Martin Lewis' MSE's two-day £79 payment warning to anyone with an Amazon Prime account

The website founded by Martin Lewis, Money Saving Expert (MSE), has issued an urgent two-day warning to anybody who has an Amazon Prime account. It comes after Martin sent out a warning message last month.

The MSE site says people with Amazon Prime need to act fast if they don't want to end up paying more than they have to. Last month, Amazon Prime confirmed it would be hiking prices for all customers.

From September, the monthly membership price increases from £7.99 to £8.99, and annual membership from £79 to £95."

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The new rates will kick in from September 15 for new customers, or on the date of your next renewal. In a post on the MoneySavingExpert website, Martin explained how this date is crucial for those who want to keep Amazon Prime.

As the online shopping giant won’t take payment until your current month's subscription has finished, you have until 11.59pm on Sunday, August 14, to lock in a lower price on a yearly package. This applies to Amazon Prime customers who pay monthly and who can afford to fork out £79 on a yearly deal.

You won't be able to carry on at the lower monthly cost. The warning from Martin was published last month but was flagged again in this week's MoneySavingExpert newsletter.

“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,” said Martin. For annual subscribers, Martin explained that you need to contact the Amazon customer service team before September 15.

You should ask them to “end benefits immediately” and then