Mobile users waste free minutes
Brits with mobile phones waste over 100 inclusive minutes every month, according to uSwitch.Although two-thirds of contract-holders receive an average of 257 peak and 257 off-peak minutes included in their monthly charges, only two of the six main service providers offer a rollover system.The average monthly contract also includes 299 peak texts and 244 off-peak texts, yet 73 of these are unused by the end of the month.This means that people on mobile contracts are wasting about £50 each on unused minutes and texts every year, according to uSwitch. Even though people on monthly contracts don't use all of their allotted free time, users tend to spend just over £6 more per month on non-inclusive minutes and text, which means they may be on inappropriate deals. Chris Frost, mobile phone expert for uSwitch.com, said: "This research brings into sharp focus the true cost of locking into what is often an 18-month contract period without understanding whether the tariff is right for your personal needs. Over the course of a contract consumers can be forking out almost £80 more than they need to. "Our research findings show that mobile contract customers are inadvertently losing out financially in two ways. Not only are we failing to take full advantage of our 'free' minutes and texts; on top of contract costs we are going on to pay a further £56 million collectively for non-inclusive texts and talk time."
Share this..
Related stories
British Airways under more pressure
Yesterday's attempted terrorist attack on a plane bound for the US has led to a massive crackdown on security and substantial delays on all flights to the US. The US authorities have pushed through a number of immediate security "improvements" which will see hand luggage restrictions put in place and see companies such as British Airways incurring significant costs. This could not have come at a w...
Read MoreGoldman Sachs faces £20 million fine
Goldman Sachs, the US financial giant, is on the verge of being handed a £20 million by the Financial Services Authority (FSA). It is believed that the FSA began an investigation into Goldman Sachs mortgage backed security operation in light of fraud charges which were launched in the US by the Securities and Exchange Commission. The company was fined a record $550 million by the SEC with the com...
Read MoreIs EMI in imminent danger of collapse?
Music giant EMI is on the verge of collapse after announcing pre-tax losses of £1.75 billion for the current year. The company was acquired by Terra Firma, the investment vehicle of Guy Hands, who is a well respected investor in the City. However, his acquisition of EMI has turned sour with the company on the verge of breaking banking covenants and in danger of being taken over by the banks. G...
Read MoreGordon Brown supports the continuation of the FSA
At a time when the FSA is under extreme pressure regarding its lack of regulatory prowess in the UK markets, Gordon Brown has come to its defence by suggesting that the FSA needs strengthening not abolishing. This is most definitely a very different view to that aired by many in the financial markets in the UK who believe that the FSA, after various expensive re-organisations over the years, is a...
Read MoreUK savers concerned about future outlook
David Cameron the leader of the Tory party has been very vocal over the last few days in his belief that UK savers should be protected from falling interest rates and falling income streams. He believes the government should bring in tax relief on interest earned so that savers are able to maintain a steady income to avoid financial hardship.
This is the latest in a number of potent...