Claude’s new Personal Finance tool aims to help analyze your spending – read-only, of course

Claude, an AI chatbot, has introduced a new Personal Finance tool to help users analyze their spending, but only through a read-only link to their bank and credit card accounts. This feature, similar to ChatGPT Finances, allows users to link as many accounts as they wish through Plaid, with the chatbot only seeing the necessary details such as the bank's name, account type, and last four digits of the balance and credit limit.

It also has two years of transaction history. Users can ask Claude about their spending habits, previous trends, and future goals. The tool provides visualizations like tables and charts and generates data in plain English. The feature is currently available to Pro, Max, and Ultra subscribers in the US. Claude's developers have addressed privacy concerns, emphasizing that conversations about financial data are not used to train the model and that conversations outside the "hub" are subject to individual Claude privacy settings.

The tool aims to offer an ad-free experience, with no credit cards, loans, or savings accounts offered by Claude itself. While some users find Claude's finance feature accurate and helpful, it is not intended to replace professional financial advice.