Too many subscription payments? How to stop them
Steps to take to regain control over your subscriptions and stop those automatic charges
Dubai: Are your subscription payments spiraling out of control, leaving your finances in disarray? It's a common issue, as many people sign up for multiple services without keeping track of the recurring payments.
Do you know why this happens? It's on account of what is now widely referred to as 'subscription fatigue'. Fortunately, there are steps you can take to regain control over your subscriptions and stop those automatic charges.
Here’s some advice from personal finance experts Mohammed Shaan and Mirin Raul on how to manage and stop unwanted payments.
Cancel directly with the company
The first step is to contact the company providing the service directly. You can usually do this via email or phone call. Many services offer online portals where you can manage your subscriptions and request cancellations. If you can’t reach someone through the standard channels, follow up with your bank or card provider and ask them to stop the payments.Act before the next payment cycle
It’s essential to request a cancellation at least three days before your next payment is due. This will help ensure that no additional charges are made. If a payment is taken after you've requested cancellation, contact your bank as soon as possible. In most cases, they will issue a refund if the payment was processed after the cancellation request.Understand your contract terms
Before canceling, make sure you review any contract you may have signed with the service provider. Some subscriptions come with a minimum contract period, meaning you might be locked in for a certain length of time. If this is the case, you may need to pay off the remaining balance or wait until the contract expires. However, if there is no minimum commitment, you should be able to cancel without further obligations.
By taking control of your subscriptions and making sure you are not paying for services you no longer use, you can avoid unnecessary expenses and get your finances back on track.
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