Yes, you can upgrade from iBank 2 to iBank 5. First, you will need to upgrade your iBank 2 data to iBank 3 (make sure to use iBank version 3.5.7). The trial version of iBank 3 will work fine; you do not need to purchase iBank 3. You can download and install the iBank 3 trial using the following link: http://www.iggsoft.com/ibank/iBank3_Web.dmg
Upgrading your iBank 2 data to iBank 3 is covered in detail starting on page 11 in the iBank 3 manual: http://www.iggsoft.com/manuals/iBank_3_Manual.pdf
Once you have your data saved in an iBank 3 Document file, you can then upgrade your iBank 3 data using iBank 5.
Open iBank 5 (download and install iBank 5 first if necessary – http://www.iggsoftware.com/ibank/downloads.php?dl=ibank). When first opening iBank 5 and you will be greeted with “Welcome to iBank 5 – How would you like to get started?” (If necessary, you can go to File> New iBank Document to get back to the “Welcome to iBank 5 – How would you like to get started?” screen).
To upgrade your data from iBank 3 to iBank 5 click on the button labeled “Import from iBank”
In the following screen you will be prompted to “Choose a file to import.” In this screen you can click and drag your iBank 3 Document file to the box labeled “Drag File Here,” then click “Save.”
The following screen “Check out these new features in iBank 5” will provide you some information on the new Direct Access, Bill pay and Budget features. When ready, click “Continue.”
Next, iBank 5 will import your data from iBank 3 – this process may take a few moments, depending on the amount of data you had in iBank 3. Once the import process has completed, a window labeled “We fixed your database” may appear with any changes that were made to your data during the import process from iBank 3. You can choose to “Save Log” if you like or click “OK.” Then at the “Congratulations!” screen, click “Done.”
All of your accounts, transactions, reports, budgets should now appear in iBank 5.
Upgrading is also covered in the “Getting Started” section of the iBank 5 Manual: http://www.iggsoft.com/manuals/iBank_5_Manual.pdf