Truebill Review: Save Up To $729/Year Using This Budget Tracking App

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I cut the cord on cable years ago, tired of paying nearly $200 a month to watch TV and movies when all I needed to do was stream on YouTube TV, Apple TV and Netflix. But I've noticed I keep adding more services, especially during the pandemic when I've been stuck at home. Hulu? Got it. HBO Max so I can watch the one show I can't get anywhere else? Yup. Disney+? Got it too. (Don't tease, I use it to watch Marvel and Star Wars.)
So how much are all of those channels costing me? A new app helped me realize that I am back to spending what I was on cable TV. Instead of one flat fee, I've been duped into thinking my cheaper streaming channels don't cost me as much. Except when you add up the totals.
The app also showed me subscriptions to things I don't even remember signing up for. (So that's why I am still getting Entertainment Weekly.)
That's what Truebill is all about. It is showing me where I am getting nickeled and dimed so I can reel it in and save some money. Up to $729 per year!

What is Truebill?

If you have debt, you may find that TrueBill can help you get out of debt faster. For example, TrueBill can be really beneficial when helping you with spending habits and then a debt payoff app like Savvy can compliment TrueBill to help you eliminate debt faster because you are taking your spending habits into account.
On top of this snapshot, Truebill can actually negotiate monthly bills on your behalf and help unsubscribe you from unwanted subscriptions and memberships, like a gym membership. This can save you time on the phone negotiating with numerous companies and ultimately, save you money each month. Consider the app as your personalized "cancellations concierge."
A study by Waterstone Group found 84% of us usually underestimate how much we spend each month.
Truebill wants to stop that and works to save and find you extra money in areas you don't realize you're overspending, from your Verizon bill to your Hulu subscription. It also has an 85% chance of lowering your phone, cable, and internet bills.

How does Truebill work?

To get started with Truebill, you’ll first download the app on your smartphone or sign up via the webform.
Once you’ve created an account, you’ll link your bank accounts through the app to give Truebill access to your withdrawals, expenses, and deposits.
Truebill Onboarding Screen
From here, Truebill will search for any automatic payments leaving your account each month, identify these transactions, and ask you to review them. If you want Truebill to cancel or negotiate the price of any of these subscription services or monthly bills, you can let Truebill know by selecting “cancel” and the app will walk you through relevant next steps.
If you don’t find any recurring bills you’d like Truebill to help with, there’s nothing more you’ll need to do.

Smart Savings

Truebill offers a unique feature, Smart Savings, that can help you budget better and automatically save money. You’ll be able to schedule automated savings amounts to help meet your financial goals, while setting a budget for all of your spending categories to help boost your savings and reduce your expenses.
Although the app is mainly known for cutting subscriptions, its primary goal is to save you money, and your membership comes with additional tools to create robust savings plans.
To start a budget, simply click on Start My Budget in your Reports tab. Confirm your income and recurring bills, add budgets, and Truebill will automatically track your budgets to keep you on track.

How much does Truebill cost?

Truebill allows you to use the app for free, but to take advantage of its full breadth of features, you’ll want to explore some of its premium services:

Premium service membership

If you want Truebill to cancel or lower bills on your behalf, you’ll need to become a premium service member. A premium subscription costs between $3 to $12 per month, depending on the services you’re interested in. You can also pay annually, upfront, for $36 or $48. Premium membership gives you access to cancellations, balance syncs, concierge help services, chat, custom spend categories, budgeting tools, smart savings features, and more.

Bill negotiation

Truebill also charges you 40% of your first year’s savings. This means, if Truebill is able to cancel one monthly bill of $10 per month and negotiate your cell phone bill from $100 to $50, you’ll be saving $720 per year ($10 x 12 = $120; $100 - $50 = $50 x 12 = $600; $120 + $600 = $720).
In this scenario, Truebill would charge you 40% of the $720 saved, or $288. This will be charged in a lump sum, though a payment plan extending to 6 months can be accommodated. Keep in mind this fee is charged upfront once automated payments have been reduced or canceled and not at the end of your first year. This percentage is only charged if Truebill is able to save you money or cancel your subscription.
This feels like a win-win to us.

Truebill features

Categorize your spending

Truebill not only tracks your bills and spending, but it can also categorize them and allow you to customize these categories to gain better insight into where your money is going. Truebill will sync your spending from your financial institutions each month, so you can see how your money was spent. Not only is it helping to cancel your subscriptions but this helps you achieve your savings goals.
important: Ever wanted to categorize your monthly spending but never had the time to sort through your bills? With Truebill, all you need is to connect your bank and credit card companies in the app, and they automatically track your spending across different categories. Now you can see where your money is being spent.

Negotiate bills on your behalf

If you have bills you’re automatically paying, you might be overspending.
When’s the last time you looked at your car insurance bill or cell phone statement?
Truebill will negotiate with companies on your behalf to help you save money by getting you access to the best discounts available, so you can enjoy the savings without spending hours on the phone or live chat.

Cancel subscriptions and memberships

Do you know how many monthly subscriptions or memberships you’re signed up for? Truebill will analyze your automatic payments and identify all of them for you so you can decide if any are a waste of money. Haven’t been to the gym in five years? Truebill will try to cancel your bill for you.

Outage refunds

Truebill can also help you recoup money on your internet bill if you suffer from outages. The app will request refunds for days your service may have been down, including your cable at top providers like Comcast. If Truebill is able to get you a credit from your internet provider, they’ll charge you 40% of the amount credited.

Free credit score

Truebill also offers you a look at your credit score so you can see how reducing expenses, paying bills on time, and canceling unwanted subscriptions can help boost your score over time. Getting your expenses under control and avoiding late fees can also help lower rates on credit cards in the future, leading to a better credit score.

Overdraft protection

Although Truebill cannot negotiate to get any overdraft fees refunded, by tracking your balances and upcoming bills in the app you can see if an overdraft may take place and make changes to avoid it. You can also set your account to provide you with balance alerts so if your account drops below a number you set, you'll get a notification.

Pay Advance

Truebill offers a Pay Advance service to borrow against your paycheck early. Once you receive your paycheck you pay Truebill back with no interest or extra fees.
Truebill 4

Premium Chat

If you ever need to speak with someone at Truebill, you can always do so on the app using Premium Chat. Their customer service is rated excellent by users on TrustPilot

Who is Truebill best for?

Anyone struggling to cancel memberships

Some companies make it difficult to cancel your membership, requiring in-person visits, long waits on phone lines, or even certified letters. Truebill can’t guarantee they can cancel every single unwanted membership, but they have helped many people get out of subscriptions and memberships that were hard to end.
tip: The primary benefit many users find from Truebill is its ability to find and cancel unused subscriptions quickly. Nearly 85% of people forget about the services they've subscribed to! Truebill makes it quick and easy to eliminate these subscriptions or memberships.

Anyone with multiple monthly payments

If you have dozens of monthly subscriptions, memberships, and other automated payments you haven’t reviewed recently, Truebill will be a good tool to help you start cutting back on unused subscriptions.

Anyone finding budgeting difficult

Whether you’re a premium member or not, Truebill does offer you access to budgeting tools that can help you finally get a grasp on where your money is going each month, so you can make even better financial decisions.

Who shouldn’t use Truebill?

Anyone struggling to pay monthly bills

While I love how easy it is to use the Truebill app, I don’t recommend signing up if you’re struggling to pay your bills on time or if you’re being charged late fees due to the 40% upfront payment Truebill takes for its service. Instead, I recommend looking through your subscriptions and memberships yourself to find out what can be cut and put in the work yourself. While it will require more time investment, you won’t be paying an app to help you save money, and you won’t lose a portion of the savings.
warning: If you're currently behind on your bills, Truebill may not be the best option to use at this stage. Instead, we suggest scanning through your credit card statements to identify services you can cancel. It'll take a little longer but end up saving you even more money.

Pros & Cons

  • Easy to use - Once you sync your bank account, Truebill is a breeze to navigate. The app is intuitive and well laid out, making it easy to take advantage of all of their features. Canceling or negotiating a bill requires a simple click and reviewing your finances is downright simple.
  • The savings are hard to beat - Truebill can save you heaps of money each month and help you get unsubscribed from dozens of unwanted memberships without needing to invest hours of your own time. This is a great tool for anyone who fell victim to subscription boxes or monthly memberships that simply aren’t benefiting your life or bank account.
  • Automated savings - Truebill also offers automated savings features in its Smart Savings feature that works hand-in-hand with its budgeting tools to help you grow your savings while also reducing your monthly expenses. Again, this feature lets you schedule how much you want to save and the app will ensure it happens.
  • No truly free version - It’s time-consuming to negotiate bills, which is why Truebill charges a percentage of any bills cut or reduced. With this in mind, I think they should offer a free version to show users how much they can save, perhaps offering a limited number of cancellations (while still charging 40% if money is saved).

Truebill vs. competitors

CompanyFree Download AvailableMonthly CostFee for Cancellation ServiceSavings Account Option
TruebillYes$3 - $12 for premium40% of savingsYes
TrimYes$10 for premium33% of savingsYes, with 4% APY up to $2,000
BillSharkYesNo monthly fee40% of savingsNo

Free to download

Truebill, Trim, and BillShark all offer free app downloads and free versions of their services. Trim also offers a free trial you can set up to test out some of their premium features before committing to a paid membership.

Monthly cost

Depending on the services you need, Truebill might only cost you $3 per month for a premium membership, though it could cost up to $12. Trim has a one-size-fits-all premium membership of $10 per month. BillShark has no monthly fee.

Cancellation charge

All three services will charge you a percentage on any bill they cancel or reduce. Truebill collects 40% of your first year’s savings while Trim collects 33%. BillShark will also charge you 40% of all subscriptions canceled (no yearly limits).

Savings account option

Both Truebill and Trim offer savings account options for premium users, but Trim offers up to 4% APY on your first $2,000 saved. BillShark does not offer savings accounts.


Is Truebill free?
Truebill does offer a free account, but to take advantage of their bill cancellation and reduction services, you will need to pay a monthly fee of $3 to $12 and a percentage on the amount saved.
Is Truebill safe?
When connecting your bank account to Truebill, a 256-bit SSL encryption is used to keep your login and password information safe.
How often does Truebill sync bank information?
Your bank information will sync to Truebill once a day. If you’re a premium member, you can press the “sync” button on the app to get up-to-date account information.
Is Truebill FDIC-insured?
Yes, if you choose to open a savings account with Truebill, your money will be insured by the Federal Deposit Corporation (FDIC).
Is Truebill better than Mint?
Truebill and Mint offer some of the same services. Both allow you to budget, track spending, and monitor savings. However, while Mint is primarily a personal finance tracking tool, Truebill is designed to help you cancel any unwanted subscriptions and reduce automatic monthly bills.

The bottom line

If you know you have more than a few monthly subscriptions, memberships, or bills you’ve been wanting to cancel but never seem to have the time to do it, Truebill is a best-in-class solution. I’d encourage you to first sign up for their free account to review all of your subscriptions to find out if you might prefer to cancel these subscriptions on your own.

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