Save Money By Cancelling PayPal Auto Renewal Accounts and Billing Agreements!

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Many people suffer from the woes of being charged automatically for many services they do not wish to renew. This automatic renewal is done online with the aid of technology. When you apply or take the service, you are often asked whether you would be reminded later for automatic renewal, and there are some services where you need to activate the same.

PayPal

Whatever the case might be, you will be charged again for the service after the period lapses. This is often inconvenient for you as you are charged even if you do not wish to continue using the service.

PayPal is a platform that helps you to send and receive payments online. People across the world use this platform. This platform also gives you a choice to make payments regularly to services you might subscribe to.

However, in the case of automatic payments or the cancellation of billing, you need to deactivate the automatic payment option to save money. Here, you need to be aware of settings in which you can disable the feature and no longer suffer from the tensions and woes of unwanted deductions.

How to cancel billing for subscription and payments under PayPal?

The following are easy steps via which you can cancel billing and subscription when it comes to your Paypal account:

  • Visit the Paypal website
  • Enter User Id and password to log in
  • Click on Profile
  • Click on My Money-Pre Approved Payment from the options available
  • Click on the link. You will find options to manage your subscription and payments. Click on suspended to deactivate the service of auto payments. If you wish to reactive the auto payment feature after some time, click on the same option and click on active.
  • On the following page, you will find details of the subscriptions you have paid for so far. There are details as to the amount of money that has been deducted from your account till date along with some additional details. In case, they are active, click on the “ cancel” option.
  • Once you have clicked on the ” cancel” option, you will be asked to confirm the choice again.
  • Once you have confirmed the link, you again need to complete this transaction for every service provider each time.

The process to deactivate your Paypal subscription is simple. Follow the above steps and ensure excess money many from your account. The sad truth is that many people are not aware of these simple steps and they end up losing money due to unwanted subscriptions.

Here, it is advised by experts to check the status of your subscription options at least. You must ensure that it is not causing excess money to leave your account. Be cautious and prevent expenses that are not planned or not needed by you now.

Understanding what a billing agreement is and how can you cancel it

Many people who use Paypal often complain they cannot cancel the billing agreement amount under the platform. They say they often fall into debts because of this lack of knowledge. The esteemed company in the USA nationaldebtreliefprograms.com says that most people often face financial crunches for simple online actions they activate when it comes to billing and auto payments. In this way, it is seen that they often lose track of expenses and fall into debts.

Like for instance, in the case of some web platforms like Go Daddy, there are some terms like “Paypal Billing Agreement” Most people are not aware of this term and what it means. For them, it is more like the terms and conditions of an agreement that you have to accept even if you do not wish to.

Take in the case of Go Daddy, for example, once you have completed your registration via PayPal, you will be charged a year later for automatic renewal. This is a feature many people are not aware of. Some users also ignore the emails they receive for automatic renewal however they are not even conscious of the fact that when you register on this domain, there is a default setting for automatic renewal every month.

It is important for you to note that when you pay on Go Daddy or in that matter most web platforms for a service, you often enter into a billing agreement. This agreement authorizes the platform to charge your credit card or PayPal account without your intervention at the time of renewal. This feature also can remain active even if a person ceases to exist no more provided there be balance in the PayPal account. This is a point that you should note and take the effort to spread its awareness among the people you meet.

Now, the question is if that is the case, why do web platforms like Go Daddy and others have this clause for a billing agreement?

If you take the case of Go Daddy, you will find that the name for the domain does not cost you a lot and in case you lose it, this can cause a lot of hardships to you. In case, you miss out on the last day of renewal registration; you have to bid adieu to your website domain name forever. So, in the case of Go Daddy, this billing agreement does make sense.

It needs to ensure that your domain exists and for this, it has the automatic renewal feature so that it does not lose out on losses post the termination of your registration period. It is true that the feature is useful, however, when it comes to automatic renewal for your subscription and billing agreements, it is prudent for you to be aware of the activation and deactivation features of PayPal.

This will help you in the long run where you do not wish to be charged for an agreement or a subscription you no longer need. In this way, you no longer will be subjected to losing money and incurring debts that you do not want.

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Terry Godier

Article by Terry

Terry Godier is an experienced and skilled Financial advisor in the USA.He helps clients both personal and professional in long-term wealth building plans.During hiis spare time he loves to write on Business,Finance,Marketing,Social Media.He loves to share his knowledge and Experts tips with his readers.

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