Quicken Cloud / Mobile App - actually accesses your accounts "real time"

Ps56k2

(post the same question in both the - Mobile App and the Web Access)

I was curious about the Quicken Cloud and using the Mobile App - so setup a test QDF file and did the appropriate tasks to select some accounts, Sync, and then look at things from the Quicken mobile App.
NOTE - I just did the setup and Sync - ONCE - and never opened the QDF file again.
Here is what I noticed.

The Mobile App (and the Quicken Web Access) have some screen displays by topic.
- Banking & Credit Cards (**)
- Recent Transactions (**)
- Top Trending
- Spending over Time
- Net Income over Time
- Month Summary
- Investing (++)
- May(month) Budget

I was expecting for things to be "static" based upon the last Sync from the desktop software.
This is only partially true....
The items with the (**) are updated in REAL TIME - and therefore, somehow, are actually accessing our banking accounts.  This implies that the Quicken Cloud has somehow captured and retained our online banking User ID and password.

It appears that the Investing (++) screens only have avail the Security List and number of shares owned - but updates the display with the current price quote .... but no transactions -

SO - I was not expecting that the Quicken Cloud would capture, retain, access, and use our banking User ID and password -

Quicken Sarah

Hello @ps56k

Yes, the Quicken Cloud will automatically download transactions from your banks, if the account is activated for downloads in the desktop version of Quicken.

When selecting accounts to add for syncing with the Quicken Cloud, any account selected that is active for downloading will require the password for the account to be entered during the set-up.



More information on the Quicken Cloud is also available at https://www.quicken.com/support/what-quicken-cloud.

I hope this information helps and please let us know if there are further questions/concerns.

Thank you,

Sarah

Quicken Sarah

Hello @ps56k

Yes, the Quicken Cloud will automatically download transactions from your banks, if the account is activated for downloads in the desktop version of Quicken.

When selecting accounts to add for syncing with the Quicken Cloud, any account selected that is active for downloading will require the password for the account to be entered during the set-up.



More information on the Quicken Cloud is also available at https://www.quicken.com/support/what-quicken-cloud.

I hope this information helps and please let us know if there are further questions/concerns.

Thank you,

Sarah

Ps56k2

Quicken Sarah said:

When selecting accounts to add for syncing with the Quicken Cloud, any account selected that is active for downloading will require the password for the account to be entered during the set-up.

When I did that - I didn't really think about the WHY the password was requested.-

I have seen a couple of discussions about NOT wanting to use the Cloud, since the banking "credentials" were being stored, and therefore open to potential hacking.
Just wanted to walk the talk -