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Savings Methodology
How we estimate the amount of late fees NotiFin helps its users avoid. Last updated: April 2026.
$38,000+
Estimated late fees saved
Based on the formula below. ~$76 per user / year. Since Sep 2025.
The Formula
Saved = T × E_rate × C_rate × P_miss × K × F_avg
= 23,000 × 54% × 91% × 15% × 70% × $32
≈ $38,000
= 23,000 × 54% × 91% × 15% × 70% × $32
≈ $38,000
Where each variable is explained in the assumptions table below.
Assumptions
T — Total transactions
Total payments logged by all users in NotiFin (500 users × 46 avg transactions)
23,000
E_rate — Expense share
Percentage of transactions that are outgoing payments (vs. income), based on NotiFin user data
54%
C_rate — Card/credit share
Share of expense transactions marked as card or credit — the types with documented late fee risk, based on NotiFin user data
91%
P_miss — Baseline miss rate
Miss rate for card-heavy users. Motley Fool reports 37% of Americans missed a payment last year; we use a conservative 15% for active card users
15%
K — Reminder effectiveness
Estimated share of potential missed payments successfully prevented by a timely reminder. Conservative estimate.
70%
F_avg — Average late fee
Average credit card late fee per CFPB (2024)
$32
Limitations & Caveats
- •This is an estimate, not an audited figure. Actual savings vary by user behaviour, country, and payment types.
- •The 15% miss rate is a conservative estimate for active card users. General population rate (CFPB) is 8%; Motley Fool reports 37% missed at least one payment last year.
- •Reminder effectiveness (70%) is a conservative assumption. No A/B test has been run to validate this figure for NotiFin specifically.
- •Utility late fees are excluded — the primary cost of a missed utility payment is a reconnection fee, which is harder to model.
Sources
- CFPB — Credit Card Late Fee Rule (2024) — average late fee $32, total $14.5B/year
- WalletHub — Credit Card Late Fee Statistics (2026) — 8% of Americans pay credit card late fee annually
- CNBC — 37% of Americans paid a late fee in the last 12 months (2024)
- Motley Fool — Nearly 1 in 6 Americans aren't paying their bills on time
Questions about this methodology? Contact us at support@notifin.app