{
  "slug": "monarch",
  "category": "budgeting",
  "name": "Monarch",
  "description": "Subscription personal finance app that syncs bank and investment accounts to track spending, budgets, net worth and goals, with shared access for households.",
  "website": "https://www.monarch.com",
  "license": null,
  "platforms": [
    "android",
    "ios",
    "web"
  ],
  "jurisdiction": {
    "code": "US",
    "name": "United States",
    "eyes": "Five Eyes",
    "eu": false,
    "gdpr": false,
    "cloud_act": "provider"
  },
  "pick": false,
  "pick_reason": null,
  "disclosure": null,
  "grade": "F",
  "score": 20,
  "coverage": 100,
  "summary": "Monarch scores 20 out of 100 (grade F) on the budgeting criteria. It partly meets no ads or data sales and independent audit. It does not meet open source and no trackers or telemetry. It is based in the United States: Five Eyes member; subject to the US CLOUD Act.",
  "url": "https://privacyratings.com/budgeting/monarch/",
  "markdown": "https://privacyratings.com/budgeting/monarch/index.md",
  "answers": {
    "open_source": {
      "title": "Open source",
      "weight": 3,
      "answer": "no",
      "evidence": null,
      "note": "Closed source."
    },
    "no_trackers": {
      "title": "No trackers or telemetry",
      "weight": 3,
      "answer": "no",
      "evidence": "https://reports.exodus-privacy.eu.org/en/reports/com.monarchmoney.mobile/latest/",
      "note": "The Exodus report finds 10 trackers in the Android app, including Amplitude, Facebook Analytics, FullStory, Segment and Singular."
    },
    "no_ads": {
      "title": "No ads or data sales",
      "weight": 2,
      "answer": "partial",
      "evidence": "https://www.monarch.com/privacy",
      "note": "Funded by subscriptions and says financial data is never sold, but the privacy policy says advertising partners receive device, IP and web analytics data for targeted advertising."
    },
    "independent_audit": {
      "title": "Independent audit",
      "weight": 2,
      "answer": "partial",
      "evidence": "https://www.monarch.com/security",
      "note": "States independent auditors verified its SOC 2 compliance, but the report is not public."
    },
    "transparency_report": {
      "title": "Transparency report",
      "weight": 2,
      "answer": "n/a",
      "evidence": null,
      "note": "Only applies to hosted services with a website to test."
    },
    "user_notice": {
      "title": "Tells users about requests",
      "weight": 1,
      "answer": "n/a",
      "evidence": null,
      "note": "Only applies to hosted services with a website to test."
    },
    "tls": {
      "title": "TLS configuration",
      "weight": 2,
      "answer": "n/a",
      "evidence": null,
      "note": "Only applies to hosted services with a website to test."
    },
    "security_headers": {
      "title": "Security headers",
      "weight": 1,
      "answer": "n/a",
      "evidence": null,
      "note": "Only applies to hosted services with a website to test."
    },
    "web_standards": {
      "title": "Modern web standards",
      "weight": 1,
      "answer": "n/a",
      "evidence": null,
      "note": "Only applies to hosted services with a website to test."
    }
  },
  "tests": {
    "ssllabs": null,
    "observatory": null,
    "internetnl_web": null,
    "internetnl_mail": null,
    "trackers": [],
    "tested_at": "2026-10-01T06:59:54.124Z"
  },
  "last_modified": "2026-10-01T07:44:20Z"
}