Truebill is an app that can help you take control of your finances. While it’s most well known for its bill negotiation and subscription canceling services, you can also use the app to build your savings and monitor your spending habits. While some of the features do come at an extra charge, you can get started with Truebill for free. It’s a good app for anyone who is curious about their finances to try out.
- People who are new to navigating their finances
- People who forget to cancel trial subscriptions
- Offers several features
- Some features require premium upgrade
Have you ever glanced at your bank or credit card statement, only to realize that you’ve forgotten to cancel a subscription? It happens to the best of us. Here’s how Truebill can help solve that annoyance and help you save.
Truebill might be most well known for this service, which identifies all of your subscriptions so you can review them and decide which to keep. All of your subscriptions can be found in your subscription control center. If there’s a service in there that you no longer want or need, Truebill can cancel it for you so you don’t have to go through the hassle yourself. (Let’s face it — it’s hard to remember to cancel those things!) You can also use the subscription control center to keep an eye on your upcoming bills. By keeping this information all in one place, the hope is that you can avoid late fees and overdrafts.
In addition to helping you get rid of unnecessary subscriptions, a Truebill smart savings account may be able to help you save even more. Because you have to connect at least 1 account to Truebill to use the service, it can analyze your account to look for ways to help you save. This allows Truebill to determine the optimal times for you to save so you can reach your goals faster. All you need to do is choose your savings goal, pick your preferred savings frequency, and let it help your savings grow. When you use this service, you’ll have full control of your account, so you can edit, pause, withdraw from or close your account at any time.
Truebill also can give you insights into your spending habits. It’ll break down your finances into spending categories to show you where your money is going. It can even offer suggestions for how you can improve your spending habits. Then, when you have an upcoming charge or if your account balance is low, Truebill can notify you. This can help you avoid extra fees such as late fees and overdraft fees.
Truebill understands that you might be concerned about your credit score and gives you full access to your complete credit report and credit history. You can use Truebill to learn more about how certain factors can impact your credit score because Truebill will break it down for you. You can also track changes to your credit score and receive notifications for things that will impact your score. This can help keep you informed so you aren’t caught off-guard when applying for a new credit card, loan or other accounts. Additionally, Truebill offers identity theft protection and can monitor your accounts for fraudulent activity. If you become the victim of identity theft, you can use Truebill’s 24/7 concierge to help you through the next steps.
The Truebill concierge can help you save on things like cell phone and cable bills by negotiating and getting the best rates for you. Truebill might also be able to help you find better car insurance rates if you connect your current insurance account. In addition, if you end up getting charged an overdraft fee or late fee by your bank, Truebill can help you through the steps to disputing the fee and getting a refund.
When you connect your checking account, Truebill can identify and follow your paycheck schedule. Then, if you’re running low and at risk of overdrawing your account, Truebill can notify you. At that point, you can request a pay advance of up to $100 to be deposited into your account. When your next paycheck comes in, your pay advance is paid back to Truebill.
Even after all of these features, there’s more! Truebill’s budgeting feature takes your spending insights one step further by helping you set up a budget. By analyzing your typical spending habits, Truebill can help you understand how much money you have available to spend each month. You can also use this information to create goal trackers within your spending categories. When you come close to the spending goals that you’ve chosen, Truebill can alert you to make sure that you’re staying on track.
It’s free to download and use the Truebill app. However, there are some features that do cost money.
First, let’s take a look at the free (lite) versus premium account features.
|Budgeting||2 categories||Unlimited categories|
|Credit score||Score only||Full report and score|
The Premium price is a pay-what-you-can model, with the cost being anywhere from $3 per month to $12 per month. You can also pay annually for $36 or $38 for the entire year. The Premium subscription can be canceled at any time within the app. If it’s not canceled, it will automatically renew.
You also should know that there are costs associated with some of the key features of Truebill. The bill negotiation service charges a percentage of your first year’s savings. So, if a bill negotiation is successful, you can choose to pay Truebill anywhere from 30% to 60% of the savings. If the negotiation is not successful, you will not be charged anything.
Truebill’s pay advance feature is a free service, but you have the option to tip Truebill a percentage of your advance amount. It’s completely optional, and Truebill says it will not affect your Truebill service or eligibility. You can elect to pay anywhere from 0% to 24% of the pay advance amount for the service.
Truebill’s website makes it tricky to find the customer service section. The drop-down menu has a Get Help button, but this only seems to take you to the home page. To reach the contact section of the site, you have to scroll down to the bottom and find the Contact button. From here, you can fill out and submit a contact form. Truebill says that it typically responds to these service requests Monday to Friday 9 a.m. and 5 p.m. ET.
- (415) 231-8180.
You can also use Truebill’s help center to find articles on common topics, such as how to use Truebill’s features.
Truebill Mobile App
Truebill’s mobile app is where you’ll mainly be using the service. It’s free to download, and the setup process is fairly straightforward. You’ll be asked about what you want the most help with, from budgeting to canceling subscriptions, boosting your savings and more. You’ll also be asked about factors such as whether you’re a renter, have children, pay student loans and so on. Then, you’ll create your account and be able to link your bank accounts and credit cards.
The app is simple and overall, easy-to-use. There isn’t much in the drop-down menu other than the option to go premium, edit your profile or get help. The customer service in the app is a bit better than the website, it seems. You can browse the help center, start a chat with the support team or suggest a feature from the Truebill app.
Overall, Truebill is a decent service if you’re looking for ways to cut unnecessary subscriptions and take control of your finances. The services it offers are robust enough to be a great starting point for anyone who is starting a financial journey. While the transparency on the features and pricing could be a bit better, Truebill’s pay-what-you-choose model is a nice touch. As long as you’re comfortable connecting your bank accounts to the Truebill app, it’s worth trying to see whether it’s useful for you.
Benefits of Truebill
There are several budgeting and money apps, but Truebill stands out in a few ways:
- Truebill is a relatively inexpensive app, even if you upgrade to Premium. For comparison, Trim’s premium plan is $99 per year.
- Truebill offers subscription cancellation and bill negotiation services, which apps like Mint do not offer.
- In addition to its unique features, Truebill offers budgeting and savings features, allowing you to do more within 1 app instead of downloading several.
Frequently Asked Questions
Is Truebill Premium worth it?
I wouldn’t start my journey with Truebill by signing up for Premium. The Lite account offers enough basic features to get you started. If you find that you want more features, though, the Premium account is relatively inexpensive and could be well worth the money.
Is Truebill a safe app to use?
Yes. It may seem scary to connect your bank information to an app, but Truebill assures that it uses the most up-to-date industry protocols to store your data, including bank-level 256-bit encryption. Truebill also does not sell your financial data.
Leslie (kanti) Pike
I am a massage therapist with congestive heart failure so I’m not able to work full time so I’m using money from my small IRA to survive (not good). I really need big changes and help so this is why I’m going Premium. I
I am new to Truebill...