Free transcript, then a paid file
Yes, there is a free transcript: 5 lifetime minutes and a full on-screen preview. No, the watermark-free TXT, SRT, and VTT are not free once the balance is zero. Holding one unused minute lets you export. Spending the last minute on a job still leaves the preview. Packs are $2.99 for 10 minutes, $4.99 for 30, $6.99 for 100, and $14.99 for 300, charged once through PayPal. Checkout can be closed by the operator. When it is closed, the prices may be hidden and the button will not sell.
SRT and VTT without a second pass
SRT and VTT are exports of the lines you edited, not a separate recognition. Change the words, save, and download again. The times do not move. The model disclosure page names gpt-transcribe. Whisper is not the default engine. Media and the hash cache are kept for about 7 days. You are responsible for having the right to upload the recording.