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 $150, 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 per month for fast transfers and other premium perks
Loan amount
$30 – $150
APR
Starting at 0%
Term
30 days, extendable
Fees
0% interest and no fees to access credit, optional $11.99/month membership for premium services like instant funding
Turnaround time
1-30 minutes with a paid membership or 1-3 business days with a free membership.
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.
Cover expenses until your next payday with a Bree cash advance of up to $350. 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 monthly membership fee
Loan amount may not be enough for your needs
Extra fee for fast transfers
May not improve your credit
Loan amount
$20 – $350
APR
Starting at 0%
Term
Next pay cycle (61 days max.)
Fees
0% interest for cash advances but a $2.99 monthly membership fee applies, fee for express funding (varies based on advance)
Turnaround time
Receive funds within 5 minutes with express delivery (the fee is based on the advance amount) and up to 3 business days for standard delivery.
High-cost payday loans are unsustainable for borrowing over a continued period of time and are expensive as a means of longer-term borrowing. View payday costs and regulations by province here. If you're experiencing financial hardship call 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.
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
N/A
APR
N/A
Term
Up to 62 days
Turnaround time
As little as 2 minutes with Interac e-Transfer
Maximum borrowing costs of payday loans per province
Always refer to your contract for exact repayment amounts and costs.
Province
Max. cost of borrowing a $100 payday loan
Cooling off period to cancel loan
Max. penalty for returned cheque or pre-authorized debit
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 a wide range of topics including loans, banking products, investing and money transfers. She has a Bachelor of Arts in Psychology and Writing, and she completed one year of law school in the United States before deciding to pursue a career in the publishing industry. When not working, Stacie can usually be found watching K-dramas or playing games with her friends and family. See full bio
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. See full bio
Heather's expertise
Heather has written 2 Finder guides across topics including:
Borrowing $100 can be a quick and easy process. This guide covers how you can get a small loan in Canada, including benefits, drawbacks and eligibility requirements.
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