MemoryBank vs. Monarch

Monarch and MemoryBank both pull accounts from many institutions into one place, which is why parents ask whether Monarch can cover the kids’ accounts as well. Monarch is a household money app for adults: budgeting, transactions, net worth and investments, shared with a partner. MemoryBank does one narrower thing: it shows each child the accounts that are theirs and explains them at their age.

MemoryBank is

A read-only kids’ investment dashboard. You connect the UTMA, 529, custodial Roth IRA, Trump Account or savings account you already have at your brokerage, state plan or bank, and assign each one to a child. Each child gets their own view of what they own and how it’s growing, with Penny, an AI money mentor, explaining it at their age. Nothing can be bought, sold or spent inside it.

Monarch is

A paid personal finance app with no ads. Monarch brings bank accounts, credit cards, loans, real estate and investments into one view, with AI transaction categories, budgets, recurring bills, reports, goals and a customizable dashboard. It connects to 13,000+ institutions through several data providers, and you can invite a partner or financial professional at no extra cost.

Side by side

	MemoryBank	Monarch
The main job	Show each child the real accounts their family opened for them, and teach them what they own.	Help adults track, budget and plan their household money in one place.
Who looks at it	Parents set it up; each child gets their own view on a phone, tablet or wall display, without a login of their own.	You, plus a partner or financial professional you invite. Its site does not describe a view for children.
Organized by child	Yes. Every account is assigned to a child, with a total and holdings for each one.	Accounts roll up into the household’s net worth, which you can filter in reports.
Accounts it shows	UTMA/UGMA, 529, custodial Roth IRA, Trump Account, brokerage and savings accounts at 10,000+ institutions through Plaid, including Schwab, Fidelity and Vanguard. Unlinkable accounts can be entered manually.	Bank accounts, credit cards, loans, investments (stocks, mutual funds, 401(k)s, ETFs, crypto), real estate through Zillow Zestimates, and manual accounts.
Budgeting	No. MemoryBank does not track spending.	Yes: budgets, categorized transactions, recurring bills and subscriptions, cash flow reports.
Financial literacy for kids	Penny answers questions at your child’s age level (5 to 18+), every holding gets a plain-English story, a weekly recap teaches one money word at a time, plus 90+ free parent guides.	Not part of its feature list; Monarch’s content and tools are written for adults.
Ads	None.	None.
Price	Free to start (up to 3 kids). Starter $6.99/mo (up to 3 kids, 3 linked accounts), Family $9.99/mo (up to 10 kids, 10 linked accounts). About two months free on annual billing.	Core $99.99 a year or $14.99 a month; Plus $199.99 a year. A 7-day free trial and a money-back guarantee.

The main job

MemoryBank

Show each child the real accounts their family opened for them, and teach them what they own.

Monarch

Help adults track, budget and plan their household money in one place.

Who looks at it

MemoryBank

Parents set it up; each child gets their own view on a phone, tablet or wall display, without a login of their own.

Monarch

You, plus a partner or financial professional you invite. Its site does not describe a view for children.

Organized by child

MemoryBank

Yes. Every account is assigned to a child, with a total and holdings for each one.

Monarch

Accounts roll up into the household’s net worth, which you can filter in reports.

Accounts it shows

MemoryBank

UTMA/UGMA, 529, custodial Roth IRA, Trump Account, brokerage and savings accounts at 10,000+ institutions through Plaid, including Schwab, Fidelity and Vanguard. Unlinkable accounts can be entered manually.

Monarch

Bank accounts, credit cards, loans, investments (stocks, mutual funds, 401(k)s, ETFs, crypto), real estate through Zillow Zestimates, and manual accounts.

Budgeting

MemoryBank

No. MemoryBank does not track spending.

Monarch

Yes: budgets, categorized transactions, recurring bills and subscriptions, cash flow reports.

Financial literacy for kids

MemoryBank

Penny answers questions at your child’s age level (5 to 18+), every holding gets a plain-English story, a weekly recap teaches one money word at a time, plus 90+ free parent guides.

Monarch

Not part of its feature list; Monarch’s content and tools are written for adults.

Ads

MemoryBank

None.

Monarch

None.

Price

MemoryBank

Free to start (up to 3 kids). Starter $6.99/mo (up to 3 kids, 3 linked accounts), Family $9.99/mo (up to 10 kids, 10 linked accounts). About two months free on annual billing.

Monarch

Core $99.99 a year or $14.99 a month; Plus $199.99 a year. A 7-day free trial and a money-back guarantee.

Monarch details are as described on Monarch's own website and help center in November 2026and can change; confirm current prices and features there before deciding. MemoryBank isn't affiliated with Monarch. Sources: Monarch pricing, Monarch tracking and investments, Monarch home page.

Which one fits your family

Choose Monarch if

You want to budget and track spending for the whole household.
You and a partner want to manage money together in one shared view.
You want your net worth, including real estate and loans, in one place.

Choose MemoryBank if

You want your kids to see their own accounts, not your household finances.
You have more than one child and want each one’s accounts kept separate, with their own total.
You want the accounts explained to a child at their age, by Penny or in plain-English holding stories.
You want a screen your child can check on their own, with nothing to spend or trade.

They fit side by side. Monarch stays the parents’ budget and household picture; MemoryBank takes the accounts that belong to each child and shows them to that child, in words a child understands.

Common questions

Can I track my kids’ accounts in Monarch?

You can connect a child’s brokerage or 529 to Monarch, and it becomes part of your household net worth. Monarch’s site doesn’t describe a view organized by child or one a child can use. MemoryBank is built for that: each child’s accounts in their own view, explained at their age.

Is MemoryBank a Monarch alternative?

Not for budgeting or household finances. MemoryBank only shows the accounts you assign to your kids, and it’s meant to be seen by them.

How much does Monarch cost?

As of November 2026, Monarch Core is $99.99 a year or $14.99 a month, and Plus is $199.99 a year, after a 7-day free trial. MemoryBank is free to start, with paid plans at $6.99 or $9.99 a month. Check each site for current terms.

Can my child see my other accounts in MemoryBank?

No. A child’s view only shows the accounts you assign to that child. Your own accounts never need to be connected.

Their money is growing. Let them see it.

Free to start. Connect the accounts you already have and give your kid their own view.

Try MemoryBank free See every feature

MemoryBank is not a brokerage. It cannot receive, keep or transfer securities, and it never holds your money.