Imagine you can have lower bills and more time. Sounds good, right? Keep reading our BILLSHARK review and find out how much money you can really save.
BILLSHARK Review: Automated Bill Negotiation or You Pay Nothing
What do we mean by ‘You pay nothing’? Is it even possible? Yes!
With our BILLSHARK review, you will learn how to save money and time, as well. There is no person who wouldn’t like to cut a better deal or have bills negotiated lower.
Therefore, today’s BILLSHARK review brings you all you need to know about automated bill negotiation. What is BILLSHARK, how it works and why it could be useful are just some of the topics we’ve prepared for you.
Let’s explore the world of lower rates.
Table of Contents
What is BILLSHARK?
BILLSHARK is a financial tool oriented via lowering your bills. It negotiates with your current providers to lower monthly bills. The best part about it? It is not only available for individuals but also for businesses.
Entrepreneur Steve McKean founded the company in 2015. Today, they are located in Hopkinton, southwest of Boston. Backed up by star Mark Cuban, BILLSHARK has a big goal on its mind – to save more than $2.7 billion by 2025.
Moreover, BILLSHARK has an 85% success rate. They also charge a fee depending on the amount of savings. However, if they can’t save your money, you don’t have to pay for anything.
When it comes to numbers, let’s not forget to mention the amazing rating they have. They are accredited with the Better Business Bureau and they have an A+ rating. It’s an average of 4.5 stars out of 122 customer reviews. Not bad, right?
If you want to be the first to hear news from this financial savings company, feel free to visit the BILLSHARK shark tank.
How does BILLSHARK work?
BILLSHARK works in a way that searches for the hidden costs of your bills. After locating them, it turns them into savings. They can also cancel any unwanted subscriptions in order to help you make savings. As a result, they free up time for you to focus on things that are more important.
Moreover, as they are a team of professional bill negotiators, they already have experience in negotiating savings on monthly bills. Some of the names they worked for are Cox, DirecTV, Time Warner, etc.
Furthermore, keep in mind they will never automatically switch your service providers.
Their main goal is to save you as much money as possible while keeping you with the providers you already have.
For all those who are wondering, ‘How do I start with BILLSHARK?’ here it is.
First, you will have to sign up on their website. Therefore, you will need to create an account (check out our how-to-guide below!). The next step is to download the app. It is available for both Android and iOS, so choose the one you need.
After downloading the app, take photos of your bills and simply upload them. BILLSHARK will require some additional information about the parts of the bills that you want to be negotiated.
You will also need to input some personal information.
Moreover, BILLSHARK may ask you to provide them with a PIN of your bank account. As a precaution, be sure to change it after the negotiations are over.
Once they have all the information needed, negotiations will begin. Experts in bill negotiations will investigate your bills and get in touch with your service providers, negotiating on your behalf. During this phase, you can expect regular updates on the negotiating process.
Finally, you will receive an email or a phone call after a successful negotiation.
In addition to the above, you will receive detailed listings on the savings you made, as well as the invoice based on those savings.
See Related: Personal Financial Plan Example
How to create an account with BILLSHARK?
To set up your account with BILLSHARK, simply follow the steps below.
Visit the website
Go to the BILLSHARK website and choose the option ‘Lower My Bills’.
Create an account
Create an account using your email address and choose the password. Additionally, you can sign in with your Facebook or Google profile.
Type of services
Select the type of service you’d like to save money on. As you will see, those are subscription-based services such as the Internet, Home Security, Satellite Radio, Wireless, Pay TV, and Others.
Choose your bill’s service provider
Select your type of service in the option. Here is an image of what that looks like.
Send your bills to BILLSHARK
You can send your bills to BILLSHARK with two options. You can choose to upload them through its secure website or app.
In this case, your bill should be uploaded as JPEG, PDF, GIF or PNG.
The other option is to have BILLSHARK get the bill for you. If you opt for this choice, you will need to enter the username and password for your service provider.
Provide additional information
At the end of the process, you will have to provide some additional information. Enter your full name, phone number, and the last four digits of your Social Security number.
You can also add any special instructions.
The last step is to click ‘Save Now’ and let BILLSHARK save your money.
BILLSHARK Review: BILLSHARK for Businesses
As we already mentioned at the beginning of this BILLSHARK Review, the company can be used by businesses too.
Therefore, if you own your business, or manage one, you can still use BILLSHARK to save on corporate expenses.
As they are also oriented to business bill reduction, their service in reducing business bills has more than a 90% success rate.
The principle is the same as that of the individuals. You can send them different kinds of bills such as telecom, mobility, waste management, payroll, document service bills, etc. After that, they will work on finding the best savings.
Additionally, BILLSHARK can help you ensure that you are reimbursing your employees only for the lowest-cost internet plans and wireless.
If you are still not sure about it, check out some of the world-known names that have already used BILLSHARK.
Some of them are Delta Airlines, Gannett, MGM Resorts, and many others.
Are you ready to jump on the BILLSHARK wagon?
Is BILLSHARK free?
BILLSHARK designed its financial management services to help you get your finances in order while spending less money. That is why no services the company provides are free of charge.
BILLSHARK cost is 40% of the amount they save you in a year. For example, if they save you $100, the amount of $40 goes to them. This way, the amount of total savings is $60.
Another great thing to know is that they can negotiate one-year or two-year contracts. In other words, you won’t be charged for the savings made over the lifetime of service with the company.
Moreover, for all those who cannot pay the full amount upfront, there is also an affordable option.
In this case, you can choose a payment plan to spread the payments over two to six months with a one-time payment fee of $9. However, if they cannot successfully negotiate savings for you, you will not need to pay any charge.
In addition to negotiating better rates on your bills, BILLSHARK has another service to provide. They can make service changes or cancellations on your behalf.
BILLSHARK cost for these types of services is a flat rate of $25 per subscription.
See Related: Earny App Review
Is BILLSHARK Safe?
The answer you will get reading various BILLSHARK reviews is ‘Yes’.
BILLSHARK promotes its services as safe and secure. They use standard 256-bit encryption, which is the same technology the banks use when submitting your payments. Besides that, the company doesn’t store your credit card information.
They also undertake not to provide your information to anyone without your permission.
BILLSHARK Review: Pros & Cons
Like any other financial management tool, BILLSHARK also has its own advantages and disadvantages. Here are the overall pros and cons, which need to be considered.
What is great about BILLSHARK?
BILLSHARK is negotiating lower rates on your behalf. You don’t have to spend hours calling service providers, trying to get a better rate. BILLSHARK does all the work. In addition, you will avoid ‘dead-end’ conversations and long hold times.
When it comes to BILLSHARK’s cost, the great thing is that you don’t pay until you get a better rate. In other words, if the company does not successfully negotiate savings for you, there is no charge.
See Related: Best Alternatives to Mint to Manage Your Money
The best way to see how something works is to see it by yourself. Use the BILLSHARK savings calculator to see how much money they can potentially save you. It is completely free and you don’t have to sign in with your email address.
All you have to do is enter your numbers and use the slider to indicate the amount of your bill. The next step is to choose a type of bill and you will get your estimated yearly savings. Not bad, right?
If it happens that your provider doesn’t follow through with the negotiated rate, BILLSHARK has got you covered. In other words, they will adjust the savings fee.
As they use the same technology as banks, BILLSHARK services are safe and reliable.
They also undertake not to provide personal information to third parties.
BILLSHARK proudly stands with more than an 85 % success rate. The company ‘sharks’ are highly motivated because their payment depends on the savings they’ll make.
To make the most of your cost-savings, BILLSHARK developed an app. It is available for both Android and iOS, and it is totally user-friendly.
BILLSHARK has an interesting reward program. You will get a code, which you can later exchange for a $50 travel reward, $25 dinner reward, $50 grocery reward, or a $100 dining and shopping reward.
Moreover, they started a ‘One Bill, One Child’ Program to help middle school students. For every bill you submit to BILLSHARK, they will pay one hour of instruction in personal finance basics provided by Ramsey Solutions.
The goal is to empower children to become independent and financially successful adults.
In other words, BILLSHARK has set a goal of educating at least one million children by 2025.
See Related: TopCashBack Review
What’s not so great about BILLSHARK?
High service fees
BILLSHARK cost is 40% of the savings made for you. Compared to some other cost-savings platforms, their service fee is slightly higher. For those who cannot pay the amount upfront, there is another payment plan available.
To spread the savings fee, you will need to pay $9 to implement a two or six-month plan.
As we already mentioned in this BILLSHARK review, 40% of your long-term savings need to be paid upfront to BILLSHARK. After the successful negotiation, within three days you will receive an invoice. The payment is due within five days.
BILLSHARK vs Trim
Trim is another cost-saving platform that helps people reduce their spending. Although BILLSHARK and Trim are similar, there are some differences.
When it comes to the three most important items, here’s how things are:
BILLSHARK cost is 40% of savings, while Trim charges 33%.
BILLSHARK has developed an app, while Trim has an online personal finance dashboard. It communicates via Facebook Messenger or text.
Both platforms are safe and reliable. BILLSHARK uses standard 256-bit encryption, while Trim uses Plaid encryption. This way, they keep client data safe with two-factor authentication.
For all those who are interested in more detailed differences between BILLSHARK and Trim, take a look at the table below the text.
|It doesn’t matter which payment method you use||Works best if you use a credit or debit card for most of your spending|
|Bill savings and subscription management||Bill savings, subscription management, comparing expenses, budgeting reports*|
|Create an account using Facebook or Google and upload your latest bills||Create an account using Facebook or email, and enter your bank account details|
|Charges a fee based on the savings app makes for you (if the app doesn’t make any savings, you pay nothing)||Debt Payoff Program that partners with a financial coach to advise you on an individual finance plan|
|85% success rate and a great reward program||Free basic platform with cashback offers|
*for a $2 per month charge, Trim will pay 1.5% in your savings
BILLSHARK Review: Conclusion
A cost-saving platform, such as BILLSHARK goes. The best part about it? BILLSHARK does all the work.
All you have to do is to sign up and let the magic begin. Highly motivated ‘sharks’ will negotiate on your behalf, searching for hidden costs and turning them into savings. If they succeed, they will charge you 40% of the money they saved in a bill-year.
On the other hand, if they don’t successfully negotiate, you don’t have to pay anything. Even though their service fee is slightly higher than within other similar platforms, they can boast figures.
An amazing success rate of 85% means they save an average of $512 per year.
We have to admit it, it’s a significant amount of money-saving.
However, as with any other financial service, it is good to consider all the pros and cons before trying it.
We hope our BILLSHARK review has helped you learn more about this popular financial tool.
If you have more questions or you would like to know more about specific features, let us know in by contacting us. We’d love to hear from you!