Banktivity Review: Personal Finance Software

Banktivity, developed by IGG Software, is a financial management solution that offers a personalized touch. Based in Putney, Vermont, this small, dedicated company specializes in developing applications for Mac and Apple mobile devices.

User engagement sets it apart

What sets Banktivity apart is its commitment to user engagement. Embracing the advantages of remote work, Banktivity interacts regularly with its customers, encouraging suggestions for improvements or new features. The only downside with this is that you do have to have an Apple device to operate the program, which makes it a no-go for Windows or Android users.

User-friendly budgeting

The latest update for Banktivity offers an impressive financial tool compatible with Mac, iPad, and iPhone devices. Setting up the app is a breeze, with the option to connect to over 14,000 banks and even monitor the value of your home and other real estate holdings. After the initial setup and syncing, Banktivity offers you assistance with budgeting, so you can control every dollar of your paycheck. With the user-friendly prioritization features, you can trust Banktivity to put your big budget items first, limiting spending when you run out of your budget in one area, and providing a clear roadmap for financial management. However, the design and layout of the program come across as a little dated, so if you're looking for a modern streamlined look, this might disappoint you.

Full range of features backed by a 14,000-bank network

From tracking and tagging to categorizing and reconciling transactions, you can use Banktivity's range of features to maintain a well-organized financial life. You can easily create account groups, budgets, and reports all in one place. On top of that, Banktivity offers detailed reports that can be transformed into PDFs or printed for your convenience or for tax purposes. And if you're interested in investing, Banktivity will monitor individual assets, split dividends, and perform accurate ROI and IRR calculations with ease. Banktivity maintains active and secure connections to a network of 14,000 banks, so you always have real-time data at your fingertips.

Standout features

Some of the software's standout features include:

• Investment monitoring
• Loan management
• Property management
• Transaction history
• Tax reports
• Spend tracker
• Financial dashboard
• Expense groups
• Budgeting
• Bills management
• Payment gateway
• Reports
• Multi-currency support

Three pricing tiers to choose from

Banktivity offers three pricing tiers as well as a 30-day free trial to get you started. The premium plans break down with the following benefits:

• Bronze Subscription: $4.17 per month or $49.99 per year
• Account types: Checking, Savings, Credit cards, Basic asset, and Basic liability
• Automatically connect to banks (via Direct Access and OFX)
• Create budgets
• Create reports
• Setup goals to pay down debt
• Build an emergency fund
• Encrypted Cloud Sync (see all data on all devices)
• Technical support (with US-based representatives)
• Silver Subscription: $5.84 per month or $69.99 per year
• Includes features of Bronze plan and:
• Account types: Investment, Retirement, Real Estate, Mortgage
• Download stock prices
• Investment reports
• Download home values (US-only)
• Save for education
• Plan for retirement
• Gold Subscription: $8.34 per month or $99.99
• Includes features of Silver plan and:
• Track accounts in different currencies
• Download currency exchange rates
• Check printing

90-day money-back guarantee

Banktivity provides a customer-friendly policy for getting your money back. If you're happy with the software within 90 days, you are offered a money-back guarantee for software purchased through Banktivity's online store. So if you find yourself dissatisfied, you can easily contact customer support, and your purchase will be refunded in its entirety. It's important to note that refund policies for purchases from other vendors don't qualify for the 90-day return policy, so buying directly from Banktivity is the best way to get that safeguard.

Decent reputation, but not a lot of users

During our research into Banktivity's reputation, we found that Banktivity's parent company IGG has an "A+" rating from the Better Business Bureau. On top of that, Banktivity shows an average rating of 4.2 stars out of 5 on the Apple mobile app. However, there are fewer reviews for this service than with other companies we evaluated. At the time that we checked out Banktivity, there were only 49 reviews on the Apple app store and only 9 total reviews on third-party review sites where Banktivity holds a 3.9-star rating out of 5. In general, we'd prefer it if this app had higher popularity.

Good solution for Apple users only

If you're an Apple user who is looking for a budgeting and investment app, Banktivity is one possible solution. With competitive tools and the ability to consolidate all your financial accounts, you'll be supported in every aspect of your finances. However, if you aren't an Apple user, you can't use this app at all. Considering that massive drawback (and the number of Windows users today), Banktivity falls lower in the rankings, since it's just not usable for a large number of potential customers.

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On the Banktivity website