Monday, 25 October 2010

Does Your Telecom provider owe you money?

Ofcom has said that telecoms customers should ensure they claim back any money owed to them when they switch contracts, reports BBC News Online. According to Ofcom, over the last couple of years around two million people have left about £10 million in their old accounts.
How is it possible to leave money in an old telecoms account? The money is largely down to line rental which has been paid for in advance or promotional credits which were offered at the start of a contract. Ofcom says its suggestion applies to mobile and landline services, broadband connections and pay TV.
In an ideal world companies should automatically refund money owed but until now Ofcom said only three companies had done so. According to BBC News T-Mobile has said that it will now repay money owing to customers and Vodafone will also do so for direct debit customers.
Virgin Media and Virgin Mobile will only refund amounts larger than £1 from the beginning of December while O2 will credit amounts of £20 and over. Despite Ofcom’s recommendations the regulator says Sky, Talk Talk and Three still want customers to get in touch with them to ask for refunds.
The chief executive of Ofcom, Ed Richards said “Consumers were telling us that they found it difficult to claim unused credit from their providers when they left their contracts”. He added “Taken together, people have been millions of pounds out of pocket as a result. We hope that automated refund processes, clearer signposting by providers and our new consumer guide should help consumers claim back money that is rightfully theirs”.
So if you have switched providers and think your previous supplier owes you money get in touch with them to ensure they refund the money owed to you.
Source: BBC News Online