earliest switch without exit fees

mr_accountant

i would like to find out when is the earliest switch without incurring exit fees.

currently with Ebico ends 10/4/20, so 49 days before is approx 22/2/20

if i switch to Avro (website states 3 weeks to switch) which would be around 18/2/20, does that mean exit charges are cancelled or can i only switch after the 20/2/20 to avoid the fees

TIA

Benight

mr_accountant wrote: »

i would like to find out when is the earliest switch without incurring exit fees.

currently with Ebico ends 10/4/20, so 49 days before is approx 22/2/20

if i switch to Avro (website states 3 weeks to switch) which would be around 18/2/20, does that mean exit charges are cancelled or can i only switch after the 20/2/20 to avoid the fees

TIA

Ofgem rules are that exit fees cannot be charged if the actual switch takes place within 49 days of the fixed contract end date.

But you cannot be certain when a switch will actually occur. So usually best not to switch until the window opens.

Also check your terms of the existimng contract carefully; some suppliers seem to be extending the exit fee free window

Streaky_Bacon

Good advice from Benight.

Most, if not all, suppliers seem not to perform the switch until the 14 day cooling off window has ended, so it would almost certainly be OK to start 63 days before your contract ends (so approx Feb 8th).