MoneySavingExpert has issued a new warning to Amazon Prime customers to act before the cost of their subscription increases as the deadline approaches to lock in a lower price.
The cost of a monthly Prime the subscription is set to drop from £7.99 to £8.99 per month, with the new prices taking effect from September 15 for new customers or on your subscription renewal date if you are an existing customer. The annual Prime subscription will also drop from £79 to £95.
Martin Lewis advised clients last month that they could avoid the higher prices by locking in a lower price with an annual subscription. MoneySavingExpert has now reported in its newsletter that subscribers have just two days left to follow the advice, The mirror reports .
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Martin urged customers on monthly subscriptions last month: “The best thing you can do – provided you can afford it – is to upgrade now to the annual plan and then lock in at £79 for the year next, preventing the rise.”
MoneySavingExpert explained that Amazon customers who pay Prime or Prime Student on a monthly basis and want to continue their subscription while avoiding the price hike must sign up for an annual subscription by Sunday, August 14. In effect, your monthly subscription is replaced by an annual subscription on the date on which your next monthly payment would have been due.
This means you will need to have changed your subscription from monthly to annual by 11:59 p.m. on August 14 in order to renew at the current annual price before it increases on September 15. All in all, this will save you nearly £30 a year. compared to what you would have paid over 12 months at the new monthly price.
Martin Lewis explained that annual subscribers should contact Amazon’s customer service team by September 15, and MoneySavingExpert advised to cancel and re-subscribe at the lower price. They also said that Amazon can offer full or partial refunds on your subscription if you haven’t used your Prime subscription.