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The ASB Bank said a survey of more than 1100 customers shows one in five subscription holders are paying for services they don't use and nearly a third spend more than $100 on rolling subscriptions each month.
The survey found more than a quarter of respondents have six or more paid subscriptions on the go.
ASB Everyday Money tribe lead Micheal Maclean said as more of peoples' lives moved online, it was becoming harder to stay on top of the services they paid for.
"Our research told us only 17 percent of customers confidently know how many companies are storing their card details," he said.
Content streaming, computer software, and music were the top three services customers "couldn't live without" according to the survey.
Streaming services such as Netflix and Neon were highlighted as the most valued subscriptions for millennials.
Customers aged 65 or over said news and magazines were most important to them.
The bank said the research coincided with a new card tracker mobile application feature which helped customers keep on top of where their credit and debit card details were being stored and how they are being used.
"If it's out of sight, it can be out of mind, but by giving customers an easy snapshot of where their card is being stored, and how it's being used, we're making it easier to pinpoint any forgotten or unwanted spend," Maclean said.
"With rising costs a clear concern for New Zealanders, this is another practical way we're providing customers with easy ways to boost their financial wellbeing."
A third of customers have cancelled a subscription in the past six months, with half of saying it was to save costs.