It’s going to look at how well the sites such as Moneysupermarket, Uswitch and GoCompare can be trusted. The CMA wants to look into if consumers should be made aware of how sites earn their commission after it emerged that consumers are not always made aware of the cheapest deals on price websites.
Companies often pay a fee of around £30 to a comparison site for each new customer they gain.
The CMA will examine four areas:
- What consumers expect from comparison tools, how they use them and their experiences
- The impact of such tools on competition between suppliers listed on them
- How effectively comparison tools compete with each other
- The effectiveness of existing regulation
But, one energy provider said the CMA was clueless about comparison sites.
How transparent are you with your pricing and the value that your customers get? There’s always an argument that I hear between whether you should display your prices on your website and literature or keep them hidden so it generates a phone call.
Do you have any hidden charges and do your customers know about different costs that you may charge? Customers don’t like to be surprised. Especially when it comes to money!
If you are a customer of Great Elm Bookkeepers you can relax knowing not only that we have no hidden costs, but also that we offer a Guarantee to all our customers. That guarantee is…
“If you are not satisfied with our work, we will refund your money!”