WeMoney vs Frollo: which free Australian money app deserves your accounts?
Both apps track your money for free with real open-banking feeds. WeMoney funds itself with ads and partner offers and focuses on debt payoff; Frollo charges nothing at all and stores CDR data in Australia. We compare what free means at each.
The short version
- Both are free Australian apps with real CDR open-banking feeds and a Yodlee fallback for banks CDR doesn't cover.
- WeMoney is the more commercial of the two: credit scores, debt tools, community, ads and partner offers, with a A$9.99/mo Pro tier.
- Frollo runs no ads or subscriptions at all and stores CDR data in Australia, with lower app-store ratings and mobile only.
Free money apps have to make money somewhere, and how they do it shapes everything about them.
WeMoney and Frollo are the two serious free options in Australian personal finance, and both hold genuine open-banking credentials. WeMoney built a business on advertising and partner offers, and Frollo built one on selling open-banking infrastructure to banks.
Disclosure before the refereeing starts: we build Kleev, a paid money app that competes with both, so weigh our take accordingly. All facts below were checked against primary sources in July 2026.
What is WeMoney?
WeMoney is a Perth-built financial wellness app, and its store listing says it plainly: "Pay off debt faster".
The free app connects effectively any Australian account, tracks spending and goals, detects subscriptions, and shows free monthly credit scores from two major bureaus. A community feed sits alongside all of it.
WeMoney claims well over a million downloads, holds an Australian Credit Licence, and raised a A$12 million Series A in April 2025 with Mastercard as an investor. Its iOS app rated 4.54 stars from more than 5,000 ratings in July 2026.
WeMoney suits people who are actively paying off debt and want feedback and company while they do it.
What is Frollo?
Frollo is an Australian open-banking company whose paying customers are banks, lenders and brokers. Its consumer app, Frollo for You, is free in the fullest sense, with no ads, no subscriptions and no in-app purchases.
You get CDR bank feeds, auto-categorisation, budgets, bill tracking, savings goals and net worth. A Financial Passport packages your verified finances for a mortgage broker.
Frollo claims over 145,000 users and both its apps shipped updates in mid-July 2026, though the company's marketing attention is on its business products. It suits people who want clean feeds and the budgeting basics with nothing being sold to them.
| WeMoney | Frollo | |
|---|---|---|
| Pricing (July 2026) | Free with ads; Pro A$9.99/mo with 7-day trial; no annual option listed | Completely free; no ads, subscriptions or in-app purchases |
| Data method | CDR open banking as an accredited recipient plus Yodlee credential-based feeds for other banks; no CSV import that we could find | CDR feeds as an unrestricted accredited recipient plus optional Yodlee fallback; no CSV import that we could find |
| Budgeting model | Spending tracking, categories and goals; debt payoff is the organising idea | Budgets, savings goals and bill tracking |
| Standout features | Credit scores from two bureaus, subscription detection, community, consolidation offers | Australian CDR data storage, 24-hour deletion on withdrawal, broker Financial Passport |
| Platforms | iOS and Android; desktop view is Pro-only | iOS and Android; no consumer web app |
| Privacy posture | Mix of CDR consent and Yodlee credentials; some data may be stored overseas; ad and referral monetisation | CDR consent dashboard, 90-day re-notification, AU storage for CDR data; Yodlee fallback can transfer data to the US |
WeMoney and Frollo at a glance, from their published pages as at July 2026.
What does Frollo's free app cost you?
Frollo's app costs you nothing measurable. It carries no ads and sells no upgrades.
The catch is that you are using the consumer app of a company whose attention is on business clients, so the app improves slowly.
What does WeMoney's free app cost you?
WeMoney's free tier costs you attention. You get ads in the app, partner promotions, and consolidation offers presented under its credit licence.
None of that is hidden or sinister, and the referral model is how the free credit scores get paid for. You should still expect to be marketed to.
WeMoney also keeps several features for Pro: ad removal, unlimited custom categories, the desktop view, daily Equifax fraud alerts and automatic goal tracking, at A$9.99 a month with no annual discount listed.
Which handles your data more carefully?
On paper, Frollo's CDR posture is the stronger one. It holds unrestricted accreditation, states that CDR data is held in secure systems located in Australia, re-notifies you every 90 days about active consents, and commits to irretrievably deleting shared data within 24 hours if you withdraw consent.
WeMoney is also a genuine accredited recipient. Its privacy policy notes data may be stored in providers' centres outside Australia, with overseas disclosure spanning several countries.
Both apps carry the same asterisk. Banks not covered by CDR fall back to Yodlee screen-scraping, where your login credentials pass to Yodlee itself.
Both also have commercial data practices worth reading in full. Frollo's Apple privacy label records data linked to identity and used for tracking, and WeMoney's model is built on partner referrals.
Neither is careless. If data residency is your tiebreaker, Frollo wins it.
Which app will you still be using in six months?
The ratings tell an honest story here. WeMoney's iOS rating of 4.54 stars across 5,000-plus ratings suggests an app people enjoy day to day, and its community feed, progress streaks and credit-score movements give you reasons to come back.
Frollo's ratings are softer, around 3.8 stars on iOS and 2.9 on Android in July 2026. With no ads to fund it and no subscription to justify, the consumer app receives maintenance updates.
Our honest read: WeMoney is the more engaging app day to day, and Frollo is the better deal.
If you need motivation, WeMoney's design will do more of the work. If you just want feeds and budgets with nobody selling to you, Frollo asks nothing back.
The verdict, by user type
- Actively paying down debt and wanting momentum: WeMoney. Credit scores, payoff tools and community are the whole point.
- Wanting zero commercial noise in a money app: Frollo. No ads, no offers, no upsell.
- Strict about data residency: Frollo. CDR data stored in Australia with 24-hour deletion on withdrawal.
- Wanting the more polished daily app: WeMoney. Its iOS rating and community features earn the retention.
- Heading toward a mortgage application: Frollo. The broker-ready Financial Passport is genuinely handy.
- Wanting desktop access without paying: neither, honestly. Frollo has no web app; WeMoney's desktop view is Pro-only.
And if neither quite fits
This article is published on kleev.ai, and we build Kleev, so here's the disclosure and the single pointer together. Kleev takes a different line from both apps.
Kleev has no bank connection at all, not even a consent-based one. You upload CSV exports yourself, and the file parses in your browser.
WeMoney and Frollo both stop at listing a property as a net-worth number. Kleev is built around investment property, with loans, offset modelling and cashflow.
If that is nearer your situation, see how Kleev tracks spending, the roundup of Kleev against the whole field, or the direct comparisons with WeMoney and Frollo.
The fine print
- This article is general information, not financial advice. Kleev describes your own data and does not give financial advice.
- Facts were verified on WeMoney's and Frollo's published pages and official registers in July 2026; features and prices may have changed since.
- We build Kleev, a competing money app, and have said so plainly rather than posing as a disinterested reviewer.
Common questions
Are WeMoney and Frollo both actually free?
Both have a genuinely free tier, funded differently. Frollo's app is completely free with no ads, no subscriptions and no in-app purchases, because the company earns from enterprise open-banking clients. WeMoney's free tier is ad-supported and earns referral revenue on partner offers, with a Pro tier at A$9.99 a month that removes ads and adds features.
Do WeMoney and Frollo hold their own CDR accreditation?
Yes, both are accredited data recipients under the Consumer Data Right, and both also keep a Yodlee fallback for banks CDR doesn't cover, which is credential-based screen-scraping. Frollo's accreditation is unrestricted and its CDR data is stored in Australia with deletion within 24 hours of consent withdrawal; WeMoney's policy notes some data may be stored overseas.
Which app is better for paying off debt?
WeMoney, decisively. Debt payoff is its entire positioning: debts tracked in one place, free monthly credit scores from two bureaus, daily Equifax fraud alerts on Pro, and consolidation offers under its Australian Credit Licence. Frollo tracks loans and budgets but has no credit scores or payoff toolset.
Can I use WeMoney or Frollo on a computer?
Mostly no. Frollo has no consumer web app at all; its web portals serve brokers and business clients. WeMoney offers a desktop accounts-and-transactions view, but only for Pro subscribers at A$9.99 a month. If web access matters to you, neither is a comfortable fit.