FAQ

Alkemi reads transaction SMS messages from Indian banks directly on your device. When a debit or credit SMS arrives — from HDFC, SBI, ICICI, Axis, Kotak, or any major Indian bank — it parses the amount, merchant, and account using on-device pattern matching. It also captures notifications from UPI apps like Google Pay, PhonePe, Paytm, and BHIM. Everything is processed on-device with no data ever leaving your phone.

Alkemi parses SMS from 50+ Indian banks — HDFC Bank, SBI, ICICI Bank, Axis Bank, Kotak Mahindra, Yes Bank, Punjab National Bank, Bank of Baroda, Canara Bank, and more. For UPI and payment apps, it captures confirmations from Google Pay, PhonePe, Paytm, BHIM, Amazon Pay, and 30+ other apps. All parsed locally, nothing sent over the network.

Yes — every feature works in airplane mode. The app code makes zero network calls — no HTTP client, no analytics SDKs, no telemetry. Transaction parsing, storage, analytics, budgets, and backups all run entirely on your device.

Android's SMS broadcast system and NotificationListenerService give apps genuine, real-time access to transaction data without manual input. iOS doesn't expose these APIs. Alkemi is built specifically around Android's native architecture — it's a purpose-built Android expense tracker, not a cross-platform port.

Soon. The app is in its final pre-launch phase — core features are complete, we're polishing onboarding and reliability. Join the waitlist at usealkemi.in and you'll get a single email when it's live. No newsletters, no drip campaigns.

Yes. READ_SMS lets Alkemi scan your inbox for historical bank transactions locally. The app extracts amount, merchant, and account on-device, then discards the raw SMS text. The app code makes zero network calls — there is no code path that can transmit this data, not just a policy promise.

No. The app code makes zero network calls, so it cannot send your data anywhere. There are no ads, no analytics SDKs, and no data-transmitting third-party SDKs inside the app. There is no business model built on your financial data.

Export an encrypted backup (.alkemi file) at any time and store it wherever you choose — Google Drive, a USB drive, your laptop. When you get a new phone, restore with your password. No account or server needed. The backup is encrypted with XChaCha20-Poly1305.

No. Alkemi reads SMS messages only — it does not connect to your bank account, does not use screen scraping, and does not use the Account Aggregator framework. Your net banking credentials and bank login are never involved at any point.

Yes, entirely. Every feature — savings goals, debt tracking, spending analytics, encrypted backups, all 8 themes — is available to every user with no Pro tier, no subscription, and no ads. There are no limits and no unlocks. Alkemi is free because it has no cloud infrastructure to run.

Yes. Alkemi supports CSV import, so you can migrate transaction history from any expense tracker that exports to CSV — Money View, Walnut, or a direct bank statement export. You can also export your full Alkemi history as CSV at any time. Your data is always portable.

Yes. Alkemi scans 400 days of transaction history to surface recurring charges and detect cancellations. It detects cancellations across streaming, SaaS, and subscription services.Everything runs locally — no external API calls needed to identify your Netflix, Spotify, or other recurring payments.

Money View and Walnut use SMS parsing but require account creation and sync transaction data to cloud servers. Money View additionally offers credit products.

ET Money is primarily an investment platform — it tracks mutual funds and SIPs alongside expenses, requires an account, and offers a paid Pro tier.

Finart is the most similar to Alkemi: it uses SMS parsing on Android and is also available on iOS. Unlike Alkemi, Finart has internet access and offers optional Google Drive backup, meaning your data can leave your device if you choose.

Fold uses India's RBI-regulated Account Aggregator framework to connect directly to your bank accounts. It is cloud-connected by design and also tracks investments, net worth, and credit scores. Available on iOS and Android.

Alkemi is the only option in this group whose app code makes zero network calls, requires no account, and stores everything 100% on-device. The trade-off: Android-only, no investment tracking.

Finart also takes privacy seriously and doesn't require email or phone registration. The difference is architectural: Finart has internet access and can back up your data to Google Drive, which means your transaction data can leave your device. Alkemi's app code makes zero network calls — there is no code path that can transmit your financial data, period. If offline-only is important to you, Alkemi is the stronger guarantee. If iOS support or cloud backup matters more, Finart may be the better fit.

Fold connects to your bank accounts via the RBI-regulated Account Aggregator framework — you grant consent and Fold pulls your transactions from your bank directly. This makes setup seamless across all banks but means your data flows through Fold's servers. Alkemi works the opposite way: it reads SMS notifications that your bank already sends to your phone and processes them locally. No bank login, no AA consent, no cloud. Fold also tracks investments and net worth; Alkemi focuses on expense tracking only.