Millions switching product provider, says MoneyExpert

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Millions switching product provider, says MoneyExpert

Thu 25th Jan 2007

It appears that loyalty is being replaced by frugality in regards to the British consumer with tens of millions switching providers in the past six months, price comparison website MoneyExpert has discovered.

A total of 23 million have ditched providers in this period in favour of securing a better deal for their money across a range of products and services including energy suppliers, credit cards, bank accounts and mobile phones.

The situation has been hailed by Sean Gardner, chief executive of MoneyExpert and he has called on more people to weigh up the nature of their present deals and consider switching product provider in search of a cheaper deal.

Mr Gardner said: "Consumers have been voting with their feet. No provider is safe from the axe if they don’t have a competitive product or good customer service. Customers aren’t shirking from moving on if they’re not happy."

Electricity providers have seen the largest number of switching deals going ahead with almost 3.9 million households changing supplier in the last six months, this equating to 16 per cent of all UK households.

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