The Silent Drain of Subscription Creep
From streaming platforms and digital news to fitness apps and cloud storage, the subscription economy is booming in India. The ease of signing up, often with a free trial, means we accumulate recurring payments without a second thought. Many of these
are set up via UPI AutoPay, credit cards, or debit card mandates. While convenient, this 'set it and forget it' model creates a financial blind spot. Small, regular debits for services you no longer use can add up to a significant amount over a year. Regularly auditing these payments is a crucial step in maintaining good financial hygiene and ensuring your money is spent intentionally.
Method 1: The Manual Bank Statement Scan
The most fundamental method is to manually review your bank or credit card statements. While it sounds tedious, modern banking apps make it simpler. Instead of scrolling through endless transactions, use the search or filter functions. Look for recurring merchant names or amounts. Many apps categorise your spending, which can help group all subscription-related debits. Dedicate an hour every few months to this task. Export your statement to a spreadsheet and sort by merchant name to easily spot repeating charges. This hands-on approach gives you a granular view of exactly where your money is going.
Method 2: Leverage Your UPI App’s AutoPay Section
With UPI AutoPay processing thousands of crores in mandates every month in India, your UPI app is a primary hub for recurring payments. Major apps like Google Pay, PhonePe, and Paytm have dedicated sections to manage these mandates. The process is straightforward: open your UPI app, navigate to your profile or settings, and look for a section named 'AutoPay', 'Mandates', or 'Automatic Payments'. Here, you will find a list of all active recurring payment instructions you have authorised through that app. This is your control centre to review and, if necessary, cancel unwanted subscriptions with a few taps and your UPI PIN.
Method 3: Use Your Bank’s Mandate Management Feature
Most banks now provide a feature within their net banking portals or mobile apps to manage all 'e-mandates' or 'Standing Instructions'. For instance, in HDFC Bank's NetBanking, you can find this under the 'BillPay & Recharge' or 'Standing Instruction' tabs. Similarly, ICICI Bank's iMobile app allows you to view and manage scheduled payments and billers. These portals show mandates set up via debit cards, credit cards, and bank accounts, providing a more comprehensive overview than a single UPI app might. Locating this section allows you to view the merchant, the amount, and the frequency, and gives you the direct option to revoke the mandate from the bank's side.
The Two-Step Cancellation Process
Once you've identified an unwanted subscription, cancelling it involves two key steps. First, and most importantly, you should try to cancel the service directly with the merchant via their app or website. This officially ends your service agreement. The second step is to revoke the payment mandate in your banking or UPI app. This prevents the company from charging you again. Simply cancelling the mandate without cancelling the service might not be enough, as the merchant could still consider your subscription active. The Reserve Bank of India (RBI) mandates that platforms must provide users with an easy way to cancel mandates and must send a pre-debit notification at least 24 hours before a charge, giving you a chance to act.
Consider Third-Party Subscription Managers
For those juggling numerous subscriptions, a dedicated tracking app might be worthwhile. In India, apps like Fleek and TrackAutoPay are designed to cater to the local payment ecosystem, including UPI AutoPay, which many international trackers ignore. These apps aim to provide a single dashboard to view all your recurring payments, send reminders before renewal dates, and sometimes even help with the cancellation process. While some require manual entry and others may request access to your transaction messages, they can offer a level of clarity that is hard to achieve manually.
