Monarch: Personal Finance App App Negative ReviewsMonarch Money, Inc.

Monarch: Personal Finance App Negative Reviews

4.7
4.78754 star

Total 15 Negative Reviews

Monarch: Personal Finance App App Complaints & User Negative Comments 2023

Monarch: Personal Finance App app received 15 complaints, negative comments and reviews by users. Have you ever had a bad experience using Monarch: Personal Finance App? Can you share your negative thoughts about monarch: personal finance app?

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Monarch: Personal Finance App for Negative User Reviews

Great UI but fails to deliverThis app only has basic Plaid integration and found the numerous accounts did not sync properly. Loans were showing as positive values (wouldn’t that be nice?) and account values were not automatically updating daily. The features related to budgeting were great, especially being able to create custom categories..Version: 1.0.12

Still too manual and not mobile friendlyWhile it’s great at helping managing money, the app gets in the way of you managing your money. The auto suggest features seem wonky, spacing is never existent until after submission and generating rules is cumbersome at best. Has a lot of potential, but with the actual hands on work… way much better apps for its price.Version: 1.0.89

I want to loveBut 7 of my 9 financial institutions are currently listed on their known connectivity page: Wells, BOA, Fidelity, Vanguard, Cap1, Synchrony, and Amex. Only 1 of my accounts works and that’s Chase. My main credit union is not supported: Alliant Credit Union. So 1 out of 9. Umm. For $80 a year you need to offer syncing capabilities that at a minimum exceed that of your free rivals Mint and PC. Which both have minimal day to day issues syncing all 9 of my accounts. I’m grateful apps like MM and Simplifi are coming into the market to offer choice. But for now, they lack connectivity and refinement that the older apps have. Usually that is ok if we are comparing free apps to free apps. But premium apps such as MM shouldn’t come to the market offering syncing capabilities as limited as they have and anticipate making a name for themselves. Well, a positive name I should say..Version: 1.0.6

Bug or feature?Trying the trial. It won't let me put cents on half of the amount inputs (expected category amounts, beginning balances, goals). Instant red flag if I'm being prevented from having any detail in my financial planning. I did like that I can import Apple Card transactions but since it's just exporting a statement it will always be a month behind. Not their fault but not ideal. Too much white space on the iPad app. Promising ideas here but I'll stick with YNAB for now..Version: 1.0.55

Not optimized for iPadI got excited for this app. Various places advertised it as for “iPhone/iPad”. I have an iPad Pro and need it to fill the screen while my iPad is in horizontal position (like a computer) so that I can use the magic keyboard. This app came up sideways ! This makes it very difficult to use on an iPad Pro as I would have to hold the iPad up with one hand and peck at the screen with one finger like a hen. An app this expensive needs to flow from one device to another easily..Version: 1.0.41

Almost thereThe app has potential but a few features that I though would be standard aren’t available yet. 2FA is a must for any financial aggregator. Tagging is something else I would like to see. The design is great and hopefully they can add some features to make it truly stand out..Version: 1.0.3

Cheaping out on syncingThe syncing with financial institutions is not done real-time, only once every 12-24 hours, and even then, the correct balances don’t always update within the app. I’m guessing Monarch has to pay fees to the financial institutions to access their APIs and they are cheaping out on the number of times they are accessing the balances/transaction activity. This is not what I expect from a financial app today. Spend the money and make it real time, sell your company to a bigger financial services company if you need the money to make a better financial app..Version: 1.0.61

Problems syncingSometimes my accounts don’t sync on their own and I have to force a sync through the website (haven’t soon how to do that on the app). There’s no warning that there’s a problem so that means I need to pay really close attention to the app and compare to my accounts to see if it’s up to date which feels like it defeats the purpose of the app.Version: 1.0.97

Buyer BewareSuch a frustrating experience with Monarch. I purchased a subscription via iTunes and when my 14-day trial ended, the subscription I purchased was not recognized and I was asked to resubscribe (and locked out of my account even though I had already paid for a 1 year subscription). I reached out to Monarch support and was reassured that my paid subscription would kick in once the trial ended, but it did not. As a paid subscriber, I no longer have access to my budget or the Monarch platform. I was left with limited options to fix the issue, so I requested a refund via iTunes, hoping I could resubscribe and start over. That did not work either. Monarch has some issues to work through — and it’s disappointing and frustrating because this is the best budgeting app I’ve found..Version: 1.0.16

Great App, Needs more integrationsThis app is great. It’s clean, and easy to use. However, they don’t have many of the integrations that Mint has, and that’s not great since it’s a paid service. For example, I can’t add my mortgage company, but can in Mint. So, there needs to be significant investment in adding more integration..Version: 1.0.64

Can’t use. My banks aren’t listedI use a large known financial group called Lincoln Financial Group for my employer 401k but this app doesn’t connect to them. I also use the top gold star Morningstar best 529 plan from Utah My 529 and this doemst connect either. Mint, personal capital, all link with these two financial institutions. An app like Monarch that’s trying to say they’re the best option compared to other apps shouldn’t advertise like this is they don’t even connect to widely used institutions. So far I can’t see a reason why I should switch. It all seems the same as the others but worse that I can’t even connect my 401k and 529 plans. I haven’t even check if they connect Navient which was Sallie Mae yet, or VW Credit, or other ones im nervous to find out about. Thank god I still can cancel on their trial plan. I can’t give this app more than 1 star until they are fully intergrated with these institutions. Watch out everyone. Check your banks etc if they connect before you go over the free 7 days. If someone from Monarch can tell me they have now added these banks then I’d be happy to subscribe..Version: 1.0.82

All of my acts doesn’t connectLooking for a new budgeting platform but unfortunately couldn’t use this app fully because all of my accounts do not connect with it. This is the issue I’m having with every platform that uses Plaid. The following Accts /lenders do not connect on Plaid platforms although they are listed in the banking options: Indigo Mastercard, First Premier Card (the only have the link for the regular banking accounts. Credit cards use a different login system), Navient (major student loan institution), CreditOne Bank. If you use all of the major financial institutions, this will be a great product. If not you’ll get annoyed pretty quickly. Still searching for an app where I can see my full financial picture. I’ve been using EveryDollar for the past 2 years but honestly they use a plaid as well and my accounts are always disconnecting, so not even worth the monthly fee..Version: 1.0.71

Cool concept, a bit pricyI really like the idea and understand that the value of the app comes from not needing to take the time to log your individual purchases and paychecks, however I worked on my own spreadsheet and it took about 2 hours to put together and didn’t cost me anything. Overall very cool concept, just didn’t feel a need for it.Version: 1.0.68

HACKEDIf I could give this app zero stars I would. I loved the idea of it and was very excited by the interface and the tracking capabilities. However after signing up and linking my accounts my E*trade account was hacked within 8 hrs. Had to shut down my accounts and jump through a bunch of hoops to re-secure all of my accounts. What an absolute nightmare!! I will not be linking any of my accounts again..Version: 1.0.87

Why?There’s no point in having a “budgeting” app that’s just going to gouge you $90/yr. I’m trying to stick to a budget to save money not spend more of it. Honestly this is just a complete rip off I should be able to do the basics in this app without a subscription and if you want to spice it up a bit then you can charge me $90 a year. These subscription services are getting just absolutely ridiculous because at this point developers just expect you to pay subscription on top of subscription. The other thing you can do is make the app paid through the App Store instead. That would be better..Version: 1.0.72


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