A Monarch Money alternative for Europe

Monarch is clear about its reach. Its FAQ says it is “currently only available in the US and Canada,” and recommends connecting only USD or CAD accounts.¹ That rules out a current account at Santander in Madrid or a Monzo account in London.

Currency is the bigger gap. Monarch shows everything with a $ sign and, in its own words, “does not perform any currency conversion.” A 10,000 CAD account and a 10,000 USD account show as $20,000 of net worth. Monarch also says it has no plans to expand currency support in the near future.²

Borderless Budget connects bank accounts in the US, Canada, the UK and the EU, plus Norway, Iceland and Liechtenstein. Where a bank isn't supported, CSV import and manual accounts cover it, in any currency.

Every transaction keeps the currency it was spent in. It also converts to your home currency at the exchange rate for its own date, using daily rates mainly from the European Central Bank. Your budgets, spending and net worth all add up in one currency, and you can always see what you actually paid.

Net worth covers the accounts you connect or add by hand, converted the same way. Connected investment accounts show their holdings but stay out of your spending and budgets, so a fund purchase never looks like a shopping trip.

Monarch's Core plan is $14.99 a month or $99.99 a year after a 7-day trial. Its Plus plan, with deeper investment analysis, is $199.99 a year.^{3, 4}

Borderless Budget has a 30-day free trial, then costs $10 a month or $99 a year, billed in USD, with every feature and up to 10 connected banks included.⁵ On a yearly plan the two cost about the same, so choose based on where your money is, not on price.

Already set on Monarch for your US accounts? See how a cross-border setup looks when everything is in one place.