Auto-bill can be a blessing and a curse, as you’ll see in this Truebill review.
It’s a blessing because you don’t have to waste time paying–or even thinking about–bills. Which leaves you with more free time to focus on what matters most to you.
But, automated billing can be a curse if you’re paying for subscriptions after you’ve stopped using them. And you’re likely paying more for more services than you think…
84% of people underestimate what they spend on subscriptions each month, as per a 2018 Waterstone Group survey.
Some popular subscription services include:
- Amazon Prime
- Music streaming
- Cloud storage
- Your gym membership
- Your car insurance
- Cable, cell phone bill
- Plus many more (often at a higher cost, too).
As you can imagine, with so many companies billing you at so many different times, it can be hard to manage it all. Which is what makes Truebill so helpful…
Truebill helps you manage, monitor and save on monthly bills.
In this new Truebill review we explore the upsides, downsides, and answer popular Truebill questions like:
- How does Truebill work?
- Is Truebill a scam?
- How much does Truebill cost?
- Or, if like me, you learn better by doing, skip straight to downloading Truebill (it’s free).
How Does Truebill Work?
With Truebill, you can:
- Lower your monthly bills
- Track and monitor your subscriptions
- Use the app to monitor outages
- Find ways to save money on your energy bill
When signing up, you’ll be prompted to select one of these “paths.” Let’s break down each one.
Lower Your Monthly Bills
Finding ways to save money on your monthly bills can be exhausting, and often leads to a negligible benefit at best on the personal finance side of things.
Truebill has an 85% success rate at negotiating down bills.
Truebill performs a bill negotiation with multiple service providers to help you find the best deals on everyday services. You can compare prices and rates for cable, AT&T cell phone & internet, cable companies, gym membership, and other services to lower bills.
Truebill users save 20% off their phone service, on average.
How do you get started? Once you sign up, you:
- Log into your service provider directly or,
- Scan a copy of your recent monthly bill for each service you use.
- Truebill then searches all service providers in your area or relevant to the service you use.
Then it looks for a lower rate, promotions, or deal.
Truebill provides you with a complete overview of cost comparisons so that you can decide which service is best for you. In return, you pay Truebill 40% of the savings.
Related: Want to cancel recurring charges with a text? Read our Trim Review.
For example, if Truebill saves you $200 on your annual telephone bill, you pay them $80 upfront. You will likely lose money upfront, but save money in the long run.
Track and Monitor Your Subscriptions
Chances are you probably have five to ten subscriptions that you pay for each month. Payment for these subscriptions comes out of your bank account or credit card.
Instead of wasting time looking through your statements every month, you can use Truebill to scan your accounts or streaming services such as Hulu or Netflix for any unwanted subscriptions and recurring bills.
Truebill assigns your bills to a virtual calendar so that you know when an automated payment will come out of your bank account. It also tracks changes in the amount you pay on certain upcoming bills.
For instance, if the amount of your bill changes, then you will receive notifications. You then have the option to adjust or cancel your subscription.
Use the App to Monitor Outages
If your power goes out or your Comcast or Verizon cable service suddenly stops working, Truebill can be valuable in helping you save money in account credits.
Cable went out? Truebill can auto-request a credit or fee refund.
Based on feedback from Truebill users, you can recoup an average of $100 annually in account credits when you lose service. Best of all Truebill does all the work for you.
Save Money on Your Electric Bill
You will only benefit from this feature if you live in certain areas around the U.S. If you live in areas where your electricity is deregulated, Truebill can search for the lowest rates for power.
Related: Want to save the environment–and potentially save on your energy bill? Check out Arcadia Power review.
For home and business owners in deregulated areas, you can save an average of 30% on your energy bill. Truebill does all the monitoring. You simply save money annually.
Is Truebill A Scam?
If you’ve read this far, you’ll know it’s not. Is Truebill legit? Yes, there’s no question.
But that doesn’t mean the application is not without costs or downsides. Mainly,
- Truebill does charge fees to use their service.
- Under certain circumstances, Truebill repurposes your personal information.
Truebill does charge a fee for their service. You can download the free app to your device. However, you will eventually have to upgrade to Truebill Premium to use the features.
How Much Does Truebill Cost?
- Recommended: download the app (it’s free)
- Their premium plan is $35.99 annually
- Or $4.99 monthly (at $59.88 annually)
If you choose to pay monthly, then you can use some of the features to cancel some of your subscriptions or services. If you no longer need those features, then you can switch to the free Truebill plan. Regardless of whether you choose the free service or the Premium service, Truebill will still charge you 40% of your annual savings upfront in the first year.
Truebill will not sell your information to third parties. However, it does allow advertisements from credit card and insurance companies. If you click on an advertisement, your personal information will be ‘leaked’ to these companies. Critical information such as your credit card, social security number, or bank accounts is 100% private and secure.
Bottom Line: Is Truebill Worth It?
Truebill is exceptional at organizing and monitoring your cable bill and subscriptions.
If you use Truebill regularly, you can save up to 40% off your some subscriptions.
However, if you do not have a lot of bills or any kind of monthly subscription, then Truebill may not be worth the effort or money you invest in the app.