The app connects to financial accounts at credit unions, investment companies, banks and credit cards. At a very basic level, it can show you balances on accounts, display a transaction history and provide other simple financial information. But, the real usefulness and power of the app rests in its search function.
For instance, it lists recurring monthly charges in response to the prompt "subs." This will let users see where their money is regularly going and help manage subscriptions they do not want or need anymore. Similarly, the bot lists spending by category. A command like "spend restaurant" will bring up all the money a user has spent at restaurants over a month period.
The app has one more added saving feature – subscription cancellation. It comes pre-loaded with instructions for canceling some of the most commonly canceled subscriptions, such as HBO, Netflix and Birchbox. You can get a breakdown of your monthly subscription costs, then cancel the ones you do not want, all without leaving the app.
On the business side, the app makes money with premium financial analytic services, like retirement planning and automatic savings. It also profits from cancellation in some instances. Some businesses require a certified letter to stop a subscription service, and Trim will send one on your behalf for $6!