Claro Money review: A subscription-based financial coaching app

Looking to improve your knowledge about money matters? Find out how the Claro Money app may be able to help.

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Claro Money update

Claro Money announced in July 2022 that it will be closing down. In an email sent to customers it said that it was changing from a company offering financial education to businesses rather than consumers.

If you are looking for another budgeting app then visit our best budgeting apps guide.

Claro Money is the UK’s first financial coaching app to help you make smarter decisions about money. We explain how it works.

What is Claro Money?

Claro Money is a subscription-based financial coaching app that aims to help you save, invest and achieve your financial goals. The first of its kind in the UK, the app can help you to track your spending, build a financial plan and give you access to savings and investment products.

How does Claro Money work?

The Claro Money app gives you access to one-on-one financial coaching sessions with a fully qualified financial coach. These sessions, which take place on Zoom, are designed to help you build healthy financial habits and let you discuss topics related to budgeting, savings, investing, pensions, mortgages and insurance.

Additionally, Claro allows you to connect all of your banking accounts in one place so that you can see exactly where your money is being spent, helping you to budget better and learn where you can cut back.

The app also enables you to start investing from as little as £10 with access to your money when you need it. If you’re interested, you’ll be asked to take a risk quiz to establish the risk level that’s right for you.

Who is it for?

Claro is designed for anyone looking to make smarter financial decisions or achieve a financial goal, whether that’s to build up a savings pot or feel more in control of their spending.

How to sign up

Claro Money is due to launch in 2021 so you’ll need to join the wait list to be among the first to get access to the app. Simply enter your email address on the Claro Money homepage or click the “Get early access” button.

Is it safe to use?

Claro Money is regulated and authorised by the Financial Conduct Authority (FCA). It is also authorised under the Electronic Money Regulations 2011. This means funds received from customers must be safeguarded in the event the company becomes insolvent.

Note that Claro provides financial coaching, not financial advice. This means it cannot recommend specific financial products, such as investment funds or savings accounts. If you’re investing, remember that investments can go up or down in value and you may get back less than you put in.

Pros and cons


  • Access to one-on-one financial coaching
  • Track your spending and learn to budget
  • Access to savings and investment products


  • Only first year is free to early users
  • Platform fee of 0.45% per year applies to investments over £2,500

Our verdict

When it comes to helping you better manage your finances, Claro Money is a bit of an all-rounder. As well as offering users one-on-one financial coaching from the comfort of their own home, users can also track their spending, learn to budget and benefit from savings and investment products. What’s more, providing you sign up for early access, you’ll be able to use the app free of charge for the first year.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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