VECO Bill Deposit: How It’s Computed and How to Get It Refunded
Like Meralco, Visayan Electric collects a refundable security deposit from customers — and it earns interest while it sits on your account. Here’s how it works for Cebu-area customers.
0.05%interest rate applied to bill deposits
Annualreview and adjustment cycle
Refundableon account closure, minus any balance owed
What the Bill Deposit Is For
The bill deposit is a security amount VECO collects to guarantee payment of your electricity bills. It isn’t a fee — it’s your money, held as protection for the utility, and returned to you when your account closes or is otherwise eligible for refund.
Every point on this page — the 0.05% interest rate, annual review, and reconnection deposit rule — comes straight from VECO’s own official Bill Deposit FAQ.
How It’s Handled
Interest
Your deposit accrues interest at a rate of 0.05% while it’s held.
Annual adjustment
VECO reviews deposits annually against your billing history and may adjust the amount up or down.
Refund eligibility
Refunds are available under specific conditions, most commonly account closure.
Reconnection deposit
If your service is disconnected and later reconnected, a separate reconnection deposit requirement may apply.
Closing your account or moving out? Any outstanding balance is settled against your deposit first — you receive the remainder, plus accrued interest.
Frequently Asked Questions
1. Does my VECO bill deposit earn interest?+
Yes, at a rate of 0.05%, accrued while the deposit is held on your account.
2. How often is the deposit amount reviewed?+
Annually, based on your billing history — it may be adjusted up or down to reflect your actual average consumption.
3. When do I get my deposit back?+
Most commonly when you close your account. Contact VECO directly to confirm the process and any other refund scenarios that may apply.
4. Is there a separate deposit for reconnection?+
Yes — reconnecting a disconnected service can carry its own deposit requirement, separate from your original bill deposit.
5. Will unpaid bills reduce my refund?+
Yes — any outstanding balance is deducted from your deposit before the remainder, plus interest, is refunded.
6. Is VECO’s bill deposit process the same as Meralco’s?+
The underlying concept — a refundable security deposit reviewed periodically — is similar across Philippine utilities, though specific rates and procedures are set by each company individually.
Have a specific deposit question?
Confirm your exact amount and refund eligibility directly with VECO.
VECO Customer Service