Subscription canceling app Truebill adds new functionality

Now you can enlist Truebill's help with getting overdraft fee refunds

Technology trends and news by Josiah Motley
April 27, 2017
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The money saving app, Truebill, has added new functionality to its service today. Now they will help you fight the banks to get refunds on overdraft fees that may have happened due to a subscription service charging your account.

While you could do this manually, working with Truebill helps with the leg work and they have worked hard to truly understand how different banking institutions function when deciding on whether or not to issue a refund. By studying each specific algorithm associated with refunds, Truebill will reach out to the banks to help get those refunds issued. And with $11 billion in overdraft fees in 2015, there are a lot of potential refunds out there.

This new functionality works in conjunction with what Truebill was already doing, and doing well. Essentially, Truebill works with you and your bank accounts to identify subscription services and other renewing fees you have across your different accounts. Which may come to surprise you, honestly. So many things have underlying, small renewal fees that you may not have been aware of - things like "free" credit reports and airplane wi-fi services.

Once identified, Truebill will even help you cancel the services you're no longer in need of, a great help considering how many services intentionally make it difficult to cancel. 

Whether it's a just a simple email or form, or if it requires more work in the way of phone calls and actual letters, Truebill will take care of it. According to their website, they save the average user $512 per year.

In a world where subscription-based revenue models are becoming more commonplace, having something like Truebill could definitely come in handy, even moreso now with their banking fee refund features.