by Anton Hagelund
December 08, 2018
A service that automatically switches suppliers and a cap on charges for long-standing customers should be central to the competition watchdog’s investigation into the so-called “loyalty penalty”, a charity has urged.
The problem, which according to the consumer rights charity Citizens Advice costs the average consumer £900 a year, is rife even in areas where people can easily move between providers, such as insurance or broadband.
A customer who comes to the end of a fixed-term deal or annual policy could find themselves moved to a much higher rate if they do not shop around for a better offer.
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