28 Nov 2017 | Posted In Money advice news

New analysis from Citizens Advice shows that in just three months consumers paid an average of £160 towards unwanted subscriptions like gym memberships, television, insurance and online streaming services.

With the rise of subscription services available, Citizens Advice is warning consumers that while it may be easy to sign up for these services, they can be difficult to get out of.

An analysis of cases to the Citizens Advice consumer service between June and August 2017, shows 9 in 10 people were initially refused by the company when they tried to cancel their subscription. People are tying themselves into contracts for subscriptions and are struggling to deal with the company’s terms and conditions to cancel, all the while paying out of pocket.

As part of National Consumer Week, Citizens Advice and the Consumer Protection Partnership are urging consumers to be aware of the terms and conditions of any contract before agreeing to recurring payments and companies to act responsibly when customers want to end their services.

At Monday’s MALG Conference, Peter Myatt of Bean introduced a new fintech tool that helps consumers to easily and conveniently find, track, and manage bills and subscriptions to try and overcome the problem.

Read more here.