• Credit checks not required
  • Cash advances that are interest-free
  • Integral money-management tools


  • Maximum cash-advance limit
  • Membership is required for cash advances
  • Transfers can take up to a few days
  • Transparency about term

The essential information you need about a Cleo cash loan

Cleo, a U.K.-founded financial app, is available for Android and Apple devices. It offers cash advances to eligible members without interest, additional fees, or credit checks. Although this app seems to be useful for money management and budgeting, it is difficult to find detailed information on Cleo’s site about the app’s fees and benefits.

Although the Cleo website is vibrant and fashionable, there are no FAQs or terms. This is especially true when compared with traditional banks and established online lenders.

Here are some important points to remember if you’re thinking of using the Cleo app.

Membership is required to receive cash advances

Cleo is not able to provide cash advances unless you are eligible and have already paid Cleo Plus or Cleo Builder.

Cleo Plus is the cheapest of both, costing $5.99 per month or $72 annually. Cleo Plus is quite expensive, especially when you consider the cash advance limit. It’s important to consider these costs before signing up. This is especially true if your income is low or you aren’t certain if you will need cash.

Small cash advances

Cleo’s cash advances are a great way to get money until you have a paycheck. However, you can’t borrow more than $100 at one time. If you are new to the Cleo app, your eligibility for the $20-$70 loan limit will be waived. You may be eligible to borrow $100 after you have repaid the cash advance. This is a lower limit than other cash advance apps.

It may take a few days for funds to reach you

You may need to wait up to 4 days for your Cleo cash advance if you don’t wish to pay an additional fee. You can choose to expedite your payment if you require the funds immediately. However, this will cost you $3.99 more than your monthly membership fee. You can’t guarantee that you will be able to use your funds the same day even if you pay for expedite. It’s up to your bank when the funds can be accessed.

Money-management tools

Even if you are not a paid member, the Cleo app will help you create a budget and save. Cleo doesn’t allow you to pay your bills unless you sign up for the credit builder. However, once you link your bank account and share your income, you’ll receive reminders and updates so you can keep track of your paycheck budget and your monthly budget.

You can also use the app to save money. It uses your budget to determine a set amount that you can autosave into a feature called “CleoWallet.” However, the cash you have is not insured by the FDIC or its U.K equivalent, the Financial Compensation Services Scheme.

FDIC coverage is not available in all cases. If your goal is to save money, there are better options that will earn interest on the amount you set aside.

Different savings accounts: Which one is right for you?

An in-depth look at the Cleo loan

Here are some additional things to think about if you’re considering signing up for Cleo.

  • Credit-building options For $14.99 per month, you can signup for Cleo Builder. This gives you cash advances and allows you to apply for the Cleo credit builder card — a secured credit line that helps you build credit. You can also track your Equifax credit score with this subscription.
  • Student Discount Students can get the Cleo Builder Membership for $9.99 per month. This is a 33% savings.
  • There is no guarantee that you will be approved. The first time you apply to Cleo for a cash advance, it may not be approved. You might need to wait several days before applying again.
  • No proof of employment is required. You don’t have to show your W-2 tax forms or paystubs to receive a cash advance.

For whom is a Cleo loan useful?

A Cleo cash advance might be worth looking into if you need a little cash to cover your expenses until your next pay check. This is especially true for freelancers and gig workers, as you don’t need to prove your employment. Cleo is an app that can help you avoid a costly payday loan.

You can compare other cash advance apps if you prefer to not pay fees. You can also use our budget calculator if you are looking for budgeting tools.

You may want to explore financing options like personal loans, no credit checks loans, or a payday loan from a federal credit cooperative if you have more cash than Cleo and other cash advance apps can provide. You may also consider interest-free credit cards depending on your financial needs.

How do you apply with Cleo

You will need to first download the Cleo app on your Android or Apple device. Then, sign up for a Cleo paid membership. Next, open the chat section, and then type “salary advance” in the box. Cleo will notify you if your application has been approved.

Cleo will offer you a cash advance of $20 to $100 if you are approved. You can choose between a 3 or 28-day repayment term.

Cleo does not run credit checks, so you don’t have to meet any credit criteria. You don’t need to submit any W-2s or paystubs as it will not confirm your employment.

Are you unsure if Cleo is the right fit for you? These are some alternatives.

  • Earnin If you need to borrow more money, Earnin might be the right fit. Earnin can offer cash advances up $500 but you will need to allow Earnin access your work timesheets.
  • Dave Dave offers cash advances up to $500 and early paydays with a $1 monthly membership. You can also get cash advances of up to $500 with a Dave debit card.