Looking for an App That Cancels Subscriptions? Here’s What You Should Know
As more and more companies switch to the subscription business model, customers may find it harder to track where their money goes. In a 2023 Forbes survey, nearly 50% of participants admitted to paying for a streaming service they hardly or never use.
If you’re experiencing subscription fatigue or spending money on a service you no longer need, an app that cancels subscriptions could help you out. It may save you time and effort, sparing you from having to cancel each service individually.
Before you dive head-first into another subscription, read this guide to find out more about subscription management apps. You’ll learn which apps are trending today, potential drawbacks they may have, and how to stop recurring charges in alternative ways.
Note that the content in this article is valid as of December 2023. Please visit the official websites of the below-discussed services for the most up-to-date information.
How Do Subscription Management Apps Work?
Apps that manage subscriptions typically require you to connect your financial accounts so they can gather information such as:
- What subscriptions you’re paying for
- How much you’re paying for them
- When each payment is due
Besides providing a centralized view of your recurring charges, these apps may send reminders for upcoming payments, notify you of price increases, and include additional features to help you with budget management. Many subscription management apps have free plans that allow you to track subscriptions, but you typically have to pay extra or upgrade to a paid plan for the app to cancel subscriptions for you.
How To Set Up a Subscription Management App
Each subscription management app has its specific setup process, so you should refer to the official instructions of the app you want to use. Generally, a few things may be required:
- Installation—Download the app or visit the website on a browser if the tool is web-based.
- Signup—Create an account and set a unique password.
- Account setup—Link a checking or credit account or upload a photo of your bill or statement. Some apps may also allow you to connect your PayPal, Cash App, Google Play, or any other account containing information about your recurring payments.
- Authentication—Verify your identity using one of the provided methods. Since subscription management apps deal with sensitive data, they usually need to confirm it’s you before allowing access.
Six Apps for Subscription Management and Cancellation
The following sections will explore six popular apps for subscription management, particularly:
- Trim
- Rocket Money
- Hiatus
- Subscription Stopper
- PocketGuard
- Bobby
You’ll learn about their most notable features, availability on different devices, security measures, and pricing. With all this information in mind, it should be easier for you to decide which one’s most suitable for your needs and budget.
Trim
Helping save a total of over $86 million[1] for its three million users, Trim is an accessible financial tool that can gather all your subscriptions in one place and cancel them for free.
You can register using your email address, Google, or Facebook account. The company will also need your phone number for identity verification purposes. Once you’re in, you can either upload a photo or PDF of your bill or connect your bank account or credit card. Trim’s algorithm will analyze your transactions, identify recurring charges, and monitor them in your stead. Besides helping you manage subscriptions, Trim can negotiate your cable, phone, and Internet bills.
The company keeps your sensitive data secure with bank-level encryption on its website and databases[2]. Your transactions are read-only, and Trim can’t view, store, or use your passwords. Two-factor authentication helps ensure your account further.
Rocket Money
Formerly known as Truebill, Rocket Money is an all-in-one financial management app that can help you stay on top of all your expenses, including subscriptions. During its lifespan, Rocket Money has served over five million users[3] and canceled over a million subscriptions on their behalf.
To start using Rocket Money, you need to sign up, add payments manually or link a bank account via Plaid[4], and set up the username and password you’d like to use for the bank account access. The app’s algorithm will detect your recurring payments and remind you when they’re due to prevent you from incurring late or overdraft fees. If you’re on the Premium plan, you’ll be able to stop subscriptions in a few clicks thanks to Rocket Money’s cancellation assistant.
Some of the tool’s additional benefits include alerts when your account is below a safe balance or when your credit spending is too high, budget setting and bill negotiation to help lower your spending, and credit score tracking.
By using Plaid and its encryption system, Rocket Money ensures your login credentials never reach the company’s servers[5].
Hiatus
Like Rocket Money, Hiatus is a comprehensive app that lets you manage all aspects of your financial life. After signing up, you can add your subscriptions manually or connect your financial accounts by selecting your institution and entering your login credentials. As Hiatus integrates with more than 10,000 banks and credit unions, linking your account should be effortless.
After you complete the setup, Hiatus will instantly recognize and organize your automatic payments. You’ll get insights into all your account balances, and you’ll be alerted about upcoming charges and rate increases. If you’d like Hiatus to cancel or negotiate your bills, you’ll have to upgrade to Premium and authorize the company to contact the service provider in your stead.
Hiatus’s feature offering expands beyond subscription management, allowing you to analyze your spending trends, compare your rates to other customers’ rates, and track and grow your net worth.
The company claims to use bank-level security and never store your login information[6].
Subscription Stopper
Subscription Stopper is a free app focused solely on subscription management. Once you sign up and add your cards or accounts through Plaid, the app allows you to view and manage all your subscriptions in one place. This makes it easier for you to track and manage upcoming payments as well as find unused subscriptions.
Keep in mind that Subscription Stopper can’t cancel subscriptions on your behalf. You’ll have to go through the company’s cancellation process, but the app can help you navigate it by providing step-by-step instructions and useful tips from the community.
Bank account linking through Plaid ensures that your financial information remains protected and can’t be accessed or used by the company. Subscription Stopper also uses high-grade encryption to keep transactions safe and anonymous[7].
PocketGuard
PocketGuard is an app that offers a wide range of budgeting features. You can connect your checking, credit, or savings accounts or enter your monthly expenses manually. Once you do, the app will put your monthly bills up against your income, consider your budgeting goals, and then calculate how much money you have left after paying all your dues. With a real-time overview of your spending, you can easily detect which subscriptions are the most burdensome on your wallet.
Like Subscription Stopper, PocketGuard can’t terminate subscriptions for you, but if you opt for the Plus plan, the app will supply you with information to help you complete the cancellation yourself.
With PIN codes and biometrics, PocketGuard ensures nobody can access your account or the data in it besides you. It also never stores your credentials and has read-only access to your transaction history.[8]
Bobby
Although it can’t stop subscriptions for you, Bobby offers a simple and effective way to keep track of them. To create your overview, you can either browse Bobby’s hundreds of existing subscriptions or add custom ones, then enter your contract details. You can customize how the subscriptions are displayed by sorting them into categories, reordering them with a quick drag-and-drop, and using filters.
Bobby will also notify you when a payment is due, which can help you make sure you have sufficient funds in your account to cover it and avoid being late. As Bobby doesn’t require your personal or financial information to function[9], it is considered generally safe.
Potential Downsides of Subscription Management Apps
Apps that track your subscriptions can be useful if you’re dealing with a lot of payments, helping you see all of them at a glance for easier budgeting and decision-making. If you’re time-constrained, the cancellation service may come in handy too. However, these apps may come with a few caveats you should consider before signing up:
- Cost—While subscription management is usually free, cancellation isn’t. Most apps charge extra or require you to sign up for the paid plan to discontinue subscriptions on your behalf. Since you can also cancel subscriptions by yourself for free, this begs the question of whether such a service is worth your money. The answer may depend on factors such as the cost of the cancellation service and the number of subscriptions you want to end.
- Security concerns—Some subscription managers allow you to enter your subscriptions manually, but most of them require you to link a financial account. To ensure your data will remain safe, you should choose a reputable company. You may be able to assess the company’s credibility by reading about its security measures and consulting independent online reviews.
- Cancellation problems—Apps that cancel subscriptions might not always be effective. Some companies may require you to cancel in person or have other specific procedures that you need to abide by. For example, you may need to return any leased equipment and cover any early termination fees or unsettled balances.
How Virtual Cards Can Aid In Case of Tricky Cancellations
Some subscriptions may be more difficult to cut ties with than others. While you can cancel subscriptions online quickly in most cases, sometimes you may need to deal with confusing instructions, intrusive retention pleas, and long wait times when trying to reach customer support. Complicated cancellation mechanisms such as these are referred to as a “roach motel,” and their aim is to discourage you from unsubscribing and get you to continue paying for the company’s services.
If you’re not careful and persistent, you may end up covering another installment for a subscription you don’t use. In some cases, accidental charges can happen even after you’ve completed the cancellation process.
The good news is that you can pay for subscriptions with Privacy Virtual Cards, which allow you to define how much merchants can bill you. Virtual cards are connected to a funding source but replace your actual financial information with temporary numbers at checkout, acting as a safety buffer between you and the merchant. These cards can also give you more control over your expenses, especially if you choose a comprehensive virtual card provider such as Privacy.
Say Goodbye to Unwanted Expenses With Privacy Virtual Cards
Privacy offers you a simple and effective way to protect your funds from potential misuse, including accidental or intentional overcharging. You only need to connect your debit card or bank account to Privacy, and you can generate multiple virtual cards for various purchases.
You can choose between two types of Privacy Virtual Cards—Single-Use or Merchant-Locked. Single-Use Cards become invalid shortly after you complete the first transaction. They’re the ideal choice when you want to try an unfamiliar website or don’t plan on buying from it again.
Merchant-Locked Cards can be used repeatedly but only on one website. You can use them for your favorite merchants and subscription services, such as YouTube Premium, Tinder Gold, and Dropbox. Merchant-Locked Cards can also help you manage your subscription expenses thanks to these two features:
- Spending limits—When you set a spending limit on a card, Privacy declines all charges that go over the limit. This feature can be useful in case the merchant accidentally double-charges you or ups the pricing without notifying you.
- Card pausing/closing—If you decide to cancel a subscription, you can close or pause the card you used to pay for it, and Privacy will block all charges on said card. That way, you can deal with the cancellation process without any concern about unwelcome charges sneaking through.
Privacy Virtual Cards—Always Within a Hand’s Reach
Besides security and control, Privacy offers unparalleled convenience when it comes to creating and using your virtual cards.
With the browser extension, you can have your virtual card details autofilled at checkout, so you don’t have to enter them manually. The extension is available on Chrome, Firefox, Safari, and Edge, but iPhone and iPad users can enjoy fast and seamless checkouts too with the Safari extension for iOS.
Privacy also has a mobile app for Android and iOS, which allows you to generate and manage virtual cards on the go.
Privacy—Easy Setup and Affordable Pricing
To join over 250,000 users who are already benefiting from Privacy, take the steps below:
- Create an account
- Provide the information needed to verify your identity
- Link a bank account or debit card
- Request your virtual cards
You can use Privacy Cards with different websites or merchants that accept U.S. Mastercard® or Visa® payments. That includes streaming platforms such as Philo and Apple Music, gaming subscriptions like PlayStation Plus and Xbox Game Pass, and news sources such as the New York Times and the Wall Street Journal.
Privacy offers the Personal plan that’s free for domestic transactions and includes 12 virtual cards a month as well as access to the subscription payment management features, browser extension, and mobile app. You can always upgrade to Pro ($10/month) or Premium ($25/month) if you need additional cards (up to 60) and features like:
- No international transaction fees
- Priority support
- 1% cashback on eligible purchases (totaling $4,500 a month)
- Dedicated account management
References
[1] https://www.asktrim.com/, sourced January 2024
[2] https://www.asktrim.com/faq, sourced January 2024
[3] https://www.rocketmoney.com/, sourced January 2024
[4] https://help.rocketmoney.com/en/articles/934328-linking-account-s?q=computer, sourced January 2024
[5] https://www.rocketmoney.com/security, sourced January 2024
[6] https://hiatus.kustomer.help/en_us/link-your-banking-institution-HkB4MReWP, sourced January 2024
[7] https://www.subscriptionstopper.com/help, sourced January 2024
[8] https://pocketguard.com/security/, sourced January 2024
[9] https://privacy.com/blog/how-to-identify-credit-card-and-debit-card-by-number, sourced January 2024
