CHOICE partnered with group switching specialists One Big Switch in the CHOICE Big Bank Switch campaign, which ran from 31 July to 14 August 2011.
Over two weeks, the campaign attracted more than 40,000 registrations from consumers, showing a strong appetite in the community for group switching.
Following the campaign, One Big Switch negotiated with lenders to try and achieve genuine group discounts, and offers were sent out from 28 September 2011.
Early indications are that over 2,000 people went on to have discussions with Big Bank Switch lenders, and stand to save an average of $375 each, while feedback suggests that many, many more used offers from the Big Bank Switch to demand better deals from their current lenders.
CHOICE will receive a fixed $250 per switch that will help pay for the running of the campaign, and we will publish final results from the campaign when all switches have been completed.
CHOICE has not joined in any campaigns with One Big Switch since the Big Bank Switch ended on 14 August 2011, and is not involved in any current group switching around mortgages, energy, or any other products.
However, as we found through the CHOICE Big Bank Switch, we believe that group switching has great potential to create savings for consumers in essential areas like banking products and energy. We hope to see many more businesses use the power of group switching and group buying to secure benefits for consumers.
Further, if you are receiving communications from One Big Switch and wish to unsubscribe, you can contact them through their website at https://www.onebigswitch.com.au/users/sign_in.