We’ve all been there at some point in our lives, where we feel like we’ve just paid so much more than we should have, whether it’s for a meal, furniture, clothes or for your phone or broadband contract.
We’ll get straight to it, according to uSwitch.com, which was released on the January 31st 2018 and based on a survey sample of 2002 UK adults that were questioned from December 21st to 27th 2017, UK consumers are overpaying £41 per second on expired phone and broadband bills (yes you’re allowed to take a moment to gather your emotions), what that means is, that it accumulates to a hefty figure of £108 million.
By the time you’re reading this you could be one of the eight million who use broadband services or one of the three million people that pay monthly mobile contracts and are out of contract, which means, without intending to you could be racking up the total.
Did you know?
In the United Kingdom there are just over 51 million adults and 94 percent of that 51 million have mobile phones according to Ofcom, to break that down for you, the report says that 50 percent of that figure signed a contract that includes a handset, fixed broadband connections currently stand a bit lower, at 25.3 million.
Another fact that the report revealed is that, 45 percent of broadband customers don’t actually believe that their contracts have ended, it gets better though, some don’t even know what their actual end date of their contract is (yes, if you’re shocked, we were too), if you want an even more scary fact, just over a quarter have been out of contract for more than three years and weren’t even aware.
How does that even happen?
The blunt truth is, the regulatory body rules mobile and broadband providers are not required to notify customers of the end of a contract, which obviously isn’t ideal for the end user!
You may have noticed, but back in December Ofcom introduced a way to allow consumers to switch mobile providers with a free text, this simple process was introduced back in 2015, the aim of it was to place the responsibility of the end user, or us if you will! Though, it seems that it hasn’t been marketed in the most effective way, as you can tell by the figures mentioned above.
Good news though, Ofcom have announced that they will most certainly look, analyse and consider uSwitch’s report carefully, with an Ofcom spokesman saying: “We want to ensure people can take full advantage of the deals out there and easily move to contracts that suit them best.”.
What do I do now?
You be worried now, but don’t be! We know it is easy for us to say that for you, but, it really is no reason to worry and do you know why? Because we are here to help, if you’re worried about spending money on a contract that’s not even active anymore, give us a call! We promise you our experts will carefully analyse your current contract situation and will offer you the best possible advice on what to do next. So, feel free to get in touch whenever you like, we’re here for you!