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Software · head to head

Banktivity vs TransferWise

Banktivity logo

Banktivity

Software

Personal finance for Mac and iOS

From
On request
Rated
-
Full reviewWebsite
TransferWise logo

TransferWise

Software

The cheapest way to send money abroad

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only TransferWise has a free tier, so it costs nothing to try first.
  • Each has a real cost: Banktivity runs on macOS, iPhone and iPad only, with no Windows, Android or web version; TransferWise wise Card only available in selected countries, excluding major markets like UK
  • They diverge on capability: Banktivity covers Account tracking, TransferWise covers International transfers.

Where they differ

Only the attributes on which Banktivity and TransferWise actually diverge.

Attributes where Banktivity and TransferWise differ
AttributeBanktivityTransferWise
Starting priceOn requestFree
Pricing modelsubscriptionUnknown
Free tierNoYes
PlatformsMac, IOSWeb, iOS, Android
Founded20072011

Identical on both: user rating (Not yet rated), category (Unknown).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Banktivity

  • Account tracking
  • Bill management
  • Investment tracking
  • Budget forecasting
  • Investment accounts
  • Mac support

Only in TransferWise

  • International transfers
  • Real exchange rates
  • Currency conversion
  • Multi-currency accounts
  • Web support
  • Android support

Both cover

  • Bank accounts
  • IOS support

What people use each for

The jobs each tool is most often brought in to do.

Banktivity

  • Personal budgeting and money management on a Macnot TransferWise
  • Investment and net worth trackingnot TransferWise
  • Retirement planning projectionsnot TransferWise
  • Connecting to over 14,000 financial institutionsnot TransferWise

TransferWise

  • Budget Managementnot Banktivity
  • Expense Trackingnot Banktivity
  • Investment Trackingnot Banktivity

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Banktivity

  • Runs on macOS, iPhone and iPad only, with no Windows, Android or web version
  • Pricing is not shown on the product page and sits behind a separate plans page

TransferWise

  • Wise Card only available in selected countries, excluding major markets like UK
  • Mid-market rate is still 0.33-0.5% plus spreads higher than interbank rates
  • Business accounts have additional requirements and higher minimums

Pricing, plan by plan

Banktivity

On request
  • Monthly$4.99/month
    • Full feature access
    • Cloud sync
  • Annual$39.99/month
    • All monthly features
    • Discounted rate

TransferWise

Free
  • Personal AccountFree
    • Free account opening
    • Transfer in 40+ currencies
    • Mid-market exchange rates
  • Transfer fees$undefined/per-transfer
    • Transparent fees shown upfront
    • Average total cost 0.5-1%

Which should you pick?

Choose Banktivity if

  • You need account tracking.
  • You work on Mac, IOS.
  • You also want bill management.
Banktivity review

Choose TransferWise if

  • You need international transfers.
  • You want to start without paying.
  • You work on Web, iOS, Android.
  • You also want real exchange rates.
TransferWise review

Questions people ask

Is Banktivity or TransferWise better?
Neither clearly leads. Banktivity starts at On request and TransferWise at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Banktivity or TransferWise?
TransferWise has a free tier; the other does not. Paid plans start at On request for Banktivity and Free for TransferWise.
Does Banktivity or TransferWise run on more platforms?
Banktivity runs on Mac, IOS. TransferWise runs on Web, iOS, Android.
Can I use TransferWise for free?
Yes. TransferWise has a free tier, so you can try it without paying. Banktivity starts at On request.
What is Banktivity best used for?
Banktivity is most often used for personal budgeting and money management on a mac, investment and net worth tracking, retirement planning projections, connecting to over 14,000 financial institutions. Of those, personal budgeting and money management on a mac and investment and net worth tracking are not what TransferWise is typically brought in for.
What can Banktivity do that TransferWise cannot?
Banktivity covers Account tracking, Bill management, Investment tracking, Budget forecasting. TransferWise covers International transfers, Real exchange rates, Currency conversion, Multi-currency accounts. Both handle Bank accounts, IOS support.

Answered from the vendors’ own pages

TransferWise: How much does Wise charge for transfers?

Wise charges a small fee (typically 0.33% to 0.5% of transfer amount) plus shows you the mid-market exchange rate. Total costs are usually 0.5-1% compared to banks charging 3-6%.

Source
TransferWise: Can I open a Wise account for free?

Yes. Opening a Wise personal account is free with no monthly or annual fees. You only pay when you actually make a transfer.

Source
TransferWise: How many currencies does Wise support?

Wise allows you to hold and exchange money in 40+ currencies, and send payments to 160+ countries with spending available in 150+ countries.

Source
TransferWise: Does Wise offer a debit card?

Yes. Wise Multi-Currency Card is available in selected countries including Australia, Brazil, Canada, Japan, and others. It uses mid-market exchange rates and has no annual fee.

Source
TransferWise: How does Wise work without traditional banking?

Wise holds local bank accounts in each country it operates. When you send USD to EUR, Wise receives your dollars in the US and releases euros from its local European account to your recipient.

Source
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Related pages

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