MSE News: Government calls for utility and bank industry to make switching simpler

Former_MSE_Paloma

Switching between utility suppliers should become quicker and easier under proposals unveiled by the Government...

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Government calls for utility and bank industry to make switching quick and easy




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modsandmockers

The banks, bless their cotton socks, have made switching very easy indeed - it takes a maximum of 7 days, and they do everything. I've done it twice, with no problems at all. They say that the banks' current accounts are not competitive, but several of them offer 3-5% interest. What more can the banks do?

But - energy companies, eat your hearts out!

Bluebirdman_of_Alcathays

modsandmockers wrote: »

The banks, bless their cotton socks, have made switching very easy indeed - it takes a maximum of 7 days, and they do everything. I've done it twice, with no problems at all. They say that the banks' current accounts are not competitive, but several of them offer 3-5% interest. What more can the banks do?

But - energy companies, eat your hearts out!

Agreed they could do more, but it isn't that hard to switch energy supplier, it just takes about 15 minutes of effort, as opposed to 2 minutes with banking.

naedanger

Bluebirdman_of_Alcathays wrote: »

Agreed they could do more, but it isn't that hard to switch energy supplier, it just takes about 15 minutes of effort, as opposed to 2 minutes with banking.

That may be the case if things are administered as they should. However I know from experience it can take much, much longer. Npower took over a year trying to switch my accounts. The amount of bother they created for me was considerable.

So I welcome the proposals, particularly:

"There should be an effective process for consumers to get redress if anything goes wrong in the switching process."

Consumerist

More government promises. We all know that nothing significant will come this public consultation. First the consultation then the deliberation then the delay in reporting their findings then more complication in the name of simplification.

Have we not learned our lesson regarding politicians sticking their arrogant noses into and making promises about things they do not understand.

Little will change and what does change will be hailed as a major success whether it fails or not.