Switcher.ie’s latest survey of early exit fee awareness and costs for consumers in Ireland was released today. Some of the findings included:

  • Almost three-quarters (74%) of consumers are in the dark about early exit penalties on their contracts for household essentials – 33% don’t know if they would incur a penalty, while 41% are unsure of the amount
  • Nearly all broadband, phone and energy companies charge early exit fees, which can amount to hundreds of Euro, depending on provider and service
  • Switcher.ie encourages consumers to pay special attention to the minimum term, discount period and early exit fees when they’re signing up to any contract.

Magnet were shown to be the only telecoms provider not to charge early exit fees for terminating its broadband services, with others charging between €150 and €299.70.

Mark Kellett, CEO, Magnet Networks said:

“We set out to make it attractive to stay with Magnet, rather than unattractive to leave, by providing contract-free broadband and the most competitive broadband rate at €41.99 for 24Mb. To win customer trust you must provide transparency, choice and control.Mark Kellett_CEO Magnet (10)[1] copyHe adds: “Our customers really value the flexible, no-strings-attached nature of the product, with the majority remaining loyal to us despite being able to switch without penalty. Rather than an ‘us-versus-them’ tug of war with customers Magnet adopts a ‘we’ mentality, where it’s a mutually beneficial relationship for both sides.”

For more information https://www.magnet.ie/residential/

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