Why is my Bank Online being Accessed Un-Authorized by Quicken!!!

I get text notification from one of my bank, (my other account does not have that feature,) every time the account is accessed/logged in. When I first setup the accounts, I set up the accounts to not save the passwords, no scheduled updates, and no cloud. After that night, early in the morning for the next few days, I get notification that there was a log in about 6 AM exact time while I am asleep. My computer was off. Thinking maybe my log in was compromised, I first changed all the passwords for all my accounts. I still got that notification the following day. I then changed the log in name. It stopped.


Last night, almost a month later, I have not perform updates other than quotes until then, I perform a account update. It was a pain to change the account name, I had to deactivate/reactivate the account. This morning I got the notification again that my account was logged in but this time exactly at 7 AM. My computer was powered off, not just a sleep.

What is going on? Since the accounts can be accessed by passing the 2-step authentication by Quicken and some other SW, I am very concerned about using Quicken if the login/password gets compromised. I contacted, my bank to verify that is a true login, so far I have no reason to doubt it. 


I can not use the automatic update, but how do I know Quicken is not sending other financial data for "Analytical purposes?" I going to have to review the SW agreement next.

Best Answer

Answers

  • Thank You, the video/page answers my initial question, but what if I don't want Express Web Connect ? It sounds like Direct Connect is  what I want? I want to merely enter the password every time and have my computer directly log in and fetch the data directly. I'm going to deactivate the account and try reactivate and see if there is an option to choose Direct Connect.

    Thanks.
  • Nope, I don't see any option to deselect Express Web Connect when activating or in any other settings. I think I will have to manually download the Quicken files if the bank supports it. 

    What scares me is the fact that the connection between the bank and Quicken does not seem secure for me. When I changed the password on the bank, Quicken still was able to log and get data from the bank. Also, Quicken was getting data which I was not requesting. I have to provide the password to get my account updated. Quicken gets updates daily even after I changed the password.

    Also, I do not want my financial data duplicated on a third party site, (sorry Quicken.)
  • Dan GlynhamptonDan Glynhampton SuperUser ✭✭✭✭
    Your other option is to move your accounts to a Financial Institution that supports Direct Connect, but that might not be convenient for you of course.    
    US Quicken Deluxe for Windows 2019 R18.16 on Windows 10 Pro v1809
  • Well, that means 2 banks for me. Also my other banks credit cards, but CC are not a big concern for me. Not feasible. I'm not sure If I would renew my subscription at this time. This is a big negative. Also, I'm a Mac person and had to revert to Windows for this program. The good thing is I store the data file on my personal server and can periodically re-import the file into the Mac if I want the data daily for reference.

  • I've decided to enable it for only one of the bank and credit cards, the one with all my bill pay which has a small balance. I have to have some trust in Quicken, that is why I'm willing to pay for the service rather than get a free or little known developer.
Sign In or Register to comment.