Banktivity Review: Pros, Cons, Features, and Pricing

Q: How does Banktivity handle data security and compliance?

Banktivity takes data security seriously, using encryption to protect your financial information. It complies with industry standards to ensure your data is safe. You can feel confident knowing your transactions and personal information are secure. Banktivity also regularly updates its security measures to align with best practices.

Q: Can I use Banktivity offline?

Yes, you can use Banktivity offline to manage your finances. You’ll still have access to all your data, and any changes you make will sync once you reconnect to the internet. This feature is helpful if you need to work without an internet connection.

Q: Is Banktivity suitable for international users?

Banktivity supports multiple currencies, making it suitable for international users. You can manage accounts in different currencies and convert them easily. This functionality is beneficial if you have global investments or travel frequently.

Q: What kind of customer support does Banktivity offer?

Banktivity provides customer support through email and offers a range of online resources like FAQs and tutorials. While there’s no live chat, the support team is responsive and helpful. You’ll find answers to most common questions in their comprehensive help section.

Q: How often does Banktivity update its software?

Banktivity releases updates periodically to enhance features and security. While updates aren’t as frequent as some users might like, they focus on improving functionality and addressing user feedback. Keeping your software updated ensures you have the best experience.

Q: Can Banktivity handle multiple accounts?

Yes, Banktivity can manage multiple accounts seamlessly, allowing you to see all your finances in one place. You can sync various bank accounts and credit cards for a comprehensive financial overview. This feature is ideal for those managing complex financial portfolios.

Q: How customizable is Banktivity for my specific needs?

Banktivity offers customization options like categorizing transactions and setting financial goals. You can tailor reports and dashboards to fit your financial tracking needs. This flexibility helps you focus on the areas most important to your financial planning.

Q: What platforms is Banktivity available on?

Banktivity is available for macOS and iOS, catering to Apple users. You can manage your finances on both desktop and mobile devices. This cross-platform availability ensures you can keep track of your finances on the go.

Banktivity is budgeting and planning software built for Mac and iOS users. It covers personal finances, bank accounts, investments, and cash flow tracking in one place. It's a strong option if you want something built specifically for macOS and iOS rather than a cross-platform tool. Compared to Quicken, Banktivity has a cleaner, more modern interface without the legacy clutter. That makes it the stronger choice if you're already in the Apple ecosystem.

Banktivity Evaluation Summary

Banktivity tracks income, spending, goals and investments in one Mac/iOS finance app.

Pricing

From $4.99/month (billed annually)
30-day free trial

Why Trust Our Software Reviews

Banktivity Overview

In my opinion, Banktivity is a solid choice for those seeking a personal finance tool with detailed budgeting capabilities. It excels in investment tracking and offers a user-friendly interface on iOS app and desktop, making it ideal for individuals and small business owners. Compared to competitors like Quicken, YNAB, Moneydance, and MoneyWiz, it stands out with its intuitive navigation and responsive customer support.

However, its onboarding could be more streamlined, and it may not offer as many integrations as some larger platforms. It's best suited for users who prioritize detailed insights into financial data, net worth, and currencies while retaining straightforward budgeting over extensive third-party connectivity. If you're looking for a tool that combines functionality and ease of use with powerful features, Banktivity could be the right fit for your financial planning needs.

pros

It offers detailed investment tracking for your portfolios.
The user interface is intuitive and easy to navigate.
You can generate comprehensive financial reports for better insights.

cons

Onboarding can be confusing for new users.
It lacks some advanced features found in larger platforms.
Updates and enhancements are less frequent than some competitors.

Is Banktivity Right For Your Needs?

Who Would be a Good Fit for Banktivity?

Banktivity is ideal for individuals and small business owners who need detailed budgeting and investment tracking. If you’re managing personal finances or running a small business, its intuitive interface can help you keep track of expenses, categorize each credit card purchase, and generate insightful financial reports. It’s particularly useful if you want a tool that emphasizes ease of use, accurate cash flow projections, and clear financial goals without the need for extensive integrations or Quicken-style add-ons.

Personal Finance

Banktivity helps you track expenses and investments with detailed reports, perfect for managing personal budgets and calculating net worth.
Freelancers

Freelancers can benefit from its ability to categorize expenses, manage bank accounts, and monitor income streams efficiently.
Small Businesses

Small businesses find value in its straightforward budgeting tools, bill pay, and easy-to-use interface for day-to-day money management.
Finance Enthusiasts

Finance enthusiasts appreciate its comprehensive investment tracking for detailed analysis and clean imports from financial institutions.
Home Budgeting

Home budgeting becomes easier with Banktivity's ability to manage scheduled transactions, envelope budgeting, and household expenses efficiently.
Retirees

Retirees can use Banktivity to monitor investment accounts, pensions, and savings account balances, and export for TurboTax.

Who Would be a Bad Fit for Banktivity?

Banktivity might not suit large enterprises or organizations needing extensive integrations with other software. If your team relies heavily on advanced features, deep direct connect coverage, or frequent updates, Banktivity's offerings might fall short. It’s also not ideal for industries needing complex forecasting, consolidated brokerage feeds across multiple regions, or real-time collaboration, as its feature set is more geared toward individual users and small businesses than a corporate stack.

Large Corporations

Banktivity lacks the advanced features and integrations large corporations need for complex financial operations.
Enterprise Teams

Enterprise teams might find its limited collaboration tools insufficient for large-scale projects.
Global Businesses

Global businesses need more comprehensive reporting and currency support than Banktivity offers.
Financial Institutions

Financial institutions may require more robust and specialized financial analysis tools than what's available.
Tech Startups

Tech startups looking for cutting-edge integrations and frequent updates might find Banktivity lacking.
Manufacturing Firms

Manufacturing firms often need more advanced inventory and supply chain financial tracking than Banktivity provides.

How We Test & Score Tools

We’ve spent years building, refining, and improving our software testing and scoring system. The rubric is designed to capture the nuances of software selection and what makes a tool effective, focusing on critical aspects of the decision-making process.

Below, you can see exactly how our testing and scoring works across seven criteria. It allows us to provide an unbiased evaluation of the software based on core functionality, standout features, ease of use, onboarding, customer support, integrations, customer reviews, and value for money.

Core Functionality (25% of final scoring)

The starting point of our evaluation is always the core functionality of the tool. Does it have the basic features and functions that a user would expect to see? Are any of those core features locked to higher-tiered pricing plans? At its core, we expect a tool to stand up against the baseline capabilities of its competitors.

Standout Features (25% of final scoring)

Next, we evaluate uncommon standout features that go above and beyond the core functionality typically found in tools of its kind. A high score reflects specialized or unique features that make the product faster, more efficient, or offer additional value to the user.

We also evaluate how easy it is to integrate with other tools typically found in the tech stack to expand the functionality and utility of the software. Tools offering plentiful native integrations, 3rd party connections, and API access to build custom integrations score best.

Ease of Use (10% of final scoring)

We consider how quick and easy it is to execute the tasks defined in the core functionality using the tool. High scoring software is well designed, intuitive to use, offers mobile apps, provides templates, and makes relatively complex tasks seem simple.

Onboarding (10% of final scoring)

We know how important rapid team adoption is for a new platform, so we evaluate how easy it is to learn and use a tool with minimal training. We evaluate how quickly a team member can get set up and start using the tool with no experience. High scoring solutions indicate little or no support is required.

Customer Support (10% of final scoring)

We review how quick and easy it is to get unstuck and find help by phone, live chat, or knowledge base. Tools and companies that provide real-time support score best, while chatbots score worst.

Customer Reviews (10% of final scoring)

Beyond our own testing and evaluation, we consider the net promoter score from current and past customers. We review their likelihood, given the option, to choose the tool again for the core functionality. A high scoring software reflects a high net promoter score from current or past customers.

Value for Money (10% of final scoring)

Lastly, in consideration of all the other criteria, we review the average price of entry level plans against the core features and consider the value of the other evaluation criteria. Software that delivers more, for less, will score higher.

Core Features

Budget Tracking

Banktivity lets you track your expenses and income in real-time, giving you a clear view of your finances. You can categorize transactions by payee and account to see where your money goes and maintain a steady cash flow.

Investment Tracking

It offers detailed insights into your investment accounts and portfolios, helping you monitor performance and track investments at linked brokerage institutions.

Financial Reports

Generate comprehensive reports that show your net worth and financial health over time. These reports help you analyze spending patterns and adjust your budget accordingly.

Bill Pay

You can schedule and pay bills directly through Banktivity, ensuring you never miss a payment. This supports scheduled transactions and recurring obligations.

Account Syncing

Sync all your bank accounts and credit card data in one place for a unified view using Open Banking-style connections to financial institutions.

Goal Setting

Set and track financial goals to stay on top of your savings account and investment plans, guided by clear dashboards and tutorial prompts.

screenshot - Banktivity Review: Pros, Cons, Features, and Pricing — Tracks income and expenses in real time for clear budgeting.

Standout Features

Envelope Budgeting

Banktivity uses envelope budgeting to help you allocate funds for specific expenses, similar in spirit to YNAB, with flexible categories and rollovers.

Multi-Currency Support

It supports multiple currencies, making it ideal for users with international investments or transactions and historical financial data.

Ease of Use

Banktivity is user-friendly, with an intuitive interface that makes it easy to navigate your finances on iOS and macOS. You’ll find its layout straightforward on the iPad app and desktop, allowing access to key features like budgeting and investment tracking without hassle. Compared to other budgeting software, it’s designed to simplify financial management, with clear categorization, templates, and reporting tools that don’t overwhelm you.

Onboarding

Banktivity's onboarding can be challenging for new users, as its setup process isn't as streamlined as it could be. You might find the initial setup time-consuming. While it offers helpful tutorial resources, users often wish for more guided assistance.

Customer Support

Banktivity offers solid customer support, with users generally satisfied with the responsiveness and helpfulness of the team. You can reach out via email, and they provide a range of online resources and FAQs to assist you. While some users might prefer more immediate support options like live chat, the available resources are comprehensive enough to resolve most issues. Users appreciate the detailed responses and the effort to ensure that their questions are thoroughly addressed.

Integrations

Banktivity integrates with Direct Access, Salt Edge, and a wide range of Open Banking–enabled financial institutions to import transactions seamlessly. Banktivity does not have an open API or third-party integration tools available.

Value for Money

Banktivity's pricing offers flexibility with its tiered subscription model. Users appreciate the comprehensive financial management features that justify the cost, especially the ability to manage multiple assets and currencies. The availability of a 30-day free trial allows you to evaluate the software before committing to a purchase.

Bronze: Connect all bank and credit cards, create budgets, and track financial goals for $4.99 per month.
Silver: Includes all Bronze features plus downloadable stock prices and real estate tracking for $6.67 per month.
Gold: Adds international currency and investment management to Silver features for $8.33 per month.

Banktivity Specs

2-Factor Authentication
Accounts Payable
Accounts Receivable
API
Audit Trail
Balance Sheet
Billing/Invoicing
Budgeting
Calendar Management
Comparative Reporting
Compliance Tracking
CRM Integration
Custom Reports
Dashboard
Dashboards
Data Export
Data Import
Data Mining
Data Visualization
Document Comparison
Expense Tracking
External Integrations
Financial Analysis
Forecasting
General Account Ledger
Multi-Currency
Multi-User
Notifications
P&L
Payroll
Process Reporting
Risk Assessment
SAP Integration
Scenario Planning
Scheduling
Tax Management
Visualization
Workflow Management

Banktivity FAQs

How does Banktivity handle data security and compliance?

Can I use Banktivity offline?

Is Banktivity suitable for international users?

What kind of customer support does Banktivity offer?

How often does Banktivity update its software?

Can Banktivity handle multiple accounts?

How customizable is Banktivity for my specific needs?

What platforms is Banktivity available on?

Banktivity Company Overview & History

Banktivity, developed by IGG Software, is a personal finance app first released in 2003 for macOS as iBank and later for iOS. Headquartered in the United States, IGG Software focuses on creating software tailored for Apple users. The company is known for its dedication to enhancing money management with features that cater to individual and small business needs. Banktivity remains a popular choice among Mac users for its robust capabilities across investment tracking and intuitive budgeting.

Banktivity Major Milestones

2003: Commenced operations under the name iBank.
2016: Rebranded from iBank to Banktivity, reflecting its evolution and expanded feature set.
2018: Introduction of Banktivity 7 with new features like Dark Mode and enhanced stock tracking.
2021: Launch of Banktivity 8, with improved cloud sync and subscription model.