Jenni Allen, Managing Director, Which? Money, said:
“It is right that the CMA has recognised the sheer detriment this unfair practice causes many consumers, costing billions of pounds a year. Today’s announcement must lead to concrete results to stop customers being hit with these excessive charges. All the relevant regulators must act urgently to bring about an end to this bad practice.
“While we await the necessary action we would urge consumers unhappy with their current provider to consider switching to a better deal – a few minutes of your time could potentially save you hundreds of pounds a year.”