Truebill App Review: Is Truebill Safe?

This post may contain links from our sponsors. See our disclosure for more information.

If you’re looking to take control of your financial future, this Truebill App review is just for you.

In this comprehensive review, I’ll share what this app is all about, and highlight some of the key features for helping you improve your financial health.

Let’s get started.

What Is Truebill?

Truebill is an app-based bill negotiation service that looks at your monthly bills to monitor price increases and sneaky subscriptions. The company then negotiates on your behalf with different services in an attempt to get your monthly bill lowered.

These bills are usually cell phone, cable TV subscriptions, and home security-related bills.

The company does this by examining your credit card and bank account transactions to see where money can be saved and make suggestions accordingly.

Truebill is headquartered in San Francisco and to-date, the company has saved over $14 million in monthly bills for its customers.

Some might wonder why not go it alone with getting bills lowered. But the benefits of going with a company like Truebill for bill negotiations is as follows:

  • The company has a strong reputation.
  • The platform generates real savings for clients.
  • A slick, intuitive mobile app is available.
  • Easy-to-use interface.
  • Ideal for cable and mobile phone bills.
  • Negotiates other bills such as satellite TV/radio, Internet, and home security.
  • Truebill has extensive experience working closely with the following companies: Comcast, AT&T, DISH, Charter, Time Warner Cable, Verizon, SiriusXM, DIRECTV, ADT, and more.

How Do You Use Truebill?

To get started with Truebill, you first need to connect your bank accounts and credit cards with the app to allow the software to review your transactions. After analyzing your accounts the platform will then automatically identify subscriptions and recurring bills.

Truebill’s goal is to plug any financial leaks in your monthly bills and subscriptions and to make your spending count. It does this by identifying the most appropriate subscriptions to keep, while getting rid of those you don’t need.

The whole idea is to save some money on your bills, while staying in control of your financial health.

To make Truebill’s entire range of services easier to understand, we can divide them into the following 4 parts:

1) Bill reduction

When you sign up with Truebill, it will prompt you to provide your bills to the app in the following steps:

  1. Find out the billing provider
  2. Let Truebill read your monthly bills by giving it access to them
  3. Give Truebill your contact details and enable “TrueProtect”
  4. Authorize Truebill to charge your credit card for its services

2) Subscription management

After your bills, Truebill also helps to reduce overspending and leakages in your subscriptions to cable TV and the like.

To accomplish this, the platform will want to link your credit card and bank accounts so that it can analyze subscription fees being paid for different services, and how the redundant ones can be eliminated along with renegotiating others.

Here’s a tweet from a user showing Truebill reminding them of upcoming bills.

3) Refund collection

Once you set up an account on Truebill, the company can send letters to your bank seeking various refunds that you may be eligible for. It can also monitor outages on your internet, cable, and phone, while seeking a refund from the service providers.

4) Premium Services

Besides bill reduction and subscription management, Truebill also offers services that helps with your finances and planning of your monthly budget. This is done through specialized tools available in Truebill’s Premium services, that cost anywhere from $3-$12 per month.

With the Premium service you will have the support of the concierge team who will handle subscription management and cancellation services.

How To Join Truebill

Joining Truebill is easy, simple, and also free. The process involves downloading the Truebill app from the Google Play Store or Apple Store and installing it on your mobile device.

You can also join by visiting the Truebill website, as well as having the platform text you the app.

Then you’ll need to register to set up your account on the app. Once this is complete, you can enter the billing and banking details for it to process your bills and suggest your savings.

Truebill charges 40% on the savings it gets you on your bills and subscriptions. It charges you on an annual savings.

For example, due to its efforts, if a monthly saving of $100 was accomplished, it will charge $480 on the savings for the entire year that is $1200.

Is The Truebill App Safe?

Whenever an app seeks access to your banking and financial records, it’s wise to be cautious. However, when it comes to Truebill, they take the security of their customers very seriously.

Here’s a list of some of the key points highlighted in the company’s security disclosure on what they do to secure the accounts of their clients:

  • Truebill uses Banking-grade 256-bit encryption.
  • The company uses the Plaid service to get information from other financial institutions.
  • Because of Plaid, you are not required to give banking credentials and the process is seamless.
  • At Truebill, your data is never sold to third parties.
  • Truebill stores its data safely on Amazon Web Services. This is the same storage facility used for sensitive data belonging to the Department of Defense, NASA, and the Financial Industry Regulatory Authority (FINRA).

The Truebill security measures are on par with the industry standards and the company does appear to do all that is necessary to protect and insure the security and safety of its customers.

Is Truebill Premium Worth It?

Truebill Premium is the next level of membership after the basic Truebill service. This membership also offers bill reduction and subscription management services.

What makes Truebill Premium different is that it brings a whole new suite of services that aim to bring financial discipline to your monthly budget.

It offers smart monitoring of budgeting and spending habits with the objective being to help you in make better financial decisions.

Let’s take a look at the services being offered as part of Truebill Premium. It includes:

  • Smart Savings Plans
  • Premium Chat
  • Balance Syncing
  • Custom Categories
  • Cancellations Concierge
  • Unlimited Budgets
  • And more…

The app’s Premium service is geared towards tracking your spending and saving habits, while offering expertise and convenience in helping you optimize your plan.

At a monthly fee of $3 to $12, or the yearly rate of $36 to $48, the Premium service is very affordable. While the free version is a solid option, the Premium membership is recommended for those looking to take their financial health to the next level.

Truebill vs Trim

While talking about Truebill, it’s hard not to mention its rival Trim. Both Truebill and Trim have often been confused for one another.

They both offer to negotiate with service providers, and lower your monthly bills for phone, Internet, cable TV, and more. Both take a cut from the savings they help you grow.

Their services are almost identical as they offer their services in partnership with nearly 15,000 financial institutions. Even their names also sound somewhat similar.

But they are two separate business entities and rivals to each other with some significant differences. The biggest difference is the fee that they charge for their services.

Truebill charges 40% on savings, while Trim charges only 33%.

Other differences include:

  • Trim offers subscription cancellation services for free, whereas Truebill offers the same service only as part of the paid Premium service.
  • Trim has a debt payoff scheme that costs $10 per month.
  • The Truebill app is available free on Android and iOS, while Trim’s app is not.

Is Truebill Legit?

Truebill has claimed to have saved money on monthly bills for thousands of customers. In total, at the time of this review, they claim to have saved over $14 million for their customers.

The company also claims that 80% of customers save money when they use Truebill to find and cancel unwanted subscriptions.

Better Business Bureau

The Truebill platform is not rated with the BBB, nor accredited at the time of this review.

Trustpilot

On the Trustpilot company review platform, Truebill has an excellent rating at the time of this review. The company has 4.5 out of 5 stars, with over 200 reviews.

While most reviews were positive, the biggest complaints came regarding customer service, and the difficulty in canceling the service. This would annoy anyone as there’e nothing more frustrating that having to jump through hoops to cancel a service.

Conclusion

The Truebill app has become popular as more and more people look to improve their financial health. Now you can have an experienced company help you lower your bills and free up money for savings.

The service isn’t perfect as all apps have their pros and cons. But if you’re searching for an extra tool for your tool belt, this app might help get you on the road to lowering your overhead and improving your financial standing.

One gripe about the company is that they could make it more intuitive to cancel the service to reduce customer frustrations. If you despise cancellation nightmares, then you might want to think twice before joining.

I’ll leave you with an excellent video overview on the Truebill platform. Enjoy!

Truebill FAQ

Is the Truebill app safe?

Here’s what Truebill does to secure their client’s accounts: Truebill uses Banking-grade 256-bit encryption. The company also uses the Plaid service to get information from other financial institutions. Because of Plaid, you are not required to give banking credentials and the process is seamless. At Truebill, your data is never sold to third parties and your data is stored safely on Amazon Web Services. AWS is same storage facility used for sensitive data belonging to the Department of Defense, NASA, and the Financial Industry Regulatory Authority (FINRA).

How do you use Truebill?

To get started on Truebill, you first need to connect your bank accounts and credit cards with the app to allow the software to review your transactions. After analyzing your accounts, the platform will then automatically identify appropriate subscriptions and recurring bills for savings and those you need to get rid of.

What is the Truebill app?

Truebill is an app-based bill negotiation service that looks at your monthly bills to act as your financial control center. The company negotiates on your behalf with different services in an attempt to get your monthly bill lowered. These bills are usually cell phones, cable TV subscriptions, and home security-related bills.

How do I cancel Truebill?

You can cancel Truebill by going to the ‘How to Cancel’ webpage and clicking on the link for the service that you are signed up for on the page. Simply scroll down the page until you find your service and then after clicking the link, you can find instructions on how to cancel for the subscription of the service you joined. The company does acknowledge that some subscriptions aren’t as upstanding and require you to wait on hold or even mail in a letter to cancel.

Categories Finance

Leave a Comment