Things to consider before you switch - Online Centres Network



Unit 5-b – Performing an Online TransactionSlideTitle Content 1WelcomeNow we're going to have a go at doing some online transactions including any of the following:1. switching utility tariff2. switching utility provider3. changing your bank account4. changing a payment method for a provider5. purchase a white good online6. purchase online insurance7. purchase an online product or service2Which type of transaction would you like to find out more about and then try out for yourself?The learner then works through whichever section of the unit they are most interested in.3Switching utility tariff or utility providerIt pays to shop around. Ofgem research finds comparing and switching supplier or energy tariff can make a big difference to your gas and electricity bills – with annual savings of around ?300 available.If you’ve never compared energy tariffs or switched gas or electricity supplier, it may seem?a daunting process. But it’s actually quite simple. The main steps are:Step 1 – find out what you are currently paying for your gas and electricity, how much you use and what tariff you are on. You can get this information by looking at your bills, preferably over the last year (which should be shown in your annual statement from your energy supplier) or as far back as you can go. The tariff is the current deal that you have with your supplier. They usually offer a number of different tariffs and it's important to get the one that is the best deal for you. If you're not sure then the energy supplier should be able to tell you. Step 2 - check whether your current supplier can offer you a better deal.Step 3 – use an online comparison site to see what other better deals might be available to you with other energy suppliers. You can do this by clicking on any of the Ofgem recommended sites:ukpower.co.ukCitizens Advice can also check best deals for you at but unlike the other price comparison sites they can't then take you through making the switch to another supplierStep 4 – once you've chosen the supplier and tariff you want then you can click on this link on the price comparison site you are using and you will be taken through the steps that you need to follow to change your supplier. This change will not affect your supply of gas or electricity as all you are doing is changing who you are buying it from. It is still the same gas and electricity you've always had. You are just paying another company to provide it to you.The following detailed instructions will now take you through the process of checking for the best energy deal for you and if there is a better one available switching to that deal and supplier:You will need the following information: your postcode the name of your current supplier the name of the energy offer you're currently on and how much you spend on gas and electricity. You can find this information on your bills and annual statement. an up-to-date meter reading your bank details if you will be paying by direct debit your energy meter reference numbers, known as 'MPRN' or 'MPAN' numbers. Things to consider before you switchYou should check:whether you have a fixed-term contract that lets your supplier charge you a fee to leave - this is called an exit fee and you can check it on your?energy billwhat the?customer service rating?is like for the potential new supplierwhether your current supplier offers a cheaper tariff - it will save you the effort of switchingYou might not be able to switch if you’re?in debt to your supplier?or?you’re a tenant.If you have a?prepayment meter?you can switch supplier unless you?owe your supplier more than ?500 for gas or ?500 for electricity. How to switch supplierFollow these steps to switch energy supplier:Compare tariffs?from different suppliers.Once you’ve found one, call the supplier - they’ll set up the switch and tell your old supplier. Alternatively, you can?switch online Take a?meter reading?on the day of the transfer to give to your new supplier - this means they won’t charge you for energy used before the switch.Pay your old supplier’s final bill or get a?refund if you’re in credit.Once the switch has started, you’ll also need to give the new supplier your energy meter reference numbers, known as ‘MPRN’ or ‘MPAN’ numbers. This will make sure they switch your energy supply and not someone else's. You can find these numbers on?your energy bill.Remember that we did this in an earlier session when we had a go at using a comparison website simulator (see DMM – U2 Price Comparison Simulator)4Changing your bank accountHow to switch bank accountsBanks and building societies all offer a free seven-day Current Account Switch Service. It’s backed by a guarantee that means you’ll be refunded any interest and charges on your old and new accounts if anything goes wrong.These are the main steps in switching your account:1. Check you're able to switchThe Current Account Switch Service covers 99% of UK current accounts. The process is the same everywhere, so you can be confident when you switch, no matter which bank or building society you choose.?But you can't switch with a joint account without the permission of both account holders. You also can't switch savings accounts.2. Find a new accountThink about how you use your current account to find the best one for you. You'll find useful advice at websites such as the?Money Advice Service,?,?Money Saving Expert?and?uSwitch.3. Check you're eligibleCheck you're eligible for the current account you want to switch to. Common eligibility examples include having a minimum number of Direct Debits, and a set amount entering the account each month. You'll also need to agree any overdraft facilities you require with them before initiating the switch (subject to eligibility status). 4. Choose your switch dateTo make things easier, you can choose a switch date to suit you. Just make sure you allow seven working days for the switch to take place and that your chosen date isn't a Saturday, Sunday or Bank Holiday.You can continue to use your old account up until your agreed switch date. This includes any use of your cards, online banking, or mobile banking.?5. Open your new current accountTo start your switch, ask your new bank or building society to move your old account using the Current Account Switch Service. If you have agreed an overdraft facility with your new provider, then you may transfer any existing overdraft to the new account.*You'll need to agree to the 'Current Account Switch Agreement' and the 'Current Account Closure Instruction', both provided by your bank or building society, before the switch can go ahead.The whole process will be handled by the bank or building society you are switching to, and they'll let you know when the switch has started and when the switch has been completed. lefttopopens in new windowopens in new windowNow you can, if you wish, switch your own current account by clicking on and following the steps on the?Current Account Switch Service website. a payment method for a providerThere are a number of different payment methods available for services, including:* direct debit - paying by Direct Debit means your bills are paid on time, so you will avoid late payment charges. Some companies offer discounts for customers who pay by Direct Debit.Read more in?Direct Debits and standing orders.* online bank transfers If you bank online or by phone you can pay your bills directly. It’s quick and easy and you’re in control of exactly what you pay and when. But you have to remember to pay your bills in time.Find out more in?Making phone and online bank transfers* pre-payment meter for utilities - gas and electricity can be prepaid by topping up a key or a card which goes into your gas or electricity meter. This is one of the most expensive ways to pay for energy and when you run out of credit, you’re out of energy. HYPERLINK "; \l "what-if-i-have-a-prepayment-meter"Read more about prepayment meters. white goods onlineWhite goods are commonly understood to be large electrical goods used domestically such as refrigerators and washing machines, typically white in colour. You can buy any of these items online. To get the best deal you can look at the tips on then follow the following stepsStep 1 – go to online shopping tip 1 'find the cheapest online prices with one click' and then click on the link MegaShopBotStep 2 – find the category of items you are looking for from the drop down list in the box at the top of the page– in our case it's electronics and click on thisStep 3 – you will now see a selection of price comparison sites that offer the best prices for electronic items, with the one that moneysaving expert judge to be the current best one marked with a tick. At the time of writing this was pricerunner. Click on this link.Step 4 - you are now on the home page for pricerunner and can choose from a number of different items. We are looking at vacuum cleaners. You will see that they are listed under the heading of home appliances. Click on the heading 'home appliances'.Step 5 - on this page you will see a number of different things listed under t home appliances. Find and click on vacuum cleaners. This brings you to a page showing 6 different types of vacuum cleaners – you can click on any of these to find the best deal for the type you want. 7Purchasing insurance onlineHave you shopped around?Don’t compare on price alone as the cheapest policy isn’t usually the best cover for your needs, and it is important to compare both the price and the level of cover. Try to get at least three quotes.There are many different ways to buy insurance, here are the main ones:an insurance broker or independent financial advisercomparison sites and online insurersbanks and building societiessupermarkets and department storesDoes the policy cover everything you need it to?Read the policy document. At least check the features that are important to you in the policy summary. Otherwise, you are potentially wasting your money and might not be covered when you really need it.If you have already bought a policy, you have 14 days (30 days for life, income protection, payment protection and critical illness policies) to change your mind if you decide the policy isn’t suitable for you. However, for home and car insurance you might have to pay an administration charge and the cost of any days already covered.Have you answered all your insurer’s questions truthfully and accurately?Whether you’re applying online, by phone or by application form, make sure you take reasonable care to answer all the insurer’s questions honestly and to the best of your knowledge. If you don’t, your policy may be cancelled, or any future claim could be rejected or not fully paid parison websites cover different providers and products – remember not all providers appear on comparison sites. The Money Saving Expert website has done some research on which sites to use and in what order:How to compare home insurance, by (now owned by MoneySupermarket)How to compare car insurance, by (now owned by MoneySupermarket)lefttopopens in new windowopens in new windowHow to compare pet insurance, by (now owned by MoneySupermarket)8Purchasing an online product or serviceShopping and paying safely onlineOnline shopping is a great way to compare prices, pick up bargains and track down those hard-to-find gifts – and with a bit of know-how anyone can do it safely. Just stick to a few sensible rules and look out for warning signs to ensure a safe and secure online shopping experience.Safe shoppingThere are plenty of benefits to shopping online. You’ll often get the most choice, the best prices and can shop from the comfort of your own home.However, there are some guidelines you should follow to keep your online shopping experience as safe as possible.Research your retailers. If you’re using a website to buy something for the first time, do some research to make sure it’s a legitimate business. If in doubt, search for their details with Companies House. For financial firms, check that they’re on the?Financial Conduct Authority (FCA) register.Pay by credit card where possible. Credit cards give you more protection than other payment methods. You can find out more in?How you’re protected when you pay by card.Check the website is secure. Before you enter your payment details, you should make sure the website is secure. Scroll down to How to make sure you’re on a secure site for more details.Read reviews. If you’re still not sure about using a website, then search the internet to see what other people are saying about it.For more tips on keeping your online shop safe, visit the?Get Safe Online website.How to make sure you’re on a secure siteYou should only put your card details into sites that are secure. Otherwise someone could steal them and use them for fraud. On a secure site, you should see a few reassuring signs.The padlock symbol. Look for a padlock symbol in the frame of the browser, next to the website address. This suggests that the site is secure, but it’s not a guarantee, and it doesn’t mean that the seller is honest.The website address. The address in your address bar should begin https:// rather than http://. The S stands for secure.A green address bar. Sometimes on a secure site all or part of your address bar may turn green. This depends on your browser and the website, but it’s generally a good sign. Clicking on it will give details of the site’s security.A valid certificate. If you click on the padlock, or just to the left of the address bar, you should see information on the site certificate. This should tell you who has registered the site. If you get a warning about a certificate, be very cautious.You can learn more about secure websites in?Get Safe Online’s dedicated guide.What if something goes wrong?If you think your card has been used fraudulently let your bank know straight away so they can stop any further use of it.As long as you haven’t acted fraudulently or negligently, you will get your money back from your card company if your card details are used online by a criminal to commit fraud. Report it as soon as possible as than can be time limits for reporting (usually between four and six months).Now let's have a go at buying something online:Step 1 – choose a reputable retailer like Amazon – put their details into your search engine – you should see as their address come up as (the s tells you that it is a secure site)Step 2 – click on - this will take you to Amazon's home pageStep 3 – either type in the item that you are looking for in the search box at the top of the page or choose from the drop down menu on the left of the search box. You want to buy a DVD so you type this into the search box. This then takes you tp a page with links to the DVD store, new releases, top offers, movies , tv and box sets. You want to buy a gift for your mum and want to get a good deal so you click on 'top offers'.Step 4 – on the 'top offers' page you click on dvds for ?7 and under Step 5 – you see a selection of dvds and choose The Lady in the Van because you know your mum will like that. It's only ?4 and also has a 4 and a half star rating. You click on the link for this dvd.Step 6 – you are now on the page where you can buy this item by clicking on the 'Add to basket' box on the right hand side of the screenStep 7 – on the next screen you click on the 'proceed to checkout' boxStep 8 – next you will be asked to either sign into your account if you aleady have registered with Amazon or sign in as a new customer. To sign in as a new customer you will need to give some details about yourself and also choose a password for your account.Step 9 – you can then proceed to the payment page where you need to select your method of payment i.e debit card, credit card or paypal and delivery detailsStep 10 – once your order has gone through you will receive an email from Amazon confirming this ................
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