Cleo Review - Features, Pricing & Deals

Cleo operates in two distinct areas: as a personal finance AI assistant and as a business integration platform. The personal finance app uses artificial intelligence to help users manage their money through a conversational interface, offering features like spend tracking, savings automation, and credit building tools.

The app connects to your bank accounts to monitor spending patterns and provides feedback through a chat interface. Users can set budgets, create savings goals, and access cash advances when needed. While the basic version is free, paid plans include additional perks such as higher cash advance limits and credit monitoring services.

On the business side, Cleo Integration Cloud helps companies streamline their supply chain operations. The platform automates EDI (Electronic Data Interchange) and API integrations, making it easier for businesses to connect with trading partners and manage transactions. It includes features for partner onboarding, error monitoring, and business process automation.

Both solutions aim to simplify complex processes, whether it's personal budgeting or business integration, through automation and clear user interfaces. The platform's approach to integration helps reduce manual work and provides real-time visibility into operations.

• AI-Powered Budgeting Interface: Connects to bank accounts to track spending, categorize expenses, and provide personalized financial insights through an intelligent chat-based platform.
• Smart Savings Tools: Offers automated savings options including roundups, goal-setting features, and high-yield savings accounts to help users build financial reserves.
• Credit Building Solution: Provides a secured credit card and strategic payment scheduling to help users improve their credit scores systematically.
• Flexible Cash Advances: Enables users to access short-term loans before payday with transparent fees and no credit check requirements.
• Interactive Financial Guidance: Delivers personalized financial advice through a conversational AI that offers humor, encouragement, and actionable spending insights.
• Expense Behavior Analysis: Allows users to rate purchases and track spending patterns to develop more mindful financial behaviors.
• Flexible Membership Options: Provides tiered subscription plans ranging from free basic services to comprehensive financial management packages.

• Free version offers basic budgeting tracking, spend categorization, and limited financial insights without additional features.
• Cleo Plus subscription at $5.99 monthly or $44.99 annually provides advanced budgeting tools, savings features, and more personalized financial coaching.
• Cleo Builder subscription at $14.99 monthly helps users build credit through a secured credit card and offers additional financial management tools.
• Cleo Grow subscription at $2.99 monthly provides targeted savings and financial growth features.
• Cash advances range from $20 to $250 with express fees varying from $3.99 to $9.99 depending on the advance amount, with no interest or credit checks.

Cleo connects to your bank accounts securely through bank-level encryption. Once connected, the AI analyzes your spending patterns, income, and account balances. It categorizes your transactions automatically and gives you insights about your money habits. You can chat with Cleo through the app to ask questions about your finances, get spending breakdowns, or even get some tough love about your shopping habits. The AI learns your patterns over time to provide more personalized advice.

The free version of Cleo includes basic budgeting tools, spending tracking, and the chat interface with Cleo's AI. When you upgrade to Cleo Plus ($5.99/month), you get access to cash advances up to $100, a high-yield savings account, custom spending categories, and additional saving features. The Cleo Builder plan ($14.99/month) includes all Plus features and adds credit-building tools and higher cash advance limits up to $250. Each tier builds on the previous one with more ways to improve your financial health.

Cleo takes security seriously and uses bank-level 256-bit encryption to protect your data. The app is read-only, which means it can see your transactions but can't move money without your specific authorization. Cleo doesn't store your bank login credentials - they use trusted third-party services like Plaid to connect to your accounts. Your personal information is protected under their privacy policy, and you can disconnect your accounts at any time if you have concerns.

Cleo's cash advances let you borrow small amounts of money (typically $20-$250) until payday. There's no interest on these advances, but there are "express fees" that vary based on the amount borrowed - ranging from $3.99 for smaller advances to $9.99 for advances over $150. Eligibility depends on your spending patterns and account history. The money is sent to your Cleo Wallet and can be transferred to your bank account. Repayment happens automatically on your next payday. There are no late fees, but missing repayments may affect your eligibility for future advances.

Yes, you can build credit with Cleo through their Builder subscription plan. It works similar to a secured credit card - you deposit money into a Cleo credit builder account which sets your credit limit. Cleo reports your payment activity to all three major credit bureaus (Experian, TransUnion, and Equifax), which can help establish or improve your credit score over time. You'll need to make regular payments to build a positive payment history. Since payment history makes up about 35% of your credit score, this reporting can gradually improve your creditworthiness if you maintain consistent payments.