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Personal Finance · head to head

Monarch Money vs Skrill

Monarch Money logo

Monarch Money

Personal Finance

All-in-one wealth management platform

From
$99/year
Rated
-
Full reviewWebsite
Skrill logo

Skrill

Personal Finance

Fast and secure money transfer

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only Skrill has a free tier, so it costs nothing to try first.
  • 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; Skrill a currency conversion fee of 4.49 percent applies to most conversions
  • They diverge on capability: Monarch Money covers Budget management, Skrill covers Money transfers.
  • Prices and features above were last checked on 30 August 2026.

Where they differ

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

Attributes where Monarch Money and Skrill differ
AttributeMonarch MoneySkrill
Starting price$99/yearFree
Pricing modelsubscriptiontransaction
Free tierNoYes
Founded20222001

Identical on both: platforms (Web, IOS, Android), user rating (Not yet rated), category (Personal Finance).

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 Skrill

  • Money transfers
  • Digital wallet
  • Currency conversion
  • Prepaid card
  • Credit cards

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 Skrill
  • Shared budgeting between partners in one accountnot Skrill
  • Monitoring net worth and investment balances alongside cash accountsnot Skrill

Skrill

  • Sending money internationally from a prepaid digital walletnot Monarch Money
  • Funding and withdrawing from online merchants and gaming sitesnot Monarch Money
  • Buying and selling cryptocurrency inside a wallet accountnot 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

Skrill

  • A currency conversion fee of 4.49 percent applies to most conversions
  • An inactivity fee of EUR 5.00 is deducted monthly after six months with no login or transaction
  • Card deposits carry a 2.50 percent fee
  • SWIFT bank withdrawals cost 2.80 percent with a minimum fee of EUR 3.5
  • Skrill to Skrill transfers cost 2.99 percent with a EUR 0.50 minimum on standard accounts, reduced to 1.45 percent only for True Skriller accounts
  • Crypto trading fees are tiered by VIP status, from 1.50 percent standard down to 1.30 percent at Gold and Diamond VIP

Pricing, plan by plan

Monarch Money

$99/year
  • Core Plan$99/year
    • 7-day free trial
  • Plus$null/year
    • Premium features

Skrill

Free
  • Free AccountFree
    • Money transfers
    • Digital wallet
  • Premier Account$undefined/month
    • Higher limits
    • Special rates

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 Skrill if

  • You need money transfers.
  • You want to start without paying.
  • You work on Web, IOS, Android.
  • You also want digital wallet.
Skrill review

Questions people ask

Is Monarch Money or Skrill better?
Neither clearly leads. Monarch Money starts at $99/year and Skrill at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Monarch Money or Skrill?
Skrill has a free tier; the other does not. Paid plans start at $99/year for Monarch Money and Free for Skrill.
Does Monarch Money or Skrill run on more platforms?
Both run on Web, IOS, Android, so platform support will not decide this one for you.
Can I use Skrill for free?
Yes. Skrill has a free tier, so you can try it without paying. Monarch Money starts at $99/year.
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 Skrill is typically brought in for.
What can Monarch Money do that Skrill cannot?
Monarch Money covers Budget management, Investment tracking, Tax planning, Financial insights. Skrill covers Money transfers, Digital wallet, Currency conversion, Prepaid card. Both handle Bank accounts, Web support, IOS support, Android support.

Answered from the vendors’ own pages

Monarch Money: How much does Monarch Money cost?

Monarch Money Core plan costs 99 USD/year, referenced in customer testimonials and promo code terms. Additional Plus tier exists but specific pricing is not disclosed on the main page.

Source
Skrill: Is Skrill free to use?

Skrill operates on a freemium model. The digital wallet is free to open and use for basic features. The site refers to a fees page where transfer, conversion, and service fees are disclosed.

Source
Monarch Money: Is there a free trial?

Yes, Monarch Money offers a 7-day free trial for new users with no credit card required.

Source
Skrill: What are Skrill's fees for transfers and conversions?

Skrill lists transfer, conversion, and service fees but does not display the specific amounts on the homepage. Detailed fee structures are available on Skrill's dedicated fees page at /en/siteinformation/fees/.

Source
Monarch Money: Are there discounts available?

Monarch Money offers 30% off the first year with promo code WELCOME for new members on annual Core plan subscriptions. Cannot be combined with other offers.

Source
Skrill: What services does Skrill offer?

Skrill provides international money transfers, online payment processing, cryptocurrency buying and selling, loyalty rewards through the Knect points program, and a mobile app. These services are included in the free account.

Source
Skrill: Is Skrill regulated?

Yes. Skrill Limited is authorized by the Financial Conduct Authority under the Electronic Money Regulations 2011 for issuing electronic money and payment instruments. It is also registered with the FCA as a cryptoasset firm.

Source
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