🔥
Oct 16 in 💬 General discussion
Heads Up, Membership Owners. Updates from the FTC
New FTC Rule on How Customers Can Cancel Subscriptions - This is a BIG One That Effects Millions…
The FTC’s has a new “Click to Cancel” rule for companies that do recurring billing. Here’s what you need to know to stay compliant:
Make Cancellation as Easy as Sign-Up:
If customers signed up online, they must be able to cancel through the same channel with an equally simple process. No more multi-step barriers to exit.
Aka they need to be able to cancel online.
.
.
“Save” Offers with Consent:
Businesses can present “save the sale” offers to retain customers only after asking if they’re open to hearing them.
If the answer is “no,” cancellation must proceed immediately.
.
.
Annual Renewal Reminders:
This is big too.
For subscriptions involving services (not physical products), companies are required to send annual reminders with key details - like the subscription cost and renewal date - giving customers a fair chance to cancel.
.
.
Recordkeeping Requirements:
This was surprising.
Businesses must keep all records of the customer consenting and any attempts to “save the sale” for at least three years.
.
.
You got till April, 180 days.
Get your stuff in order!
Posted by Kevin Laylor in another group.
I assume Evelyn and Sam will become aware of these things and ensure a platform that supports compliance and safety for membership owners.
Additional info here:
More details will roll out as I come across it.
4
2 comments
Heads Up, Membership Owners. Updates from the FTC
skool.com/digital-profit-builder
Beginners & aspiring entrepreneurs turn your expertise & transform your knowledge into profit using a simple, actionable system using Digital Products
Leaderboard (30-day)
1
🔥
+50
2
+21
3
🔥
+21
4
🔥
+14
5
+11
powered by