BillPay Pricing

Neil32@

Sherlock said:

Neil said:

I was told that the bill pay information was ONLY stored on my vault in my Quicken app but I was also told that I can go to a web site and pay bills.  If I can pay bill bills from a web site without using my app then the bank login name and password must be stored someplace on a quicken web site.  

Am I wrong or am I missing something?

We may access a financial institution's bill pay web site with a browser using credentials we have memorized or that we maintain in a password manager of our choosing.

Since I will be using Schwab which means that I will be using the third party Bill Pay, is there an option for me to disable the ability to pay bills on the web so that my login information for the Schwab bill pay is not stored anyplace on the web (still allowing me to pay bills using the Quicken app?

Neil32@

ps56k said:

Neil said:

Thanks for the payment info, what about the storage of login information on a web cloud some where?

If you choose to use the Quicken Password Vault -
that it used during Quicken One Step Update - and basically fills in the passwords... which of course then downloads any transactions AND upload any Bill Payment entries for future processing.

Of course the Quicken Password Vault has nothing to do with you manually logging into a bank/investment online website.

By saying login info on the web, I was saying that since there is the ability to login to Quicken BillPay web site and pay bills from there, that web site must store login information.

Ps56k2

Here's some reading and homework -

https://www.quicken.com/support/how-quicken-bill-pay-works

https://web.quickenbillpay.com/csp/CSPServlet/MemFASignup?brId=7511&eventName=MemFASignupRSEvent

Jim_Harman

The Quicken Bill Pay service (run by Metavante Payment Services LLC) will store the names, addresses, and account numbers for your payees on their servers, just like your bank's bill pay service would. It will also store your account information for the bank account(s) that the payments are charged to. You authorize them to take money out of your bank account to cover your payments. It does not need the credentials you use to log into your bank's website.

If someone were to steal your credentials for Quicken Bill Pay, they could log in there and make payments that would be charged to your bank account. Presumably QBP has controls in place (encryption, 2-factor authentication, emailing you when new payees are added, etc.) to make this unlikely.

Always use strong passwords!

Sherlock

Neil said:

Sherlock said:

Neil said:

I was told that the bill pay information was ONLY stored on my vault in my Quicken app but I was also told that I can go to a web site and pay bills.  If I can pay bill bills from a web site without using my app then the bank login name and password must be stored someplace on a quicken web site.  

Am I wrong or am I missing something?

We may access a financial institution's bill pay web site with a browser using credentials we have memorized or that we maintain in a password manager of our choosing.

Since I will be using Schwab which means that I will be using the third party Bill Pay, is there an option for me to disable the ability to pay bills on the web so that my login information for the Schwab bill pay is not stored anyplace on the web (still allowing me to pay bills using the Quicken app?

Using Schwab doesn't mean you will be using Quicken Bill Pay.

You do not need to issue online payments from within Quicken.  You may issue online payments from any bill payment service you choose to use.  Any online bill payment service you choose to use will maintain your data for the payment service external to Quicken.

Unless you feel it is necessary to issue the online payments from within Quicken, I suggest you still consider using the bill payment services provided by your financial institutions instead of using Quicken Bill Pay.

Neil32@

ps56k said:

Here's some reading and homework -

https://www.quicken.com/support/how-quicken-bill-pay-works

https://web.quickenbillpay.com/csp/CSPServlet/MemFASignup?brId=7511&eventName=MemFASignupRSEvent

Thanks

Neil32@

Jim_Harman said:

The Quicken Bill Pay service (run by Metavante Payment Services LLC) will store the names, addresses, and account numbers for your payees on their servers, just like your bank's bill pay service would. It will also store your account information for the bank account(s) that the payments are charged to. You authorize them to take money out of your bank account to cover your payments. It does not need the credentials you use to log into your bank's website.

If someone were to steal your credentials for Quicken Bill Pay, they could log in there and make payments that would be charged to your bank account. Presumably QBP has controls in place (encryption, 2-factor authentication, emailing you when new payees are added, etc.) to make this unlikely.

Always use strong passwords!

Thanks, this does confirm that my login information is stored on the web on some server someplace and therefore, I think for now I will not use Quicken Bill Pay