Software · head to head
Wally vs Charles Schwab
The short version
- Only Wally has a free tier, so it costs nothing to try first.
- Each has a real cost: Wally the Internet Archive's capture of wally.me on 2 January 2019 stated the app is free ('Control your money seamlessly. And, it's free.'), and claimed rankings as the #1 finance app in 22 countries and top 10 in 52 countries at that time.; 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: Wally covers Receipt OCR scanning, Charles Schwab covers Commission-free trading.
Where they differ
Only the attributes on which Wally and Charles Schwab actually diverge.
| Attribute | Wally | Charles Schwab |
|---|---|---|
| Starting price | Free | On request |
| Pricing model | freemium | transaction |
| Free tier | Yes | No |
| Platforms | IOS, Android | Web, IOS, Android |
| Founded | 2009 | 1971 |
Identical on both: 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 Wally
- Receipt OCR scanning
- Expense tracking
- Receipt storage
- Category management
- Cloud storage
Only in Charles Schwab
- Commission-free trading
- Retirement planning
- Wealth management
- Research tools
- Bank accounts
- Investment accounts
- Web support
Both cover
- IOS support
- Android support
What people use each for
The jobs each tool is most often brought in to do.
Wally
- Budget Management
- Expense Tracking
- Investment Tracking
Charles Schwab
- Budget Management
- Expense Tracking
- Investment Tracking
Both are used for budget management, expense tracking, investment tracking, on those jobs the choice comes down to price and fit rather than capability.
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
Wally
- The Internet Archive's capture of wally.me on 2 January 2019 stated the app is free ('Control your money seamlessly. And, it's free.'), and claimed rankings as the #1 finance app in 22 countries and top 10 in 52 countries at that time.
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
Wally
Free- FreeFree
- Receipt scanning
- Expense tracking
- Basic reports
- Premium$9.99/month
- Advanced analytics
- Unlimited storage
- Cloud sync
Charles Schwab
On request- Individual BrokerageFree
- Commission-free trading
- Research tools
- Schwab Advisor Services$undefined/month
- All Brokerage features
- Wealth management
- Personal advisors
Which should you pick?
Choose Wally if
- You need receipt ocr scanning.
- You want to start without paying.
- You work on IOS, Android.
- You also want expense tracking.
Choose Charles Schwab if
- You need commission-free trading.
- You work on Web, IOS, Android.
- You also want retirement planning.
Questions people ask
- Is Wally or Charles Schwab better?
- Neither clearly leads. Wally starts at Free and Charles Schwab at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Wally or Charles Schwab?
- Wally has a free tier; the other does not. Paid plans start at Free for Wally and On request for Charles Schwab.
- Does Wally or Charles Schwab run on more platforms?
- Wally runs on IOS, Android. Charles Schwab runs on Web, IOS, Android.
- Can I use Wally for free?
- Yes. Wally has a free tier, so you can try it without paying. Charles Schwab starts at On request.
- What is Wally best used for?
- Wally is most often used for budget management, expense tracking, investment tracking.
- What can Wally do that Charles Schwab cannot?
- Wally covers Receipt OCR scanning, Expense tracking, Receipt storage, Category management. Charles Schwab covers Commission-free trading, Retirement planning, Wealth management, Research tools. Both handle IOS support, Android support.