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Moneydance vs Charles Schwab

Moneydance logo

Moneydance

Software

Cross-platform personal finance management

From
On request
Rated
-
Full reviewWebsite
Charles Schwab logo

Charles Schwab

Software

Investing made simple

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Moneydance the free trial is limited to 100 manually entered transactions; 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
  • They diverge on capability: Moneydance covers Bill tracking, Charles Schwab covers Commission-free trading.

Where they differ

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

Attributes where Moneydance and Charles Schwab differ
AttributeMoneydanceCharles Schwab
Pricing modelone-timetransaction
PlatformsWindows, Mac, Linux, IOS, AndroidWeb, IOS, Android
Founded20011971

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 Moneydance

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

Only in Charles Schwab

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

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

Charles Schwab

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

Where each one falls short

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

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

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

Pricing, plan by plan

Moneydance

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

Charles Schwab

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

Which should you pick?

Choose Moneydance if

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

Choose Charles Schwab if

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

Questions people ask

Is Moneydance or Charles Schwab better?
Neither clearly leads. Moneydance starts at On request and Charles Schwab at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Moneydance or Charles Schwab?
Moneydance starts at On request and Charles Schwab at On request.
Does Moneydance or Charles Schwab run on more platforms?
Moneydance runs on Windows, Mac, Linux, IOS, Android. Charles Schwab runs on Web, IOS, Android.
What is Moneydance best used for?
Moneydance is most often used for desktop personal finance management on macos, windows and linux, importing and reconciling bank and credit card transactions locally, tracking investments and budgets without a cloud-only service. Of those, desktop personal finance management on macos, windows and linux and importing and reconciling bank and credit card transactions locally are not what Charles Schwab is typically brought in for.
What can Moneydance do that Charles Schwab cannot?
Moneydance covers Bill tracking, Investment monitoring, Budget tracking, Financial forecasting. Charles Schwab covers Commission-free trading, Retirement planning, Wealth management, Research tools. Both handle Bank accounts, Investment accounts, IOS support, Android support.
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