Cleo promotes its cash advances as “no interest, no hidden fees.” But in practice, the app monetizes the product through Express delivery fees for same-day transfers and subscription charges for Cleo Plus or Cleo Builder — which many users pay in the same months they take an advance.

For small, short-term advances, those costs can act like a high effective price of credit, contradicting the “no-fee” promise. Our investigation alleges false advertising and unfair business practices, and we’re seeking refunds of all such fees, plus reimbursement for any overdraft or NSF charges linked to Cleo’s withdrawals.