Launching the 🇺🇸 Wallet and Automatic Savings
A couple of weeks ago, we invited some of our community members to try the Cleo wallet and automatic savings in the US.
After some great feedback and resulting product tweaks, we’re excited to launch the wallet to all US users as of today 🙌
What is a Cleo wallet?
Think of your Cleo wallet as an account you can move money into, or out of, at any time, just by asking Cleo. Once you’ve created your wallet and linked it to an existing account, simply tell Cleo to “transfer $5 to my wallet” and she’ll do the rest.
But there’s much more than manual transfers. Once set up with a wallet, you’ll be able to save automatically with Cleo, plus win cash by playing our weekly spending game. In the near future, you’ll be able send money to friends, and get rewards when you refer friends.
Automatic Saving
After setting up a wallet, Cleo will ask if you want to turn on automatic saving. Once you do, each week Cleo will analyse your spending and suggest an amount that she thinks you can afford to save.
Cleo will never suggest saving more than you can afford, so if you’re close to your overdraft, for example, she’ll check in again next week.
You always have the final say before confirming each saving amount. So if you want to skip a week, you can do easily without needing to turn the feature off completely.
The Bigger Picture
Thousands of our users in the UK are saving automatically each week, and tell us it’s one of the main reasons they use Cleo. Launching the Cleo wallet is a big step towards bringing our US product out of Alpha — we’re looking forward to giving you plenty more updates in the coming weeks.
