Earlier quoted context omitted.
In the EU consumer protection law mandate this. You have to be able to cancel in all the same ways that you can sign up. The most common way to pay subscriptions is with SEPA direct debit, and banks have to let you revoke those authorizations even retro-actively for 90 days.
I think a biggissue in this space is how dated the US banking industry is. They trail behind in so many ways that are anti-consumer and then they're used to justify draconion mafia moves like this one from Apple.
This applies to checking accounts as well. I pay no fees on my account with no minimum balance or usage restrictions and still have free unlimited ATM use worldwide (i.e. my bank doesn't charge a fee for the use or currency conversion and they actually refund me the foreign ATM's fees) and fee-free overdrafting on my account (paying a very nominal margin trading interest rate). I actually still use it even though I don't live in the US because it's cheaper to use here than my domestic bank account...