See how our app's new regular payments feature can help you save money by letting you see all your regular payments in one place.
Two-thirds of UK homes are currently signed up to some form of subscription service (65%), with an average of seven (SEVEN) contracts per household. The ease of being able to subscribe to a buy-now-pay-later service means we are even more inclined to get started. Whether it is streaming services, multi-media, apps, shopping - its the new way to pay.
On top of that, we have all our usual regular payments: bills, rent or mortgage payments, memberships, and maybe that direct debit into your Big Exchange investment account 😉. There are so many things to keep on top of that it can be difficult to keep track.
So much so that the independent wrote an article stating that the average British person wastes more than £30,000 in lifetime on monthly direct debits they never use - and that was written in 2018 not even considering the increase in subscription payments! We think that’s a real shame and something should be done about it.
And working with Moneyhub, we did do something about it.
We released a regular payments screen that, once you have connected your bank accounts, shows you all of your regular payments in one place. This includes: the ones that have been paid, the ones that are scheduled, and also the ones that we think are incoming given your past spending behaviour. That means, if we know that every third Friday you get that cheeky fish and chips, we’ll show you it as a regular payment and you can keep a track of it in your regular spends.
We want you to be able to see everything and make better decisions. In seeing all those regular payments in one place, you might be able to do a quick review this July and (like an unnamed member of our team) say “hold on a minute - am I really paying a £5.99 monthly subscription for contact lens solution?!”
Let us know what you find and how much money you could save from reviewing your regular payments on our app.
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