If you provide meter readings that show your usage is lower than expected, we may be able to recalculate the deposit.

Do I have to pay the security deposit?

It depends on your payment method and account status:

If your account is new and your first bill is not yet overdue

• If you set up a Direct Debit today, you won’t need to pay the deposit.
• We’ll return the deposit once we collect your first Direct Debit instalment.
• If you cancel your Direct Debit, the deposit will be added back to your account.

 

If you choose not to set up a Direct Debit:

• The deposit will be payable.
• Any deposit you pay (less any applied invoices, if any) will be repaid once you’ve shown 12 months of prompt payments.

 

If your account has more than one unpaid bill

• Yes, you will need to pay the deposit.
• If it remains unpaid, we will send reminder letters and may take enforcement action under our Terms & Conditions.
• The deposit remains refundable once 12 months of prompt payments have been demonstrated.

 

Key things to remember

• A Direct Debit can remove or refund your deposit quickly.
• Deposits are refundable once you’ve shown a year of prompt payments.
• If you cancel a Direct Debit, the deposit will be reinstated.