
Overdraft Fees: What Should You Know
Everything you ever wanted to knowđ
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The best budgeting app to help you avoid overdraft feesđĄ
If youâre looking for something that might help you dodge the crushing pain of overdraft fees, look no further đȘ
Welcome to đ The Cleo Plus subscription đ
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Cleo Plus is a subscription which gives you access to more financially useful features which in time, should help you build your credit history.
With the Cleo Plus cash advance feature, if you ever need a quick spot you can get up to $250* (eligibility requirements apply).
And that's not even the best news...
The cash advance is interest free and there are no credit checks. And unlike payday loans and overdraft fees, it wonât affect your credit score đ
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With Cleoâs free subscription you can:
With Cleo Plus youâll get the above features AND:
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If youâre sitting there thinking âwhy should I choose Cleo?â (So youâre thinking about other budgeting apps? Itâs fine. Really. Itâs FINE đ) â have a scroll through our blog post on the top 5 budget apps for 2022 to see how Cleo compares to other cash advance apps đ
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Statistically speaking, if you overdraft once, itâll probably happen two more times that month, and at most banks, thatâs usually around $100 in fees which you could be avoiding.
Multiply that by 12 months, and thatâs $1,200 your bank is cashing in on.
The Plus subscription costs $5.99 a month, which is $71.88 over the course of 12 months.
This means those of you who overdraft regularly could possibly save up to $1,128.12 per year by using Plus đĄ
âIn fact, banks now charge an average of $35 in overdraft fees â a new record high đ€Ż, and with the way things are going, fees wonât be going down any time soon.
Check out Cleoâs overdraft fee checker tool to find out how much youâd be charged if you overdraft.
Cleoâs cash advance feature is one way to avoid extortionate overdraft fees, and the super scary world of payday loans.
Youâre in control of choosing the repayment date, and it can be anywhere between 3 and 28 days. And then as if by magic, Cleo will take the payment automatically.
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Keep scrolling if this sounds like something your money needsâŠ
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So, hereâs a full run-down of whatâs actually included.
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When youâre low on funds and have a bill you need to pay, or just need to stay out of your overdraft, a cash advance can help you keep going until payday, so you can avoid getting charged an eye-watering average of $35 in bank fees.
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The funds should reach your account within 4 days, however, if you need it within 24 hours, you can pay an express fee of $3.99.
And if you need help with requesting one, here's how to get a cash advance.
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With the Plus subscription youâll be able to regularly check your credit score, and youâll get your full report directly in the app.
In your report, sheâll give you clear information explaining your score, and the steps youâll need to take so you can manage your money in a way that can help improve your score.
Sheâs that clever, sheâll even pick up any spending habits which are bringing you and your credit score down đ
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P.S. Cleo works with Equifax to track your credit score âïž
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And if you ever feel like Plus isnât for you, itâs super easy to cancel (but weâll be sad to see you go). Youâll just need to type âcancelâ into the chat. But if you have a cash advance to repay, youâll just need to pay that off first đ
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Super safe.
After youâve connected your bank account, Cleo is only able to access your transaction history and data through an encrypted read-only mode.
AndâŠ
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â Cleo never stores or accesses your banking login details
â She uses world-class security practices
â She holds regular security audits and tests
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Cleo doesnât sell your data, so all of your information is secure with us đ
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And hereâs what some actual humans (who donât work at Cleo) think of the appâŠ
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đ âI love this app. They loan you money when you need it. They also help you keep your finances in check on top of that itâs a very entertaining app. 2 thumbs up.â â Brian O. Trustpilot review*
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đ âAwesome app to help see where your money goes!! My favourite feature is the savings option, where thereâs tons of options to save. Like rounding up, âchargingâ yourself if you go somewhere often (mine is a charge of $5 everytime I go 7-11) etc.
And they even have the new credit card which I just got. Amazing app, easy to use, no annoying notifications, just simple money saving!â â Justine T. Google Play review*
*Testimonial Disclaimer: Review provided by customer to Cleo AI Ltd. d/b/a Cleo. The comment above is related to individual experiences or results. Individual results may vary.
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Yeah, we think so.
And with approximately 4 million users and this many positive reviews, we like to think our users do too.
If youâre someone who regularly goes into your overdraft, youâre more than likely going to benefit from the Cleo Plus subscription.
Youâll also be able to stay on top of your score by receiving regular updates, which in time, should help you get better rates for stuff like personal loans and mortgages đ
âIf youâre currently being charged an extortionate amount in overdraft fees, you should check our blog on what to do if you overdraft for helpful tips.
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Enjoy this post? Give it a share or send it along to a friend. You never know, it could make a big difference.
Big love. Cleo đ
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*The Cleo Plus subscription offers saving goals, hacks, challenges, APY on savings, credit score insights, and access to cash advances if eligible.
Everything you ever wanted to knowđ
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