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Software · head to head

Monarch Money vs Remitly

Monarch Money logo

Monarch Money

Software

All-in-one wealth management platform

From
On request
Rated
-
Full reviewWebsite
Remitly logo

Remitly

Software

Send money faster to loved ones abroad

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Monarch Money the free trial is one week, after which a paid subscription is required to keep using the app; Remitly no fee schedule, exchange rate margin or transfer limit is published; the cost is disclosed only after starting a transfer for a specific corridor
  • They diverge on capability: Monarch Money covers Budget management, Remitly covers International remittances.

Where they differ

Only the attributes on which Monarch Money and Remitly actually diverge.

Attributes where Monarch Money and Remitly differ
AttributeMonarch MoneyRemitly
Pricing modelsubscriptiontransaction
Founded20222011

Identical on both: starting price (On request), free tier (No), platforms (Web, IOS, Android), 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 Monarch Money

  • Budget management
  • Investment tracking
  • Tax planning
  • Financial insights
  • Investment accounts
  • Cryptocurrency

Only in Remitly

  • International remittances
  • Multiple delivery methods
  • Send money to 200+ countries
  • Currency conversion

Both cover

  • Bank accounts
  • Web support
  • IOS support
  • Android support

What people use each for

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

Monarch Money

  • Tracking household budgets and spending across linked bank accountsnot Remitly
  • Shared budgeting between partners in one accountnot Remitly
  • Monitoring net worth and investment balances alongside cash accountsnot Remitly

Remitly

  • Sending cross border remittances from a phone or browsernot Monarch Money
  • Delivering funds to bank accounts, cash pickup and mobile wallets abroadnot Monarch Money

Where each one falls short

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

Monarch Money

  • The free trial is one week, after which a paid subscription is required to keep using the app
  • The advertised 30 percent discount with code WELCOME applies to the first year only and is restricted to new users
  • There is no free tier, and a Plus tier gates features above the base subscription

Remitly

  • No fee schedule, exchange rate margin or transfer limit is published; the cost is disclosed only after starting a transfer for a specific corridor
  • The Express and Economy delivery options have no published price difference

Pricing, plan by plan

Monarch Money

On request
  • Premium$14.99/month
    • Unlimited accounts
    • Investment tracking
    • Tax planning
  • Premier$39.99/month
    • All Premium features
    • Financial advisor access

Remitly

On request
  • Express$undefined/month
    • Fast transfers
    • Multiple delivery methods
  • Economy$undefined/month
    • Lower cost option
    • 3-4 day delivery

Which should you pick?

Choose Monarch Money if

  • You need budget management.
  • You work on Web, IOS, Android.
  • You also want investment tracking.
Monarch Money review

Choose Remitly if

  • You need international remittances.
  • You work on Web, IOS, Android.
  • You also want multiple delivery methods.
Remitly review

Questions people ask

Is Monarch Money or Remitly better?
Neither clearly leads. Monarch Money starts at On request and Remitly at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Monarch Money or Remitly?
Monarch Money starts at On request and Remitly at On request.
Does Monarch Money or Remitly run on more platforms?
Both run on Web, IOS, Android, so platform support will not decide this one for you.
What is Monarch Money best used for?
Monarch Money is most often used for tracking household budgets and spending across linked bank accounts, shared budgeting between partners in one account, monitoring net worth and investment balances alongside cash accounts. Of those, tracking household budgets and spending across linked bank accounts and shared budgeting between partners in one account are not what Remitly is typically brought in for.
What can Monarch Money do that Remitly cannot?
Monarch Money covers Budget management, Investment tracking, Tax planning, Financial insights. Remitly covers International remittances, Multiple delivery methods, Send money to 200+ countries, Currency conversion. Both handle Bank accounts, Web support, IOS support, Android support.
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