How to cancel broadband (avoid paying exit fees)
There are many reasons why you might want to cancel broadband. You might be experiencing poor speeds, seek to benefit from a bundle that includes TV and landline or have discovered a cheaper deal on a price comparison website. However, whether you’re looking to cancel sky broadband or services from another provider, you’ll want to close your contract without paying a penalty. Read on to find out more.
When can you cancel for free?
There are many ways that you can exit your broadband contract without paying a fee. First, when you enter into a new contract for broadband services you have 14 days to change your mind, commonly called the cooling-off period. Some companies will offer a longer term than the standard two weeks, so check your contract to check if you can benefit from this option.
Standard of service not being met
When you sign up with a broadband provider, they will specify the minimum speeds offered for download and upload. If the service that you are paying for fails to meet these requirements, you may be able to cancel your contract without paying additional charges. Many major companies guarantee that their customers can cancel for free in such circumstances including Sky, BT, Plusnet, Virgin Media, and EE.
Remember when your contract ends
When you cancel before the full duration of your minimum contract, companies can charge you an exit fee. For example, BT early termination charges are worked out by taking the amount remaining that you would pay if you stayed with them and deducting VAT and the costs saved by your early departure, plus a one percent discount when your final payment is completed early. VAT is then added back on again.
However, if you’re outside of your broadband contract’s minimum term you can leave freely with no termination charge. Broadband minimum contracts are typically between 12 and 24 months. If you are unsure when your contract comes to an end, contact your provider.
What are the signs that you should cancel?
Near the end of your minimum contract length, it can be worth shopping around for a better broadband deal. If you have received poor service or slow speeds and your provider has not offered solutions, it’s probably time to cancel. Periodically providers will push up their prices, if you find a cheaper option and your service won’t match it, switching can be a wise move
How much notice do you have to give the provider?
Most broadband providers will require you to inform them of your wish to cancel by giving at least 30 days’ notice, but it’s always worth checking the terms and conditions of your contracts first.
How do I cancel my contract?
Cancelling a broadband contract is not a tricky task. Contact your provider by phone or email and inform them of your decision.
As you can see there are multiple ways you can avoid paying an exit fee when you cancel your contract. Consider the above information before making the move to call your provider to ensure you don’t spend unnecessary charges.