“Are You Ignoring Significant Personal Savings? The High Cost of Not Shopping Around in Ireland”

With rising costs of living, it’s essential to save wherever possible. One easy way to do that is by switching companies when it comes to your utilities or banking. Many people are hesitant to make the switch, often believing it’s too time-consuming or won’t make a noticeable difference. However, failing to make a switch could mean you’re throwing money away without realizing it. In this article, we explore how switching from utilities to banks could save you significant amounts of money and time, and how you can go about making the switch quickly and easily.


As prices continue to rise, getting value for money has become a priority for everyone. However, many people in Ireland are still neglecting the significant savings that can be made in their outgoings, potentially costing them thousands of euros per year. The Economic and Social Research Institute (ESRI) recently highlighted this issue in a report on Irish consumers’ reluctance to shop around. Despite reminders to switch utility providers as soon as the contracted lock-in period is over, only one in seven electricity customers and one in six gas customers in Ireland switched providers last year, even though the difference between the best and worst rates for electricity was €581 for the average user over a year. Shopping around is also recommended for financial services, particularly insurance. However, the ESRI found that people often fail to shop around when first opening an account or taking out a loan, and remain loyal to their bank even when customer service is poor. Switching bank accounts is a cost-free way to move on if you’re not getting a good deal or decent service, and the Central Bank has published a guide explaining the process.


In conclusion, switching providers for your utilities, insurance, and banking services is a necessary step to save money and get better deals. As these industries become more and more competitive, there is no excuse not to shop around for the best prices and services. Take the time to research and compare different options before making any decisions, and don’t be afraid to negotiate with your current providers. By doing so, you could potentially save hundreds, if not thousands, of dollars every year. So, don’t throw away your hard-earned money, switch providers today and enjoy the benefits of better deals and more money in your pocket!