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A Monarch alternative that understands more than one currency

Monarch is a polished money app for households in the US and Canada, at $14.99 a month or $99.99 a year. Its help centre recommends connecting only USD or CAD accounts, because the app does not convert between currencies.

The short answer

If your money is all in USD or CAD and you want automatic bank aggregation and investment tracking, Monarch is a strong product. If your income, savings or family are spread across currencies, BudgetByChat converts everything into one budget, and it is free.

Side by side

FeatureBudgetByChatMonarch
PriceFree (full web app)$14.99/month or $99.99/year (first week free), billed in USD
Currencies30 currencies in one budget, converted at live ratesRecommends USD or CAD accounts only; no currency conversion
Where it works bestWorks in any country on the webUS and Canada
Bank connectionNo bank connection needed: log by hand, import nothing, export CSV/PDF/Excel any timeAutomatic aggregation (US and Canada)
Debt payoffDebt manager with avalanche vs snowball comparisonNot compared here

Monarch details checked on 10 October 2026 on Monarch’s own pages (see sources below). Prices can change; check before you buy.

When Monarch is the better choice

  • All your accounts are in USD or CAD and you want them synced automatically.
  • You want a polished app that syncs automatically and are happy to pay $99.99 a year.

When BudgetByChat is the better choice

  • You hold accounts in two or more currencies and need them converted, not added up as if they were the same.
  • You live outside the US and Canada.
  • You want zero-based budgeting, goals, net worth and debt planning for free.

What users say about Monarch

“It just adds them up as if 1 CAD = 1 EUR.”

Monarch review, App Store (Canada), 2★, Jul 2026

“All the great new features that have recently come out are moot for any users that have accounts in both CAD and USD.”

Monarch review, App Store (Canada), 2★, Feb 2026

Switching takes a few minutes

  1. Export your Monarch transactions to CSV for your records.
  2. Create a free BudgetByChat account and set your main currency.
  3. Add each account in its own currency; balances are converted at the latest rate.

Questions

Yes. Each account and transaction keeps its own currency, and totals are converted into your main currency at rates synced several times a day.

Monarch’s help centre recommends connecting only accounts in USD or CAD and says the app does not perform currency conversion.

You can budget combined household income in one account today. Shared logins for partners are not available yet.

Sources

Related

YNAB alternativeLooking for a YNAB alternative? YNAB costs $109 a year and keeps one currency per budget. BudgetByChat is a free zero-based budgeting app with 30 currencies in one budget.How to budget in two currenciesHow to budget in two currencies when you are paid in dollars or dirhams but spend in rupees: one base currency, accounts in their own currency, and remittances as a budget line.Net worth calculatorFree net worth calculator: add up cash, savings, gold, property and investments, subtract loans and cards, and see your net worth and debt-to-asset ratio. Nothing leaves your browser.Remittance budget calculatorFree remittance budget calculator: enter your salary and the share you send home, and see what your family receives at today’s exchange rate, plus what is left for you.

All of it, free forever.

No credit card. No trial. No feature limits.