We offer both annual and monthly forms of all subscription tiers. Annual plans are paid for in one lump sum at a discounted rate (and recur one year after initiation unless cancelled) — while this is a great option for users sure of their continued use of Runway's tools, it's not the end of the world if you selected this option without meaning to.
If you haven't selected yet
Unless you are completely certain you want to go with an annual plan, make sure to toggle this button on the plan upgrade page from Yearly to Monthly. This will switch the options and pricing below to our monthly rates.
If the charge has been initiated, but hasn't gone through yet
If you initiated an accidental yearly plan purchase but stopped before paying, you might notice that you can't seem to choose another plan just yet.
This is because cancelled transactions stay pending on our payment provider's end for roughly 24 hours as "outstanding", for cases where users would like to amend any payment details or discrepancies. As you don't want to complete this transaction, try again in one day, and you'll be able to select any new subscription tier to initiate.
If the charge has been initiated, and has been paid for
On the dashboard, click your profile icon in the top right corner, and select the purple Update Plan button. Then, toggle to Monthly, and select any other plan tier to switch to. If you merely want the monthly version of your current annual plan, switch to any other plan under Monthly, then follow these steps again to switch to the Monthly version of your accidental annual plan.
The difference in payment between that annual plan and the monthly plan will be automatically administered onto your account as a balance credit. For instance, if you accidentally selected Standard Annual ($144) and switch to Standard Monthly ($15), a $129 credit will be applied to your account's balance.
If you would like this credit balance refunded to you instead of as a balance, submit a support ticket with the accidental annual payment's invoice attached.