Cleo is a US app that offers free personal financial management tools and cash advances of up to $70 at first, then up to $250 once borrowers establish a solid payment history. Customers must pay a monthly subscription fee of up to $5.99 to request loans via Cleo’s app.
There’s an extra fee starting at $3.99 for same-day funding. Otherwise, it takes three to four days to receive money. To access credit builder tools, Cleo charges an additional subscription of up to $14.99 per month, which is higher than similar apps.
Can you get a Cleo loan in Canada? Unfortunately, no. Instead, compare these payday loans and cash advance apps like Cleo.
Like Cleo, Nyble offers small interest-free cash advances with no credit check required. Apply online for up to $250, and get funds in 1-3 business days with a free account. Access extra perks like express funding in 1-30 minutes, a free Equifax credit report and identity theft protection for $11.99 per month.
Easy application process
No credit check
No interest
Can improve your credit score
Roll over your loan
Loan amount may not be enough for your needs
$11.99 for fast transfers and other premium perks
Costs
0%
Loan Amount
$30 – $250
Loan Term
31 days, extendable
Credit Check
No
Turnaround Time
1-30 minutes with a paid membership or 1-3 business days with a free membership.
Requirements
You must be 18 years or older and have a minimum monthly income of $1,000.
Toronto-based fintech company KOHO offers interest-free cash advances ranging from $20 to $250 with a subscription fee starting at $2/month. Repayments are flexible—you can pay back funds any time.
No late fees
Zero interest
No impact to credit score
No income required to qualify
Repay any time
$2/month subscription fee
Won't improve your credit score
Costs
0% + monthly fee from $2
Loan Amount
$20 – $250
Loan Term
Flexible
Credit Check
No
Turnaround Time
Immediately
Requirements
KOHO account—access higher loan amounts over time by using KOHO for everyday spending, repaying your monthly fees and using its other services
Cover expenses until your next payday with a Bree cash advance of up to $500. There's no interest charged on your loan, and you'll receive an instant decision after applying. Express funding is available for a small monthly subscription fee plus an additional fee.
Easy application
Instant decision
No credit check
0% interest and no late fees
$2.99 optional monthly membership fee for express funding
Loan amount may not be enough for your needs
May not improve your credit
Costs
0%
Loan Amount
$20 – $500
Loan Term
Next pay cycle (90 days max)
Credit Check
No
Turnaround Time
Receive funds within 5 minutes with express delivery (the fee is based on the advance amount) and within 1 to 3 business days for standard delivery.
Requirements
You must have a bank account with regular income deposits and a Visa or Mastercard debit card with a CVV
High-cost payday loans are unsustainable for long-term borrowing, with up to $14 charged per $100 borrowed. If you're experiencing financial hardship, consider calling Credit Counselling Canada for free financial counselling (Monday-Friday 8:00am-5:00pm at +1 866-398-5999). You may also want to consider payday loan alternatives.
iCash offers 24/7 online payday loans with a fast, fully-automated application process. You can apply, get approved and get funded in hours. Customer support is available 24/7 if you need it, and you can conveniently manage your loan via mobile app.
Fast online application and instant decisions
Good and bad credit accepted
24/7 customer service
Fast funding via Interac e-Transfer
High cost
Not available in every province and territory
Loan Amount
Undisclosed
APR Range
Undisclosed
Loan Term
7 - 62 days
Turnaround Time
As little as 2 minutes with Interac e-Transfer
Min. Credit Score
300
Requirements
- At least 18 years old (for applicants in Alberta, Manitoba, Ontario and PEI) - At least 19 years old (for applicants in British Columbia, New Brunswick and Nova Scotia) - Canadian resident in a province that iCASH services - Valid cell phone number, address and email address - Net income of at least $800/month deposited into bank account - Receiving the same source of income for the past 3 months - Have a Canadian bank account that's been open for at least 3 months with online banking
Australia-based Wagepay started offering payday loans in Canada in 2023. You can borrow up to $1,500 with no credit check or late fees. Wagepay's interest rates are lower than most payday lenders, and you can get funded 24/7 by Interac e-Transfer.
Fast application and funding
No credit check
Cheaper than most payday loans
Apply online or via mobile app
One payment postponement and one split payment per advance
High cost
Only available in BC and Ontario
Loan Amount
Undisclosed
APR Range
Undisclosed
Loan Term
Up to 62 days
Turnaround Time
As little as 2 minutes with Interac e-Transfer
Min. Credit Score
300
Requirements
- Be at least 18 years old in Ontario or 19 in BC - You must live and work in Canada - You must be employed and receive a regular, consistent income from your employer of at least $400/week ($1,600/month) - You must leave enough of your income each pay cycle in your account to be able to repay an advance - You must have a generally good banking history
How does Cleo compare?
Cleo charges a $5.99 monthly membership fee for access to cash advance services. In addition, it offers budgeting tools, spending insights and notifications about upcoming bills and expenses. But other cash advance apps in Canada may offer higher amounts or lower fees than Cleo.
Compared to predatory payday loans—which charge extremely high interest rates and fees—Cleo is likely cheaper since it doesn’t charge any interest. The app gets high praise for its useful (occasionally entertaining) AI interactions and convenient design, but some users complain about system glitches and problems receiving funds.
Pros
No credit check required
No interest on cash advances
Tools to help you save money and build credit
Cons
$5.99 monthly membership fee
$3.99 express transfer fee
Three to four business days for regular transfers
Alternatives to cash advance apps
Cash advances aren’t for everyone. You typically only get the money until your next payday, and most apps only offer small amounts of money—some as low as $20—until you’ve used the app long enough to borrow more.
If those terms won’t help enough when you need emergency funds, consider the following alternatives:
Credit card cash advance. Most credit cards let you withdraw cash when you need it. You’ll probably be allowed to withdraw more than you can get through a cash advance app, though you’ll have to pay a transaction fee and possibly a special interest rate. But not all credit cards treat advances the same. If you think you’ll use this feature more than once, you may want to consider a card like the Scotiabank Value Visa Card, which offers a lower-than-average cash advance rate.
Vehicle title loan. If you own a fully paid off vehicle, you could use it as collateral to secure a loan. Typically, you can borrow as much as 50% of your car’s value. It’s possible to get approved even with bad credit, and you can still drive your car. But be aware that if you fail to repay the loan, the lender can repossess your vehicle.
Credit counseling. If you find yourself in a cycle of borrowing money to keep your bills paid, you may consider credit counseling. A counselor can help establish a budget to make sure your bills are paid and your spending is in line with your income.
Stacie Hurst is an editor at Finder, specializing in loans, banking, investing and money transfers. She has a Bachelor of Arts in Psychology and Writing, and she has completed FP Canada Institute's Financial Management Course. Before working in the publishing industry, Stacie completed one year of law school in the United States. When not working, she can usually be found watching K-dramas or playing games with her friends and family.
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Heather Petty was a personal finance writer at Finder, specializing in home and personal loans. After falling victim to a disreputable mortgage broker when buying her first home, she’s on a mission to help readers avoid similar experiences when managing their own finances. A self-proclaimed word nerd, her writing and analysis has been featured on MSN, Credit.com and MediaFeed, among other top media. Heather previously worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. She earned a BA in English with a minor in journalism from the University of Nevada, Reno.
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Cash advance service Bree allows you to borrow up to $500 with no interest and no late fees.
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