Joe Lan, CFA is a former financial analyst for AAII.


Brian from WA posted over 3 years ago:

How does iBank compare with other portfolio management software? I am sure there are lots of differences, but is it in the same league as Quicken Premier or the others reviewed recently? If so, I'll download a trial copy and compare for my needs with other candidates. I am still bumbling along with the defunct Microsoft Money until I have the time to decide on a replacement and make the switch. It is also time to replace my PC. I would like to go back to using a Mac. The main reason I switched to PC was the lack of financial s/w for the Mac. Now that Mac's run Windows too, that is not so a big an issue.

Rick from TX posted over 3 years ago:

I won't be buying software from the Windows® only crowd. My experience has been that their software suffers from the same poor design as Windows and IE. I believed the propaganda when I was younger and bought a clunky old PC; I hated it. My first iMac showed me the difference. I'll never go back to Windows.

CNBC and Bloomberg have apps for iPad.

Richard l. from IL posted over 3 years ago:

iBank is a great alternative to Quicken. It operates differently and doesn't match every feature, but is quite comprehensive. I would definitely recommend a (free) trial. Setting up automatic transaction downloading (for both bank and broker transactions) is straightforward, so it's easy to get some into the app so you can see how it works.

I'm a Chase customer and have never had problems downloading transactions, FWIW. A friend uses it, too, with similar results. It sounds like Joe Lan's experience may be an exception, not the rule.

I use iBank primarily for checking and credit card accounts.

I like the version 3 of the software better than the current, v4, software for investments because v3 has a Notes field that shows up in transactions and in a current portfolio list, but v4 doesn't. I find it useful for tracking investment decisions, stop orders, etc. I've found StockMarketEye an even better app for investments, partly because it offers Notes and has superb charts.

R from CA posted over 3 years ago:

A month ago I was looking for a Mac program that would track my investments (including downloading transactions). iBank was the first alternative I found, but the reviews I read indicated the MoneyDance was a much better alternative for investments. MoneyDance is written in java so can be used on Windows or Mac OS.

Nola from CA posted over 3 years ago:

We have been using iBank for over a year and find that it's an excellent option for Mac - especially now that Quicken no longer supports investment transactions in the latest Mac operating systems.
One feature of iBank that is not mentioned in the review above (and not highlighted in the iBank instructions) is that you can easily download many investment reports (for example, a list of your Portfolio, or a Category Detail listing) into Excel by opening an empty Excel worksheet, clicking on the report and just dragging it into the Excel worksheet. (Quicken is counterintuitive too, but in a different way: it requires you to print a report and then select Excel as a print option.)
One way in which iBank is superior to Quicken: Quicken keeps making you buy an update every 3 years or they won't let you download securities prices - iBank doesn't put a time limit on that service.
In addition, I have found that when I had questions about iBank, they give excellent e-mail responses.

Robert from SD posted over 3 years ago:

Does anyone have experience with Moneydance versus iBank? I have been using Moneydance on the mac and am pretty satisfied, but it is built for use on either mac or windows so the user interface could be better. I am wondering if it is worth a switch from Moneydance to iBank.

Linda from CA posted over 3 years ago:

Thank you, Joe, for this comprehensive review of iBank. I have only seen an ad for iBank, not a credible editorial review anywhere. I will definitely trial it, along with iBiz for my new start-up business. I suffered for many years using Quicken on my Mac. I look forward to trying iBank.

Charles from CA posted over 2 years ago:

I have been running iBank parallel with Quicken 2007 on a Mac since November 2011. When importing into iBank from Quicken a few records seemed badly stored in Quicken but never seemed to effect any report I generated. Among the weird was unprintable, of course invisible or shown as "?", characters that cause the record to choked in iBank. Operating the two programs in a parallel display permitted the data to be corrected in both programs. I played with nine accounts and it took about 2 hours to get everything to agree.

At one point I combined two brokerage accounts, a journaling with cross referencing to three other accounts. iBank was the easiest of the two, not perfect but fastest to get up.

The most irritating aspect is the date: In Quicken when cursor high lights the Date field the "+/=" and "_/-" keys increments date up or down, starting with the days field and moving onto the preceding or following month. Same for year. This is superior to the iBank process or retyping the entire date. A lot of time is wasted in iBank when the slash separator and other numbers are accidentally erased. I found it very easy to mess up the date when making many entries and have corresponding difficulty in locating where the record ended up in the scheme of things.

I have had to use backup's numerous time with Quicken. The limit on number of prices of a security locked me up several times and Quicken would abort. Quicken's pointers appear to get messed up big time at least once a year and when really bad the easiest solution is to unload the DB, if possible, and create a new DB file. This take valuable time. iBank has been playing nice with me from the start. I make independent backups of both programs data several times a week.

I am continuing the parallel entries as I just do not feel completely comfortable with iBank. I feel I have more variability doing reports in Quicken. I know I may be considered a dinosaur. Change is sometimes an anguish.

Charles from CA posted over 2 years ago:

I expect some critique of my previous Date Field comments.

iBank does not accept "cash" as a entity in a brokerage account thus it is eliminated from many iBank reports. The reason stated is that cash is normally swept into a default cash fund, so identify the fund. True, but that is a passive event that moves dollars back and forth in and out of the cash fund automatically without human intervention or thinking. I do not need to track that cash fund. It becomes monstrous busy work. Just call it cash (without a security symbol). Quicken does this oh so neat! iBank not!

Cal from PA posted over 2 years ago:

So I tried iBank, first download had major problems with blank fields and missing files, second download much better and now matched my OS version but I was now halfway through the free trial period. iBank is still a work in progress; works fine for basic checking and credit card accounts but trying to manage downloaded investment account information is still hit and miss. If it works with your brokerage, lucky you. I've been running Quicken in a virtual PC enviroment for years and I'm sick of it. At this point, I'm working on Quicken's orphaned mac version which is still more competent than current mac products. There are still Quicken problems but I can tweak the mac version and still listen to Pandora and still monitor Mail. Running Quicken in virtual machine just sucks up all your resources - not worth the effort.

Ken Peterson from TX posted over 2 years ago:


Raymond Johnson from TX posted over 2 years ago:

When I was setting up iBank, I contacted JP Morgan and they said it was not possible to download checking information using iBank. I haven't tried since then. I just enter my transactions manually.

I tried to use Quicken 2007, but I gave up. The new way it handles investments was a pain.

L Perna from IL posted over 2 years ago:

Downloaded iBank4 for test driving. I am a multiple decade Quicken user so it is important to me that I be able to import all that financial data. The iBank import was accomplished as described. However, the a major problem immediately apparant was that the transaction dates were not all correct. In fact, probably only 10% of them were accurate. This is unacceptable. I am a heavy user of the "split transaction" feature and I suspect this may be a reason for the mis dates. Visually, it appeared that 90% of the transaction dates were the date I imported the Quicken QIF file.
I also decided to test AceMoney-would not import. Also, MoneyDance that looks like a winner!

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