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This security deposit information applies to residential customers. Business customers should contact us for information about security deposits.
Deposits – normally cash - are used to secure your outstanding account balance. The amount of the deposit is based upon the type of heat (electric, gas, etc.) or usage history at your address. We normally require them from customers who are:
In lieu of a cash deposit, you may provide:
Yes, as long as your deposit is held at least six months. Interest is earned:
Your deposit and interest will be applied to your account after one year, provided that no more than two bills were paid late. If two bills are paid late, they must not be paid more than 30 days past their due date or the deposit/interest will not be applied.
If you close your account before a year has passed, the deposit/interest will be applied to your final Indiana Michigan Power bill.
AEP Ohio customers that have a refund due to them will receive a prepaid debit card in the mail to their address on file. Business customers will receive a check for refunds.
Once a customer receives their prepaid debit card in the mail, the customer can elect to start using the card for purchases, they can request a transfer of the amount to their bank account, or they can request a check be sent to them. The instructions for all three options are in the letter which is sent with the prepaid debit card.
The system must process the card first and send it to the customer, once the card is received the customer again has the option to follow the instructions on the letter with the card to either make purchases, request a paper check, or transfer the funds directly into the customer’s bank account.
Prepaid cards allow customers access to instant funds. Checks may take days to process before the funds are available to use. Customers who do not have a banking facility also will have immediate use of the cards without paying any additional check cashing fees. Prepaid cards allow instant access to the refund amounts and allow for immediate spending at stores.
Only residential customers will be receiving prepaid cards as refunds. Business Owners will still receive a check.
The prepaid debit card is accepted at all locations that accept MasterCard such as grocery stores, fast food establishments, retail clothing establishments, and movie theaters, just to name a few. Certain restaurants and gas stations when using the card may place a hold for a larger dollar amount on the card, for either a tip at a restaurant or pre-pay at the gas station pump hold. At gas stations take the card in to the attendant and let them know the dollar amount you want to use against the card so that a larger hold amount is not placed on the card which can cause it to be declined.
Call the number on the back or the card or use the website on the back of the card to keep a tab on balances.
If your card has expired, after the inactivity fees are applied, any remaining funds will be handed over to the State and held in an account. Call the number on the card and they will walk you through how to claim the funds from the State.
Customers can call 800.522.7458, or they may visit login.northlane.com/AEPrefunds, or email help@northlane.com.
Most large retail chains have advanced credit cards systems which will allow you to swipe your prepaid card and will use the total amount on the card and require the remaining balance to be paid by a different method (cash, check, credit card, etc.) Small retailers may require that you know the amount you wish to use on the card and can type in that value manually, with the remaining balance paid by another means. Customers can try swiping their card first to see if the location has an advanced system, if the card is declined, then a dollar amount must be given against the card value.
Yes, just as checks must be cashed within a certain period of time, prepaid cards must be used within a certain amount of time before an account maintenance fee is processed. Customers must start to use their cards within 6 months to avoid account maintenance fees.
Customers who don’t expect to use their card within six months may want to consider requesting a check or having a bank transfer to avoid inactive account maintenance fees.
You can call AEP Ohio to request another card. Please be sure to verify the correct mailing address when calling.
You will want to check the amount on your card to ensure the balance on the card is what you expect it to be. Also check to see if the place you used it at may have placed a hold for a certain dollar amount on the card which is larger than the balance, this can happen at gas station pumps and certain restaurants who accept tips. If there are any issues you can contact the number on the back of your card to see if there are any issues with the card itself.
Any interest earned will be applied to your account in December. Your deposit plus any additional interest earned will be applied to your account after twelve consecutive bills are paid on time. This count begins the month after the last Deposit payment is received and includes any Deferred Deposit paid on the account.
Yes, as long as your deposit is held at least twelve months. Interest is earned:
Your deposit and interest will be applied to your account after 12 consecutive bills are paid on time. If a bill is paid late during those same 12 consecutive months, it must not be paid more than 30 days past the due date or the deposit/interest will not be applied.
In lieu of a cash deposit, you may provide a letter of credit from another utility showing on time payment history for at least twelve months.
Interest is held until your deposit is applied. Your deposit and interest will be applied to your account after nine consecutive bills are paid on time.
If you close your account before nine months have passed, the deposit/interest will be applied to your final Indiana Michigan Power bill.
Yes, interest is earned at a rate of 7% per year. Interest is earned from the date the deposit is paid.
Interest earned will be applied to your account every six months. In most instances, your deposit plus any additional interest earned will be applied to your account after twelve consecutive bills are paid on time. If electricity has been used without the authorization of Indiana Michigan Power, the deposit may be held for 36 months.
In lieu of a cash deposit, you may:
Yes, interest is earned at a rate of 5.38% per year. Interest is earned from the date the deposit is paid.
Interest earned will be applied to your account each January. Upon request, your deposit plus any additional interest earned will be refunded after 18 months provided that the last twelve consecutive bills have been paid on time. This count begins the month after the last Deposit payment is received and includes any Deferred Deposit paid on the account.
If you close your account before 18 months have passed, the deposit/interest will be applied to your final Indiana Michigan Power bill.
Yes, as long as your deposit is held at least 30 days. Interest is earned:
Interest earned will be applied to your account each January. Your deposit plus any additional interest earned will be applied to your account after 12 months of payments, provided that no more than two payments have been paid late.
If you close your account before 12 months have passed, the deposit/interest will be applied to your final Indiana Michigan Power bill.
Yes, interest is earned from the date the deposit is paid. The interest rate is established annually by the Arkansas Public Service Commission and is based upon US Treasury security rates for the last quarter of the previous year.
Interest earned will be applied to your account each January. Your deposit plus any additional interest earned will be applied to your account after 12 months of on time payments.
If you close your account before 12 months have passed, the deposit/interest will be applied to your final Southwestern Electric Power Company bill.
Yes, interest is earned at a rate of 5% per year. Interest is earned from the date the deposit is paid.
Interest earned will be applied to your account each January. Your deposit plus any additional interest earned will be applied to your account after 12 months of payments, provided that all of the following are true:
“Remember User ID” helps you log in without having to memorize your ID or look it up every time. When you opt in, we automatically fill in your ID from then on. To avoid unauthorized access, you’ll still have to enter your password.
Your security code is a short word or phrase you set up with our customer service associates to provide extra protection for your online account.
If you have forgotten your security code, please call 800.311.4634.
Please login to manage your account.