Actual Budget vs Wallet by BudgetBakers

Actual Budget is a privacy-focused finance app built around envelope budgeting. It lets users assign only cash they have on hand, manage split transactions and transfers, and track bills and net worth. The app stores data on the local device and a selected Actual server, and it works without a network connection. Reports include net worth and cash flow, alongside a custom report engine, and users can export reports. Actual imports QIF, OFX, QFX, CAMT.053 and CSV files. Bank syncing requires actual-server and credentials from a chosen provider, and automatic syncing is off by default. Optional end-to-end encryption prevents the server from accessing encrypted budget data, but it does not cover bank sync tokens; losing the encryption password without a local copy means the encrypted data cannot be recovered. Desktop clients are available for Windows, macOS and Linux, with web access and several self-hosting options. The free, MIT-licensed plan costs nothing.

Wallet by BudgetBakers is a personal finance tracking and budgeting tool for Android, iOS, and web. It is not a bank and does not hold funds, send payments, or withdraw cash. Users can set category spending limits, receive overspending alerts, use AI-powered category assignment, and choose among multiple budget types. Wallet says it connects to over 15,000 financial institutions for transaction syncing and balance updates. It supports multiple currencies with automatic exchange-rate calculations, and imports historical records in CSV, XLS, or OFX formats. The mobile app lists real-time notifications, quick expense entry, receipt scanning, and offline mode. The web app lists analytics, bulk operations, report export, and multi-tab support. Premium includes Group Sharing for household expenses and savings goals, with control over shared accounts; its REST API provides access to transactions, accounts, budgets, and goals. BudgetBakers says bank access is read-only, and describes GDPR compliance and a right to data deletion. Wallet has a free plan, and a free trial is listed.