Britain losing over £10bn on wasted texts and minutes

The mobile industry is raking in £10bn every year from people only using two-thirds of their tariff, according to the third annual Mobile Money Report from moneysupermarket.com.

The study by the UK's leading price comparison website shows over 20 million adults are throwing away money on their tariff every month. Almost half of those with free minutes (46 per cent) waste 122 minutes every month, equating to over 24 hours a year. Similarly, almost half of those with free texts (48 per cent) waste 94 each month - over 1000 every year.

The situation seems to be getting worse with Brits losing out more than ever. Compared to the 2007 Mobile Money Report, adults are wasting almost a quarter more minutes and texts.

James Parker, mobiles manager at moneysupermarket.com, said: "It's clear from our annual research a significant amount of mobile customers are on the wrong tariff and, as a result, are throwing money away every month. Over 5.5 million adults don't even know what tariff they're on.

"Whilst it's always good to be under your monthly allowance and avoid any extra costs, it's important to get the most out of your contract. To do this you need to asses what your monthly usage is and find a contract that suits this best. If you're a heavy talker, look for a package with a bundle of free minutes. Alternatively, if you like texting there are plenty of unlimited text deals out there to suit your needs."