Quicken 2014 oddities


D

David Arnstein

I just installed Quicken Premiere 2014. Two odd behaviors caught me by
surprise.

First, I could not do a one step update without creating an intuit.com
username/password. I will never store my financial data on intuit.com
or anythingelse.com, so I am not pleased with this behavior.

Second, after I installed the program, Windows 7 posted a yellow warning
message for me. THe message advised me to create a backup key for my
encrypted file system (EFS). I certainly do not use Microsoft EFS.
Perhaps Quicken does, but I could not find evidence of this.

The second behavior (above) is something that I would really like to
understand. Any ideas?
 
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J

John Pollard

"David Arnstein" wrote

I just installed Quicken Premiere 2014. Two odd behaviors caught me by
surprise.

First, I could not do a one step update without creating an intuit.com
username/password. I will never store my financial data on intuit.com
or anythingelse.com, so I am not pleased with this behavior.
 
D

David Arnstein

If you use Express Web Connect to download from any of your financial
institutions, or you use the new Quicken mobile app.; you do store your
financial data on Intuit's servers.
Whoa! Whoa! Whoa! Now I am concerned.

In Quicken, I do a daily "one step update." I enter passwords
separately for each brokerage and bank that I update. In other words,
I don't even allow my local copy of Quicken store my passwords.

Is it still the case that Intuit possesses all of the transactions in
my bank and brokerage registers?

I certainly do not use the new Quicken mobile app. I don't know if I
use Express Web Connect. Is it the same as "one step update?"

More generally, now can I download data from banks and brokerages
without using Express Web Connect? I hope I am already doing that!
 
J

John Pollard

"David Arnstein" wrote

If you use Express Web Connect to download from any of your financial
institutions, or you use the new Quicken mobile app.; you do store your
financial data on Intuit's servers.
Whoa! Whoa! Whoa! Now I am concerned.

In Quicken, I do a daily "one step update." I enter passwords
separately for each brokerage and bank that I update. In other words,
I don't even allow my local copy of Quicken store my passwords.

Is it still the case that Intuit possesses all of the transactions in
my bank and brokerage registers?

I certainly do not use the new Quicken mobile app. I don't know if I
use Express Web Connect. Is it the same as "one step update?"

More generally, now can I download data from banks and brokerages
without using Express Web Connect? I hope I am already doing that!
---------------------------------------------------------------------

There are 3 download methods in Quicken: Direct Connect, Web Connect, and
Express Web Connect.

To see which method each account is using, see the "Transaction Download"
column in your Account List. Or look on the Online Services tab in the Edit
Account Details dialog for the account.

Whether you can/do use Express Web Connect is a matter of what download
methods are available for your financial institution, and which one of those
methods you choose. Paypal, for example, only offers Express Web Connect
downloads. BofA, on the other hand, offers all 3 methods (but Direct Connect
costs money with BofA).

If you use Direct Connect or Web Connect; nothing is stored on Intuit's
servers.

But if you use Express Web Connect, your logon credentials and your
financial institution data are stored on Intuit's servers - because Intuit
logs on to the financial institution web site overnight (as if it were you
manually logging on) to get your data, then when you "download", you're
getting the data from Intuit's server.

And, yes, Express Web Connect downloads are usually done with One Step
Update (as are Direct Connect downloads).
 
D

David Arnstein

John,

Thank you for patiently explaining the situation. It turns out that I
am in good shape. No express web connect's.

I saved your email for future reference!
 
K

Kobac

There are 3 download methods in Quicken: Direct Connect, Web Connect,
and Express Web Connect.

To see which method each account is using, see the "Transaction
Download" column in your Account List. Or look on the Online Services
tab in the Edit Account Details dialog for the account.

Whether you can/do use Express Web Connect is a matter of what download
methods are available for your financial institution, and which one of
those methods you choose. Paypal, for example, only offers Express Web
Connect downloads. BofA, on the other hand, offers all 3 methods (but
Direct Connect costs money with BofA).

If you use Direct Connect or Web Connect; nothing is stored on Intuit's
servers.

But if you use Express Web Connect, your logon credentials and your
financial institution data are stored on Intuit's servers - because
Intuit logs on to the financial institution web site overnight (as if it
were you manually logging on) to get your data, then when you
"download", you're getting the data from Intuit's server.

And, yes, Express Web Connect downloads are usually done with One Step
Update (as are Direct Connect downloads).
Wow, John , this is really eye-opening, at least to me. I never knew
that Intuit servers were involved in Express Web Connect. I always
assumed (dangerous word) that, when I downloaded transactions, they came
directly from the institution to my PC.
 
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K

Kobac

Wow, John , this is really eye-opening, at least to me. I never knew
that Intuit servers were involved in Express Web Connect. I always
assumed (dangerous word) that, when I downloaded transactions, they came
directly from the institution to my PC.
Note that when I mentioned downloading transactions in this particular
instance, I'm referring to going to the institution's website and
downloading directly from their website, which is why I assumed that
intuit servers had no part in the transaction.
 
J

John Pollard

"Kobac" wrote

Note that when I mentioned downloading transactions in this particular
instance, I'm referring to going to the institution's website and
downloading directly from their website, which is why I assumed that
intuit servers had no part in the transaction.
-------------------------------------------------------------

When you manually logon to the financial institution's web site and initiate
a download, you are performing a "Web Connect" download. Intuit/Quicken only
get involved with those downloads during the verification that the
downloaded data is from a valid financial institution ... none of your
data/logon-information is stored on any Intuit servers.

"Express Web Connect" on the other hand, does store your data and your
user-id/password on Intuit's servers. To accomplish Express Web Connect
downloads, Intuit computers logon to your financial institution as if they
were you logging on (once every 24 hours, or so - or less frequently, as
permitted by the financial institution), and download your data to Intuit
servers ... where it awaits your One Step Update to pull it down to your pc.
 
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K

Kobac

"Kobac" wrote

Note that when I mentioned downloading transactions in this particular
instance, I'm referring to going to the institution's website and
downloading directly from their website, which is why I assumed that
intuit servers had no part in the transaction.
-------------------------------------------------------------

When you manually logon to the financial institution's web site and
initiate a download, you are performing a "Web Connect" download.
Intuit/Quicken only get involved with those downloads during the
verification that the downloaded data is from a valid financial
institution ... none of your data/logon-information is stored on any
Intuit servers.

"Express Web Connect" on the other hand, does store your data and your
user-id/password on Intuit's servers. To accomplish Express Web Connect
downloads, Intuit computers logon to your financial institution as if
they were you logging on (once every 24 hours, or so - or less
frequently, as permitted by the financial institution), and download
your data to Intuit servers ... where it awaits your One Step Update to
pull it down to your pc.
The confusing bit is that, when I'm in Quicken and press CTRL-A to bring
up my accounts, in the "Transaction Download" column opposite my bank
account, it says "Yes (Express Web Connect)".

Perhaps that means that it is capable of downloading directly from
Quicken if I wish to do so, but I always log on directly to my bank's
website to download - I never do it from within Quicken. I do that for
some credit cards, however. Some of those have a listing in the
"Transaction Download" column the same as my bank account, but some say
"Yes (Direct Connect)".
 

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