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Author Topic: Recurring subscription billed monthly using Bitcoin  (Read 911 times)
klaasd
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September 08, 2016, 11:10:19 PM
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Hi everyone.

I'm planning to purchase a subscription for a VPN server. The company says the subscription is billed monthly, and can be paid using Bitcoins. The first bill i can pay directly, but how does it work for the 2th and 3th mont etc? Would the company send me a mail with a new bill/link to pay?

And how does it works with cancelling subscriptions? Paypal for example has a cancel button if you login there, and a credit card company also has something like this.



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morantis
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September 08, 2016, 11:14:12 PM
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Hi everyone.

I'm planning to purchase a subscription for a VPN server. The company says the subscription is billed monthly, and can be paid using Bitcoins. The first bill i can pay directly, but how does it work for the 2th and 3th mont etc? Would the company send me a mail with a new bill/link to pay?

And how does it works with cancelling subscriptions? Paypal for example has a cancel button if you login there, and a credit card company also has something like this.





they will send you an email or something letting you know to pay and when.  you could conceivably script a TX to go to them on a certain day each month, but they cannot ever pull from your wallet.  as far as canceling, there is nothing that needs to be canceled on the Bitcoin side, and technically if the company never got paid, they will eventually cancel the service.  If you planned to not do business with them anymore it is just in good taste and good business to go to their website and do whatever clicking is needed to cancel, that will simply leave you and them in a good business relationship if you ever need to go back to the same company again.
klaasd
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September 08, 2016, 11:41:13 PM
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Ahhh ok. Thanks for fast reply morantis! Smiley
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September 09, 2016, 09:19:23 AM
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I am adding that it may be possible that they do not have a 'Cancel' button on their site. In that case, you could simply e-mail them when you want to cancel your subsription and tell in your e-mail that you want to cancel the subscription. If you also include the reasons why you want to cancel, they will especially like you.


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September 11, 2016, 05:11:32 PM
 #5

As morantis said you do not have to worry about it (they gave no access to your funds).

I want to say that this is possible with Bitcoin, though: https://en.bitcoin.it/wiki/Contract#Example_7:_Rapidly-adjusted_.28micro.29payments_to_a_pre-determined_party





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unholycactus
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September 11, 2016, 09:51:55 PM
 #6

Not much to worry about on your side.
Unless you forget to manually pay again, which should result in them terminating your subscription.

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