MoneyWell was once a great app for managing your finances and keeping track of your accounts on the Mac. However, it was abandoned for many years. It’s making a comeback on Mac App Store. The major update shifts into a whole new realm: data synchronization has returned on an iCloud-based basis, and, most importantly for its creators, a subscription business model.
MoneyWell has been offering data synchronization for years. But the app has suffered from its age, and especially the lack of maintenance for many years. It relied on a Dropbox feature which was long gone. This meant that syncing wasn’t possible. It is finally back after many years of waiting. However, it must be noted that it is starting all over again on a completely new basis.
MoneyWell now uses iCloud’s sync features to share its data across all devices. This causes several changes, including the removal of files that were used previously by the app. It is a database that stores the information, and it is Apple’s CloudKit which is used to synchronize it. Syncing is limited to a single iCloud account. It is not possible to share data with other accounts. The developers have added a new method for importing data from banks and sharing.
This new mechanism is only available to North American banks. However, it may be extended if there is demand. MoneyWell is not a winner because it is only offered in English and is primarily designed for the Anglo-Saxon market. The app is available on the iPhone and iPad, so an iPad version should be possible.
MoneyWell now operates on a subscription model without the option to purchase a final license. Count €6.49 per month or €51.99 per year, knowing that the subscription works on the Mac as well as the iPhone. The editor mentions that sales have not been sufficient to fund the full-time development of the app. An introductory offer of only ten Euros per year is offered to encourage long-time customers to switch.
MoneyWell can be downloaded for free and used for as many transactions as you like. However, you will be limited to 200 transactions. The app requires iOS 14 and macOS 11.1. The interface is only available in English.