Find Hidden Subscriptions and Expenses in Your Bank Statement
Did you know that the average household spends over £40 per month on subscriptions it does not actively use? Hidden expenses like streaming services you forgot to cancel, insurance that renewed automatically, or apps with a free trial that started charging. These hidden charges go unnoticed on your bank statement but add up to hundreds of pounds per year.
The average household has 8-12 active subscriptions and underestimates the total cost by 30-40%.
The problem of invisible subscriptions
The subscription model is designed to make you forget you are paying. Charges of £4.99, £9.99, or £12.99 per month seem insignificant individually, but added together they can represent £100-200 per month. Furthermore, many companies deliberately make cancellation difficult — they require you to call by phone, send an email, or navigate confusing menus. The result: you keep paying month after month for services you do not use.
Types of recurring expenses CheckFin detects
CheckFin analyses your bank statement and automatically classifies your recurring costs into categories: digital subscriptions (Netflix, Spotify, HBO, YouTube Premium, iCloud, Microsoft 365), insurance (home, car, life, health), household utilities (electricity, gas, water, internet, mobile), debt and buy-now-pay-later (Klarna, Clearpay, loans), and other recurring charges (gym, parking, membership fees). For each one, it calculates the real monthly cost based on your actual payments.
How to find hidden charges
Upload your bank statement from the last 3-6 months to CheckFin. The tool automatically groups payments by merchant, calculates the frequency and average amount, and separates recurring costs from one-off payments. In the results panel, you will find a complete list of all your recurring expenses sorted by category, with the estimated monthly cost of each. The ones that surprise you are probably the ones you can cancel.
What to cancel and what to keep
Not all subscriptions are bad. The key is to evaluate each one based on its value-to-cost ratio. CheckFin lets you mark each recurring cost as: cancel (you stop paying it), optimise (you try to negotiate a better price), review (you need to think about it), or keep (it is worth what you pay). For subscriptions marked as cancel, CheckFin calculates how much you will save per month and per year.
How much can you save?
CheckFin users discover on average 2-4 subscriptions they can cancel immediately, with typical savings of £30-80 per month. That amounts to £360-960 per year — money you can put towards savings, debt reduction, or investment. Additionally, optimising utility contracts (comparing electricity, gas, internet tariffs) can generate additional savings of 10-20%.
Private analysis, without sharing your bank account
Unlike apps such as Mint, Emma, or Plaid-based services that require connecting your bank account via Open Banking, CheckFin works with files you download from your online banking. Your data is processed and stored exclusively in your browser — it never leaves your device. You can delete all data at any time. Nobody else sees your transactions — not us, not third parties, not advertisers. It is the most private way to audit your subscriptions.