If you’re a loyal mobile customer, you’re more likely to be ‘ripped off’ by your telecoms provider according to charity, Citizen’s Advice.
Recent research found eight in ten people were paying a significantly higher price, in at least one of the markets, just for remaining with their existing supplier.
“The practice of overcharging loyal customers is widespread and Citizens Advice has repeatedly warned that loyal consumers are being ripped off,” its Chief Executive Gillian Guy said.
These customers are being overcharged to the tune of 4.1 billion pounds a year and in light of these findings, it’s caused the charity to raise the issue with the Competition and Markets Authority (CMA), in the form of a Super Complaint.
Complaints of this nature raise any feature, or features, of a market for goods or services which appears to be significantly harming the interests of consumers.
“As a result of this super-complaint, the CMA should come up with concrete measures to end this systematic scam,” Citizen’s Advice Chief Exec, Gillian Guy said.
The CMA is considering these concerns and has said it will consult with regulators such as the Financial Conduct Authority (FCA) and Ofcom. It will publish a response within 90 days.
Possible outcomes of this consultation may include a recommendation to change legislation, action by sectoral regulators and competition or consumer enforcement action.
The FCA said it has been concerned for some time about the issue of long-standing customers being charged more for some products than new ones.
“Citizens Advice have raised a number of important issues and we will work closely with the CMA as they investigate this super-complaint,” FCA Chief Executive Andrew Bailey said.
This is the fourth super-complaint made by Citizen’s Advice since being given the power to do so in 2002.
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