Step 1: Conduct a Thorough Digital Audit
The first step to plugging the leaks in your monthly budget is to find them. Many recurring charges are small enough to go unnoticed, but they add up significantly over time. You need to perform a comprehensive audit across all platforms where you might
have authorised payments. Start with your smartphone. On an iPhone, go to Settings, tap your name, and then select 'Subscriptions' to see a list of all services billed through your Apple ID. For Android users, open the Google Play Store, tap your profile icon, and go to 'Payments & subscriptions' and then 'Subscriptions'. This will show you everything billed via Google Play.
Step 2: Scour Your Payment Mandates
Not all subscriptions are managed through app stores. Many are direct UPI or card mandates. Systematically check your UPI apps like Google Pay, PhonePe, and Paytm. In Google Pay, tap your profile picture and find the 'Autopay' section. In PhonePe, this is often under 'AutoPay' in your profile settings. Paytm users can find it by searching for 'Automatic Payments' or looking under UPI & Payment settings. A crucial tool is the National Payments Corporation of India (NPCI) portal (upihelp.npci.org.in), which provides a centralised view of all your UPI mandates across different apps. Simply log in with your mobile number to see and revoke any unwanted mandates directly.
Step 3: Review Bank and Credit Card Statements
Your bank and credit card statements are the ultimate source of truth. Dedicate time to review the last few months of statements line by line. Look for familiar names (like Netflix or Spotify) and any unrecognised merchant names that charge a consistent amount each month. Some companies use a different name for their payment processing, so a quick online search of an unfamiliar name can reveal the service you're paying for. Create a simple list of every recurring charge you find, noting the amount, date, and service provider. This list will become your action plan for the next step.
Step 4: The Cancellation Process
Once you have your list of unwanted subscriptions, it's time to cancel them. For app store subscriptions, the process is straightforward—simply tap 'Cancel Subscription' within the subscription menu on your iPhone or Android device. For UPI mandates, you can revoke them directly from within the respective UPI app or via the central NPCI portal. For charges made directly to your credit or debit card, you almost always need to cancel with the merchant first. Log in to the service's website or app, navigate to your account or billing section, and look for an option to cancel your plan or turn off auto-renewal. If you can't find it, contact their customer support. Only after you've tried to cancel with the merchant should you contact your bank to block future payments.
Step 5: Build a Strong Financial Defence
Stopping unwanted charges is only half the battle; preventing new ones is key. Thanks to RBI's e-mandate framework, you have more control than ever. Banks and merchants must send you a pre-transaction notification at least 24 hours before any recurring charge, giving you a chance to act. Furthermore, any recurring payment above ₹15,000 requires your specific approval with an Additional Factor of Authentication (AFA). To further protect yourself, get into the habit of cancelling free trials immediately after signing up; you will usually retain access for the trial period. For new subscriptions, set a calendar reminder a few days before the renewal date. This gives you a prompt to decide if you want to continue with the service. Consider using virtual cards for subscriptions, which can be easily disabled if a cancellation becomes difficult.
