The practice of penalising customers for being loyal is coming under major attack in the UK, where utilities, mobile phone companies and insurance firms have been particularly culpable. Financial services are not without fault either and last month a ‘super complaint’ was lodged by Citizens Advice to the Competition and Markets Authority which estimated savings customers had lost out on more than £800 million since September 2018. The CMA claims that as with other sectors, higher rates … [Read more...] about Fintech startup offers automatic switching to best rates – to guard against ‘loyalty penalty’
