Anthropic launches Personal Finance in Claude to help track spendings without opening bank accounts, but there is a catch

Anthropic has introduced Personal Finance in Claude, a new feature designed to help users understand and manage their finances by connecting their bank and card accounts. Instead of opening multiple banking apps to check balances or calculate expenses, users can simply ask Claude questions in everyday language. The AI chatbot can analyse spending, track upcoming payments and identify unusual transactions. Anthropic claims the feature uses read-only access, which means Claude cannot move money or make payments. Personal Finance is rolling out in beta this week for Pro, Max and Ultra subscribers in the US.

Personal Finance in Claude: How it works

With Personal Finance, users can connect their bank and card accounts to Claude and ask questions about their money. The chatbot can check account balances, review transactions and organise spending into different categories. For example, users can ask, "Where did my money go this month?" Claude will then calculate their expenses and show how much they spent on rent, food, shopping and other categories.

Users can also compare their spending with previous months. The feature can identify unusual charges, duplicate payments, unexpected fees and bills that have gradually increased over time.

Claude can also help users understand financial terms. For instance, users can ask questions about APR and find out how much interest they have paid during the year. They can also ask how much money will remain in their account after upcoming bills are paid.

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Users can also ask to create spending charts, payment calendars and personalised financial dashboards. Users can adjust these according to their needs.

Bank accounts will be connected through Plaid, a service that links financial apps with banks. Users must sign in to their bank accounts themselves and approve read-only access. Claude does not receive their banking passwords.

The company says conversations within the Personal Finance hub will not be used to train its AI models. Users can also disconnect their accounts whenever they want.

Personal Finance in Claude: How to use it

To get started, open Claude and look for Personal Finance in the sidebar. Now, tap the feature and connect your bank or card accounts through Plaid. Once the accounts are connected, users can start asking questions about their finances. 

Anthropic warned that Claude can make mistakes. Users should check important financial figures with their banks. The company also clarified that Personal Finance is not designed to provide investment advice or manage users' money.