Apps that automate everything for us are becoming the norm. Still, one of the places most people need help with is their financial lives. While other financial apps help to track spending, budget and make money concerns easier, there is one company that has been getting attention because it claims to help you cut out unnecessary charges.

Trim is a financial website that works more like a virtual assistant, alerting you whenever you can save by not paying for services. They claim that the app has helped users saved a combined amount of $1,000,000 in one month alone.

Here’s how Trim works

If you sign up with a Trim account, it requires you to give access information to your debit and credit cards, as well as online bank accounts. Then the AI magic begins—Trim will look for recurring charges on your cards.

How Trim Connects Accounts

You might feel a little unsure about volunteering financial information online. But Trim uses bank-level security, promising peace of mind for anyone with doubts. It does the connections with 256-bit SSL encryption, two-factor authentication, and read-only access.

After identifying your charges on your cards, Trim sends a text or Messenger alert, to ask if you would prefer to cancel the subscription. If you are considering using Trim here is a list of pros to consider:

1. Lower bills

If you have recurring subscriptions to cable TV, internet, or phones, you might save a lot each month by having Trim tally up those costs and help you lower them.

2. Keep in Check with Spending notifications

It’s easy to sign up for a “30-day free” offer on many products, but then forget about them and succumb to the recurring charges once your free session is over.

If you find yourself continually having to pay surprise amounts because you simply forgot, Trim helps you keep track. They do this by sending easy alerts and notifications, letting you know how much you can actually save by canceling a particular purchase.

3. Get Money Back on Price Differences with Amazon

Unlike a complete refund, this is still a genius way to help you spend less. If price drops happen on Amazon less than 7 days after you paid the regular price, Trim will patrol this. You can actually get help to file a claim to Amazon and avail of money back for price differences.

4. Bank Account Alerts & Visa Rebates

You can personalize your Trim account to notify you of more things—very similar to what you might hire a personal accountant or assistant to manage.

–shifts or drops in your balance

–late fees

–large transactions

–cash back rebates on Visa

What’s the Catch and how much does it cost?

While Trim does save you money, it still takes out a cut. A percentage of the money you have saved goes to them. Think of this as the payment you might give your financial assistant or advisor.

Their third-party partners also pay them in commissions and referral funds. Still, the percentage is minimum, and the fact that they can negotiate spending for you makes financial problems easier to deal with.

Technically, Trim isn’t an App, but more like an AI assistant, whom you might want to build a relationship with. It promises a lot more in the future, and by the looks of the things, users are happy with Trim’s help with better personal financial advice, education and savings.