New feature aims to give customers clearer oversight of recurring payments
Bankwest is preparing to roll out a new Subscriptions Manager tool in its mobile app, giving customers a single view of their subscription spending as Australians’ use of recurring services continues to expand.
The feature will collate subscription payments across multiple eligible accounts in the Bankwest app, allowing customers to see how much they are spending on services such as streaming, delivery, news, and gym memberships, and how often those payments occur. The bank says this may help customers decide whether to retain, pause, or cancel specific services as they work towards their 2026 budgeting goals.
Bankwest cited internal research indicating that many customers find subscription oversight difficult. In a recent customer survey, 81% of respondents said managing subscriptions would be easier if they could see all of them in one place, while 43% reported difficulty keeping track of how many subscriptions they held. A further 46% acknowledged paying for at least one subscription they were not actively using, and 7% were unsure.
The bank noted that Australians’ aggregate spend on subscription services has reached its highest level to date, driven in part by consumers rotating between platforms to access particular content. In this context, recurring payments that sit across several accounts or cards can be overlooked, leading to “set and forget” arrangements.
“We know Aussies love subscriptions,” said Eleanor Bensley (pictured right), chief digital officer at Bankwest. “Gym, news and entertainment memberships or streaming and delivery services help them feel connected and add valued convenience to everyday life.
“While signing up is easy, keeping track of multiple subscriptions can get complicated – and the monthly cost of a variety of subscriptions can really stack up - so being able to view it all in one place is important.
“Subscriptions Manager brings rogue or forgotten sign-ups together for a view of how much and how often users are spending, reducing the risk of paying for services no longer in use and helping identify opportunities to save.”
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