Better money management is something most of us strive for these days. Shopping at cheaper supermarkets, eating less take-out food, cancelling unneeded subscriptions, and reducing the number of coffees we buy tends to be the way to start. But after that, we have to start looking at what we’re spending on the basic essentials such as energy providers to keep making savings.
In the past, it was an arduous task to hunt for lower-cost energy suppliers because we had to do all the work ourselves. This meant that most of us were paying more than we needed to. In recent years, comparison websites have reduced the amount of work we have to do by presenting us with tariff information from multiple energy suppliers on one page but it’s still easy to put this task on the backburner or forget about it altogether.
Thankfully, there is now a better option that works automatically in the background to make sure that we’re always getting the best deal. In fact, once your account is set up, you don’t have to do anything other than sit back and watch the savings continue to add up. This money-saving service is provided by Switchd.
What is Switchd?
Switchd is an automated energy switching service that compares energy tariffs on your behalf to make sure you’re always getting the best deal. Unlike comparison services, Switchd doesn’t just present you with the options, but instead takes care of the whole switching process for you so you’ll know you’re always getting the best deal.
How does Switchd work?
To benefit from Swtichd, you first need to sign up for an account online. At this point, you’ll be asked to enter a few details about yourself, your current energy tariff, and what you’re paying monthly.
One of the great things about Switchd is that they understand that everyone has different preferences when it comes to energy suppliers. Some people want to receive the lowest price possible and don’t care which service is providing it. Others would prefer to only accept a tariff from a supplier that deals in green energy.
At the point of registration, you’re able to inform Switchd of your personal preferences and the service will only look for switching options that match these. There’s no need to spend hours reading the small print of each supplier because it’s all done for you in advance.
Once you’re signed up, Switchd will check your meter to get an accurate picture of how much energy you’re using each month. This is important because it’s difficult to know how much you could save if you’re relying on estimates.
Your details are then used by an algorithm that searches over 26,000 tariffs on a regular basis to check that you’re getting the best deal possible. As soon as a new deal arrives that matches your preferences and will save you £50 or more, you’ll be automatically switched over to it by Switchd. There’s no need to mess around with things like payments or paperwork because this will be taken care of for you.
As a bonus, you’ll be notified about an upcoming switch via email and will have 14 days to let Switchd know if you’d rather not go ahead with it. You can also log in to your dashboard at any time to view your current tariff and other details. This means you’re always in control of the important stuff and can intervene at any time.
How much does Switchd cost?
There are four different options to choose from when signing up for a Switchd account:
- Free: Everything is free with this option. You’ll get the benefit of automatic supplier switching with a limited number of suppliers and live chat/email customer support.
- £1.99/pm: With this option you’ll get automatic supplier switching for all available suppliers and live chat/email customer support.
- £3.49/pm: At this price point, you’ll have all previously listed services included as well as phone support.
- 4.99/pm: All previous benefits plus the addition of Whatsapp support and a dedicated support agent.
You’ll notice that there’s a free plan available and might be wondering why you wouldn’t just choose that option. Switchd make it clear that they operate differently to free competitors who push deals to customers that provide them with the biggest commissions.
With the free plan from Switchd, you will only have access to a smaller number of suppliers because they need to make money and rely on commissions earns from recommending specific tariffs. Nevertheless, you’ll still save money by using the free service.
With the paid membership options, you’ll be given access to all the 26,000+ suppliers because Switchd are not relying on commissions to earn money from you. It’s good to know that any cancellation charges from suppliers are also factored into the savings so you won’t receive any unexpected charges.
Other things to note
It’s worth pointing out that you can cancel your membership to Switchd at any time.
If you have multiple properties, then you can track them all within one membership and don’t need to sign up for multiple accounts. Payments and communications for each property remain separate.
On average, customers are switched every 6-9 months and save around £400 per year compared to people who do not switch providers.
Switchd is the kind of service that’s worth signing up for. If you don’t want to pay for a membership, you can take advantage of the free option and still save money on your bills over the course of the year.
The fact that everything is automated makes this a no-brainer. Comparison websites are useful, but they do require a certain level of manual operation because they’re just comparisons presented on a screen. You still have to take the time to check for new deals and initiate the switching process yourself, and this is something many of us won’t do often enough to make it worthwhile.
With Switchd, the whole process is automated, so you’ll have peace of mind that you’re always paying the least amount of money possible for your energy usage. The only time you’ll manually intervene is if you want to provide meter readings, prevent a switch from taking place, or cancel your account.