Energy firms to pay customers compensation for switching errors
Ofgem has announced, that, from May, if a switch of gas and electricity to a new provider goes wrong the customer will receive automatic compensation of £30. The payment will be made if the switch is not completed within 15 working days or if the old supplier fails to provide a final bill within 6 weeks.
RBS Group to change its name to NatWest
Royal Bank of Scotland (RBS) Group has announced it is going to rename itself NatWest Group later this year.
Consumer contract changes ‘could save customers money’
Broadband, TV and phone customers will have the opportunity to avoid price increases when their contracts end under rules which took effect on 15th February, 2020. Service providers must now contact customers between 10 and 40 days before their contracts are due to end, giving details of:
The rules have been introduced to enable customers time to find a new deal with a different service provider, or negotiate a better deal with their current supplier.
BT to charge people £50 for keeping old wi-fi routers
BT is to charge new customers up to £50 if they do not return their their equipment at the end of their contract to try and aid sustainability and reduce waste. Since December, BT’s contracts have stated that the company retains ownership of the wi-fi routers and TV set-top boxes it sends to customers. This will eventually apply to EE and Plusnet customers too. Keeping the BT YouView set-top box will cost between £60 and £115. BT has said customers would not be charged up-front fees for a router or TV box. Virgin Media has a similar policy.
Research by Action for Children suggests young carers spend an average of 25 hours a week looking after family members, the equivalent of £12,000 a year on a part time carer’s wage.
Moneybarn fined £3m for treating borrowers badly
Car finance company Moneybarn, owned by doorstep lender Provident Financial, has been fined £2.77m for not helping customers who fell behind with loan repayments while in financial difficulties. The company failed to communicate clearly to financially struggling customers what their options were for exiting their loans and the associated financial implications, which meant many incurred high termination costs. All affected customers during the period 1 April 2014 and 4 October 2017 have been compensated.