Broadband customers pay for not shopping around.
Citizens Advice today shows that customers of the top 5 broadband providers are charged on average £113 a year more than new customers if they stay on when their initial contract finishes.
Other key findings are that it’s hard for customers to find out what they’re being charged; and vulnerable customers including older people are at more risk of paying the ‘loyalty penalty’.
But isn’t loyalty a good thing and worth rewarding?
In life perhaps but not so much in markets for essential goods and services. That’s why Citizens Advice is checking out energy, insurance and banking, as well as telecoms and broadband, for ‘inertia’ charging when that first juicy low-cost contract expires.
Find out more and download the broadband research.