Switching mobile phone provider with a single free text
Mobile phone customers can now switch providers with a single free text. Before 1st July, customers had to phone their mobile provider when they wanted to switch to a new firm and to get their porting authorisation code (PAC) to give to a new provider if they wanted to retain the same phone number. After sending a single free text, customers should be switched within one working day (however, there may be early termination fees if the customer leaves before the notice period of their existing contract). If mobile phone providers did not abide by the new rules, they could be subject to investigation and possibly even fined.
Children’s Funeral Fund
The government is to introduce the Children’s Funeral Fund to help families cover the funeral costs of a child. The fund will be available regardless of a family’s income. It will come into effect on 23rd July 2019 and aims to reduce the financial burden for families by reimbursing the relevant parties directly e.g. funeral directly.
Facebook to launch its own currency
Facebook is to launch its own digital currency next year, called Libra, which will allow customers to buy and sell goods and services online.