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Cancellation is instant and doesn't require an email being sent. You'll see that in the post.

You may be right. A better solution might be to build an external UI for account management, but I've shied away from that, wanting to keep everything inside Gmail. Maybe in the future though.

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I think you should have the email set up not to bounce and cancel accounts sent to that address just as readily as you cancel when they press the magic button. A lot of headaches and bad will considering anyone can cancel with their credit card and you might get screwed by your payment processor.

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