Who Watches The Watchmen!

by RinggitPlus Team

Bank News

UK Regulator lays down the law to Price Comparison Websites.

Office of Fair TradingEveryone loves Price Comparison Websites, they offer simple tips on saving when you shop, pay bills or borrow money. Obviously, we’re big fans here at RinggitPlus.com because that’s what we do too – help customers get more for their money – but who checks the price comparers to make sure their advice is accurate?

The UK Office of Fair Trading recently issued a report on Price Comparison Websites highlighting steps consumers should take to make sure they get the best value from these services. By their estimation, the general public over there are missing out on £240 million of savings every year by not comparing prices before they shop.

Speaking to The Daily Telegraph, Consumer Affairs Minister, Jo Swinson, said:

“Price comparison websites have played a huge role in empowering consumers to make better, more informed choices. When a consumer uses these popular and well known sites they believe they are being savvy shoppers, and it’s important that their trust is well-founded.”

The report itself points out that some UK websites could do a lot more to improve the service they offer, stating that Price Comparison operators should:

  1. Ensure that Privacy Policies are clear.
  2. Be clear about the way search results are presented.
  3. Be clear about the nature of the search.
  4. Ensure that there is a clear complaint and redress process.
  5. Ensure clear identification of the business operating the website.

The RinggitPlus.com Team agree with all of these recommendations, they are among the principles we are following as we build our website and help Malaysians find the best deals.

Image: Office of Fair Trading