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Charles Schwab vs Moneydance

Charles Schwab logo

Charles Schwab

Software

Investing made simple

From
On request
Rated
-
Full reviewWebsite
Moneydance logo

Moneydance

Software

Cross-platform personal finance management

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Charles Schwab broker-assisted trades cost $25 and automated phone trades cost $5 in addition to the standard $0 online commission, per the App Store listing for Schwab Mobile; Moneydance the free trial is limited to 100 manually entered transactions
  • They diverge on capability: Charles Schwab covers Commission-free trading, Moneydance covers Bill tracking.

Where they differ

Only the attributes on which Charles Schwab and Moneydance actually diverge.

Attributes where Charles Schwab and Moneydance differ
AttributeCharles SchwabMoneydance
Pricing modeltransactionone-time
PlatformsWeb, IOS, AndroidWindows, Mac, Linux, IOS, Android
Founded19712001

Identical on both: starting price (On request), free tier (No), user rating (Not yet rated), category (Unknown).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Charles Schwab

  • Commission-free trading
  • Retirement planning
  • Wealth management
  • Research tools
  • Web support

Only in Moneydance

  • Bill tracking
  • Investment monitoring
  • Budget tracking
  • Financial forecasting
  • OFX import
  • Windows support
  • Mac support
  • Linux support

Both cover

  • Bank accounts
  • Investment accounts
  • IOS support
  • Android support

What people use each for

The jobs each tool is most often brought in to do.

Charles Schwab

  • Budget Managementnot Moneydance
  • Expense Trackingnot Moneydance
  • Investment Trackingnot Moneydance

Moneydance

  • Desktop personal finance management on macOS, Windows and Linuxnot Charles Schwab
  • Importing and reconciling bank and credit card transactions locallynot Charles Schwab
  • Tracking investments and budgets without a cloud-only servicenot Charles Schwab

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Charles Schwab

  • Broker-assisted trades cost $25 and automated phone trades cost $5 in addition to the standard $0 online commission, per the App Store listing for Schwab Mobile
  • Options trades carry a $0.65 per-contract fee on top of the $0 online commission, per the App Store listing for Schwab Mobile

Moneydance

  • The free trial is limited to 100 manually entered transactions
  • A one-time Buy Once purchase covers Moneydance 2024 plus one free upgrade to the next major release, not all future versions
  • Bank connection features are sold separately as the Moneydance Plus subscription rather than included in the one-time purchase
  • Business use requires one licence per computer, while the household licence covers personal use only

Pricing, plan by plan

Charles Schwab

On request
  • Individual BrokerageFree
    • Commission-free trading
    • Research tools
  • Schwab Advisor Services$undefined/month
    • All Brokerage features
    • Wealth management
    • Personal advisors

Moneydance

On request
  • Perpetual License$59.99/month
    • Full feature set
    • Free updates

Which should you pick?

Choose Charles Schwab if

  • You need commission-free trading.
  • You work on Web, IOS, Android.
  • You also want retirement planning.
Charles Schwab review

Choose Moneydance if

  • You need bill tracking.
  • You work on Windows, Mac, Linux, IOS, Android.
  • You also want investment monitoring.
Moneydance review

Questions people ask

Is Charles Schwab or Moneydance better?
Neither clearly leads. Charles Schwab starts at On request and Moneydance at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Charles Schwab or Moneydance?
Charles Schwab starts at On request and Moneydance at On request.
Does Charles Schwab or Moneydance run on more platforms?
Charles Schwab runs on Web, IOS, Android. Moneydance runs on Windows, Mac, Linux, IOS, Android.
What is Charles Schwab best used for?
Charles Schwab is most often used for budget management, expense tracking, investment tracking. Of those, budget management and expense tracking are not what Moneydance is typically brought in for.
What can Charles Schwab do that Moneydance cannot?
Charles Schwab covers Commission-free trading, Retirement planning, Wealth management, Research tools. Moneydance covers Bill tracking, Investment monitoring, Budget tracking, Financial forecasting. Both handle Bank accounts, Investment accounts, IOS support, Android support.
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