Meet Cleo review

Meet Cleo, the AI friend you can text about your finances

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Cleo
Cleo offers intelligent insights into your spending patterns, trends and budgets all via text message or Facebook Messenger.

The rest of this guide will explain everything you need to know about Cleo, to help you decide whether it’s for you.

What is Cleo?

Since its launch in 2016 Cleo has grown exponentially, currently helping 90,000+ users have a clearer and more positive relationship with their budgeting. Cleo uses artificial intelligence to analyse transaction transaction data on your bank account. It’s creators strongly believe in the power of new technologies to help us manage finances better.

Cleo

Meet Cleo: The AI that looks after your money.

  • Intelligent insights
  • Spectacular visuals
  • Save simply
  • Certified bank-level security
  • Dedicated customer support
Promoted

How does Cleo work?

By providing Cleo with your online banking login it is able to securely analyse your transaction data. Cleo will then use this information to provide users with a clear insight to their spending habits. Once you are connected you can contact Cleo via text or Facebook Messenger.

  • Set and keep track of daily, weekly or monthly budgets.
  • Check your direct debits.
  • View your balance.
  • Check latest transactions
  • View your spending habits split up into categories.

Cleo is free to use, quick to set up and makes it easy to keep an eye on your spending.

Is Cleo safe?

Cleo gain read only access to your account, meaning they can only view encrypted transactions. They use bank-level 256-bit encryption and security services. No one can every move money in or out of your account.

Your data will never be stored on Cleo’s servers.

Cleo are in fact so confident in your safety that they pledge to cover you up to £85,000, equivalent to the FSCS deposit and savings guarantee.

Pros and Cons

Pros

  • Easy to use, sign up in less than 2 minutes and contact Cleo from your mobile phone.
  • Intelligent insights into your budget and spending.
  • Bank-level security with the £85,000 pledge.
  • Great for those who aren’t particularly engaged with their money.

Cons

  • Cleo may not be useful for people who are already in the habit of saving
  • Some may not be comfortable giving cleo access to their online banking.

Compare Cleo against its competitors

Updated September 21st, 2019
Name Product Fees and charges Delivery speed
Free
Between 3-5 working days
Everything you get from a current account, but with new features for mobile living. (E.g. Goals for saving, spending catgorisation, interest on your balances)
Free with finder.com, otherwise card delivery is £4.99
Up to 9 working days
App-based current account with loads of extra features. (e.g. Real time transactions, payment categorisation, save spare change, free international money transfers, buy cryptocurrency)
N26
Free
5-7 working days
App-based bank account that can be used on the go in any EU country. All about the ease of sending and saving money.
None
Between 3-5 business days
A multi-currency mobile banking app that aims to be ‘built around you’. Use it to open a fully functional current account instantly, straight from your phone, all supported by a feature-rich mobile app

Compare up to 4 providers

Frequently asked questions

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Starling
Starling

What is it?

Everything you get from a current account, but with new features for mobile living. (E.g. Goals for saving, spending catgorisation, interest on your balances)
N26
N26

What is it?

App-based bank account that can be used on the go in any EU country. All about the ease of sending and saving money.
Revolut (Standard)
Revolut (Standard)

What is it?

App-based current account with loads of extra features. (e.g. Real time transactions, payment categorisation, save spare change, free international money transfers, buy cryptocurrency)
Monese (Starter)
Monese (Starter)

What is it?

A multi-currency mobile banking app that aims to be ‘built around you’. Use it to open a fully functional current account instantly, straight from your phone, all supported by a feature-rich mobile app
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4 Responses

  1. Default Gravatar
    JackieNovember 7, 2018

    When will more banks be provided to use this service?

    • Avatarfinder Customer Care
      JoshuaNovember 20, 2018Staff

      Hi Jackie,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      You can connect any bank account to Cleo simply by providing your login credentials. If in case your bank won’t connect with Cleo, you might want to directly get in touch with Cleo to troubleshoot the problem.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  2. Default Gravatar
    TreeceOctober 9, 2018

    Does Cleo sell my information?

    • Avatarfinder Customer Care
      joelmarceloOctober 10, 2018Staff

      Hi Treece,

      Thanks for leaving a question on finder.

      As per the terms and conditions of Cleo, they will never sell your data.

      Please send me a message if you need anything else. :)

      Cheers,
      Joel

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