Martin Lewis issues two-day warning to millions of Amazon Prime subscribers
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The money-saving expert has alerted users to a way to keep your Amazon subscription at a lower price after the retail giant announced plans to raise Prime subscription prices for the first time since 2014.
Customers should get ready for Thursday, 15 September, because Amazon is expected to hike up its prices by £1 a month.
While that might not sound like a lot, the yearly cost of Amazon Prime will go from £79 to £95, which would easily pay for your takeout this weekend.
And, with the cost of living crisis in full swing, we'll take any help we can get.
So, what is Martin's advice? Well, if you act quickly you might actually be able to lock in the lower Prime price for another year.
Amazon Prime to hike price.— Martin Lewis (@MartinSLewis) July 26, 2022
On 15 Sept, the monthly membership price increases from £7.99 to £8.99, and annual membership from £79 to £95.
If you currently pay monthly, and want to keep it, if you can afford switch to annual now, to get next year at £79.
How? Well, as Martin explains: "if you currently pay monthly and you want to keep it, then the best thing you can do – provided you can afford it – is to convert now to the annual package and then you lock in at £79 for the next year, forestalling the rise."
For anyone wondering how to switch from a monthly membership to an annual one, just log into your account, click 'membership', and then 'see more plans' pick the option you want, and you should be well on your way to saving money.
However, if you are already an annual subscriber, things become a little more tricky.
These tactics, while helpful, will only stall the price hike for another year.
So, an important thing to consider now is, do you need Prime?
While the service offers you next-day delivery and priority deals, you only need one subscription per household.
So, double check that you haven't got multiple accounts for one address, and if you do, it's quick and free to cancel one of them.
If you've not yet used Prime's services, you might be able to claim a full refund, with Amazon potentially offering partial refunds depending on what services you've used.
Featured Image Credit: PA Images / Alamy Stock Photo Simon Dack / Alamy Stock Photo
Topics: Amazon, News, Money, Martin Lewis, UK News