Monday, 20 October 2014 21:17

Price Comparison Sites - Earn More Than Payday Lenders

Yesterday the news broke that "Price Comparison" sites were not showing their customers the best deals and were instead showing them the ones that paid them the best commission rates.

This is something we warned our customers back in 2011 - this isn’t news at all.

Price comparison sites make more per customer than Payday Lenders. Martin Lewis and co may wash the hands of the rogues in their game but they Lewis and co were the ones who were pocketing commission from the price comparison sites. They were the ones who sold the comparison sites advertising space on Money Saving Expert etc.

The big story here is why this has only recently become news, we knew this was happening back in 2011 and 2012. That is probably an easy question to answer, the TV companies were making millions in advertisements from price comparison sites . Why would they blow the whistle?

At the end of the day, when you switch, the price comparison sites get paid a kickback of around £60 from the utility company. This £60 comes from the utility company, this utility company gets the £60 from people like you which is in your bill.

We call on the Government to set up a free service that is totally impartial and wipes out the scammers in the price comparison sector. These make far more from the poor and vulnerable than any Payday Lender ever did.

1 comment

  • Comment Link Wednesday, 29 June 2016 12:38 posted by Carl Jones

    This does not surprise me as I went through a comparison site and once the insurance documents came through I noticed I had been charged a fee and I didn't know what this was for, the site I had gone through had asked me what date my licence was valid from which I had filled in correctly what was on my photo card where it states the license valid from date. I rang the insurance company and they advised me the fee was because I had filled out the online form incorrectly they said they actually wanted the date I passed my test so the £50 admin fee was because of that, I argued it out and said this is not how the online form on the comparison site worded it I then said if u go on the site now and do a quote you will see, he then agreed with me that it was misleading but they could not refund the fee I then complained to the comparison site itself explaining the situation they did look into this deeper and in the end I got a refund from the insurance company had I not persisted I would have got no refund and I bet there are people out there who this will be happening to and who have not noticed, looks like they get money out of us all ways they can probably like you say to get more commission I will definitely be checking my documents from now on if I use these sites again.

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