updated 06:30 pm EDT, Wed June 27, 2012
Version for iOS can function as standalone or companion app
After an unsubtle tease and open admission of testing on its company blog, IGG Software has formally unveiled its long-awaited iPad version of iBank, the company's personal financial-management software. The iPad version introduces a new subscription service that allows instant background updates of account balances from thousands of worldwide financial institutions, scheduled budgeting and can function as a standalone app without need of the desktop version.
The company had previously released an iOS-oriented iBank Mobile program ($5), but it was always intended as a companion app to the desktop version of iBank, using synching to let users enter transactions and check balances on the go. The new iPad app is a standalone version of the program that can work in harmony with the desktop version but doesn't rely on it. The program features a new re-designed interface based on the idea of "books" as in accounting books, one for each account, as well as other types of finances, such as budgets, transactions and investments.
The new Direct Access subscription service costs $5 per month or $40 per year (after a one month free trial) and can use either Wi-Fi or cellular data connections to update information in the background for up-to-the-minute balances, activity and other analysis. Owners of the latest version of the desktop iBank (4.5) can use the iPad version without further charges by syncing through Wi-Fi or a WebDAV connection.
The program's centerpiece, however, is its budgeting capability. Regular income and bills can be entered, transactions automatically added via Direct Access, and users can see at a glance current performance or track their spending by assigning categories. Targets (such as savings goals or desired investment yields) can be set and compared at any time.
Users with investments can review trades, positions, gains (or losses), current market value, historical performance and more. The program features automatic updating of portfolios, and users can get details on particular securities by tapping them. No third-party services are involved with the iPad version, and financial records are not accessed by IGG for any reason. The company says it also does not sell or otherwise share its customer information with marketers or any third parties.
The program supports multiple currencies, the ability to move "books" between devices, iCloud backup support, password protection for individual books and full manual editing and entry. Users have complete control and can split, re-organize or reconcile transactions at will. The iPad iBank app requires iOS 5 and the iPad 2 or newest iPad, features Retina graphics and works in either portrait or landscape modes.
The new iBank for iPad costs $15 and is available from the App Store now. To celebrate the release, IGG is also discounting new sales of the desktop version of iBank, which normally retails for $60. Through July 8, customers can purchase it from either the Mac App Store or the IGG Software website for $50. Users who are upgrading from a previous version should purchase through the IGG site to get the further-discounted upgrade price.