The behavior of recurring payments.

I would like to share some exciting data on monthly spending based on the insight stats. I hope your personal and corporate funds have not gone into self-driving mode.

According to our statistics, an average American (for private accounts) spends $728 per month on recurring payments. This is without taking into account payments for loans, college or school, or car leasing. LaterI will show the popular categories of costs. If a person is engaged in small business, then the amount of automatic monthly payments is, on average, $1,700 per month.

It’s fascinating that 100 percent (OK, this is my assumption on the figure, but it’s exactly 100 percent in our case) cannot say how much money was charged to his accounts. Those who can give an approximate amount always found something interesting when connecting their bank accounts to Melt.

At the same time, up to 40 percent of people are paying for services that they do not use anymore. In most cases, people have forgotten trial periods for software or subscription boxes and services that companies cease to use, but forgets to unsubscribe.

The biggest problem with these cases is for people under 30 years of age. For those who are older the percentage is reduced, but is in the region of 30 percent. Interesting facts when, for example, a person dies, and recurring payments continue to go through.

On average, cash losses range from $220 to $680 per month. For companies, the picture is fascinating, especially in the enterprise segment, when one subscription can cost $12,000 a month and employees sign up for new subscriptions using corporate cards and, of course, this is rarely tracked.

How does your money flow out? On average, it’s the following: debit cards 33%, credit 23%, and checks 14%.

The most significant recurring payments (without taking into account payments for loans, education or car leasing) are insurance, software, car maintenance, mobile and the Internet, video, music, television, and subscriptions for children.

In the category of “Subscription Box,” the most massive costs are attributable to fashion, beauty samples, organic food, eco products, and personal care products.

We have opened public access to Melt, and once there is more data, the picture will probably change, but it is already clear that it will be interesting.