A native Mac alternative to Monarch Money.
Monarch is a web app. Banktivity is not. If you want the full Mac and iPhone experience — alongside deeper investment tracking, local data storage and budgeting that actually knows what is coming — Banktivity is built for that.
Monarch Money earned its following after Mint shut down — clean design, solid syncing and a modern interface made it an easy landing spot for a lot of people. But Monarch is a web app at its core. On Mac it runs in your browser, not as a native application. On iPhone the experience is better, but the underlying product still has gaps: investment tracking is limited, your data lives on their servers, and recurring transactions do not automatically flow into your budget. For Apple users who want something that goes deeper, Banktivity is purpose-built for that.
On this page
- Where Monarch falls short
- Why Banktivity goes further
- Banktivity vs Monarch — feature comparison
- A truly native Apple experience
- Budgeting that knows what is coming
- Investment tracking
- Privacy and local data storage
- Custom grouping and organization
- Reports and insights
- What customers say
- Frequently asked questions
Where Monarch Falls Short
Monarch is a well-executed product. The limitations are not about quality — they are about what a web-first tool can and cannot do for Apple users who want something deeper.
It is a web app, not a native Mac app
Monarch runs in your browser on Mac. That means no menu bar integration, no native keyboard shortcuts, no offline access and none of the performance or feel you get from software built specifically for macOS. On iPhone the app is better, but the product was designed for the web first.
Investment tracking is surface-level
Monarch shows investment account balances and basic allocation. It does not track individual securities, portfolio performance, ROI, capital gains or lot-specific cost basis. For anyone actively managing a portfolio, that gap requires a separate tool.
Recurring transactions don't feed your budget automatically
In Monarch, budgeting and recurring transactions are largely separate. Banktivity automatically incorporates scheduled transactions into your budget — so your mortgage, subscriptions and known bills are already accounted for before the money leaves your account.
Your data lives on their servers
Monarch is cloud-only. Your complete financial picture — every account, every transaction, every balance — lives on Monarch's servers. Banktivity stores your data locally on your devices, with end-to-end encrypted sync when you want it.
No custom account grouping
Monarch presents accounts in a standard list without the ability to create custom groups. Banktivity lets you organize accounts exactly the way you think about your money — by person, institution, account type or any other structure that makes sense to you.
Why Banktivity
Built for Mac. Not adapted for it.
Banktivity is a native application — built from the ground up for macOS, iOS and iPadOS. It behaves like Mac software because it is Mac software: fast, offline-capable, keyboard-friendly and fully at home on every Apple device you own.
Beyond the platform, Banktivity covers the depth that Monarch leaves out — real investment tracking, budgets that automatically incorporate your recurring transactions, local data storage, custom account groups and a full reporting suite. It is a complete financial management tool, not a spending dashboard.
What you gain
- Truly native Mac, iPhone and iPad apps — not a web app
- Local data storage — your data stays on your devices
- End-to-end encrypted Cloud Sync
- Recurring transactions automatically incorporated into your budget
- Full investment tracking — securities, ROI, IRR, dividends, capital gains
- Custom account groups to organize your finances your way
- 30-day free trial, no credit card required
What to know before switching
- Mac and iOS only — no Windows or Android
- More depth than Monarch — some setup time to get the most out of it
- No direct Monarch data import — CSV export from Monarch can be used
Banktivity vs Monarch Money
Native software versus a web app — and everything that comes with that difference.
The gap between Banktivity and Monarch starts with the platform and runs through investment depth, data privacy, budgeting intelligence and organizational flexibility.
| Feature | Banktivity | Monarch |
|---|---|---|
| Platform & Data | ||
Native Mac desktop app Built for macOS — not a web app |
✔ Fully native | ○ Web app only |
Native iPhone + iPad app Full-featured iOS — not a web wrapper |
✔ Fully native | ○ Mobile app |
Offline access Full functionality without internet connection |
✔ Advanced | ○ Limited |
Local data storage Your data stays on your devices |
✔ On your device | ✗ Cloud only |
| Budgeting & Reporting | ||
Annual budget planning Plan all 12 months — handle irregular expenses |
✔ Full year planning | ○ Limited |
Report export — PDF, CSV, Excel Portable reports for your CPA or records |
✔ Advanced | ○ Limited |
Custom report builder Tailor reports to exactly what you need |
✔ Advanced | ○ Limited |
Report folders & organization Keep saved reports organized and accessible |
✔ Full organization | ○ Limited |
| Goals & Planning | ||
Retirement projections & scenarios What-if modeling for retirement age, savings, income |
✔ Full suite | ○ New / basic only |
College savings planning Dedicated advanced education savings tool |
✔ Advanced | ○ Basic only |
Extra payment & purchase impact Model payoff and big purchase scenarios |
✔ Advanced | ✗ Not available |
What-if scenario modeling Test financial decisions before you make them |
✔ Advanced | ○ New / basic only |
| Transactions | ||
Multiple currency support 30+ currencies with auto exchange rate downloads |
✔ 30+ currencies | ○ Limited |
Annual budget planning Budget month by month across the full year |
✔ Full year | ○ Limited |
| Investment Tracking | ||
Cost basis & tax lot management Track purchase lots for accurate tax reporting |
✔ Advanced | ○ New / basic only |
Rate of return — IRR & ROI Institutional-grade performance metrics |
✔ Advanced | ○ New / basic only |
Tax-loss harvesting Surface harvesting opportunities automatically |
✔ Advanced | ✗ Not available |
Performance attribution Understand what's driving portfolio returns |
✔ Advanced | ○ New only |
| Privacy & Pricing | ||
Local data ownership No third party holds your financial data |
✔ On device | ✗ Cloud only |
Annual subscription price Cost per year for full access |
✔ From $59.99 | ○ $99.99 / year |
A Truly Native Apple Experience
Monarch runs in your browser. Banktivity runs on your Mac.
The difference between a web app and a native Mac app is not just aesthetic. Native means offline access, faster performance, proper keyboard support, deeper macOS integration and an app that behaves the way every other piece of Mac software does. Banktivity was built for Apple devices exclusively — that is not a constraint, it is why it feels right.
Budgeting That Knows What Is Coming
Your recurring transactions are already in your budget — automatically.
In Monarch, your budget and your recurring transactions exist in separate places. In Banktivity, scheduled transactions automatically flow into your budget — so your mortgage, utilities, subscriptions and any other known expenses are already accounted for before the money leaves your account. Your budget reflects reality, not just what you manually entered.
Track Investments
Real investment tracking — not just what your accounts are worth.
Monarch shows you investment account balances and a basic allocation breakdown. Banktivity tracks what is inside those accounts — individual securities, portfolio performance, buys, sells, dividends, options, ROI, IRR and capital gains — all from the same app you use for your budget and reports.
Privacy & Local Data Storage
Your financial data stays on your devices — not on someone else's servers.
Monarch is cloud-only. Your complete financial history lives on their servers, accessible to their systems. Banktivity stores your data locally on your Mac, iPhone and iPad. If you choose to sync across devices, that sync is end-to-end encrypted — meaning even Banktivity cannot read your data in transit.
Custom Grouping & Organization
Organize your accounts the way you actually think about your money.
Monarch presents your accounts in a standard list. Banktivity lets you put accounts into custom groups — by person, by institution, by account type or any structure that reflects how you actually manage your finances. When you have multiple banks, retirement accounts, investment accounts and loans, that structure makes everything easier to read at a glance.
Reports & Insights
Go beyond spending summaries to your complete financial picture.
Monarch offers spending and cash flow reports. Banktivity gives you a full reporting suite — income and expense, net worth over time, payee breakdowns, tax summaries, forward-looking forecasts and investment performance — so you can understand every layer of your financial life.
What Customers Say
Real customers who wanted more from their financial app.
Many Banktivity customers came looking for something with more depth — a real native Mac experience, meaningful investment tracking and tools that grow with their financial life.
"As prior users of a competing free online service, we were frustrated by the lack of ability to customize reports and output to our categories. Banktivity offers all the automation you can wish for while at the same time enables users to customize and report as they want."
– Philip, Florida
"Now, all it takes us is a 15-minute monthly session to review all transactions and change a few categorizations. Love being able to know at any moment what our expenditures are, in which categories, and what is our cash-flow need."
– Philip, Florida
"Simple, effective and efficient money management — doing the accounts is now a pleasure not a chore!"
– R.A.B., United Kingdom
Frequently Asked Questions
Is Banktivity a good replacement for Monarch Money?
Yes, particularly for Apple users who want a native Mac experience and deeper financial tools. Banktivity is not a web app — it runs natively on Mac, iPhone and iPad. It also adds investment tracking, local data storage, recurring transactions that automatically feed your budget, and custom account grouping that Monarch does not offer.
What is the difference between a native Mac app and a web app?
A native Mac app is built specifically for macOS and runs as a standalone application — faster, available offline, integrated with the system and behaving like every other piece of Mac software. Monarch runs in your browser, which means it requires an internet connection, lacks native macOS integration and does not feel like a first-class Mac application.
How does Banktivity handle recurring transactions differently from Monarch?
Banktivity's scheduled transactions are automatically incorporated into your budget. Your mortgage, subscriptions and any other recurring expenses are already accounted for in your plan before they hit — giving you a more accurate picture of what is genuinely available to spend. In Monarch, recurring transactions and budgeting are managed separately.
Does Banktivity store my data locally?
Yes. Banktivity stores your financial data on your own devices. Monarch is cloud-only, meaning your complete financial history lives on their servers. If you choose to sync across devices with Banktivity, that sync is end-to-end encrypted.
Does Banktivity track investments better than Monarch?
Significantly. Monarch shows investment account balances and a basic allocation view. Banktivity tracks individual securities, portfolio performance, buys, sells, dividends, options, ROI, IRR and lot-specific capital gains — all within the same app you use for budgeting.
Can I import my Monarch data into Banktivity?
There is no direct Monarch import, but Monarch allows you to export your transaction history as a CSV file which Banktivity can import.
Does Banktivity require a subscription?
Banktivity is available as an annual subscription or as a one-time purchase. Monarch is subscription-only at $99.99/year with no perpetual license option.
Try Banktivity risk-free for 30 days.
No credit card required for first-time subscribers. A truly native Mac and iPhone experience — with the investment tracking, local data storage and budgeting depth that Monarch doesn't have.