Data Molino Alternative: A Faster, Cheaper Way to Convert Bank Statements

If you searched for a "Data Molino alternative," bank statements are probably a regular part of your work. You may be an accountant, a bookkeeper, or someone reconstructing financial records for a client. You need clean transaction data out of a PDF, and you'd rather not pay for a full document-processing suite to get it.

Datamolino (often written "Data Molino") is a capable product. This guide covers what it does well, where it may be more than you need, and how Data River works as a focused alternative for bank statements.

What Datamolino does well

Datamolino is a broad bookkeeping automation platform. It extracts data from bills, receipts, sales invoices and bank statements, and exports to Xero, QuickBooks Online and other ERP software that accepts CSV or Excel. Every plan includes unlimited users, and it checks that statement transactions add up to the closing balance and fall within the statement's date range.

If your main need is processing supplier invoices and receipts, with bank statements as a side job, that breadth is a real advantage.

Why people look for a Data Molino alternative

Reasons vary, but three come up most often for people who only need bank statements converted.

1. Per-sheet pricing on top of a subscription. Datamolino's model is built around documents. Bank statement extraction is available on every plan, but an additional charge applies, at $0.80 per bank statement sheet. Unused documents also don't roll over to the next month. For a firm converting hundreds of multi-page statements a month, the per-sheet fee is usually the biggest line item.

2. Turnaround time on scanned statements. Extraction of scanned statements typically takes up to 24 hours on business days, and is faster for digital PDFs. That's fine for a monthly close. It's less convenient when a client sends a folder of statements and you want to start working immediately.

3. A full platform when you only need one feature. If you already have a workflow for invoices and receipts, or you don't process them at all, you may not want to pay for and learn a whole suite to do one job.

Meet Data River: a focused bank statement converter

Data River does one thing: it converts PDF bank statements into structured data you can use straight away. Upload a PDF, then download CSV, Excel, or Google Sheets in seconds.

It was built for accountants, bookkeepers and finance teams who work with statements every day, including reconstructing records for tax and BAS reconciliation.

• Speed. Upload, convert and download before your coffee cools. One bookkeeper describes going from about 20 minutes of reformatting a single statement for Xero to about 8 seconds.
• Wide bank coverage. Data River works with statements from 4,200 banks and credit unions.
• Flat, predictable pricing. Plans are based on files converted per month. One conversion is one file, however many pages it has.
• Multiple export formats. Excel, CSV and Google Sheets all come from the same upload.
• Privacy. Your uploaded data is deleted immediately, and customer data is never used to train AI models.
• Bespoke service for high volumes. If you're handling hundreds of statements, you can contact the team about a tailored arrangement.

Data River vs Datamolino at a glance

What bank statement conversion actually costs

Datamolino charges for bank statements per sheet. Data River charges per file, and a multi-page statement is still one conversion.

Here's what that looks like at a few volumes, assuming an average statement runs 3 sheets:

Even for a single-sheet statement, Data River works out to about $0.01–$0.03 per file against $0.80 per sheet, which is roughly 25 times cheaper or more. The Datamolino figures are a floor, because they exclude its base subscription. If you're reconstructing a year of records for a tax return, a 12-month run of multi-page statements is exactly where per-sheet pricing adds up.

Data River pricing

• Free: $0. 5 conversions per day.
• Starter: $12/month. 450 conversions per month.
• Pro: $35/month. 1,100 conversions per month, with a priority queue and priority support.
• Business: $60/month. 4,200 conversions per month, for firms handling many clients, with a priority queue and priority support.

Every plan converts to CSV, Excel or Google Sheets.

Which should you choose?

Choose Datamolino if you want one platform for invoices, receipts and bank statements, and you rely on its accounting integrations.

Choose Data River if bank statements are the job. That includes tax season, client onboarding, reconstructing records for the ATO or the IRS, and monthly reconciliation. You get a fast, focused tool with straightforward pricing and no extra features to configure.

You don't have to commit to find out. Data River's free plan lets you convert a few statements and compare the output with whatever you use today.

Frequently asked questions

Is Datamolino the same as Data Molino? Yes. The company writes its name as one word, "Datamolino," but many people search for it as "Data Molino."

What is the best Datamolino alternative for bank statements? It depends on what you need. If you only convert bank statements and want predictable, low-cost pricing and fast turnaround, Data River is built for that. If you also need invoice and receipt capture, a broader platform may fit better.

Does Data River charge per page? No. Data River counts one conversion per file, regardless of how many pages the statement has.

Which banks does Data River support? Data River works with statements from 4,200 banks and credit unions.

What formats can I export to? CSV, Excel, and Google Sheets.

Is there a free plan? Yes. The free plan includes 5 conversions per day.

Is my data kept after conversion? No. Your data is deleted immediately, and it is never used to train AI models.

Try Data River free

Upload one of your own statements at datariver.co and see how it handles it. Sign up for the free plan, and check the pricing page if you're processing higher volumes.

Datamolino details are based on its public pricing and feature pages as of September 2026 and may change.