monarchmoney.com Reviews 

Used a monthy subscription for about 2 mths and work fine. Bought the 1 yr subscription and 5 weeks later connection issues with one bank and then the other. Useless as a tool for me in Canada. Don't buy. Customer service says : your call is important to us... but nothing gets fixed.

I love this Monarch, but... The budget and tracking app has been so great for about 10 months and I have relied on it heavily. Until the beginning of April. Lost connection, customer service is only a delayed 24 hour response. Sometime you just want someone to take the wheel and drive for 5 minutes, but instead I email, wait a day try to download, upload, connect, doesn't work, email, wait a day and do it all over again. frustrating experience after a great 10 months and risking lost of all that data. Sucks when such a great product isn't back by great customer service. I will update my rating once they fix the customer service.

I started using Monarch eight months ago. Seemed ok with the occasional issue, but issues kept compiling and getting more frequent over time.

Duplicate transaction imports. Missing transactions. Connected accounts repeatedly disconnected and requiring FIVE MINTES FROM ME EVERY THREE DAYS TO RECONNECT. Changes I make to transactions GETTING LOST.

Do not start relying on Monarch for any data you care about because moving away is a horrendous task.

And support is beyond useless.

Just another VC train wreck.

Just cancelled. I loved the tool at first, really great features but the underlying data pull from institutions are not accurate rendering the tool useless. I have spent hours in the tool over the last few months and feel I am owed a refund as the tool just does not work.

I transferred to Monarch Money in January from Mint. I realized immediately it did not have a feature I needed- I could not roll over my variable income from month to month, so I could compare how I was doing budget-wise for the year- but I plugged on thinking I could work around it
However, I soon noticed that transactions were being regularly auto-deleted by the system. I alerted support who worked for months to resolve the problem but could not. I had to constantly recheck my transactions to see what I had to re-categorize. This took so much of my time, I elected to begin again in another software.

Monarch Money is a great concept poorly executed. The financial institution connections are unreliable. Transactions are regularly auto-deleted by the system. This is a known issue and after five months of support promising they will fix it, they haven't figured it out yet. The system is supposed to be a time saver but instead requires much more time reviewing everything to make sure all the transactions are there - and haven't been deleted or duplicated since the last time I reviewed the transactions. Basically unusable. In addition, the user interface is buggy and simply doesn't work some days. I held off since January from writing a review but there seems to be no progress to improve the system.

Useless outside of USA (I'm in Australia) due to no banking connections and no currency conversion. Otherwise would be a promising app.

I have tried to use MonarchMoney for two months. I wanted to love this. The graphic interface is lovely and the import from Mint went fine. However, Monarch has been consistently unusable to track my spending or budget. It is unable to pull expenses from my Apple credit card. It is unable to identify direct deposits to my checking account as "income," and these deposits show up on the graph but not in the list of transactions. I have to reconnect each of my accounts using Plaid several times during each use session - once less than 5 minutes apart. If I could reach a human, I would ask for my money back, but it takes up to a week for them to respond to customer tickets. This seems like a good product that was rushed to market before it was finished, and in the process, Monarch has ruined its reputation, at least with me.

I tracked our family's budget on Mint for years, and I was a little worried when I learned Inuit would close mint.com down. What would happen to all of my work? The history of our transactions? Where would I manage our budget? How would I be able to keep myself honest about spending trends? How would I know top-line info for taxes?

I have been delighted by the way Monarch Money has picked up the Mint baton and made it possible for me to feel confident with our family finances.

Beyond matching some key features of Mint, the software has a few things I really love:

1) Transaction rules with lots of flexibility

One of the things I hate about tracking money is the manual task of assigning transaction categories. Mint could automate this a little, but Monarch has taken it to another level. I love being able to automatically change the category of a charge based on multiple variables (including "contain" operators vs. just "matches" operators) including the text in the merchant field, amount of the charge, and more. It makes it possible for most of my transactions to be automatically categorized correctly every time.

2) "Needs Review" flags

This sorting mechanism makes it really simple to review anything that come in that doesn't fit a current rule, or to flag certain types of transactions (like "ATM & Cash") for further categorization or manual splitting. The extra nice part is that you can assign transactions for review by different people. So, if another family member needs to review something and categorize it, you can assign that.

3) Mint-specific Migration tools

Monarch made moving 10+ years of Mint data over to their tool manageable. I can't say it was done in a few moments but it was straightforward and I have confidence that I got the history moved with consistent categories and matching accounts. Any team that can make that possible must be able to do good UI/UX work and have a solid software team.

One big difference between Mint vs. Monarch: Monarch costs money.

Paying for Monarch is not a dealbreaker for me as Mint was free, but full of ads. They were annoying and got in the way of basic tasks. I also knew that my financial info was being used to serve ads, but never really impressed me with the personalization (For example, I was always being told I could pay down our student debt even after it was all paid off).

By paying for Monarch I not only don't have ads, I also have more assurance that it's a tool with longevity. After all, if they want me to keep paying for the service, it better be secure, improve, and respond to my customer needs vs. advertiser whims.