SoFlo360 Statements vs BankXLSX
Both convert bank statements to Excel and CSV. The difference is what happens after the conversion: we check the math for you and keep nothing, they ask you to check it yourself and store it if you don't opt out.
This page compares both products honestly, including where BankXLSX is ahead of us. If you convert a handful of statements a month and want a free, no-signup tool with a built-in accuracy check, keep reading. If you need bulk upload, an API, or a team seat today, BankXLSX's paid tiers already cover that and ours don't — yet.
The one-line difference
BankXLSX's own FAQ describes how you check your export: "You can preview the output and verify totals before exporting". That's a reasonable design for a tool built around bulk extraction, and it's honest about where the responsibility sits: it puts a human in the loop and trusts you to catch a bad extraction before it reaches your books. Ours puts the computer there instead: every statement we convert is summed and checked against the totals printed on the statement itself, automatically, before you ever see an export button. If the numbers don't match, we show you the exact dollar delta instead of a CSV that merely looks fine.
The practical effect is where the burden of proof sits. With a preview-and-verify workflow, catching a misread transaction or a dropped row means scrolling the export yourself and comparing it against the paper or PDF statement line by line — easy to skip when you're converting a dozen statements back to back at month-end. With automatic reconciliation, that comparison already happened before you saw the download button, and a mismatch is surfaced as a dollar figure instead of something you have to notice on your own. Neither approach is dishonest; they just put the checking step in a different place.
Feature comparison
Pulled from our own codebase and from bankxlsx.com's homepage and pricing page as published on July 7, 2026.
A quick key: ✅ means the feature is fully available, ⚠️ means it exists but with a caveat worth reading (a paid plan, a manual step), and ❌ means it isn't there today. Where BankXLSX doesn't advertise a feature at all — like Xero export — we say so in words instead of guessing with a symbol.
| Feature | SoFlo360 Statements (web, free) | BankXLSX |
|---|---|---|
| Automatic totals reconciliation on every statement | ✅ exact delta shown | ⚠️ manual — "preview and verify totals before exporting" (their FAQ) |
| Free tier without signup | ✅ no account, no email | ❌ register required ("Get Started Free" → /register) |
| Free tier allowance | 3 pages/day, resets daily | 15 pages TOTAL, 5 pages/extraction |
| Watermark on free exports | ✅ none | ❌ "Watermark in exports" (their Free Demo bullet) |
| QuickBooks (QBO) CSV export | ✅ on the free tier (3-col + 4-col) | ⚠️ Plus plan ($74/mo as advertised) and up |
| Xero CSV export | ✅ on the free tier | Not advertised on bankxlsx.com |
| Excel (XLSX) export | ✅ | ✅ |
| Scanned/photographed statements (OCR) | ✅ PDF, JPG, PNG | ✅ PDF, JPG, PNG, BMP, HEIC, TIFF |
| MT940 input | ❌ (on our backlog) | ✅ |
| Password-protected PDFs | ✅ password never stored or logged (see /security) | ✅ "Password Support" listed |
| Bulk upload | ❌ web app is one statement at a time today | ✅ up to 50 files (Plus) |
| Custom extraction templates | ❌ (templates are curated per-bank by us) | ✅ user-defined (Plus) |
| API access | ❌ | ✅ (Pro) |
| Multi-seat / team | ❌ single-user accounts, no seats | ✅ 3 seats (Plus) / 5 (Pro) |
| AI Smart Reports | ❌ web app converts, that's it | ✅ 5–20/mo by plan |
| Data retention default | Zero — file deleted at parse completion, results ≤60 min, deletion covered by automated tests | "never stored longer than needed", AES-256 at rest, "optional zero-retention", delete anytime |
Read across the rows and a pattern shows up: our free tier covers the day-to-day conversion job — statement in, reconciled Excel or CSV out, no account required — while BankXLSX's paid tiers cover the surrounding workflow: more input formats, more volume, more automation, and more people working from the same account.
Where BankXLSX is ahead
BankXLSX is ahead on input breadth (it also reads BMP, HEIC, TIFF, and MT940 files, which we don't yet), bulk upload of up to 50 files at once, custom user-defined extraction templates, API access, multi-seat team accounts, AI Smart Reports, and overall monthly page volume on its paid plans. If you convert hundreds of statements a month across a team today, their paid tiers do things we don't yet.
Each of those gaps points at a different kind of user. Bulk upload and API access matter once conversion becomes a pipeline rather than an occasional task — think a firm feeding statements into another system automatically, not someone converting one card statement before writing a check. Custom templates matter if your bank isn't one we've already built a parser for and you'd rather define the layout yourself than wait for us to add it. Seats and AI Smart Reports matter to a team that wants shared access and summarized output, not just a converted file. Our accounts are single-user — there's no team seat to buy — and for a team that's a real limitation, not a rounding error.
None of that is a knock against BankXLSX. If your workflow already needs those things, their paid plans are the more complete product today, full stop.
What happens to your file
BankXLSX's homepage describes a legitimate security posture: files are "never stored longer than needed," encrypted with AES-256 at rest, offered with "optional zero-retention," and deletable anytime. Retention there is a setting you can turn on, and the encryption and deletion controls it describes are real protections for whatever is stored in the meantime.
Ours is a different architecture rather than a stricter policy on the same one: your file never reaches durable storage in the first place. It lives in server memory and the OS temp folder only for as long as parsing takes, and the result you see is purged on a hard 60-minute limit no matter what — sooner if you click Clear, or 5 minutes after your first download. There's nothing to opt into and nothing to delete later, because nothing durable was ever kept. Our automated test suite checks that the files are actually gone at every stage, so it isn't a policy promise resting on trust — it's a passing test that runs on every release. See the full breakdown, including how we handle password-protected PDFs and why our servers scale to zero when idle, on our security page.
Pricing comparison
| SoFlo360 Statements | BankXLSX (as of July 2026) |
|---|---|
| Free: 3 pages/day, no signup. Starter $19/mo (400 pages), Pro $39/mo (1,200 pages), Accountant $59/mo (4,000 pages). One-time Starter Pack: $4.99 for 30 pages that never expire. | Starter $24/mo, Plus $74/mo, Pro higher (advertised as discounted from $49/$149), plus a limited free Demo tier. |
BankXLSX pricing as of July 2026, sourced from bankxlsx.com/pricing. Our pricing is current as published on our pricing page.
BankXLSX also offers a free Demo tier below Starter, but it's capped at 15 pages total rather than a recurring daily allowance, limited to 5 pages per extraction, requires registration, and watermarks its exports. Our free tier resets at 3 pages a day, needs no account, and never watermarks anything.
On the paid side, entry pricing favors us ($19 vs $24) and our billing terms are deliberately simple: cancel in one click from the billing portal, no reactivation fees, unused subscription pages roll over one month, and pack pages never expire. Whether that beats BankXLSX for you still depends on the feature table above — their higher tiers include volume and team features our plans don't.
The verdict
Pick BankXLSX if you need bulk uploads, custom templates, an API, team seats, MT940 input, or more than a few pages a day — its paid plans are built for that volume today, and its free Demo tier reads a wider range of image formats than we do. Pick SoFlo360 Statements if you want a free tool with no signup, no watermark, native QuickBooks and Xero CSVs on the free tier, and a reconciliation check that catches conversion errors before you ever download a file. Plenty of bookkeepers and small business owners will find both useful for different jobs — a quick, one-off conversion here, and a higher-volume, multi-seat workflow there once you outgrow a single free tier.
Last updated July 11, 2026. This page is written by SoFlo360, the maker of one of the two products compared here. Feature and pricing details for BankXLSX were sourced from bankxlsx.com and bankxlsx.com/pricing as published on July 7, 2026 and are subject to change — verify current details directly with BankXLSX before making a decision.