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iBank is a new standard for Mac money management.

With its intuitive user interface and a full set of money management features, iBank 5 is the most complete software available for Mac personal finance. iBank 5 lets you enter and edit your transactions with ease, pay bills online and on time, download your online account data, reconcile your statements, and track your investments with versatile and robust tools.

In iBank, it's simple to split, schedule or categorize transactions. With a couple of clicks, you'll be able to create powerful, dynamic reports using iBank's flexible templates (Income and Expense, Net more...

What's New

Version 5.1.1:

Bugs fixed:

  • Chase Bank direct download returns Code=2000 "[ofx.validationException]null"
  • Prompt to unlink or delete a transfer appears before saving a new transaction
  • No interest rate on loan using scheduled transactions causes iBank to crash
  • Deleting a transaction badged NEW doesn't decrement account badge
  • more...

Requirements

  • OS X 10.8 or later

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iBank User Discussion

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from Just-Mac

They are coming out with iBank 5, and still no option to have single-line registers (like a normal spreadsheet), what a shame!

I make a point to spell it out here, because it is a strongly negative point which is rarely mentioned.
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5 people found this review helpful
Version 4.7.5
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Meister-Fritz Member IconReview+17
Meister-Fritz
+0

I would like to address support because it is OUTSTANDING. For example, I didn't quite grasp how to incorporate two checking accounts in one file and, therefore, I contacted support. The response was fast and suggested that I engage in an online chat. I did so and the technician took control of my iMac and made the changes as I looked on and interacted. The end results were PERFECT! Superior support!

Reply0 replies
Version 5.1.1
Offline Member IconReview+93
Offline
+2

There's not much available on the Mac for personal banking and investments. I started using iBank in v3, I think, upgraded to v4 and again to v5.

V4 was OK. V5 has serious problems.

Their imported transactions did not match the bank's transactions. One transaction's details (amount, vendor, account number) was randomly switched with another several times in the same batch.

They claimed it was not their fault as they were using someone else's software (to access the bank and process the batch?).

Inexcusable!

This would have been discovered with adequate testing.

I spent several hours with their support - on a shared screen - logging into my bank, examining the transactions on screen, loading them into iBank, and seeing incorrect data.

Even though the support person acknowledge I was not the first to report the problem, he said he needed the transaction data in order to resolve the problem.

I had been told several times before this that the problem had been solved.

I never heard from them (Igg Software) regarding a fix and they have never publicly acknowledged their accounting software consistently gave incorrect results.

Doing so would be difficult for them, that's understandable, but would alert their customer base that the numbers may not be trustworthy.

People who used / are using iBank 5 have a right to be able to expect their transactions processed correctly.

This is accounting software. It's not hard. It's not new. I was part of a team that wrote a system for a bank in COBOL in 1985, so I have a little background in this.

Reply0 replies
Version 5.1.1
Rezstudios Member IconComment+45
Rezstudios
+2

Why is SEE Finance constantly removed from the above "Similar Software" listing? SEE Finance is much more robust than iBank and should be evaluated before deciding which finance software to use on your mac. Both iBank 5 and SEE Finance have their pro and cons. I like the aesthetics of iBank and its drill-down reporting, but I can't stand how it chokes on trying to import my QIF file when I try to test it with my actual data. I've tried to move my data over for testing into iBank many times with each major version that comes out, but it always either fails to import, stalls, crashes or makes a mess of my data. This same 15MB QIF file imports without a problem to SEE Finance. I also prefer how SEE Finance implements time saving features like shift-selecting and command-clicking multiple transactions then batch changing things like their Category with a simple right-click (or control-click.) I remember spending hours making such changes to my data in Quicken 2007 which did not allow such easy batch changes. I also like that you can merge Categories in the Category list in SEE Finance, making prep work for tax time much easier. Have two separate categories, one "Health-Insurance" and another "Insurance - Health"? No worries, just merge them and assign the proper tax link in SEE Finance and your transactions update to the proper category. I'm still waiting for my QIF file to import into the newest version of iBank (5.1) to see if it allows these functions... it's been more than 90 minutes so far. If only SEE Finance had the drill-down reporting of iBank, then all my needs for the perfect finance software would be met.

Reply0 replies
Version 5.1
T_43289543 Member IconReview+2
T_43289543
+2

the following is a copy of an email sent to IGG:
i was a very long term Quicken user. i mean really long term, since the days of DOS. after switching to Mac in 2007, & after deciding to ditch the Parallels virtual Windows OS so i could use my trusty windows version of Quicken, i picked up the mac version of quicken. what an utter disappointment that was. so i started looking around & finally decided to try iBank.... version 3 i think.

iBank 3 worked much better than quicken mac, especially initially. i could get to my bank account in the program, download transactions directly, etc etc. then my bank changed the way they did things online & iBank became a bit tedious to use.... but that wasn't iBank's fault.

upgrade to version 4 was good & my work arounds for my bank's protocols became easier & faster. iBank 4 was so nice to work with that i decided to add all my credit card accounts to iBank & that worked quite well, having all records ''under one roof'', so to speak.

i upgraded my mac to Mavericks & then decided to upgrade to iBank 5.

this brings me to the point of this email.

iBank 5 is a very outstanding upgrade. i had been away for nearly a month & dreaded the chore of having to download all my bank & credit card transactions for a whole month. when i started up iBank 5, i was amazed to see all my credit card accounts automatically download & update on their own. [i had seen that before but had ''forgotten'' that it did so during the time i was away.also NOTE: this is NOT via Direct Connect, i don't pay for the Direct Connect feature.] i cannot set up our local bank for that automatic web connect, so i downloaded the month's worth of transactions from our 5 checking & savings accounts.

when i went to import the download, i was delighted to see iBank break out the different accounts & ask me where i wanted the data sets to go. doing the same using iBank 4 in the past, i had, on a number of occasions, put the wrong data into the wrong accounts by not paying close enough attention. that would take a while to sort out.

iBank is not perfect yet, [i'd like some more control over the memorized transactions set up, as well as some other minor irritations], but it is a great program that seems to be getting better all the time. keep up the good work.

best regards from a VERY satisfied customer,

Reply1 reply
Version 5.0.4
Pik80
+0

I wonder why some people are saying you have to pay to download account info and others are saying that the download feature doesn't even work. Did 5.0.4 fix these two things?

Monty Member IconComment+109
Monty
+0

Given the significant upgrade cost, especially when you add the IOS purchase, and the lack of any real improvements over version 4 (based upon the trial download, many bugs in 4 are still not fixed), I am looking for an alternative. Do any of the other financial programs import iBank files, or does every program rely on the qif export from iBank? If the latter, how good are the other programs on the import? Any feedback on the IOS app and the interface with the Mac program would be appreciated.

Reply2 replies
Version 5.0.3
D9
+0

SEE Finance seems to be the darling of Mac finance apps these days. It is nice in features/UI and does a better than average job at importing QIF imports from other apps like iBank.

My main problem with SEE Finance is that there are no iOS apps to compliment it. I just do too many transactions while mobile not to have a solution to sync w/ my desktop solution.

Reowen
+1

I agree with D9 that you should try SEE Finance. I use it and have found it rock solid and fast. It downloads transactions and bank statements, handles investment accounts, and has decent support. However, reconciliation is not well implemented.

Justincase Member IconReview+11
Justincase
+1

New user...No so happy with iBank 5.0.3.

I tried two of my banks listed thier "Direct Access", and both failed to work for different reasons. I read good reports on this product, so I'll wait to see how their Support responds to my email from yesterday.

I hope others have better luck.

Reply0 replies
Version 5.0.3
Tim27 Member IconComment+554
Tim27
+3

So, let me get this straight... the Mac app costs $60, the iPhone version another $5, and the iPad version another $20!
That is nuts. MoneyDance is $50 and the iPhone/iPad app is free. I could see charging $5 or even $10 for a universal mobile app, but to charge for each one is ridiculous.

Reply8 replies
Version 5.0
Shock-J
+4

Normally I would agree with you, but you're not seeing/telling the full picture here. The MoneyDance iOS app is designed to merely let you enter transactions while your out and then sync them back to your computer. That's it.

The iBank iPhone app is pretty much the same as Moneydance app, and I agree that it should probably be free (if you bought the desktop app), but the iBank iPad app is a completely different animal. It can pretty much do EVERYTHING the desktop app can do. It is a complete product. You could buy the iPad app and skip buying the desktop app altogether. That's why it's $20, it's not just a "sidekick" app, it's a full product.

Xplicit
+2

a.) You get what you pay for and
b.) software development is very sophisticated, hard and time-consuming work.
Please let's not forget both.

Amcarter3
+0

What Shock-J says is NOT true about the iBank iphone/iPad app. It allows you to enter data like you would on the full Mac app and it syncs when and only when you have WiFi connection to the Mac app. It does NOT sync with your Mac app database via the internet.

For example, the iPad app is worthless when traveling UNLESS you pay for direct access to your online accounts. When traveling, I resort to using MINT to track activity in all of my accounts. You can't do that with the iBank for iPad app.

Shock-J
+0

@amcarter3 - Exactly where in my review do I make the claim that the iPad app can sync with the desktop app over the internet? NOWHERE, that's where. I basically make one claim, that the iPad app is a full product in comparison to the iPhone app. That's it.

And just because people don't use finance apps the way YOU use them, doesn't make them worthless. I use iBank to enter all my transactions to know how much money I've spent (and how much I have left). It doesn't have to be connected to all my account at all times to be extremely useful/valuable to me.

If you're going to call someone out, next time make sure they ACTUALLY said what you're calling them out for.

Amcarter3
+0

Sorry you didn't like my reply. My point was not about "calling you out". It was to clarify how the iBank for iPad app works.

The fact is, the iPad app will not sync unless you are connected to your computer via WiFi or are willing to pay the annual $40 fee for Direct Access. So, the reality is there is no way to sync it or even update it when traveling and that makes it is "useless" (to me).

Tim27
+0

So, basically what is being stated here is that if you have the iPad app you can't sync with the iPhone app unless you:
a) connect through wifi to a computer running the desktop version
b) sign up for their $40 direct access thing.
That makes the extra money charged for the iPhone and iPad apps even less appealing than I originally thought. For a money app that is trying to help you with your budget, that seems kind of ridiculous.
Really, what would be the point of having just the iPad app and not being able to transfer the data from that app to any other software/platform?

Amcarter3
+0

That's about it. The iPad app (and I assume the iPhone app) both require Wifi to sync to the iBank "Mac" app on your computer, UNLESS you pay for IGG's Direct Connect service.

Whether that is fair or not is anyone's opinion. Personally, I don't begrudge IGG for charging for this extra service since they apparently have to pay a bank fees to make the service available. I don't need the service, so I don't pay for it. MINT provides me with full up-to-date info on my accounts when traveling and I pay all my bills through a brokerage bank account.

xraydoug
+1

At least the iPhone app can certainly sync with the Mac app remotely. You have to use a WebDAV service such as Cloudsafe or another of your choosing, but this syncing works just fine. I have three different iDevices syncing in this manner, and it keeps everything sorted out with no problems. I assume that they have used similar architecture for the iPad app, though I can't say for sure.

Rezstudios Member IconComment+45
Rezstudios
+5

iBank charges $4.99/month or $39.99/year for their new Direct Access synching subscription service, although it says the subscription service isn't required. It seems a bit confusing... it isn't too clear what functions you will lose if you do not subscribe to the service. Can anybody clarify what this subscription fee adds as far as functionality? I am concerned about so many software developers trying to move to subscription services as it tends to create consistent and predictable revenue for the developers while dramatically increasing the costs for consumers.

Reply11 replies
Version 5.0
MacUpdate_User_caa0f1d9e84610d3c21c9577fca77f2c
+1

I've been searching for the same answer with no success. The company's Web site is opaque on the issue. I'm happy with how version 4 talks to my bank and credit card companies (versus having to download and import CSV or OFX files--ugh). I would hate to lose that functionality--or have to pay for a subscription to what iBank 4 already provides for free.

Macguruguy
+1

I just sent them a message asking what the heck this is. I won't upgrade if I have to subscribe to download from my bank. I'll stick with iBank 4 until it doesn't work anymore.

Macguruguy
+2

Here's what I found out:

Direct Connect is a two-way connection.
This means that data flows in both directions. First, a request for data is sent to your financial institution by iBank. After the request has been authenticated by your financial institution servers, data is then received and presented in iBank.
-Your financial data is stored on servers controlled by your financial institution or by a third-party they connect with.
-Your financial data is encrypted during download.
-Your customer ID and password are not stored on iBank's servers. They are encrypted and stored in your Keychain on your Mac HD.

Web Connect is a one-way connection.
Data is imported into iBank, but not exported.
-All imported data is stored on your computer.
-Financial data is encrypted during download.
-Your login information is not stored in iBank. You must enter it each time you update your account.

Direct Access is a service exclusive to the IGG Software products iBank 5 and iBank for iPad.
It allows you to view all of your financial transactions - even pending ones - in iBank as soon as they become available in your online accounts. Once your banking logins are set up, accounts update automatically in the background, with no additional steps needed.

The pricing is as follows:

Direct Access 1 month (30 days) of service $4.99
Direct Access 3 months (90 days) of service $12.99
Direct Access 1 year (365 days) of service $39.99

D9
+0

Thanks, Maguruguy! So DC for iBank 5, in a way, is like Quicken Online or Mint...it gives you automatic information on all your current financial data. However, Web Connect, which is how iBank 4 and other finance apps work, only collects current financial data for a particular online account at your request.

Therefore, iBank 5 could work as it has in the past w/out having to use the Direct Connect feature at all. At least, that's how I'm reading that reply.

Rezstudios
+3

@D9: From my understanding, WebConnect connects via a bank’s website server and just downloads account data without exact verification of what data has already been imported in most cases... you need to check the data for duplicates or rely upon your software to ignore duplicates properly. DirectConnect, in contrast, connects directly from your finance app to your bank’s data servers or authorized third party servers, not through a website interface, and does more accurate duplicate filtering, preventing mistakes. DirectAccess is iBank's subscription service that works like DirectConnect, but supports additional banks that do not utilize DirectConnect. The problem is, with a paid DirectAccess method, there is less incentive for iBank to support more banks via DirectConnect. In my particular case, my primary bank is not listed as supported by DirectConnect in iBank or Quicken, but it does work utilizing DirectConnect in SEE Finance. So when using iBank 5, I would need to pay a subscription fee to obtain the same direct data access that SEE Finance provides me for free or be forced to use the less accurate and more cumbersome WebConnect method. On the positive side, if your bank is not supported via DirectConnect in any other software, you are more likely to have the option of the similar DirectAccess function in iBank since it is a paid service.

I view DirectAccess similarly to the move made by Microsoft when it created Xbox LIVE. A subscription service generates revenue for the creator that allows it to enhance these services and in some ways provide a better experience; however, this also kills the existing free services and changes the industry model to a pay-only subscription model due to the financial gains available to developers. This leaves people, like me, who were completely satisfied with previous existing services out in the cold, forced to pay for services that were previously free. In the end, these type of subscription services only provide a marginal improvement over the previously free access while dramatically increasing costs to consumers.

One other note: iBank still needs work when it comes to importing data. It is ridiculously slow and appears to fail when importing large data files… I am still waiting for it to finish trying to import my exported QIF data that both SEE Finance and Moneydance finished importing in less that two minutes. It has been 45 minutes and it is only a third complete according to it’s progress bar. The last time I let it complete, it ran all night and the imported data was unusable. That is the big showstopper for me. Again, the other two finance applications mentioned do not have this issue.

Rezstudios
+0

*update*: So iBank 5 now supports my primary banking institution via DirectConnect. That's good news! However, iBank still appears to fail to properly import my years of financial data that the competing financial applications import without issue.

Pik80
+1

Knowing that iBank is going the (mandatory?) subscription route I might go with Jumsoft's Money instead. I have been interested in that program for some time and knowing that I can buy the entire product for close to the same amount that iBank is charging just for the upgrade (not even including the service charges) really makes me think about giving Money another try. Several years ago it was really a toss up for which app to go with but the subscription charges really make me reconsider things.

D9
+0

Pik80, be careful! I've had a LOT of issues w/ Jumsoft's Money.

First and foremost, the sync function is atrocious. They initially had WiFi syncing which worked OK w/ iOS devices, but they then gave iCloud a shot and it corrupted every data file. So Jumsoft dropped that months later and went back to WiFi only. Now they've added Dropbox syncing and it does not work. I can update my data file on iPhone then later update the data file on my Mac, and I'll have 2 separate data files!! Worse, you can even use the WiFi solution as an alternative now.

Their implementation of bank transaction downloads is hit and miss w/ recognizing matching entries already in the account. Their method of loan entries and your ability to separate categories (principal, interest, taxes, etc.) doesn't exist.

On top of all of this, I've had at times data corruption, meaning entries have the wrong dates, amounts and/or accounts; even totals add up wrong.

I wanted to like this app because of its GUI, features, and iOS solutions...and I've tried at least a 1/2 dozen times...but this app just seems too poorly developed to handle such critical data as my finances.

(Personally, I'm holding out hope for SEE Finance if it ever develops an iOS companion app.)

Pik80
+0

@D9 Thanks for the warnings. I actually haven't been using iBank to sync between iOS since I haven't figured out how to get it to work anyways. In some ways it seems like a lot of people are struggling with getting sync to work which in some ways more of Apple's problem for not providing a solution that works as well as some other cloud services.

I figure it probably can't hurt to at least download the trial of Money. How long ago did you try using Money? Recently?

D9
+1

Pik80, I've been using recently and am still active w/ it today (although it is not my main financial application). I retried it when I saw that they added Dropbox syncing, which as I stated has not operated properly.

Again, I love the UI and look of Money but they cannot get their act together on this issue. Plus I have the other issues that just bug me to not wanting to count on Money.

So here's my assessment on the lot of options:
1. Jumsoft Money - horrible Mac/iOS syncing, poor handling of loans
2. iBank - expensive, subscription for online banking, and very poor iOS solutions
3, Moneywell - excellent software, support and iOS solutions but I can't stand their "Bucket" paradigm
4. SEE Finance - excellent software, cheap and nicely supported but no iOS solutions
5. Quicken - LOL...the poster child for poor Mac support..of any software developer!
6. Mint - More of a snapshot solution than full banking. Big WTF...no option for Cash accounts. Do they think everyone does everything online?!
7. Moneydance - ok but slow development for Mac/iOS gives pause to high price tag. Numerous errors & transfers w/ entries for me; awful reports feature
8. Checkbook (Pro) - too simple to be a full financial app
9. MoneyWiz - WAAAY too different of financial UI to be useful and cannot handle loans & investments
10. Check - Just a bill paying solution. Again, no option for cash transactions.

Yes, I've tried all of these. To date, I'm using Moneywell although avoiding completely their bucket method (which is just too complicated for me). It is, by far, the best at syncing data across various devices; this includes using the iPad version as a standalone solution, if desired. I know that doesn't interest you but I still feel it's important to note and shows the robust development team they have in place.

This, IMHO, is the sad state of Mac financial applications.

Pik80
+1

@D9
Thanks for the extensive review of the other Mac Finance apps. It helps a lot.

Macguruguy Member IconComment+129
Macguruguy
+2

Steep upgrade price ($29.99).

Reply1 reply
Version 5.0
Pik80
+1

Yeah, I am still trying to figure out what features would be worth the $30. If anyone can convince me of a few features that have improved their work flow I might make the jump.

Pik80 Member IconComment+341
Pik80
+0

Can someone please tell me the upgrade price of this software? I couldn't find that info on their website.

Reply2 replies
Version 5.0
Mikokim
+2

From their website (click Store):
"To purchase an upgrade: download the newest version of the application you want to upgrade, launch it, choose "License" from the application menu, and follow the prompts to order a license. The software will automatically detect your previous registration and offer you a discounted upgrade price. The upgrade from iBank 4 to 5 costs $29.99. If you are not offered the upgrade price, please contact us before purchasing so that we can provide you a discount coupon to use with our online store."

Pik80
+0

Thanks!

user icon+7
Jcizzo
Version 5.0.4
user icon+10
MarcoB001
Version 5.0.4
user icon+0
Jpfink
Version 5.0.3
user icon+0
iggypop
Version 5.0.2
user icon+44
Vandulus
Version 4.3.1
user icon+0
imppaint
Version 4.3
user icon+44
Vandulus
Version 4.3
user icon+0
derjohng
Version 4.2.4
user icon+9
Captain_Willard
Version 4.2.4
user icon+0
RiceRocket
Version 4.2.4
> 4 107

Ratings

Overall
(107)
Current Version (5.x)
(8)

Details

Downloads 150,903
Version Downloads 2,343
License Demo
Date 11 Apr 2014
Platform Intel 64 / OS X
Price $59.99
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