Watch Out for Automatic Payment Subscriptions when Signing Up for Free Trials

New York– The rise of the digital economy has not prevented this old way of getting enrolled for a subscription without having applied for it. What begins as a free trial is sometimes automatically upgraded to a subscription if the user does not expressly cancel the trial in the first place. For credit card users, this is an unnecessary expense to watch out for.

With most major phones arriving with a payment system in built, the digital payment economy has now overtaken the old cash system, reaching the 47 percent figure of late. On the other hand, the US household debt has risen to $12.8 trillion, with credit card debt too reaching its peak figure in the last eight years, as revealed by Fed surveys.

The phenomenon of automatic subscription can be avoided if users are careful while taking up a free trial offer. Many of these of course carry the optional condition of automatically subscribing the user to the paid service or product. This has been the way nearly 35 percent users in the US have ended up making payments to gyms and other services without being aware of it. Surprisingly, parents and those with higher education levels tend to be more likely to end up with automatic payment plans.

Strahan McNeil Partners is a New York headquartered finance firm which operates a global network of over 560 finance professionals redefining their traditional role as ‘financial technicians’. The firm offers specialized financial services that handles audits, restructuring, structured finance, and mergers and acquisitions. Focused on turning knowledge into value and advantage for its clients, Strahan McNeil Partners provides clients with wide ranging financial and accounting services that meet globally consistent norms.

Strahan McNeil Partners is today playing a new role in the capital markets, supporting positive reforms that would strengthen credibility and confidence. The firm actively takes up social responsibility, making it part of its central, working agenda so as to make a real difference to the communities it serves.

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For more information, please visit: www.strahanmcneil.com

Strahan McNeil Partners
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Tel: (646) 681-7423

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