Quicken Wants Passwords to Our Accounts - Should We Provide Them?

Discussion in 'Computers' started by George Costanza, Mar 29, 2010.

  1. George Costanza
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    George Costanza A Friendly Liberal

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    The other day, I bought the basic version of Quicken. I wanted to organize my finances and keep track of a number of accounts we have.

    I loaded it onto my computer and started in. The second thing they want you to do (after registering the software, of course) is provide the online passwords to all of your accounts, i.e., checking, savings, retirement, brokerage house accounts, etc. The idea is that, once you do, Quicken will then be able to download all of the information into the program so that the program can then organize the information and display it in various formats (graphs, charts, etc.) in a way that will allow you to manage your accounts.

    I am more than a little apprehensive about forking over online passwords to our bank accounts, retirement accounts and, least of all, our brokerage accounts. If those passwords were to fall into the wrong hands, we could be ruined - literally.

    Has anyone else been faced with this problem? How did you resolve it? What do you think about the advisability of providing this kind of information to a Web site maintained by a company such as the company behind Quicken?
     
  2. Mr. H.
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    Mr. H. Diamond Member

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    I'm still using Quicken Basic 2000. Never did any online stuff with the thing- never would.
     
  3. Immanuel
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    Immanuel Gold Member

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    I would not provide that information.

    If you can't download that data yourself then I would not be using that feature at all.

    Immie
     
  4. George Costanza
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    George Costanza A Friendly Liberal

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    Why not?
     
  5. George Costanza
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    George Costanza A Friendly Liberal

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    I'm wondering, though - is this a situation where you are merely inputting the various passwords into the Quicken program on your hard drive and then you have the program seek out the information - you never provide the information to any Web site or anything other than the Web sites for your various accounts, which you do anyway every time you go there to check on your accounts?

    Know what I am trying to say here?

    In other words, the passwords never leave your hard drive - they merely become imbedded in the Quicken program that is also on your hard drive.

    Is that the situation?
     
  6. Mr. H.
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    Mr. H. Diamond Member

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    I track my investments where they reside, like Morgan Stanley and Scottrade, etc.

    Re: your other post- does Quicken have a number you can call with your question? Or maybe there's an FAQ page that addresses security issues.
     
  7. George Costanza
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    George Costanza A Friendly Liberal

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    Oh, me too. I have several Excel spreadsheets which I update at regular intervals.

    But I have yet to get into online banking, and I thought Quicken was the way to do it. I have a pal who says no - you can online bank by dealing directly with your bank (or other institution) at their Web site.

    I know that you can online bank using Quicken (or MSMoney) - but I am beginning to suspect that doing it that way might be overkill.

    Good suggestion regarding phone support for Quicken. I'll look into it.
     
  8. Mr. H.
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    Mr. H. Diamond Member

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    I'm not familiar w/Quicken's advanced features but is there a way to import spreadsheet data?
     
  9. editec
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    editec Mr. Forgot-it-All

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    Oh stop worrrying.

    Nothing can go worng.
     
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  10. del
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    del BANNED

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    i would be very reluctant to provide my passwords to a third party for any reason. i do my online banking directly through their web sites and even then i'm still not completely comfortable.
     

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