Over a year and a half ago I introduced you to Trim. If you recall Trim is a personal financial assistant that saves money for you. One of the key personal finance principles is automation, and Trim does just that. Trim analyzes your transaction history to show you all of your subscriptions. Then give you the option to cancel anything you don’t want to keep paying for. Well, the team behind Trim has been hard at work since our last visit and it time to unveil Trim new features.
Trim is not an App
That’s right Trim is not an app, it’s an AI chatbot service solely done via Facebook Messenger or SMS text. Trim features bank level security and uses 256-bit SSL encryption on their website, encrypted databases, and two-factor authentication when you sign in. Your data is only used for you: they don’t sell it. They safeguard your data using bank-level security at all times.
Trim offers three different tools all geared towards helping you save money. They are:
Users sign up through Facebook or SMS text, they enter their online banking credentials (username and PW) and connects successfully to one of their financial institutes. Once sign up is complete Trim will begin analyzing your account. Here are some of the things you can do:
- Cancel your old subscriptions
- Set spending alerts
- Get your balance
- Find out how much you spent on Uber last month
- Auto fight fees with your bank
All of these features are done via Facebook Messenger chat bot or SMS chat bot. Currently Trim has over 850k active users utilizing the Financial Manager service.
*As of June 2017, Trim Saving has been discontinued.
User signs up via Facebook (must have FB Messenger), enters Visa info that you use for all your grocery shopping. Once sign up is complete Trim will begin analyzing your account. Here are some of the things you can do with this free service:
- Coupons that auto magically apply to your Visa card
- Groceries: $1 on any purchase > $5 (you’ll receive 10 of these–a total of $10)
- Dining: $1 on any purchase > $5 (you’ll receive 10 of these–a total of $10)
- Movies: $10 on any purchase > $20 (you will receive only once)
- The cumulative value of the coupons / discounts / cashback from Trim Savings = $30
Trim Bill Negotiator – Comcast
Users again sign-up via Facebook or SMS. The user is required to input their Comcast credentials and credit card they use to pay their Comcast bill. Trim then begins the negotiation.
- Trim automatically negotiates user’s Comcast bill
- Users save between $5 and $50 a month on their Comcast bill by using Trim
- If Trim negotiates successfully, we charge 25% of the first month’s savings and give the user the rest! No savings = no charge.
One of the other tools Trim features is Price Patrol for Amazon. By linking your Amazon account and purchase card, Trim By will fetch your past Amazon orders and their current prices. If a price drop is found, Trim gets you a refund for the difference.
Overall Trim has a lot to offer and a number of great ways to help identify and automate saving money for you. Give it a try.
Which of Trims features seem most appealing to you?
Brian is a Dad, husband, and an IT professional by trade. A Personal Finance Blogger since 2013. Who, with his family, has successfully paid off over $100K worth of consumer debt. Now that Brian is debt free, his mission is to help his three children prepare for their financial lives and educate others to achieved financial success. Brian is involved in his local community. As a Financial Committee Chair with the Board of Education of his local school district, he has helped successfully launch a K-12 financial literacy program in a six thousand student district.