£100 cap on bills if your phone is stolen
UK networks EE, O2, Three, Virgin Media and Vodafone will only charge their customers £100 against their bill if their handset is stolen. You'll need to report your phone stolen within 24 hours to both network and police to be covered though.
It's not law mind, all the networks are doing it on a voluntary basis. It is though good news as if someone with sticky fingers takes your phone they'll probably ring a premium rate number to mame money or have a chat with friends abroad.
Pay As You Go won't be covered under the new scheme as they only carry a limited amount of credit and a bill can't be run up.
A whopping 300,000 handsets are stolen each year according to the National Mobile Phone Crime Unit (NMPCU) with Citizens Advice says seeing some turn to them for help with bills reaching up to £23,000 .
Three introduced this protection for its customers in January this year with EE introducing it in the coming weeks. Those of you on O2 will be covered from September 2015. Virgin Mobile will cover you from July and the summer will see Vodafone introduce the cap.
Tesco already cap their contracts at £50 so you can't go over that amount and for those of you on Giffgaff there is no contract in place so if you contact them and the police you'll be seen right.
This is all part of a new Code of Practice that the networks have signed up to. As part of that the following need to be made clear to customers. Much of it is common sense.
Out of bundles charges – by providing clear and transparent pricing information, alerts when they reach data bundle limits or the ability to monitor usage.
Roaming – providing information on how to turn off data roaming and avoid roaming charges.
Premium Rate Services and in-app purchases – provide a barring function so consumers can protect themselves against unauthorised or inadvertent calls to premium rate voice services, and protections against in-app purchases.
Keep in mind though your data could prove the most valuable to a thief. Pictures, passwords and login details to online banking and other accounts do get stored on our phones and on the black market they are worth thousands.
Using sim and phone codes to get access is a very good way of keeping your phone, data and bank balance safe. Downloading Android Device Manager also enables you to wipe your data if you handset goes missing.moneysavingexpert.com