Is rocket money safe?

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Is rocket money safe

Is rocket money safe – Are you looking for a thorough review of Rocket Money? You’ve arrived at the proper location. We will go over all you need to know about this smartphone app in this article, including whether is rocket money safe and legitimate and how much it costs. Additionally, we’ll be frank about whether Rocket Money is worthwhile for your time. Continue reading to learn more!

Describe Rocket Money.

A software called Rocket Money, formerly known as Truebill, assists users in setting up budgets and managing their money. The Mokhtarzada brothers launched it in 2015 under the name Truebill. Yahya, Haroon, and Idris Mokhtarzada. The software was designed to work bills and cancel subscriptions, but it has now become a complete financial empowerment tool.

Users may link their accounts to track spending, create budgets and savings objectives, revoke undesired subscriptions, bargain with bill collectors, and obtain personalised investment advice.

After being purchased by the Rocket Companies in 2022, Truebill changed its name to the one it has today. To empower people to take charge of their finances, the Mokhtarzada brothers still serve as the company’s leaders.

The Function of Rocket Money-

It is simpler to understand how Rocket Money functions if the service is broken down into its parts, which are as follows:

Subscription Control

Users may track and manage their subscriptions with the Rocket Money app. The software alerts users to recurring charges and lets them check whether the cost of a subscription has changed over time.

Rocket Money’s membership cancelling option is one of its most well-liked features. Users can quickly cancel any active subscriptions by visiting one location where they can see them all together.

Using the Rocket Money app, you may cancel certain popular subscriptions like:

  • Amazon 
  • Dash Pass
  •  Grubhub Plus
  •  Zipcar

In addition to saving consumers money on unneeded spending, this clears up clutter and keeps track of recurrent payments, simplifying their financial lives.

Rocket Money also offers advice on how to cut costs and save money on subscriptions. By using this option, users may be able to reduce their monthly spending.

Rocket Money simplifies managing subscriptions and assists consumers in long-term financial savings.

Bill bargaining-

Rocket Money provides services for managing subscriptions as well as negotiating bills. The programme analyses a user’s bills using artificial intelligence to uncover areas for potential savings, such as negotiating lower prices for cable or internet services.

Users must first upload a copy of their most recent bill from one of their service providers or log in to their online account to use the bill negotiating tool. They then divulge details regarding the services they are currently utilising.

Then, Rocket Money employs its bargaining strategies to lower the user’s current rate, frequently enrolling them in a promotional plan, eliminating pointless fees, or negotiating a cheaper rate. Customers of Rocket Money often save roughly 20% on their current telecom plans.

Rocket Money charges a percentage of the savings once a successful negotiation has been completed as their service fee. The proportion ranges from about 25 to 35 per cent depending on the type of bill and the amount saved. Rocket Money not only bargains for cheaper expenses but also provides other financial services like credit card optimisation and loan and mortgage refinancing choices.

Credit Tracking of the score-

Using the app, you can quickly track and understand your credit score. You may check your credit report and history with only a few clicks. Additionally, the app notifies you of any updates or changes that might impact your score, enabling you to stay on top of any potential problems.

The app also provides information and guidance on how to raise your credit score. This can include assisting you in resolving any inaccuracies on your report or offering advice on using credit responsibly.

Through frequent credit monitoring and improvement with Rocket Money, you can save money over time by taking advantage of better interest rates and financing alternatives.

Financial Account-

Additionally, users may define financial objectives and budgets within the app and obtain personalised investing advice depending on their risk appetite.

To accomplish your savings objectives more quickly and prevent overdraft fees, the software analyses your accounts to determine the ideal time to save.

In general, Rocket Money wants to make it simpler and more effective for people to manage their finances.

How safe is Rocket Money? Is rocket money safe at all? 

Rocket money is safe; the answer is a hearty yes. To start with, Rocket Money is dedicated to security and uses cutting-edge security technologies to safeguard all user data and transactions. All sensitive information is encrypted, and multi-factor authentication procedures are used to secure account access.

Yes, Rocket Money uses 256-bit bank-grade encryption to safeguard your data. This means a very difficult-to-crack code would be needed to access your information. Additionally, Rocket Money uses the Plaid service to communicate with financial institutions, so the app will never ask you for your banking information directly.

Rocket Money states that they do not sell your data to outside parties and take steps to protect your personal information. Your information won’t be shared or utilised commercially without your knowledge or consent.

  • All financial operations are carried out in line with laws and regulations thanks to the company’s high regulatory compliance standards.
  • Additionally, Rocket Money has a dedicated team of professionals who constantly monitor and enhance the platform’s security safeguards. These professionals put in a lot of effort to fend off potential dangers and respond to any problems as soon as they appear.

But is Rocket Money safe? In conclusion, the Rocket Money app is secure to use due to the application of cutting-edge encryption techniques, connectivity through reliable third-party service, and dedication to protecting user data.

Users may rest easy knowing the app is secure for their money and personal data.

The business uses cutting-edge security methods to guarantee users’ financial and personal information privacy and security.

Overall, there is no indication or proof that Rocket Money is a genuine business. As a result, those thinking about employing their services can do so confidently, knowing they are in capable hands.

Enhanced Version

The monthly fee for the premium version membership is variable and ranges from $3 to $12.

The following features of Rocket Money Premium are not present in the free version:

  • Syncing your account
  • Custom Categories, Concierge, and Premium Chat Cancellations
  • Unrestricted funds
  • smarter financial planning

This membership automatically renews and can be cancelled at any time.

Aside from the optional premium membership, there can be additional charges for certain app features like money transfers or using a virtual debit card to make purchases. However, these costs will differ based on the service being used.

Review of Rocket Money: Pros and Cons of the App

Below you’ll discover several insightful comments made by users on both the Google Play Store and the Apple App Store.

Pro: The user interface is self-explanatory and straightforward to use. I particularly appreciate the budgeting function because it helps me control my expenditures.

Con: My bank accounts need to connect correctly, and customer service has not replied to me immediately. Additionally, there is a pretty hefty fee for moving money to my outside bank account. Overall, though, this software has helped me manage my finances.

Pro: This software is quite helpful in tracking my spending and financial objectives. My funds can grow thanks to the automatic savings feature without me needing to make frequent manual transfers.

Con: There have been a few issues connecting my bank accounts, and customer service needs to be more active to reply. In comparison to other apps of a similar nature, the alternatives for investing money are also limited. Overall, I’m pleased with this programme and would advise people searching for a simple way to manage their finances to download it.

We hope you’ve got your answer to Rocket Money safe. 

FREQUENTLY ASKED QUESTIONS – 

Rocket Money: Is It Real? Is rocket money safe? 

Rocket Money is a legitimate business based on the details given in the statement above.

For more information, please note that Rocket Money has registered with the relevant government bodies and has all the necessary licences and permits to operate its company. Additionally, the business enjoys a solid reputation in the financial sector thanks to many favourable reviews and endorsements from pleased clients.

What is the price of Rocket Money?

So, Rocket Money is cost-free.

Although most of the functions in the Rocket Money app are optional premium features, they are not free.

How Does Rocket Money Handle Bill Negotiations?

Rocket Money discovers potential cost-saving opportunities while negotiating bills—their outstanding team contacts service suppliers to negotiate lower prices or look for alternatives that provide better offers.

How is money made at Rocket Money?

Rocket Money’s premium membership is one source of revenue. Users can pay a monthly charge to access extra features and services, like bill negotiation.

The savings charge is another source of income for the business. When consumers use the app to save money, the company keeps a portion of those savings as payment.