10°C

light rain

TFL Updates
London Daily News

Loyalty could be costing you £144 every year, here’s how to avoid it

Loyalty could be costing you £144 every year, here’s how to avoid it

Brits are being warned their loyalty could be costing them millions, as new research from Lebara reveals more than half (56%) admit to staying faithful even when it’s clearly to their own detriment. With loyalty and betrayal once again dominating the nation’s screens, the research found one in ten Brits stay loyal to their mobile provider even when it costs them, potentially leaving UK consumers £144 a year worse off by sticking with overpriced contracts from the major mobile networks – the equivalent of almost £25 million every single day.

When it comes to household bills, Brits appear to be faithful to a fault, according to a survey of over 2,000 Brits. Broadband providers (18%) lead the list of contracts consumers surveyed are reluctant to leave, followed by mobile networks (15%) and TV packages (14%). And while one in ten (11%) know there are better deals out there, they’re unsure where to look; a quarter (25%) don’t even know when their current plan expires. For those who do know they could switch, habit (29%) and laziness (28%) are among the biggest reasons for staying put, while 22% fear being hit with hidden charges when they switch.

But loyalty only goes so far when there’s nothing in it for the faithful. Almost a third (31%) of mobile customers surveyed have stayed with the same network for more than five years, while 12% have never switched at all. Yet just 9% strongly feel their loyalty is rewarded, while almost half (45%) suspect major networks deliberately give their best deals to new customers – leaving long-standing customers feeling like they’ve been left out in the cold.

The nation’s faithful nature expands outside of phone contracts as nearly one-fifth of consumers surveyed (19%) continue to pay for subscriptions they rarely use and admit they keep unused memberships simply because cancelling “feels like effort.” Lebara is encouraging the nation to question loyalty, challenge the traitors in their lives, and take back control of their bills. Its contract-free SIM-only plans give customers freedom, value, and flexibility with no hidden fees, no punishing contracts, and no betrayal for staying faithful.

For those still struggling with the grief and hassle of cancelling a subscription or changing provider, Nouran Moustafa, Founder of Roxton Wealth, has teamed up with Lebara to share their top three money saving tips:

1. Ask for the “new customer equivalent” price

“Providers often advertise much better deals to attract new customers than they offer existing ones,” says Nouran.

“Generally, I find people often underestimate how much is negotiable. Broadband, mobile packages, insurance renewals and some subscription services can all have flexibility around price, extras, contract length or upgrades. So it’s always worth asking questions to ensure you get the best deal possible.”

2. Compare the total annual cost

“Make sure to compare the total annual cost, not just the headline monthly price,” says Nouran.

“Introductory discounts, add-ons and price rises can make a supposedly cheaper deal more expensive over the year.”

3. Give them a call

“My third tip would be to call your current provider after you have found a genuine competing offer,” advises Nouran.

“I’m thinking of leaving” is vague. ‘I can get the same service elsewhere for £12 less a month’ gives the retention team something concrete to respond to.”

A spokesperson for Lebara Mobile added: “Big networks talk a good game on loyalty, but in reality, it’s often the faithful who pay the price – even when better deals are out there. Too many people stay put and end up worse off. At Lebara, we think being loyal should be a smarter choice, not a costly mistake. That’s why we offer flexible 30-day rolling plans, fair pricing and no mid-contract hikes. Customers stay with us because it makes sense, not because they’re stuck. With Lebara, being faithful actually pays.”

For those ready to escape the betrayal, Lebara’s SIM-only deals start from just £5 per month, offering 5GB of data, free international minutes to over 40 countries, and the freedom to leave anytime.

Pin It on Pinterest