Short answer
Bank sync pulls transactions automatically but needs access to your bank and can break quietly. Manual entry needs no bank link and makes you notice every purchase, but depends on habit. Statement file import sits in between: a weekly CSV, OFX or QFX upload with no credentials shared. Finman supports all three.
The three methods side by side
| Bank sync | File import | Manual entry | |
|---|---|---|---|
| Effort | Lowest after setup | A few minutes a week | Every purchase |
| What you share | Bank access via an aggregator or the bank’s API | Only the file you choose to upload | Only what you type |
| Completeness | High while the feed works | High for the period you import | As good as your habit |
| Awareness | Low: transactions arrive unseen | Medium: you review a batch | High: you see every item |
| Typical failure | Feed breaks quietly, duplicates after re-linking | A week skipped, then a bigger batch | Gaps after a busy week |
| In Finman | monobank, via a personal API token | CSV, OFX or QFX from RBC, TD, Scotiabank, BMO, CIBC, Tangerine, Wealthsimple Cash, EQ Bank, Revolut, Wise | Always available, also offline |
Bank sync: low effort, quiet failures
Sync connects the app to your bank, directly through the bank’s API or through an aggregation service, and pulls transactions on its own. The upside is real: little effort, hard to forget, and it catches small charges you would never type.
The costs are just as real. Coverage depends on country and bank. Feeds can lag, duplicate after a re-link or break after a bank security change, and pending charges make a category look fine on the 14th and over budget on the 16th. The worst part is false confidence: the dashboard looks complete, so you stop checking.
In Finman, the direct connection is monobank: you add a personal API token, and Finman stores it encrypted so the connection keeps working. Other banks are handled through files.
Manual entry: full control, built-in pause
Typing or confirming a purchase creates a moment of attention at the point of spending, which automated feeds remove along with the effort. That small pause is why many people who track by hand spend more carefully. The risk is behavioural: skip a busy week and the gap is obvious, and the temptation is to quit. Catching up takes one statement import.
Finman keeps the friction low. It runs in the phone’s browser, transactions entered offline are kept on the device and sync when the connection returns, and a receipt photo fills in the merchant, total and date for you to check. With the AI features on, an OpenAI GPT model also reads the line items and suggests a category; otherwise text recognition on Finman’s server reads the merchant, total and date. More in manual budgeting apps and offline budgeting apps.
File import: the underrated middle
Download a statement from online banking and load a whole period at once. You get near-complete coverage without handing credentials to anyone and without a live feed that can break. For privacy-minded people it is often the best fit: the bank never connects to the app and you decide what is shared and when. The formats and steps are in how to import bank statements.
- Your choiceSync, file or typingmonobank token, CSV/OFX/QFX upload, or manual entry
- RecordedOne set of transactionsSame accounts and history, whatever the source
- CalculatedCategories and recurring chargesMerchant code or keywords, your rules on top; repeating charges detected
- ForecastBudgets, forecast, AI CFOBalance up to 90 days ahead; answers from your own data
Imported transactions get a category from the merchant category code (monobank statements carry one) or from keywords in the description, in English, Ukrainian and Russian. Set a rule once and one Apply rules click sorts every matching expense left in Other; how transaction categorization works covers the details.
Start with one statement file
Upload a CSV, OFX or QFX file from your bank, or enter a week by hand, and see the dashboard work. Free during the open beta.
Try it freeCompleteness and awareness pull in different directions
Sync optimises for completeness: nothing is missed. Manual entry optimises for awareness: every item was seen. If your problem is “I do not know where my money goes”, completeness helps. If it is “I know where it goes and keep doing it”, the friction of recording each purchase is the treatment. Pick the method that targets your actual problem.
The hybrid most people should run
- 01High-volume accounts by import or sync. The main card and checking account, where forgetting is costly.
- 02Discretionary spending by hand. Eating out, shopping, the category you want to watch. Enter or photograph each item.
- 03A weekly 10-minute routine. Upload the week’s file, fix categories, look at the budget pace and the forecast.
- 04Move along the spectrum as life changes. Same accounts, same history; only the way transactions arrive changes.
If you would rather keep bank credentials out of every app, budgeting apps without a bank login and privacy-focused finance apps go further. If you are weighing an app against a spreadsheet at all, see spreadsheet vs budgeting app.
Frequently asked questions
Is bank sync or manual entry better for budgeting?
It depends on your problem. Bank sync is low-effort and complete but needs bank access and can break quietly. Manual entry needs no bank link and builds awareness but depends on habit. File import of bank statements sits in between, and most people do well with a hybrid.
Can I use Finman without connecting my bank?
Yes. Upload CSV, OFX or QFX files from online banking or enter transactions by hand; every feature works on that data. Connecting monobank with a personal API token is optional.
Which banks can I import into Finman?
Finman imports CSV, OFX or QFX statement files from RBC Royal Bank, TD Canada Trust, Scotiabank, BMO, CIBC, Tangerine, Wealthsimple Cash, EQ Bank, Revolut and Wise. monobank connects directly with a personal API token.
Is manual budgeting too much work?
Less than its reputation. Statement import covers a whole period at once, receipt photos fill in the merchant, total and date, and offline entry syncs later. Keeping only discretionary spending manual cuts the effort further.
Does Finman work offline?
Yes for entering transactions. Finman runs in the browser on Android, iPhone and desktop; transactions entered offline are kept on the device and sync when the connection returns.
No bank link required to start
Import a statement file or enter a week by hand. Free during the open beta, no card.
Get started free