Public benchmark
Bank-statement converter accuracy benchmark
Head-to-head accuracy of the top PDF-to-accounting-tool converters on 240 real, anonymised bank statements across 24 banks. Reproducible methodology below. We publish this because nobody else in the category will.
Snapshot: 2026-07-09 · Auto-refreshed monthly · API access
| Vendor | Txn accuracy | Balance match | Header extract | Latency (20pp) | Tally | Zoho | QBO | Xero | IIF | Free tier |
|---|---|---|---|---|---|---|---|---|---|---|
| BankToBooks | 98.7% | 96.2% | 97.9% | 6s | 5 / month | |||||
| BankStatementConverter | 96.4% | 89.1% | 92.0% | 8s | 3 pages trial | |||||
| DocuClipper | 97.1% | 91.4% | 94.2% | 10s | 14-day trial | |||||
| MoneyThumb | 97.8% | 93.6% | 95.1% | 12s | paid only | |||||
| Nanonets | 94.9% | 82.7% | 88.3% | 14s | trial credits |
Test set
240 statements
Real, anonymised PDFs sourced from customers across IN, US, UK, ZA, AE, AU. Personal + business + credit card.
Banks covered
24 banks
HDFC, ICICI, SBI, Axis, Chase, BofA, HSBC UK, Barclays, FNB, Emirates NBD, DBS, CommBank & more.
Ground truth
Hand-labelled
Every transaction date + amount verified against the source PDF. Balance reconciliation checked line-by-line.
Methodology
- Identical PDF uploaded to each vendor via their standard flow (web upload or API, whichever is default).
- Output normalised to
{ date, description, amount, balance }and diffed against hand-labelled ground truth. - Txn accuracy = correct date AND correct signed amount AND correct description substring.
- Balance match = closing balance in output matches PDF closing balance to 2dp.
- Header extract = period-from, period-to, opening & closing balance all present.
- Latency measured wall-clock from upload complete to first downloadable result. Median of 3 runs.
- Format checks: does the vendor produce a native import file for that accounting tool without further transformation.
Want to reproduce the run? Email benchmark@banktobooks.com — we'll share the anonymised PDFs and label set under NDA.
Where we lead
- Highest txn accuracy on the mixed India + emerging-markets set (formats other vendors don't template).
- Best closing-balance reconciliation rate — driven by our validation step during parsing.
- Only vendor with native Tally + Zoho + QBO + Xero + IIF exports in a single flow.
Where we're still catching up
- Raw bank-template count vs BankStatementConverter.com — we're shipping 200+ more per quarter.
- MoneyThumb still edges us on niche US credit-union statement layouts.
- DocuClipper has deeper Sage 50 direct-integration polish (we ship CSV; they ship API).
Test us on your own statement.
Free tier: 5 statements/month. No credit card. No lock-in.
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