Banktivity (iBank 5): Best Personal Finance Software for Mac

iBank was founded in 2003, with the vision of helping individuals–especially small business owners–control their finances virtually, enabling them to succeed in the highly competitive entrepreneurial world of today.

Since then, iBank has gained the reputation of being the best banking software in almost all of the iBank reviews available online.

This money management software for Mac filled a gap in the market, helping small businesses and entrepreneurs by providing a mobile banking software, enabling them to thrive amidst a fast-paced market. 

Before iBank, there was no comprehensive, full-featured budget software for Mac users. Founded by Ian G. Gillespie and created by IGG software, iBank is now known as Banktivity.

Currently, Banktivity 5 is available for purchase and download, and Banktivity 6 will be released in Spring 2017.

IGG’s mission has always been to simplify the management of personal or corporate finances. The experienced team of developers created a virtual platform where even the least tech-savvy person would be able to keep track of his/her expenditure and financial data.

Before writing this article, we took an in-depth look at several iBank 5 reviews, now known as Banktivity 5 reviews.

Our Banktivity review aims to provide a comprehensive understanding of what features, performance qualities, and benefits make this the best personal finance software for Mac users to consider in 2017. 

See Also: Tips – How to Select the Best Budgeting App

Origins of iBank

iBank, recently been renamed Banktivity, is a full-featured money management software for Mac operating systems.

Developed by IGG software, this versatile banking software is your one-stop shop for managing your finances and accounts from your desktop or mobile device.

Solely available for Mac and iOS, Banktivity marks a new era in digital money management, and multitudes of Banktivity reviews applaud it as the best personal finance software for Mac users. 

It is the most comprehensive native budget software for Mac available, and it is continuously improving and adding new features.

For Mac users, this banking software is a perfect fit. Banktivity is crafted to align with all versions of Mac operating systems, making it an ideal budget software for Mac systems.

Banktivity Review

In January of 2016, iBank announced it was changing its name to Banktivity.  In his blog post, Ian Gillespie revealed a few reasons for the change:

  • The name “iBank” was commonly used as an abbreviation for international money transfers or investment banking, creating confusion
  • The domain name was impossible to secure
  • iApp names are too common and perhaps becoming worn out

Ultimately, the switch to Banktivity represents an attempt by IGG software to fully claim their banking software as their own.

While it is still primarily a budget software for Mac, rebranding the banking software as Banktivity instead of iBank is a smart marketing move on IGG software’s part. 

All banking software releases now carry the Banktivity name. Thus, the most recent version of this budget software for Mac–iBank5–is now called Banktivity 5. 

Our Banktivity review will focus on providing a comprehensive Banktivity 5 review while acknowledging that many consumers still recognize this money management software for Mac as iBank 5.

Although the change has been in action for a year, it does take time to adjust to rebranding and a new name. There will still be those who are used to searching for iBank 5 reviews and insight, so we will incorporate the old name along with the new.

Thus, during the course of our Banktivity review, we will be using both names for your reference.

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Examining Previous Banktivity 5 Reviews (iBank 5 Reviews)

One of the main conclusions we drew from reading various Banktivity reviews (iBank 5 reviews) is that many reliable sources agree that it is the best personal finance software for Mac.

This is particularly true for those who prefer banking software with an easy user interface and overall simplicity. 

The features of the Banktivity 5 budget software for Mac include:

Easy Setup

Whether importing your accounts and transactions from Quicken, or setting up Banktivity from scratch, the setup process couldn’t be easier.

The setup wizard has been praised in almost every Banktivity review we have read.

Budgeting Tools

Banktivity 5 reviews (previously iBank 5 reviews) all highlight the advanced budgeting tools.

These allow you to monitor spending habits and daily progress, build savings, and sync budgets to the Banktivity app on all your iOS devices. 

Pay Your Bills 

No Banktivity 5 review could go without mentioning the bill pay feature. This enables you to set up, schedule, and make payments, as well as track past transactions and categorize expenses.

Improved Bank Connections 

The direct download feature has been hailed as one of the unique selling points for this personal money management software by several Banktivity reviews. 

This feature allows banking software users to download updates from thousands of banks and share the data across all of your devices. 

If your bank doesn’t support direct download, you can use Banktivity’s integrated web browser to download and import transactions. 

Keep Track of Your Spending Patterns 

The banking software allows you to see where your money goes by assigning categories and sub-categories to each transaction you make, resulting in detailed budgeting and reporting. 

Secure Private Cloud Sync 

End-to-end encryption ensures that your sensitive data is stored securely while in transit and at rest. 

Enhanced security is one of many features which cause Banktivity reviews to applaud Banktivity as the best personal finance software for Mac users. 

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Banktivity Mobile App

The reason why existing customers have labeled Banktivity as the best banking software available is simple. The mobile app offers everything you need to manage your finances on the go.

A recent Banktivity review states that the Banktivity 5 mobile app is:

“The best iPhone personal finance app – by far! I have been eagerly waiting this app since it was announced. It supports ALL of my accounts, including investment, real estate, precious metals, as well as budgets and banking.”

banktivity reviewImage Source: iBank Reviews

Let’s explore what other Banktivity reviews reveal about the mobile features that make it a great budget software for Mac:

Passcode Protection

Each time you open your Banktivity document, a passcode is needed. Touch ID can be added if your device supports it.

Hide or Show Accounts

If you have unused accounts, the mobile banking software allows you to de-clutter your finances by selecting which account you would like to show or hide.


For ease of backup or transfer, all of your account information is stored in a single data file.

Multiple Currencies

You can create accounts in multiple currencies and apply currency conversions as and when you need them.

By default, Banktivity banking software will use your native currency, as per your iOS settings. 

Monitor Expenditure

The ability to keep an eye on your daily spending allows you to identify where you can cut down.

You can view current account balances as well as being able to create, edit or delete your transactions and much more.

The iPhone app is perfect for those who are often on the move, and it packs all of the features of the full personal money management software into a simple, yet extremely functional interface.

Banktivity Investor

One significant component of this banking software is that Banktivity 5 is truly the best finance app for individual investors. We found plenty of Banktivity reviews that skimmed over this aspect, but our Banktivity review will cover this in detail.  

A Banktivity review from Investor Junkie acknowledges Banktivity Investor as a great budget software for Mac users.

Although it has an easy user interface and unique features, the overall consensus is that the banking software is better-suited for those with simpler investment needs. 

Macworld, however, gave the app a 5-star rating in their Banktivity review. They are confident that Banktivity investor is, without a doubt, the best personal finance software for Mac users available on the market today.  

In a bid to avoid biased conclusions based on existing Banktivity reviews, we have laid out the core features of Banktivity Investor below so that you can decide if it meets your requirements:

Automatic Updates

Each time you launch the Banktivity Investor app, it automatically downloads the latest quotes from Yahoo! Finance.

Monitor Latest Trends

News headlines from Yahoo! Finance appear with each ticker symbol, allowing you to see which trends are currently affecting your holdings.

Organize Your Investments

Syncing with Banktivity 5 for Mac enables you to organize your holdings by account in Banktivity Investor.

Instantly Keep Track of Key Stock Data

You can check dividend yields, verify 52-week hi/lo averages, and much more in real-time.

Manual Data Input

Aside from being able to sync data from the Banktivity 5 desktop app, you can also enter as much data as you choose, manually. All of your transfers are then sent through the secure cloud sync service.

Overall, our Banktivity review can recommend Banktivity Investor as being an excellent option.

Not only is this banking software easy to use, but it is constantly improving with each updated version, making it a great budget software for Mac users.

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Banktivity 5 (formerly iBank 5) is priced at $59.99 for a single-user license.

At first glance, this price tag might seem a little steep to pay out all in one go, but when you consider that it is a one-time payment, it puts things in perspective.

A 30-day free trial of the Banktivity budget software for Mac is also available, with no credit card required.

Furthermore, as a small business owner or entrepreneur, this banking software saves you the cost of hiring an accountancy firm to do your bookkeeping for you.

This means that you will have more money to spend on other resources, which can help your business grow faster.

Customer Service

An important component of creating a non-biased Banktivity review is to look at the ways in which it helps customers address and overcome any technical issues they might have.

Part of IGG Software’s mission is to provide its clients with easy-to-use, hassle-free banking software to manage their finances. It goes without saying that its customer support department should align with that promise.

Banktivity offers customer support via the following channels, which are all laid out neatly on its website:

  • A comprehensive FAQ section of its website
  • Support articles offering a wealth of explanations and solutions to common issues
  • Live chat or email support

It currently does not have the option of phone support. This can be slightly inconvenient if the live chat is not in operation for urgent queries outside of U.S. working hours.

Banktivity vs. Quicken

Banktivity’s largest competitor for Mac is Quicken. Each Banktivity review seems to have a different opinion as to which money management software for Mac outperforms the other.

Below, we offer the opinion of a highly trusted publication on this topic in their own Banktivity review: 

According to The Sweet Setup: “The Quicken update has mostly upset users and left them frustrated with Intuit’s treatment of the Mac version of the app as a second-class citizen… Banktivity does everything well.”

As an additional consideration, Quicken’s banking software does not currently offer a free 30-day trial period, whereas Banktivity’s budget software for Mac does.

Quicken also lacks upgrade pricing and support for multiple currencies, unlike Banktivity.

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Conclusion: Is Banktivity the Best Banking Software for Me?

For consumers who have been wondering what Banktivity is and looking for a comprehensive Banktivity 5 review, we hope our expert Banktivity review provides answers.

Our objective overview of this banking software is based on diligent research of existing Banktivity 5 reviews (formerly iBank 5 reviews).

It goes without saying that everyone has varying financial needs, and one banking software may not fit every single need.

Still, Banktivity goes above and beyond to create budget software for Mac users that anticipates the potential demands of a small business or entrepreneur. 

Ultimately, Banktivity 5 is a comprehensive money management software for Mac users, allowing for effortless monitoring of finances and portfolios.

With the ability to create budgets and reports, Banktivity allows users to forecast future expenditure and earnings.

With a solid grasp on the present and intuitive tools to look towards the future, Banktivity is the best personal finance software for Mac users to consider using in 2017. 

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