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Zopa launches energy switching service

Written by: Emma Lunn
Peer-to-peer lender turned bank, Zopa, has launched an energy comparison and switching service.

Zopa is partnering with Decision Tech, part of the MoneySupermarket Group, to deliver the in-app service which it says will help customers get more for their money.

You don’t need to be an existing Zopa customer to use Zopa’s energy comparison service, but you need to download the Zopa app.

You can find your individual energy offers by entering your postcode into the search tool and confirming your current energy deal.

Zopa will then list energy providers available to you, and indicate the amount of money you could save by switching tariffs.

You then need to choose which provider you would like to switch to, and Zopa will arrange the changeover.

Zopa says the whole process takes about three minutes. If customers don’t find the right deal for them, alerts can also be set up so Zopa can share better deals available in the future.

According to MoneySupermarket data, switching to a different energy provider could help people save up to £286 a year on their energy bills.

Clare Gambardella, Zopa chief customer officer, said: “People are generally reluctant to switch energy providers, but it is one of the easiest ways to cut down on monthly outgoings. We wanted to make it as simple as possible for people to identify how much money they could save on gas and electricity so that they can feel good about their money as they head into 2021.”

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