The new transaction review system lets you mark transactions as needing review or already reviewed. You can set the review status automatically using if-then style transaction rules or manually. Once your system is set up you can enable alerts via email or push notification. A new dashboard card shows a quick list of transactions that need review right when you open Monarch. Here are a few ways you might use the new system:
Mark transactions from super stores like Amazon, Costco or Walmart as “needs review” so we can split them into more specific categories
Mark transactions as “already reviewed” if our rules touch them. Only notify us when transactions are not processed by rules so they can be reviewed manually
Mark big transactions over a certain amount as “needs review”
Any accounts or credit cards we are keeping open but don’t actively use should have all transactions in them marked as needing review
Set a Venmo account as “needs review” so we can categorize things correctly when splitting bills or paying friends and family (Venmo support is coming very soon!)
Cash flow can be grouped by Quarters now. Live on web and in the next mobile app update
Cash flow has new options to filter by account or tag - live on web, on mobile soon
Under “edit account” there is new account visibility options to hide transactions, balance history or exclude an account from cash flow or budgets
Under “edit account” the type and subtype lists are now combined into 1 simple account type list with their acronyms unpacked
Bulk edit on transactions now has a delete button. Be careful! Web only, on mobile soon.
The investment graph on mobile loads much faster, particularly when switching time periods
Some notifications in the mobile app weren’t loading transaction details when tapped
Filtering “by Merchant” and “by Year” in the cash flow section sometimes weren’t showing all matching transactions
Adding tags to multiple transactions in the mobile app sometimes was failing
Venmo: This is in in the final stage of internal testing with employee accounts and will be released in the next few weeks.
Recurring: The next major new section in Monarch is coming along well and will help you detect and track bills or subscriptions.
iOS Widgets: The first 2 widgets for tracking budget amounts and cash flow categories will be released soon.
The investments section is now available on the mobile app. You can track all your investment accounts in 1 place, including crypto. Also, a new dashboard card helps you keep tabs on your top 4 investment holding changes right when you open the app.
New Cash Flow features
Income and Expenses can now be grouped by their parent category “Group”. Previously you could group by individual Category or Merchant so this allows for a higher level grouping of your cash flow across multiple categories. Particularly cool if you use the fixed vs flex budget grouping.
Cash Flow can be grouped by Year or by Week in addition to Monthly. We’re also adding a group by Quarter soon.
The current month shows a dotted savings line to indicate its only partially complete until the month is over.
Investment Graphs have a new download button in the top right (web only) so you can download an image (PNG) of your investment holdings or types. The downloaded images only show percentage (no dollar numbers) so they are safe to share or compare with others on a personal finance forum or social media platform.
Account Graph Colors have a new palette. Assets are cooler colors (green = cash, blue = investments, purple = real estate) and liabilities are warmer colors (red = credit cards, yellow = loans etc).
Real Estate accounts tracked with Zillow now have a “Connection Status” card and can be force refreshed to fetch the latest home value.
Plan Budget shows a new tool tip on the “left to budget” card to see how the calculation is made.
New contact support form which allows attachments and an option to “grant support access” to help make troubleshooting easier. Also the Help Center has a new look with some refreshed articles if you are looking for a deeper explanation on how certain features work.
In the Android app, fixed a bug where you couldn’t upload receipt photos.
In Safari, the date picker was hidden when editing multiple transactions.
Pending transactions had a bug where tags or being marked as hidden would get removed when they transitioned from pending to posted. Any changes to pending transactions should stay applied now when they post.
When adding a manual transaction to a synced account, it incorrectly showed a new balance. The balance of synced accounts does not update when a manual transaction is added so this was fixed.
In the mobile app, after creating a new rule, the app didn’t bring you back to the transaction screen to continue categorizing transactions. This is now fixed.
Fixed a bug where you couldn’t change liability account types in the desktop web app.
Transaction Review: We’re getting close to shipping a new system that will allow you to use rules to create criteria for marking transactions as “needs review” based on their amount, category, account etc.
Recurring: This big new section will detect recurring transactions things like subscriptions and bills. They will be displayed on a calendar view so you can plan things out in advance and review/mark as paid.
Venmo: We’ve discovered a solution for integrating with Venmo and should be able to quickly add support soon.
iOS Widgets: The framework is in place for adding iOS widgets and we’ll be releasing new ones every few weeks. Look for the first one soon.
New navigation on mobile: The “Plan” is back in the main 5 navigation items at the bottom now. There is also a new sidebar menu that can be accessed by tapping your user profile icon in the top left to view extra sections and settings.
Transactions can now be deleted from a synced account. Also, manual transactions can now be added to a synced account. Balances for synced accounts are still independent of the transactions since the balance is provided directly from the bank.
Bulk editing of transactions can now clear tags and notes
New “left to plan” footer row in green at the bottom of the budget screen more clearly shows how a budget balances
New “Help & Support” menu consolidates the help center, feature request and contact support links. This allows the left navigation to fit on a common 13” laptop screen without needing to scroll anymore.
Fixed a bug where the privacy screen in the mobile app would not show when switching apps. Also added a dark mode privacy screen.
Fixed a bug where some people were not able to upload Apple Card statements
Fixed a bug where the category name on the budget screen was not clickable to the category detail screen
The QR code for setting up multi-factor authentication now works in dark mode
Some deleted transactions were showing back up when syncing. They should stay deleted now.
Washington DC was missing from the list of states in user profiles. The US capitol has been restored.
Investment section on Mobile: This will have much of the same functionality that exists on web today.
Cash Flow Improvements: New options to filter cash flow by tag, account, category etc. Also will allow the graph to be grouped by different time intervals such as weekly or yearly.
Chart Downloads: Starting with investment graphs you will be able to 1-click download PNG images of any investment graph. Planning to expand to all charts across Monarch.
Transaction Review: A new system that will use the rules to mark transactions that need review using criteria such as merchant, amount, category, account etc.
Recurring Transactions: A new section in Monarch to view recurring transactions such as bills and subscriptions.
Sometimes you know exactly the amount you want to budget for a category: rent, mortgage, or even Netflix. Other times the budget is an approximation, you don’t know the exact dollar amount in advance: restaurants, groceries, or entertainment. For those approximate categories you can now turn them into rollover budgets. A rollover means that any budget left at the end of the month will carry forward into the next month. There are all sorts of use cases for this:
Non-monthly expenses: Seasonal categories like clothing (fall and spring), books or tuition (each semester), or kids activities (summer camp!) may have the bulk of their spending in a few months and little/no spending in others. By turning rollovers on you can either budget to save up for them by rolling over a surplus each month or pay them down by rolling over the deficit each month.
Yearly budget: Take your annual budget amount for the category and divide by 12. You can then track if you are over (negative rollover) or under (positive rollover) the average for the year each month. At the end of the year the rollover amount can be reset back to zero.
Sinking funds or short-term goals: Create a new custom category for a goal with a budget amount you wish to “save” each month. When you don’t spend in that category the remaining rollover amount keeps growing until you’re ready to spend it. This also works in reverse - if you create a new custom category for a goal and spend from it without saving you can pay it down by not spending in future months until it gets to zero.
We’ve redesigned our guest pass system to make it easier to share, and have introduced rewards as a thank you for sharing Monarch.
Earn $9.99 in credits for every paying user you refer: You’ll receive these credits automatically when someone you refer pays for Monarch, and there’s no limit to how many credits you can earn.
One unique link for your household: Each household now gets one unique link they can share anywhere, instead of having to generate a new link each time. Visit the referrals page now to copy your link or share it on social media.
People you invite get a 30-day trial: Our typical trial is currently 7 days, so this gives the people you refer an extended time to try out Monarch.
We’ll be giving out credits for past referrals: If you used the old guest pass system and someone you invited paid for Monarch, you’ll be receiving credits in the next few days.
Billing restrictions apply: We’re not able to offer credits to users that are billed through the App Store or Play Store due to those platform’s billing restrictions, but you can easily switch to web billing by following this help article. Once you switch, you’ll be eligible for credits.
Monarch now has a dark mode! You may have noticed it already depending on your system preferences. Check out Settings → Preferences → Visual Appearance to change Monarch from light to dark. You can also set it to “System Preference” if you prefer to have Monarch match the OS settings.
Fixed a bug where the Top income and Top expense category screens were missing from the monthly review
Fixed a few bugs with CSV formatting that prevented some people from importing Mint CSV’s
Added commas to a few places that were missing them when showing large numbers
Investments on Mobile: We’re currently building the investments feature on mobile, which will have all of the same functionality that exists on web today.
We’d like to thank everyone who voted for Monarch in Product Hunt’s yearly Golden Kitty award. Monarch was nominated for best new Fintech app and we made it to the final 4!
Tags can now be created and assigned to transactions. Pick your favorite color and apply as many tags as you'd like to organize your transactions. Monarch has some default tags for you to start with: tax, reimburse, split, business, subscription. There are also default tags for each member in your household to help organize joint vs individual transactions. You can edit or delete any of these default ones or create entirely new ones.
We plan to add tags to filters, rules and a bunch of other places in Monarch over the next few weeks so look out for them and start setting up your favorite tags!
We've seen a lot of people move from Mint to Monarch so we wanted to create an easy way to bring all your data with you. You can now import a Mint CSV with all the accounts and transactions exported from Mint. The default Mint categories are mapped to system categories in Monarch or if you've created custom categories those will be imported as well. Read more details about how to import from Mint here.
The CSV import can also be done for individual accounts so if your bank doesn't offer a connection to Monarch or you'd prefer to manage data manually you can import CSV's to an individual account. Read more about how to import an individual account CSV here.
There is a new flow for searching and adding accounts. Institutions are organized by type and search is much quicker while showing if there are reported outages.
iPad now shows a full 13 months of net worth now to take advantage of all that screen space.
The "apply" button was removed from the filter box on the Transactions page. Filters apply instantly now so they are even faster.
The blue banner at the top of the Plan page to "save changes" when making multiple edits was removed. Changes are now saved instantly which is much faster and safer if you forget to hit save before leaving the page.
You can now link a Coinbase account to Monarch on the mobile app
Rollovers - the development on this is nearly complete and we're just wrapping up testing so this should be released soon so you can setup rollovers for your 2022 budgets!
Roadmap - December marks the 1-year anniversary of Monarch launching (many of you may have signed up for the beta even earlier than that). Over the past year we've received tons of great ideas and many of the biggest features were driven by member feedback. We recently added a ton more ideas to the roadmap based on member suggestions. Check it out and vote/comment on things you'd like to see in Monarch to help us plan for 2022!
You can now connect your Coinbase account directly to Monarch on the web app (mobile is coming very soon). Click add account and Coinbase will be an option in the tiles of institutional logos you see. The connection is direct so its updated with real time prices every 2 minutes 24 hours a day.
In addition to seeing your account listed and included in your net worth there is also a new asset type called "Cryptocurrency" in the Investments section. All crypto coins will be classified as this new investment type across multiple accounts so you track all your crypto in one place even if you hold it in both traditional brokerages (ie Robinhood) as well as crypto brokerages (ie Coinbase).
We have future plans to add more crypto exchange support and other crypto specific features but would love to hear feedback on what crypto features you'd like to see next. Click the Feature Request link in the app to tell us more.
Accounts can be marked as "inactive" which will stop them from syncing new transactions and set the balance to $0. Inactive accounts keep all of their historical balances and transactions up until they were marked inactive so you can preserve your history but hide them from active use.
Accounts (and groups) can be now be manually sorted on the web. The order will be preserved across both the web and mobile app. Previously accounts were sorted by when they were added to Monarch with most recent at the top, and in a fixed grouping of assets and liabilities. With this update you can keep your favorite account right at the top.
Rules can be built off the original statement transaction text (previously you could only use the cleaned up merchant name text).
Rules can now be based on multiple categories, accounts or merchants instead of just 1 of each.
The connection to Zillow has been upgraded and now supports more addresses.
Bug fix - Clicking on a goal on the budget page now takes you to the details for that goal (the link didn't go anywhere previously).
Bug fix - Manual accounts were showing an incorrect "last updated" date.
Bug fix - The "Balance Adjustment" category incorrectly looked like it could be disabled so it's now more clear that it can't be. This category is used at a system level in manual accounts anytime the balance is changed since the balance is a sum of all transactions in the account.
Rollovers - we're continuing the work on rollovers and should have something released soon!
CSV Import - we're also building out a CSV import capability which will work for importing all your data from Mint. Or it can be used to to upload monthly statements to an individual account if your bank doesn't support syncing or you prefer to manage the data manually.
Tags - over the next few weeks we'll be releasing a tags capability to create tags, apply them to transactions and filter cash flow or reports using them.
Design improvements to the Plan section now make it easier to budget and forecast your money.
The "left to budget or save" number was moved from the bottom of the summary to the top of the page where its more prominently colored - green if you have income left to budget or save, grey if your budget is perfectly balanced, or red if you have more expenses than income planned.
The toggle to switch between the budget and forecast view is now more prominently centered at the top of the page on the website.
On the mobile apps you can now tap the "remaining" column to switch the numbers between "actuals" or "remaining" alongside the "planned" amounts.
On the website, when hovering over a category in your Plan a gear icon will appear which will let you change the icon & name or which group that category is a part of without having to leave the Plan section.
Version 1.0.47 of the iOS app released last week makes it a universal app which means the interface will natively support the iPad now. Previously you could run the iPhone app on an iPad but it ran as an iPhone app so it didn't take advantage of the larger screen and could not be rotated horizontally to portrait mode. We plan to add more iPad optimization to take advantage of all the extra space but this should be a big improvement for anyone looking to run the iOS app on an iPad.
New navigation on the mobile apps puts transactions in the middle of the main navigation and a new menu option lets you get to all the sections of Monarch
On web, there is a new dashboard card showing your prioritized advice items
You can now convert a manual real estate account into a synced account using Zillow in the mobile app (was previously only on the website)
On web, clicking into a "planned" amount in the Plan section the graph showing the average amount will exclude the current month which should make the averages more accurate
The new Data section launched on the website last month is now available in the mobile app for setting a start date for all balances or transactions
When signing in with a Google account your profile picture in Monarch will automatically populate with your Google profile photo
If you first signed up for Monarch using your Apple or Google account you can now disconnect them and set a password to make your Monarch account independent
Cryptocurrency - Our first connection for syncing crypto accounts will be Coinbase and it will also support any existing accounts that are already synced with Monarch and holding crypto (like Robinhood).
Rollovers - both historical remaining budgets and saving for non-monthly large expenses.
We're starting to scope out work on a CSV import capability that will let you take history from Mint (or anywhere else) and bring it over to Monarch.
There is a whole new section in Monarch (web only for now) called Advice. We've always felt that advice is a missing part of most personal finance apps so we're excited to offer this new type of feature. You can answer a few questions to start getting recommended advice and we plan to add more advice over time. Read more about our thoughts on financial advice on our blog.
You can now track the value of any property you have using Zillow. You can even convert an existing property you have in Monarch to a synced account and the value will be updated each month. Converting an existing property is live on web, and included in the next version of the mobile apps.
When connecting your accounts to Monarch for the first time your account may only provide transactions back for the past 1 month or up to 2 years. This can make it difficult if you have a ton of uncategorized transactions or want a good clean start date where everything is accurate going forward. This new settings page called Data allows you to set a start date for both transactions and account balances so you can get off to a fresh start.
Back in May we launched a beta section for Investments and after getting more feedback we've made a series of changes to make it even better:
The date picker now lets you go back much further in time, up to 3 years, so you can track your investments over the long term
The Nasdaq benchmark card was swapped for US Bonds so there is a wider variety for comparing your holdings against the overall market (S&P500), US Stocks, or US Bonds
The table showing holdings has been simplified to show the change over time, quantity, current price and total value
We have lots of future plans for making investments even better by adding features like asset allocation, time and money-weighted rates of return, fee analysis, and general portfolio risk vs reward (the efficient frontier)!
The mobile app now has many of the transaction filters that were only on web before (filter by amount, date range, hidden, splits, notes, attachments and merchants).
On web, we added a new dropdown menu on transactions so you can sort by amount (vs just date).
Fixed an issue in the mobile app where hidden accounts were being included in the account type sums. For example, if you had a hidden loan account, then the amount of the hidden loan would still be included in the sum of all your loans on the page. Note that this issue didn’t impact net worth calculations.
You can now invite household members using the mobile app (previously was web only).
Hidden accounts are now collapsed on the Accounts page.
Our customer success team can now provide links to other data providers if you have connection issues with your accounts.
We've started to build a solution to allow categories to rollover the remaining budget amounts. This should allow you to save for non-monthly expenses, large purchases like vacations, annual budgeting or just carry a remainder forward if you over or under spend a budget category.
We're putting the finishing touches on the ability to mark an account as "closed" or inactive which will allow you to hide it from the accounts view and stop syncing new transactions but retain all transactions and history.
Your plan allows you to track income, spending, savings, and goals together. Now we’ve made it even easier to see your past cash flow and your future plans in one view across months and years.
Changes you’ll notice:
New easier to use view of all months and years on the Forecast tab
View multiple months or multiple years together
View your expected monthly and annual savings based on your plan
Edit multiple months at a time, including adding in one off expenses, without leaving the page
We’re more than half way through 2021, ready to start dialing in your plan for next year?
Connect your Monarch account to your Apple ID or Google Account to simplify how you sign in to Monarch.
A highly requested feature, bulk editing transactions is now available in our mobile apps! You can select multiple transactions at once and edit them in one place. You can even hide multiple transactions straight from the Transactions page.
On the Investment Holdings page, we updated the time range shortcuts on the Investments pages to This Month, This Year, Last 3 Years.
We added a new weekly push notification to remind you to review your monthly progress. You can manage all your notifications from the Notification Settings page.
We fixed an issue where transaction notes were missing from the CSV when you exported transactions.
Research shows frequently checking in with your finances helps you stay in control. So, we’ve added a new monthly progress feature that gives you a quick way to see where you are in the month across your cash flow, plan, and net worth.
You can also view past months to see how you did at the end of the month.
A highly requested feature we've built bulk editing transactions, available first on the web, you can select multiple transactions at once and edit them in one place. You can even hide multiple transactions straight from the Transactions page.
On the Investments Performance page, we made the headers sortable so you can sort your holdings however you like.
On the web, we added a new Investments dashboard widget. Like all widgets, this can be rearranged on the page or hidden completely.
We added a new push notification for when a new Apple Card statement is ready for import.
We’re happy to announce that our investments feature is now live on Monarch!
Robust investment analysis has understandably been one of our most requested features. We’ve been working hard on this and are excited to finally share it with you.
Our investments feature allows you to:
Analyze your entire portfolio across multiple financial institutions and accounts
Understand your asset allocation across your entire portfolio (including across financial institutions and accounts)
See how your entire portfolio is performing against common industry indexes
Evaluate investment performance and returns at an institution, account, and holdings level.
Finally, we will be rolling out a number of improvements to our investments feature over time (including Crypto support!) so it’s only going to get better.
While we’re in beta, let us know if your investment information looks right and share feedback on what would make the feature better. The info you send will go straight to our product team so that we can immediately make improvements.
Now, you can visualize your spending at each merchant per week/month/year the same way you can for a spending category.
Improved net worth chart on mobile. Now you can easily see your broken down by types of assets and liabilities in the mobile app. Live on Android, and included in the next version of iOS.
Fixed a bug in the mobile app where we were incorrectly showing zero dollars remaining in a category as over budget with a red indicator. Live on Android, and included in the next version of iOS.
Fixed a bug with the CSV download where transactions were not sorted correctly.
Here's what we added to Monarch in April. Remember, we're building Monarch for you. You can always suggest or vote for features here. Please keep the suggestions coming!
Good news Apple Card users! You can now import your monthly Apple Card statements to Monarch.
No need to manually update your balance or transactions anymore. By importing your statement we'll add in all your transactions and automatically apply your rules. Note Apple Card import is only available within the iOS mobile app, see all the details in our Help Center.
You can now easily see your net worth broken down by types of assets and liabilities.
We've also added sparklines to the accounts page so you can see at glance how the balance of each account has changed over time.
Guest passes let you give away a free month of Monarch to your friends so start sharing now! They'll gain financial peace of mind, and when you share with 20 friends you'll get a special gift! 🎁
This is an exclusive feature only available to our paid members. 🙌 Find your Guest Passes on the web by clicking on your name, or in the mobile app by tapping on the user icon on the dashboard. See all the details about how guest passes work in our Help Center.
Digest Notifications. Now, when your bank account syncs, you'll receive a single notification with all the recent updates to your account instead of multiple notifications at once.
Wells Fargo MFA accounts are now supported! Add your account now.
Transaction notes are now searchable in the mobile app.
Another month of Monarch improvements, thanks to your feedback! Please keep suggesting and voting for features here. Keep the suggestions coming, we're building Monarch for you!
Choose how you want to view your information in Monarch. You can rearrange the widgets on web and mobile and even hide them completely. Web and mobile dashboards can be customized independently, so you can set the viewing experience you need.
Add any transaction to Monarch! This allows you to track valuables, bank accounts that won't sync, or simply to track cash-on-hand. Note, manual transactions are only available in manual accounts.
Now you can add / edit / delete your categories and groups directly from the mobile app the same way you do on web.
Organize your transactions in the moment by splitting them into multiple categories on the transaction's information tab. This is great for purchases at stores like Target, where you may buy a bunch of stuff that needs to be categorized separately.
Added Account Disconnected notifications to the Notification Center.
Added an icon to the mobile transaction list for transactions with notes
Planned goal contributions on mobile now support cents
Fixed a bug where tapping on a planned amount in the mobile app didn't select the entire amount ie your cursor might end up between the 1 and the 2 if the amount was 12.
Fixed a bug where attachments on pending transactions were being incorrectly removed
Fixed a bug where the cash flow page on mobile was incorrect if you had future transactions
You can now add attachments to transactions on web and mobile for quick access to details. Use notes and attachments together to stay organized.
The original transaction date is now visible on web and mobile. If you edit the date of a transaction, now you can still see the original transaction date from your bank.
Bug fixes and performance improvements
Thanks for your patience Android users! We're happy to announce that the wait is over and you can now install the Monarch Android App from the Google Play Store. Our Android app has the same functionality as our iOS app. Download it now and let us know what you think!
Transaction Rules are "If, Then" statements that apply to your past and future transactions so that you can customize their categorization. They were previously only available in our web app, but now we've added them to our mobile apps as well. Learn more about transaction rules here!
You can now add Transaction Notes to help you remember the specifics of any transaction.
Pro tip: You can add hashtags to the transaction notes field and then later find all tagged transactions using the search functionality. Some common examples are #reimbursable, #business_expense, or #donation.
Thanks for being an early Monarch supporter. You can keep an eye on what's coming next and vote for your favorites here.
Here's what we added to Monarch recently. Remember, we're building Monarch for you, you can always suggest or vote for features here. Please keep the suggestions coming!
We aim to update account balances and transactions at least every 24 hours. However, sometimes there may be a delay with a particular financial institution, or you want to see whether a recent transaction has cleared your account.
Well, good news! Now you can manually force a refresh for a particular financial institution. In our web app, simply view your account details page and click on the refresh icon. In our mobile app, visit the account details screen and pull down to initiate a refresh.
Learn more here: Force refresh your bank accounts
Now you can add another layer of security to your Monarch account by turning on multi-factor-authentication. To enable MFA, navigate to the Security under settings. Click "Enable MFA" and follow the prompts, and you'll be good to go!
Learn more here: Multi Factor Authentication
For new users, credit card payments will now automatically be treated as a transfer and included in the "Transfers" category group. This change will not apply to existing customers as we don't want to modify anybody's category taxonomy they may have already customized.
That said, if you're an existing customer you can easily modify this yourself so that your account behaves the same way. Simply go to the Manage Categories page, click on the Credit Card Payment category and choose Transfers in the Group menu. You can always customize your categories from this page.
We added more information about the connection status of an institution for disconnected accounts
We fixed a bug where cents were being ignored in Transaction Rules. For example, you can now properly create a rule to find all your transactions for $2.99 and categorize them.
We fixed a bug where it was possible to delete the Uncategorized category.
We fixed a bug where Goal contribution amounts were showing up incorrectly on the Forecast page.
We made some styling updates to the Forecast page (more coming soon!) to make it easier to read.
We have a lot planned for next year, thanks for being an early Monarch supporter. You can keep an eye on what's coming next and vote for your favorites here.
Big news! Monarch is now available on iOS. We've retired our old TestFlight app and published our newest version in the App Store. Download it now.
Let us do the math of how much you need to save to reach your goal. Contribute to your goals as your savings grow across your accounts. We'll adjust your plan as you go to help you stay on track. Learn more with with this help article.
Forecast your income, expenses and savings forward in the same view as your past actuals. See how cash flow changes over time as you add in expected income, expenses and goal contributions. Learn more with this help article.