Are we just endlessly meant to switch EVERYTHING??

W3Schools

Jon

Administrator
Staff member
Joined
Oct 17, 2013
Messages
24,150
Reaction score
2,209
Points
283
Age
37
Location
Leeds
I've seen a fair chunk of folk on Twitter over the last few weeks who have Switched their energy provider after being told how easy it is via uSwitch or the green site Switch or whatever and have ended up with an energy company that has now gone bust and they have been moved to one now they didn't even choose, but heck you get £50-£100 for that initial switch.

Then it's onto the banks where it appears we can make £100 per switch (saw adverts for Nationwide offering this again last night), then onto Broadband / TV where we should do the same every 2 years but nevermind the fact that maybe swapping from Virgin to Sky may not be the best idea since they offer MUCH slower broadband speeds and are reliant on Openreach.

Are people thinking before switching do you think or are their eyes only on the money they get for doing so?

I just can't be bothered with it all but am I being stupid and missing out on a load of cash I could get each year?

Car Insurance is the only thing I don't mind switching with and generally do each year as loyalty means nothing to those companies so I might as well get something out of them lol

What do you think?

 

JesseEverAfter

SuperStar Helper!
Joined
Feb 18, 2017
Messages
166
Reaction score
51
Points
88
Location
Bristol
I only switch if it makes sense to, if I'm happy where I am - I'll stay where I am. I can't see us switching away from Virgin to get a better deal from Sky because we trust Virgin's broadband (that and the speeds other companies can offer still don't completely compare).

I like my main bank (I've been with them for almost 20 years (I had their Junior account - trying to make myself sound less old here hehe) but I also have accounts with 4 other banks taking advantage of the higher interest rates in their current accounts versus instant access savings accounts. So may at some point take advantage of a switch using one of these accounts if I can meet any eligibility criteria (normally things like switching direct debits etc).

I did always used to compare my home contents insurance each year when I rented - nice bonus of cashback each time and I did switch energy tariffs constantly but this was staying with the same company (EDF) as they made it so easy - each time they introduced a new lower tariff they emailed about it and it only took a couple of clicks to switch to it.
 

Jon

Administrator
Staff member
Joined
Oct 17, 2013
Messages
24,150
Reaction score
2,209
Points
283
Age
37
Location
Leeds
I only switch if it makes sense to, if I'm happy where I am - I'll stay where I am. I can't see us switching away from Virgin to get a better deal from Sky because we trust Virgin's broadband (that and the speeds other companies can offer still don't completely compare).

I like my main bank (I've been with them for almost 20 years (I had their Junior account - trying to make myself sound less old here hehe) but I also have accounts with 4 other banks taking advantage of the higher interest rates in their current accounts versus instant access savings accounts. So may at some point take advantage of a switch using one of these accounts if I can meet any eligibility criteria (normally things like switching direct debits etc).

I did always used to compare my home contents insurance each year when I rented - nice bonus of cashback each time and I did switch energy tariffs constantly but this was staying with the same company (EDF) as they made it so easy - each time they introduced a new lower tariff they emailed about it and it only took a couple of clicks to switch to it.
When you say you switched energy tariffs endlessly with the same company were you porting out and leaving and then going back in again on the same tariff to get some kind of 'cashback'?
 

Topaz

Money Making Megastar!
Joined
Mar 22, 2014
Messages
1,447
Reaction score
276
Points
263
Website
serendipitysays1.blogspot.co.uk
I don't switch unless there's a good reason. We switched and went dual fuel last year because there was a good offer on at the time.
We've had the same broadband/phone/banks for years and years, because the hassle of changing doesn't seem to be worth the few quid that is saved.
Him indoors does shop around for his car insurance, but usually when he tells his previous insurance company that he was offered a better deal elsewhere, they match it and he stays.
I think customer satisfaction is important too. I'd rather stay with a provider that gives a good service than pay a few pounds less and have problems.
 
Reactions: Jon

JesseEverAfter

SuperStar Helper!
Joined
Feb 18, 2017
Messages
166
Reaction score
51
Points
88
Location
Bristol
When you say you switched energy tariffs endlessly with the same company were you porting out and leaving and then going back in again on the same tariff to get some kind of 'cashback'?
No, they were providing new tariffs (often at better rates than their existing tariffs) all the time which existing customers as well as new customers could switch to - all you had to do was login to your account and select the new tariff and it would all update within 24 hours. There wasn't any added perk just generally cheaper prices and for the sake of a couple of clicks was more of a why not kind of deal. :)
 

jroth222

Well-Known Member
Joined
Feb 22, 2016
Messages
9
Reaction score
9
Points
63
I can’t always be bothered with the whole switching process and I have put it off for a long time, but with the start of the new year I’ve decided to focus on getting my finances in order.

Insurance has always been worth switching for me as renewal prices are disgracefully over-priced. One example alone, last year my “auto renewal” price was going to be £2104 with admiral, more expensive than the quote I signed up with, so I checked with direct line and got my insurance for £994.

Bank Accounts can be worth switching if they offer a large incentive. This year I switched banks for the first time for a £150 reward and 2% cash back on bills. Weighing up the account I had and the account I was switching to, there was virtually no difference so I couldn’t help but think to myself why I hadn’t done this earlier.

Energy etc. I don’t tend to bother with, as any energy company will initially offer you a low monthly price to start with but 6 months down the line they tell you that you’ve been using more energy than expected and bump your price up. This happened to me with EOn and my monthly price doubled... paying essentially the same yearly price if not a bit more. switching energy providers can be misleading...
 
Reactions: Jon

Danilene

Active Member
Joined
Jan 15, 2019
Messages
16
Reaction score
4
Points
33
Age
43
I can't switch as I am renting. The letting agency won't allow me to. I was unable to move in until 2 weeks after the start of my tenancy agreement, as it was difficult for me to get a day off work and the few removal companies who were willing to work on a Saturday would have charged me twice as much as the company I ended up using (the same people who had moved me 4 years earlier so I knew they worked well). The letting agents were nearly ballistic, they organised an inspection 2 weeks after I had moved in (4 weeks after the beginning of my tenancy agreement) to check I had contacted the utility providers. I had done that as soon as I had had the contract...
What I'd love is for utility companies and the likes of BT/Virgin Media to offer contracts with a minimum length of 6 months, as opposed to the 12 or 18 months they offer right now. Shorthold tenancy agreements are usually 6-month long...
 

katykicker

I am a 20 something stay-at-home-wife from Essex.
Staff member
Joined
Nov 14, 2014
Messages
6,205
Reaction score
498
Points
343
Location
Harlow
Website
katykicker.com
I switch most things each year, here is a guide to what I do:

Ring BT when price increases come, negotiate deal usually 50% less than what their advertised price is (at least), get some sort of 'free' TV package (built into the price really)
Switch energy provider, make sure the price is the lowest I can find and the standing charge (daily fee to have gas/electric) won't make me pay more overall. This time around I've joined Bulb, they're not only cheapest for a lot of people now but you get £50 credit if you use someone's link. Here is mine which gets us both £50: bulb.co.uk/refer/thomass4680<p><span></span></p>
Jon, I'm online today if you want me to help you see EASILY just how much you're overpaying for gas/electric.
Ring car insurance company when renewal comes around. Use one price comparison site, find them on the site, query why they are cheaper there than the price they offered me, say I'm leaving, get an even cheaper deal.
Same as above for contents insurance.
Don't think we really pay for much else tbh.
Keep my bank. I don't move this around a lot, despite the cash on offer, as I'm not paying for my bank anyway and don't want to shit on my credit score potentially.


Just by ringing BT, switching energy provider, ringing car insurance and contents insurance people I've saved about £750 this year versus just letting it roll over. That's a lot of money for 30-60 minutes work total.
 

lilszi

Active Member
Joined
Jan 31, 2019
Messages
71
Reaction score
23
Points
38
Age
30
I never switched for the money, but when i switched i checked if there's money available for it ;)
I check every time a bigger purchase or contract is involved.
 

NRS

SuperStar Helper!
Joined
Nov 26, 2017
Messages
197
Reaction score
77
Points
88
Age
53
Location
Derbyshire
I have more than one current account (5 in fact!). I use First Direct as my main account and I'm very happy with them. When there's a switching bonus to be had, I move one of the secondary accounts. All the DDs are set up so it's quite easy.

The way I think about it is that if my boss asked me to stay at work for an extra 20 minutes , for £150, would I do it? Of course I would...so why wouldn't I spend 20 mins switching my account? Of course the switching bonuses are finite, so I 'd be surprised if there any more to be had!
 

NRS

SuperStar Helper!
Joined
Nov 26, 2017
Messages
197
Reaction score
77
Points
88
Age
53
Location
Derbyshire
I forgot to add that my favourite switching bonus has to be for Roadside Assistance. Topcashback/Quidco always seem to have quite a bonus for this, so I invariably end up switching between AA and RAC every year, and end up paying around £15-£20 for a year's cover!
 

katykicker

I am a 20 something stay-at-home-wife from Essex.
Staff member
Joined
Nov 14, 2014
Messages
6,205
Reaction score
498
Points
343
Location
Harlow
Website
katykicker.com
I have more than one current account (5 in fact!). I use First Direct as my main account and I'm very happy with them. When there's a switching bonus to be had, I move one of the secondary accounts. All the DDs are set up so it's quite easy.

The way I think about it is that if my boss asked me to stay at work for an extra 20 minutes , for £150, would I do it? Of course I would...so why wouldn't I spend 20 mins switching my account? Of course the switching bonuses are finite, so I 'd be surprised if there any more to be had!
@Jon you need to remember this and get the deets for your gas & electric today so I can help you switch to someone cheaper!
 
Reactions: NRS

notestacker

Member
Joined
Feb 13, 2019
Messages
3
Reaction score
2
Points
23
Age
23
Location
Middlesbrough, UK
Website
www.NoteStacker.com
It depends with me, I know we all love to save money however it's bitten me once or twice!
I always read the reviews of service providers. Broadband, insurance etc. I compare prices at renewal for all my purchases like these and I do regularly change but I make sure I am switching to a good company. Of course those listed on comparison sites are mostly good however I've switched a couple of times and had big issues with customer service, that's a huge thing for me. Nothing worse than phoning an insurance company when you've had an accident and no one is picking up the phone and when they do, you're through to a foreign call centre and you're struggling to communicate. But yes, I will continue to keep switching as it has saved me a fortune.
 
Reactions: Jon and NRS

NRS

SuperStar Helper!
Joined
Nov 26, 2017
Messages
197
Reaction score
77
Points
88
Age
53
Location
Derbyshire
Agree @notestacker . That's why I've not signed up to any of these apps that automatically move your gas/electricity or savings around. I wouldn't want to be moved to a smaller utility company which doesn't have decent service, even if it saves me money.
 

notestacker

Member
Joined
Feb 13, 2019
Messages
3
Reaction score
2
Points
23
Age
23
Location
Middlesbrough, UK
Website
www.NoteStacker.com
Agree @notestacker . That's why I've not signed up to any of these apps that automatically move your gas/electricity or savings around. I wouldn't want to be moved to a smaller utility company which doesn't have decent service, even if it saves me money.
I've heard of a couple small utility companies going bankrupt lately, bound to cause unnecessary hassle. Of course sticking with the big names doesn't guarantee anything, but better to stick with those who've been around a while surely.
 

Jon

Administrator
Staff member
Joined
Oct 17, 2013
Messages
24,150
Reaction score
2,209
Points
283
Age
37
Location
Leeds
The problem you have is that while the big companies can take the endless switching I would imagine the smaller ones just can’t cope with a churn rate that high!!
 

katykicker

I am a 20 something stay-at-home-wife from Essex.
Staff member
Joined
Nov 14, 2014
Messages
6,205
Reaction score
498
Points
343
Location
Harlow
Website
katykicker.com
I've heard of a couple small utility companies going bankrupt lately, bound to cause unnecessary hassle. Of course sticking with the big names doesn't guarantee anything, but better to stick with those who've been around a while surely.
When these companies go bankrupt ofgem moves you to another supplier. You don't lose supply and you can then just move elsewhere. I think it's still worth the chance for the savings in the interim.
 

Jon

Administrator
Staff member
Joined
Oct 17, 2013
Messages
24,150
Reaction score
2,209
Points
283
Age
37
Location
Leeds
Do these smaller suppliers tend to have crappy customer service based in India or something to keep their costs so low compared to the main players...
 

TMSPRESTO

TotallyBlogging

Forum statistics

Threads
5,061
Messages
141,910
Members
7,474
Latest member
Hallifax89

Latest profile posts

Just popped back in as been busy matched betting and loving it. Am just short of £6.5k profit since I started and I am quite lazy lol. Thank you to the Money Shed for fattening my bank balance!
Great to see the sun out at last!
Starting the process of transferring a domain out of GoDaddy...
Think I'm going to relaunch an old domain....
Happy birthday to me!