Mobile users 'failing to pick up £1.5bn in savings'
By myfinances.co.uk staff
Around 40% of the UK's 46 million mobile phone users are missing out on savings of £1.5 billion a year because they have never switched networks to get a better deal.
Research from uSwitch.com shows that 24 per cent of mobile customers - around 11 million people - have changed service providers in the past 12 months, cutting their annual bills by a total of £895 million, or an average of £81 each.
However, more than 18 million have never changed networks, with 2.4 million fearing it is too much hassle and 1.8 million incorrectly assuming that they would lose their mobile number.
In fact, uSwitch.com said, numbers can be switched between providers if consumers request that the network they are leaving passes of an authorisation code known as a PAC to their new service.
The comparison site noted that while this process can take a matter of hours in Australia, the United States and Ireland, it can be up to six days before it is completed in the UK.
According to Consumer Focus, there are currently over nine million different deals available on the mobile market.
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