Direct Connect vs Web connect
in [Quicken]
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From: Targ on 5 Mar 2010 15:32 In alt.comp.software.financial.quicken, John Pollard wrote: >Targ wrote: >> In alt.comp.software.financial.quicken, John Pollard wrote: >> >>> >>> >>>> Is there a way in Quicken that you can tell that you are doing >>>> direct connect rather than going thru Yodlee? >>> >>> Quicken doesn't use Yodlee (but Intuit has it's own Yodlee >>> equivalent, called "Express Web Connect"). >> >> Thanks for the info. Can you say where that is located? > >I don't believe there is anyplace you can access the capability >independent of Quicken's Express Web Connect. I was wondering if your credentials were being sent to Mountain View, Kiev, or Mumbai. <snip> >> Can I somehow tell before providing my broker/bank credentials >> whether it is Direct Connect or is going to Quicken's aggregation >> servers? > >Maybe, maybe not. If the financial institution is only listed as >providing Web Connect downloads (and assuming that is correct), your >*best* possible connection will be Express Web Connect (the fi has to >offer that as well, and I don't know how to tell ahead of time whether >they do). Are you saying "the FI has to offer [Express Web Connect] as well", or are you saying "the FI has to offer [Direct Connect] as well"? Isn't EWC a screen scraper? In that case, the FI does not necessarily knowingly participate, right? > But if they do not offer Direct Connect, EWC is the best >connection possible with that if ... but even if they offer EWC, you do >not have to use it (in almost all cases ... Paypal may be an exception). *best* for me may be different than best for somebody else. If FIs had separate passwords for read access of accounts than the passwords used to transfer money, I would be less averse to non-direct handling. Whether my concerns are valid or paranoid, I think that the EWC is really convenient for other people. My action may be to set up an FI that I think has direct. After sharing my credentials, check to see if it turned out to be web connect. If it is web connect, quickly change my password at the FI.
From: Targ on 5 Mar 2010 15:55 In alt.comp.software.financial.quicken, Han wrote: > >Thanks for the explanation of how Mint/Intuit works. However, I thought >you were asking about how Quicken/Intuit works, and I do not think that >Yodlee is involved, at least in the recent past. What will happen in the >future is still under the veil of the gods ... I was asking how Quicken works. I had apparently made some incorrect extrapolations. Thanks for your insights.
From: ps56k on 5 Mar 2010 17:53
Targ wrote: > In alt.comp.software.financial.quicken, Han wrote: > >> >> Thanks for the explanation of how Mint/Intuit works. However, I >> thought you were asking about how Quicken/Intuit works, and I do not >> think that Yodlee is involved, at least in the recent past. What >> will happen in the future is still under the veil of the gods ... > > I was asking how Quicken works. I had apparently made some incorrect > extrapolations. Thanks for your insights. never really heard of or used Mint - just read about the acquisition the same for Yodlee - Intuit/Quicken makes MONEY by charging the FI's to use Direct Connect - |