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Subscription Management Apps: Quick Comparison But in-app advertisers and other third-parties like Plaid-a tool commonly used by other companies to link your bank account to their apps and which secures your bank account info off-site-will also track and store user information. Most apps use cookies to track user behavior, including information like web browsing data. From bank account numbers and credit card numbers, to Facebook account information (if you choose to log in through your social media account) and various passwords, loads of sensitive information can be stored in the app’s database and represent a major security risk for users.

There’s also some security risk involved with using an app to manage subscriptions: And those budgeting tools aren’t particularly effective if you don’t link all of your financial accounts, and take time to label and track various spending categories. Most apps also provide budgeting tools, however they’re nearly identical to the tools now included in many mobile banking apps. A 2021 survey from Deloitte found that 46% of people who used streaming services had canceled at least one of them in the previous six months, and 43% canceled on the same day they decided they didn’t want the service.īut for someone who isn’t quite as quick to cancel, a subscription manager could remind you to unsubscribe and save you the hassle of reviewing each of your financial accounts (although regularly reviewing your account statements is a key habit for good money management).
#Cancel itunes subscription apps how to#
While many people let these charges go unmanaged, nearly half of all consumers know exactly when and how to cancel a subscription. Subscription management apps do something you can do yourself for free: They review account statements and identify recurring charges. Enter your financial account login credentials and follow any additional required steps to authenticate your identity. The more you add, the more subscriptions the app can identify. You may be required to link a checking account, but you can choose to add other accounts, too. Note that some subscription managers can be used in a web browser. Setting up a subscription management app usually requires these steps:
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But users have to grant access to a lot of sensitive data, and you typically have to upgrade and pay a fee to get the apps to cancel your subscriptions for you.

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Generally these apps are free and come with a few complimentary features, such as budget tracking tools. Subscription management apps monitor your financial account transactions to identify and notify you of recurring charges. When asked how much they were paying, consumers underestimated their subscription costs by an average of $133 a month, or $1,596 per year, according to a study by C+R Research.Įven worse: The same poll found that 42% of people had stopped using a subscription but forgot they were still paying.įor consumers who want help tracking and canceling those payments, a subscription management app could be the solution. You might be spending a lot more on subscriptions than you think.įrom Amazon Prime to Spotify and countless other services, the average consumer now juggles five retail subscriptions for items like makeup, clothing or wine, and nearly five paid streaming subscriptions.
