Monarch Money is polished, but it requires linking your bank accounts. Here's what that means for privacy.
What Monarch Accesses
When you link accounts, Monarch sees:
- All transaction history
- Account balances
- Investment holdings
- Merchant names and categories
- Your spending patterns
How Bank Linking Works
Monarch uses Plaid or similar services. Your credentials pass through third parties. Even with encryption, that's a lot of trust.
The Risk Equation
- Data breaches happen (Plaid has been sued)
- Terms of service change
- Companies get acquired
- Data can be subpoenaed
Privacy-First Alternative
Pocket Clear never sees your financial data:
- No bank linking
- No account credentials
- Data stored on your device
- Optional encrypted cloud backup (Pro)
The Trade-off
Manual entry vs. automatic sync. 30 seconds per transaction vs. complete privacy. Your choice.
Start Tracking Together
Download Pocket Clear free. Simple expense tracking for couples and expats.