CNET Editors' review
iBank is a full-featured financial management app that can help you track bank and credit card accounts, keep an eye on your investment portfolio, generate a variety of reports, and help with budgeting and planning.
iBank's interface has a very Mac-like feel: a toolbar sits over two panes, one for sources on the left and one for a transaction register on the right. Unlike the previous version of iBank, transaction editing happens right in the register view, with drop-down tools for categories, splits, and memos, and you can perform calculations when entering amounts. The right pane is also where you look at charts and reports (which update dynamically as you change data, and which you can print easily), and you can also use a visual, "envelope-style" budgeting system here (which lets you set up envelope icons for different budget categories, allowing you to carry money forward or swap between envelopes). Templates make entering repeat transactions easy (as iBank remembers the criteria of past transactions), and "smart accounts" let you set up dynamic, user-defined categories similar to iTunes' smart playlists. iBank also includes a number of really handy extras, like camera integration (so you can snap a pic of a receipt and tie it to a record), good support for MobileMe and iBank's iOS app, and a flexible and robust system for importing data directly from financial institutions (along with support for OFX, QIF, and QFX files).
iBank still has some shortcomings (for example, there's still no online bill-pay), but otherwise this app hits the sweet spot between power and simplicity, at an affordable price. If you're looking for personal financial management software, iBank is one of the best in this category, and its 30-day, full-version trial is definitely worth checking out.
From IGG Software:
iBank 5 brings smarter budgeting, online bill pay, improved investment support and better integration with iBank for iPad. Simpler yet more powerful, nothing else comes close for managing your accounts and reaching your financial goals.
What's new in this version:
- Bugs fixed
- Crash when editing reports
- Dividend reinvestment not migrated correctly
- Scheduled transaction from iBank 4 doesn't migrate well
- A document with stranded OFXSettings entity fails to migrate
- Quotes in iBank ID password causes unrecognized error during login
- Adding a transaction to a statement doesn't mark it changed for a sync
- Statements view is missing horizontal scroll barSee all new features
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All versions:3.0 stars
out of 77 votes
Current version:0 stars Be the first to review this product
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"Bad Customer Support"
Version: iBank 4.7.2
NONE, None, None
I bought this product and within 12 days a new version came out. Nowhere was this posted on my alerts while using the Trial Version. Now IBank wants me to pay $30 to upgrade to the new version. The product itself is ok, it's not nearly as easy to use as Quicken was on my PC, but when I switched to a Mac I had to choose a new program. Unfortunately I picked the wrong one. Terrible customer support. DON"T BUY.
"Very mediocre product"
Version: iBank 4.7.2
Basic functionality is missing.
Ability to create useful multi year budgets.
Reporting is very weak, not even able to change column widths to see full Dates.
Do not buy.
"Awful Money Mgt program*"
Version: iBank 4.7.2
Nice Apple interface is the only pro
Very poor accounting interface for the trained financial accountant/investment professional. Transition from Microsoft Money or Quicken is difficult/impossible. As a retired CPA, this software is counterintuitive to normal accounting. I am sorry I bought it.
Check out other Money programs, do not buyback IMO
"best of the batch for personal finance on the Mac"
Version: iBank 4.7.2
capable software matching or exceeding Quicken for Windows
Mac like design
direct download from most major banks and brokerages
easy transfer from Quicken
reports available could be better
"Fine for basics, very disappointed by the details!"
Version: iBank 4.7.2
Mimics Quicken in a lot of ways, all of the basics that you would expect ~ monthly transaction reminders, etc
Fiscal year only calendar year ~ no option to change. Budgets only available for the calendar year.
Standard reports allow for few manipulations and are very limited.
Loses data frequently.
No standard reports that accountants might request
Customer service says they're working on things but the requests are out there from years ago ~ no movement on improvements to reporting or stability.
I was happy to switch from Quicken initially as Intuit was not supporting upgrades for Mac. The basics are fine but if you use this program for anything but basic tracking, I would suggest looking elsewhere. I am increasingly unhappy and will be shopping for another product.
"3-hours of polite customer service totally wasted"
Version: iBank 4.6
Easy to install interface
On-line chat customer service was trying to be helpful, but alas...
-did not read Quicken date format correctly, reasons unknown
- initially, had trouble with balances. this was corrected after running a script, and reloading the data file. But the dates were off.
-will not parse a single data file with multiple account information, so if you have several accounts -- checking, saving, IRA, etc., you need to download and import each one separately.
It was because of the poor reviews that I availed myself of the 30-day free trial offer from the Ibank webs tie. Lucky for me I did. I followed the instructions, which were easy. I imported a Quicken for Windows file that contained multiple checking and savings account information in the recommended format. Two problems: (1) the dates were off (2) the balances in several of the accounts were doubled.One thing I forgot to ask...How does CNET give this product as high a rating as it did? I am just curious to know what sort of testing CNET did, besides reading the package? This is very, very curious.
Customer service via chat had me download a script that ostensibly corrected problems with Quicken files. From the time I got on line until the time the scrubbed file was loaded into Ibank, more than an hour passed. The balances appeared to be correct but the dates were wayyyyy off. It appears that Quicken changed the format of its dating protocol around Y2K, to a "d/m'y" format that complicated things.
OK. So I then figured as it is close to the start of the year, I can download more than a year of transactional data from my bank, which allows multiple formats. My thinking was, I'd start from scratch, with no Quicken conversions at all.
But then customer support told me that Ibank does not have the ability to parse any file format where a single file would have multiple accounts -- say a checking account and a savings account, or money market account. Instead, I would have to download each account file separately. I am one of those who is loath to let Quicken (or Ibank or the electric company) go directly into my bank account for data. Call me a hopeless romantic, or old fashioned) This was after more than 3 hours on line, downloading files, checking all sorts of logs, importing and parsing and installing new files, etc.
In all, a very, very frustrating morning. So be aware. Be very aware.
Updated on Feb 19, 2013
"Rigid and unintuitive. Convoluted ways of sorting data"
Version: iBank 4.6
Import function, once figured out, CAN be handy. Interface is simple.
Can only export in 2 formats. Cannot export data to display in excel for example. Convoluted reporting function that is hard to use. Help function is simplistic and reflects the limited (rigid) and un-intuitive design of the program. Reviewers have hammered Quicken products and I don't understand why they do not similarly hammer this program, which is FAR more inadequate than the Quicken programs that I have used. At least with Quicken there is a lot that can be figured out with simple trial and error. With this program I have to correspond with the company to get complicated solutions to simple issues or to learn that... sorry, I know that it is simple but our program will not do it.
I do not understand why reviewers turn such a blind eye to obvious shortcomings of this program. They seem to have discovered a few things that the program does pretty well, praise those things and forget to try to use the program for routine data display, analysis, exporting and reporting functions. It is NOT an easy to use and flexible program. If I wanted a program that I have to study, study, study in order to use it I would have bought something like quickbooks.
"Waste of time"
Version: iBank 4.6
can't think of any. maybe it's cheap(?)
a) did not import quicken data correctly
b) terrible reporting output
c) very cumbersome when entering data
d) get error messages with no solution as to what is incorrect
i used quicken for years and had to find an alternative when my mac died and i bought a new computer this year. iBank was recommended but it is TERRIBLE compared to the limited quicken application i was using.
as a CPA i cannot believe someone has not written a quality program for individuals to use. given the amount of financial sophistication so many people now need to have available, i think iBank is a major step backwards in helping those who need such a tool.
as someone mentioned earlier, whole program reeks of late 90's technology when no one knew any better.
"Terrible UI, hard to use"
Version: iBank 4.5.2
No install problems
Look and feels like it was designed in 1998
Entering data awkward
Terrible importing funtion
Reports also look like they were designed in 1998
No sir, I just don't like it. Unfortunately there are few options for Mac financial management. Quicken Essentials is probably the best bet but the Mac Quicken is a joke compared to the Windows version. Why does Intuit punish Mac users?
"Still not as rich in features as Quicken for Mac 2006"
Version: iBank 4.5.1
A good application for simple checking account tracking.
1) Poor downloads from most financial companies especially Vanguard
2) No way to seperate ordinary income from tax-free income
3) Very poor reporting screens.
I would still be with Quicken if Intuit hadn't screwed up the program and failed to update to the newest version of Mac OS. If I had not gone through so much pain in transferring my Quicken account to iBank (almost 20 hours to check and recheck 25 years of transactions), I would consider Quicken for Windows using BootCamp.