Competition works best when you shop around. Businesses need to offer you good value for money if they want to keep you as a customer or win you over as a new one. Make this work in your favour to get a better deal for your everyday services.

By switching your telecom, insurance and banking providers or renegotiating your contracts, you can take advantage of competition to lower your monthly bills and get better products and services. 

The Competition Bureau surveyed Canadians who recently made the switch or renegotiated their contracts, and asked them to estimate their yearly savings. They reported saving hundreds of dollars per service, with combined savings totalling around $1,860 per year across 6 key services: cell phone, internet, television, home and car insurance, and banking.

During the week of January 18, follow their campaign and make service providers compete for your business by following five easy steps:

  1. Determine the best time to make the switch. This may be when your contract is about to expire or at a time of year when there are good deals for a particular service.
  2. Review what your current plan includes and compare it with other available plans.
  3. Consider switching providers or using better offers to renegotiate your current contract.
  4. Set up your new service and cancel the old one, being mindful of contract terms and deadlines.
  5. Set reminders to review your services. Are you still getting the best deal?

What will you switch?

Time to look at your invoices to see if you can get a better deal. We are going to do that and get back yiou!

For more practical tips and tools to help you make the switch, follow the Competition Bureau #SwitchWeek posts on FacebookTwitter and LinkedIn during the week of January 18.

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The Competition Bureau, as an independent law enforcement agency, ensures that Canadian businesses and consumers prosper in a competitive and innovative marketplace.