Featured in Dailymail- Scribepay wants to beat subscription traps losing £160 a year

https://www.thisismoney.co.uk/money/smallbusiness/article-10221567/ScribePay-wants-beat-subscription-traps-losing-160-year.html


Entrepreneur creates an app to help you cancel unused subscriptions: ScribePay could save you £160 a year – BUT comes with a £4.99 fee itself


Britain is turning into a subscription society. A whole range of things can now be signed up to and paid for on a monthly basis – from coffee to streaming, and food boxes to delivery services.

Not having to remember to place an order or make a monthly payment for these everyday items should make life easier, but it can be difficult to keep on top of them all.


Often we will get sidetracked from cancelling our subscriptions, or even forget about them altogether.


The contracts can roll on for months or even years, with payments being taken even if we no longer use the service.


And the costs can rack up further if customers have signed up for contracts which can they can only get out of once a year.

ScribePay allows users to cancel wasteful subscriptions in just two clicks
The app alerts users when subscription renewals are due or free trials expire
Households spend around £552 a year on these subscriptions, but forget them
Founder Delphine Emenyonu says it will have 30,000 users by end of 2022



With the cost of living rising, it is more important than ever to make sure you don't waste money on subscriptions you're no longer taking advantage of, or be put off by a difficult cancellation process.


Delphine Emenyonu is on a mission to help the millions of Britons who find themselves stuck in subscription cycles they can't get out of easily.


Some 65 per cent of homes have signed up to services like Netflix and meal delivery kits, according to research from Barclaycard Payments, and spend around £552 a year on these services.


Emenyonu claims her newly launched business, ScribePay, will save consumers at least £160 a year as it helps them to escape wasteful subscription traps.


The app is free if you use it manually but a premium version that automates things would cost £4.99 per month, nonetheless Delphine says people could still save money with it.


What is ScribePay?


ScribePay is an app that can be downloaded via the App Store and Google Play.

It reminds people to make their subscription payments, but can also prompt them to cancel a subscription when the renewal period is due, or when a free trial period has ended.

There is a free version available which allows customers to manually upload, track and manage all of their subscriptions.

This relies solely on the information given by the app user, so it's important to ensure it is uploaded accurately.

However, ScribePay is also set to launch a premium subscription of its own, costing £4.99 a month.

It will allow users to access a digital wallet with a pre-paid virtual Mastercard, which they can use to manage their subscription payments.

Subscription payments are linked to this wallet, and all subscriptions are automatically tracked using information that comes from the transactional data.


Is your money protected with ScribePay?

ScribePay's premium account is a digital wallet. It doesn't offer any interest, and when you add money to it the equivalent value of e-money is added to your ScribePay Account. The money in the account is, however, not covered by the Financial Services Compensation Scheme which protects funds up to the value of £85,000. Emenyonu says: 'If the e-money Issuer becomes insolvent, your money is safeguarded under the UK Electronic Money Regulations 2011. 'These cover the legal obligations of electronic money institutions and are designed to protect money held in electronic money accounts like your ScribePay Account.'



What tricks do firms use to put customers off cancelling?

We're often told by eager salespeople that it's easy to cancel subscriptions if we no longer want the service.

However, this can often turn out to be more challenging than they claim.

According to Citizens Advice, companies resort to several tactics and excuses to refuse cancellation requests from consumers. These include:

1. Asking for more notice. In some cases, companies have asked customers to adhere to six-month notice periods.

2. Telling customers they have to quit the service through a particular route, such as phone or email.

3. Asking them to provide proof of their reason for cancellation.

According to Citizens Advice, one person claimed a company asked for proof of redundancy by an employer and requested seeing their P45


Scribepay free now available on Android and Apple store.

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