DollarBreak is reader-supported, when you sign up through links on this post, we may receive compensation. Disclosure.
Billshark helps you to get your finances in check. This service can help you to eliminate unnecessary spending and unwanted subscriptions, saving an average of $300 to $500. It can also negotiate better rates on your bills. Although there is a 40% commission, if Billshark is unable to save you any money, you’ll pay no fees.
- No Savings, no commission
- 90% success rate
- Receive $10 per referral
- Saving on average $300 per year
- Need to upload bills
- Hefty 40% commission
Jump to: Full Review
Compare to Other Money Saving Apps
18 ways to earn money – surveys, coupons, cashbacks + $5 sign up bonus
Up to 10% cashback from stores – Walmart, Amazon, Best Buy, JCPenney
Most members can earn an extra $50 – $200 a month using Swagbucks
Get 25% bonus if you find another site with a higher cashback rate
Over 5000 stores where you can get cashback up to 40% on your spending
5 different ways to get rewards and 6 different ways to cash out your earnings
How Does Billshark Work?
Most people don’t monitor their monthly bills, so they may not even be aware of where they are spending too much. Billshark is a platform that can help you to get savings on your bills and subscriptions. The company can negotiate and cancel expenses on your behalf.
While it is possible to negotiate with your providers yourself, this can be a time consuming and frustrating process. Billshark takes all the hassle out of negotiating savings on your bills.
When you open a Billshark account, you can download the mobile app. You can then use your mobile device to take pictures of your bills and upload them to the platform. Billshark will ask you to confirm the parts of the bill that you give permission for them to negotiate.
After Billshark has all the necessary information, including some of your personal details, they will start to negotiate on your behalf. You’ll receive a phone call or email to let you know how much you can save and when the savings will go into effect. Billshark will also generate an invoice to show its fees.
How to Lower Bills with Billshark?
Is Billshark Safe?
Since the company is dealing with your personal financial information, you need to feel confident that the platform is safe. Billshark appreciates this and aims to reassure all potential users that its platform is safe.
Billshark employs standard 256 bit website encryption. It also has security best practices to protect your data shared with your bills. Billshark employees have limited access to your data and the company does not allow any third party access to personal information.
How Much Does Billshark Cost?
Billshark charges a 40% commission on any savings it can make for you. So, if Billshark can save you $200 on your bills, you can expect to pay $80 in commission. However, you’ll still make savings of $120.
While this may seem steep, the Billshark fees are only applicable for the associated contract period. So, the commission will only apply for the first year. You won’t continue to pay commission for lifetime savings with your service provider.
Typically, you’ll need to pay the Billshark commission once the savings are confirmed. But, in the case that Billshark can save you a large sum, you can spread the commission over a two to six month period. This attracts a one time fee of $9.
How to Open Account with Billshark?
Step 1- Create Your Account
The first step to opening up a Billshark account is to sign up. You’ll need to provide your name, email address and phone number. There is the option to sign up using your Google account profile.
You will then need to create a password. Remember that Billshark requires providing your personal financial information. So choose a secure password like one you would use for online banking, rather than the name of your family pet!
Billshark offers a free savings calculator as part of the account creation process. This will help you to explore the possible savings. Be aware that these figures are an estimate and there are no guarantees Billshark will be able to accomplish these savings.
Step 2- Choose a Service
Once you create your account, you can choose the negotiation services you would like to use. The list of options includes internet, satellite radio, pay TV and wireless.
If you want to negotiate multiple bills, you can repeat this process as many times as necessary. Bear in mind that the more contracts you permit Billshark to negotiate, the higher the potential savings.
Step 3- Upload Bills
You will then need to upload digital copies or photos of your bills. The app makes this easy, as you can use the camera on your mobile device and upload them quickly.
You can also upload the bills via the website. Billshark requires these digital copies, so a representative can gain all the necessary information to negotiate a reduction.
Types of Bills Billshark Can Lower?
Whether you have cable or a pay TV subscription package, Billshark can negotiate a more competitive price on your behalf.
Billshark can also negotiate to lower your bills for satellite radio services.
What are the Billshark Pros & Cons?
- Free Sign Up: There are no fees or charges to sign up for Billshark.
- No Savings, No Commission: If Billshark is unable to negotiate any savings on your bills, you will not need to pay for its services.
- 90% Success Rate: Billshark has a 90% success rate at lowering its clients’ bills.
- Referral Program: Billshark has a referral program where you can receive a $10 gift card for each family member or friend you refer to the service. Your referral will also receive a $10 discount on their invoice.
- Hefty Fee: Billshark charges a 40% commission on any savings the company is able to negotiate on your behalf.
- Upfront Fees: Billshark negotiates savings on your annual bills, but all fees will need to be paid upfront. There is the option to spread the cost of your Billshark invoice, but this will incur a fee.
- Need to Upload Bills: Unlike some other platforms, Billshark requires that you upload copies of your bills rather than linking to your bank accounts and cards.
Is Billshark Worth it?
Billshark is certainly worth a try. If the company is not able to make any savings on your behalf, you won’t need to pay a cent.
You can also be very clear about what you would like Billshark to negotiate. This company allows you to specify which bills you would like to lower and whether you want to enter into contracts longer than one year.
If Billshark is able to negotiate a large saving on your bills, you can spread the commission cost across two to six months, for a $9 fee.
Billshark has a solid industry reputation with BBB accreditation and an A+ rating. The company employs protocols and procedures to protect your personal information and it is never shared with third parties.
Billshark vs Truebill
Truebill has a very similar business model to Billshark. If Truebill can find savings, you’ll pay a 40% commission. Where it differs is that you can not only take pictures of your bills and upload them, but also connect your billing accounts.
This will help Truebill to scan your expenses and locate any promotional rates, hidden discounts or other savings. Like Billshark, Truebill will not remove or downgrade any services without your permission
There is also the option to upgrade to a premium Truebill account. This costs up to $48 per year. It offers additional functionality and features such as smart savings, unlimited budgets, cancelation concierge and premium chat.
Billshark vs. BillSmart
BillSmart is another option to save money on your phone/cable bills. Where it differs from Billshark is that BillSmart can help customers who are past due on their bills save money and keep their service connected.
BillSmart has a much lower fee than BillShark at 25% of the savings and they allow you to move or split the fee for no extra charge.
Billshark vs. Billfixers
Billfixers allows you to upload copies of your bills to find loyalty discounts, optimized credits, promotional rates and other savings. The company aims to complete bill negotiations within just one billing cycle.
The biggest difference when comparing Billshark vs Billfixers is that Billfixers has a higher fee. The commission is 50%. You need to pay this upfront via PayPal, check or major credit card. There is also the option to split the commission cost and pay monthly.
What is Billshark?
How does Billshark make money?
Billshark charges commission for any savings they are able to negotiate.
How much does Billshark cost?
Billshark charges a 40% commission on savings, but if the team cannot negotiate any savings, there is no fee.
How do I cancel Billshark account?
You can cancel at any time by sending your request in writing to Billshark HQ.