Plagued by Unwanted Emails And Subscriptions? This Service Fixes All That

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Source:   —  April 02, 2016, at 1:21 PM

But, whether your monthly shipments of running gels are piling up, your home-cooking ingredients are getting moldy in the hallway, or you never read that magazine that'south been coming for years, most people necessity a small assistance managing their recurring commitments — and that'south the ones we know about.

Plagued by Unwanted Emails And Subscriptions? This Service Fixes All That

Subscription services are the new huge thing in America'south evolving on-demand economy, as our active lives dictate that goods should arrive to us instead of the other way round.

But, whether your monthly shipments of running gels are piling up, your home-cooking ingredients are getting moldy in the hallway, or you never read that magazine that'south been coming for years, most people necessity a tiny assistance managing their recurring commitments — and that'south the ones we know about.

Enter Truebill, a free service that automatically digs up your long-lost subscriptions and closes the loop. And yes, that even includes notoriously hard-to-cancel gym memberships.

"Subscriptions are a grand thing," Truebill cofounder and CEO Yahya Mokhtarzada told NBC News. "But with number platform to manage them, having too many subscriptions becomes overwhelming for users. We wish to solve this headache for consumers and give people an simple way to discover, manage and customize their subscriptions."

Truebill uses an "accurate and strong algorithm" to sift through a user'south credit card statements and bank accounts (even international accounts) to dispose long-forgotten subscriptions. It also monitors your accounts monthly to alert you to rate hikes or extra fees, and follows up to create sure cancellations were successfully processed.

The savings can be instantaneous: Alex Mathews signed up for Truebill and reported that the service "immediately found a monthly DropBox subscription I'd hooked up to a credit card I wasn't using and had set to auto pay the bill — so that'south 0 a year in savings within twenty minutes of signing up!"

To date, Truebill users have canceled over $300.000 in annual subscription fees, according to the site'south founders.

"Around seventeen % of people who sign up cancel a subscription on our platform, and the average person who uses Truebill saves $512 per year. In many cases, we're even able to deal and rescue users even more," Mokhtarzada told NBC News, referring to instances when a cancellation threat led to a company offering a lower price.

The idea for the service came about one day after Mokhtarzada, who was vice president of business development for Nanigans advertising platform, discovered a mystery $40 fee on one of his credit cards.

"Upon digging into it, I realized I'd actually been paying $40 a mo for fourteen months for an [inflight Wi-Fi] subscription I'd number idea I was paying for — and hadn't been using," he said.

"I mentioned this to my brother and it immediately struck a chord. He'd a similar experience, and the light bulb in our heads immediately turned on and we thought 'Let'south solve this.'"

His brother, Idris Mokhtarzada, presently co-founder and chief technology officer at Truebill, co-founded the website host webs. com, which was sold to Vistaprint in two thousand-eleventh.

"We're both very interested in consumer financial empowerment," Yahya said. "Truebill'south goal is to defend our users to create sure they're never overcharged, and never pay for anything that they don't want."

With an eye to future revenue, Mokhtarzada said there'south an eventual strategy to link to third parties in a similar vein to Mint'south in-app suggestions, with each new signup earning a referral fee for Truebill.

"We think that in the process of saving users money, there'south also an opportunity to assistance users discover new services and subscriptions that might assistance them further save, or might oversimplify their lives," said Mokhtarzada.

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