News from the Wire

1 in 3 UK subscription users spot bogus charges

Thursday, November 21, 2024 — 12:51:54 (EST)

London, UK | 21st November 2024 – With subscription services rising in popularity across the UK, 1 in 3 subscription holders (15.9 million) have noticed a subscription payment coming out of their bank account that they could not recognise or had forgotten, according to a new survey conducted by research firm Opinium and commissioned by leading online prepaid payment firm Recharge.

The survey of 2,000 UK adults (18+) reveals that Brits earning over 40k per annum (53%) are 61% more likely to notice an unrecognised subscription than those earning 20k to 40k per annum (33%). In addition, male subscription holders are twice as likely as female subscribers to identify multiple unrecognised subscription payments. The survey also found that Londoners (66%) are 120% more likely to spot an unfamiliar subscription charge compared to the rest of the UK (30%).

Summary of the key trends:

Forgotten or unrecognised subscriptions: 35% of subscription holders (15.9 million) noticed a forgotten or unrecognised subscription coming out of their bank account. Male subscription holders (16%) are twice as likely as female subscription holders (8%) to notice more than one unrecognised subscription.

Brits earning over 40k per annum are 61% more likely to notice an unrecognised subscription than those earning 20k to 40k per annum (53% vs 33%).

Regional nuance: 66% of Londoners noticed an unrecognised subscription, whilst 30% of the rest of the UK noticed an unrecognised subscription.

Brits in the West Midlands are least likely to notice an unrecognised subscription (21%).

Günther Vogelpoel, CEO of Recharge, said: "Unrecognised subscriptions are having a significant impact on Brits, impacting their ability to purchase essential or luxury items, or contribute to savings and investments. Our research highlights the importance of budgeting tools to protect consumers from forgotten or unrecognised subscriptions and help control their spending. Prepaid payments products are one of the ways to do this, bringing a hard cap to spending with specific merchants or cards. Recharge is all about putting the consumer in charge and providing them with the options to spend their way whilst continuing to meet their evolving needs.”

The research was conducted by Opinium Research between 12 April 2024 - 16 April 2024 among a nationally representative sample of 2,000 UK adults. For further details on the survey results please contact press@recharge.com.

Notes for editors:

Brits losing on average a total of £58.70 on unrecognised subscriptions Latest UK Population estimate: 67,603,500 (ONS)

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Source: Company press release.