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Our Truebill review looks at the pros and cons of this versatile money app, how to use it, the features available, and whether or not it is safe to use.
What Is Truebill?
Truebill is an app available on iOS and Google Play that helps you save money.
Its mission is to help people financially live prosperous lives. They give their members a specific lens through which to view finances and provide important services that save money and time. This helps people with financial literacy.
Truebill hires people who have all sorts of background experience because they believe everyone has something to bring to the table. This team works together with the members of Truebill to create helpful services that improve financial wellness.
Over $100 million dollars has been saved for Truebill members, over 1 million subscriptions have been canceled, and there are over 2 million members of Truebill.
Let’s take a closer look at our Truebill review.
Truebill values both its internal affairs and its external affairs. That is to say, it is important that they treat their members as well as their team well.
They pay close attention to their members by staying in frequent contact to understand what they want and need.
They take pride in looking at long-term goals and accomplish tasks quicker than other apps do. They’re also passionate about protecting the privacy and security of their members.
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Features and Services
Our Truebill review looks at the following services offered by the financial app:
- Manage Subscriptions: Automatically finds bills and subscriptions for you.
- Autopilot Savings: Helps you save money without having to think about it.
- Spending Insights: Helps you track all your spending in one place.
- Credit Scores: Free access to your credit score and tracking of any changes.
- Bill Negotiation: Helps you negotiate your bills.
- Pay Advance: You can get an advance on your paycheck up to $1000 instantly.
Manage Your Subscriptions
Truebill helps you notice if you are subscribed to something that you don’t use or need. A concierge will cancel the subscription for you to make your life easier.
They have a section of the app dedicated to just a list of your subscriptions. There is a recurring billing section that helps members see what’s due and make successful payments.
This section of the app is truly a lifesaver for people who have trouble staying organized.
- Subscription cancellation
- Alerts you to upcoming recurring billing
You can choose how often you want to transfer money to your Truebill savings and it’s that easy! You can also adjust this or cancel it whenever you want.
This is incredibly helpful for people who want to take charge of their finances but always end up spending what’s in their checking account. If it’s in a savings account, you’re less likely to touch it.
- Automatic savings transfers
- Cancel or adjust anytime
- Set and forget functionality
Your spending insights section of the app breaks down your finances so you can see what you’re spending money on. It will also tell you about anything that you need to pay attention to so you know in advance.
It connects your bank accounts and can analyze what you spend your money on. It shows where you have room to change what you spend your money on to help you save for the present and future. Lastly, it will alert you if something is going to change or if you have a low balance to help you stay away from late fees or overdrafts.
These spending insights are beyond valuable. It is so easy to just spend money and at the end of the month wonder where all of it went. It takes a lot of time to look through your bank statement and add up each category of spending. With Truebill, you have an app that will do all that work for you.
- Shows you exactly what you spend your money on
- Connects with your bank accounts
- Low balance alerts
Your credit score plays a role in whether or not you can get new credit, what kind of interest rates you’ll be given, and even down to your car insurance payments. Truebill lets you see your full credit history and credit report, will alert you if there is something that is going to change your score, and will help you understand your report.
It will completely break down your credit score, including your accounts owned, new credit, length of credit history, credit mix, and payment history. Lastly, it has identity theft protection of up to $1 million and constantly monitors your money to see if there is any fraud.
Truebill truly helps you understand your credit. There are so many factors to a credit score that it can be hard to understand on your own. That’s why this feature of Truebill is so important. You will also be alerted when your credit score is about to change, so you can be prepared if you are applying for new credit. Having a full credit report helps you understand where your credit score is coming from. And fraud protection up to $1 million is a big deal.
- Access to full credit history and credit reports
- Alerts you to any changes to your credit score
- Identity theft protection of up to $1 million dollars
Truebill helps you get the lowest rates on your bills. It will look at different cell phone and cable options to see if there is anything cheaper for you. It will also help you get refunded for overdraft fees. In addition, it will help you find better car insurance rates. All you have to do is connect the car insurance you’re using and it will give you alternative options that might be a better fit for you.
It is so hard shopping for rates. With so many options it can be impossibly overwhelming to know what would work best for you. There are often hidden fees that you have to look out for too. But Truebill can do all of that for you. Just enter your information and it will find the best rates for you. This will save you the headache of doing it yourself and can help you save a lot of money.
- Helps get you the lowest rates on your bills
- Helps with overdraft fee refunds
- Finds hidden fees
- Finds you find better car insurance rates
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It is vital to have a personalized budget. Truebill makes it possible to create a budget that will track your spending organized by each category in your budget which helps you stay on the right path toward your financial goals.
First, Truebill will go through your transactions and walk you through how much money is available to you for spending per month, so you know what your total budget is. Next, you can create trackers for your goals per category. Truebill breaks down your spending habits and makes it so that you can create goals where you want to make a change. As you spend throughout the month, Truebill will categorize what you’re spending into each goal and will let you know when you’re getting close to your goal per each category.
This feature is so helpful for people who have a lot on their plate. When you’re paying rent, utilities, groceries, childcare, buying clothing, coffee, going out to eat, and want to just treat yourself every once in a while, it’s easy to overspend by accident. It’s as simple as cutting back on one night out of dinner to reach your goals, and with Truebill you will keep track and be able to do that. This feature is for the busy bee or the shopaholic, and it will save you money and curb your spending.
- Personalized budgeting system
- Goal tracking
Is Truebill Safe?
Truebill is 100% committed to your safety and security. They know how vital it is to keep your data safe. That’s why they use the highest quality encryption available to keep all of your information safely locked away. They also never sell your data, which can’t be said of all finance apps.
They use 265-bit encryptions just like banks do, use the most recent industry advancements, and are always up to date on the newest ways to protect you.
Truebill uses Plaid to safely connect to roughly 20,000 financial institutions throughout America. When you’re registering, you will put in your online banking information. That information never touches their servers or gets stored at all. They are sent via Plaid to your provider. Then, Plaid sends an encrypted token to Truebill that gives them the ability to see your transactions. Truebill cannot change your accounts in any way and you can unlink any of your accounts at any time.
AWS stands for Amazon Web Services. It is a highly secure data hosting and storage service that is online and used by NASA and FINRA, as well as the Department of Defence. No other party will ever touch your data.
Importance of Safety
Truebill truly goes above and beyond when it comes to keeping your data safe. You will never have to sweat knowing the security measures that are in place. With so much online fraud and so much data being sold all the time, it is important to know that your financial information is secure, and with Truebill, it is.
Is Truebill Free?
Truebill is free with the addition of optional services that require payment. For Premium, there is a sliding scale and you can choose anywhere from $3 to $12 per month. You can also choose to pay annually for $36 or $48 for the year.
Premium includes features like premium chat, custom categories, and smart savings. It renews itself automatically but can be easily canceled anytime you want.
It is definitely worth getting Premium for all the extra features it comes with. If you want to get the most out of Truebill and save as much money as possible, the Premium features are a must-have. With their sliding scale, it is truly affordable to everyone.
Although it is an investment, it is a small one that is well worth it. The app isn’t the same without the Premium features and they truly make a huge difference.
- Syncing your balance
- Premium Chat
- Cancellations Concierge
- Custom Categories
- Unlimited Budgets
- Smart Savings
How Do You Cancel Truebill?
You can disconnect any of your accounts at any time. If you have Premium, you can cancel it at any time.
First, you go to Settings and hit Premium. Then, you scroll all the way down the page and hit Modify Premium. Lastly, there are steps to confirm that you want to cancel your subscription.
With so many apps and services, there are tricks that make you pay an extra month or make it hard to find where or how to cancel your subscription. Truebill makes it easy to cancel and you can do so at any time. You can rest easy knowing that you aren’t tied or committed to Truebill in any way. They make it easy to quit their services because the services speak for themselves.
What Is the Truebill Pay Advance?
Truebill pay advance is instant money when you’re in a crisis. If an emergency happens, which it probably will, you can get up to $100 with no interest transferred into your checking in a matter of seconds. Truebill doesn’t check your credit for this.
First, you connect your account. Truebill is always tracking your balance and will identify your payment schedule as well as tell you if you’re about to overdraft. You can choose how much money you need up to $100 and it will be in your account within a minute. You pay it back on your next payday. You can also tip to help other people afford the program.
Truebill pay advance is truly a lifesaver. One flat tire or emergency doctor visit outside your budget can really mess things up. But with Truebill Pay Advance, you can afford those little emergencies and get a quick loan without having to get your credit checked. It is a relief to know that Truebill has your back in emergencies.
- Emergency money up to $100
- Paid into your account within a minute
- You pay it back from your next paycheck
- No credit checks involved
- No interest charged
What Are Some Truebill Alternatives?
There are quite a few Truebill competitors around. Here are just a few we will cover in our Truebill review:
Pocketguard is a budgeting app that is free. It connects to your accounts and analyzes bills and income that repeat. After that, it tells you how much you can spend every day. It categorizes your expenses and you can also create your own categories and put goals for spending on them. You can also connect your data to a spreadsheet so you can look at the numbers more in-depth yourself.
Go to Pocketguard
With Goodbudget you use the envelope system. With envelope budgeting, you take different amounts of your income and put them into spending categories. More than one device can use the same account so your family can all share a budget too. You don’t have to sync your bank account – you add your account balances on your own in addition to cash and debt. Then, you assign how much you want to spend.
Go to Goodbudget
What Is the Comparison Between Mint vs Truebill?
Mint connects to your accounts and tracks and categorizes your income and what you’re spending. If you go over your budget in a specific category or if other suspicious activity takes place, the app will let you know. You can also track all your bills and it will let you know when payments are coming up. Everything is free.
Although Mint is free and Truebill has a Premium option, Truebill has many more features than Mint does and is well worth spending some extra money on.
Go to Mint
Truebill Pros and Cons
Let’s look at the pros and cons of our Truebill review.
- Has many more features than most budgeting apps
- Has a free version
- Easy to use
- Great customer service
- Has a paid plan
Truebill Review Wrap Up
Truebill is an incredible app to help you save money. It has a list of features that just keeps going and uses the same security system as NASA. It will help you budget, cancel subscriptions, avoid overdrafts, and much more. Truebill is your best option when it comes to a financial app.