Auto connection to bank accounts without permission

Marc63

I have used Quicken on and off for many years. I don't like my data or passwords being stored in the cloud. I bought Quicken for Mac a few years ago and I love it. The version of Quicken that I have says that it doesn't save any of my information in the cloud, but I'm questioning that. With that being said, earlier this year after updating my password to my bank accounts and adding notifications to when someone accesses my accounts online, I noticed that someone would log into my account at different times during the day, and it was not me or my wife. I changed passwords again and it stopped until I updated the passwords in Quicken. The IP address was coming from an Amazon server each time they logged in. I changed passwords again and the access stopped. I tested this a couple of times and the results were the same. I want to know why Quicken is accessing my accounts when I did not tell it too, and why is it coming through an Amazon server? Also, I downloaded my transactions from my accounts and tried to import them and Quicken would not recognize them and force me to give them the login information.

Mark1104

I can't answer specifically, but I suspect that Qucken is using AWS (Amazon Web Services) for its cloud server......

Marc63

Thank you I suspected that is the case. My concern is the accessing my accounts without me telling it to do so and it also being stored in the cloud. I guess I'm going to have to look for a non-cloud storage program.

Chris_QPW

Are you syncing to Mobile/Web?

Marc63

I only sync via web, never mobile.

Chris_QPW

Marc63 said:

I only sync via web, never mobile.

It doesn't matter which you sync to.  What happens is that you sync to the "Quicken cloud data set/server".  And the Web/Mobile are basically just GUIs for that data.  The "Quicken cloud data set/server" updates the data by downloading from the financial institutions at least once a day (more if you log into the web/mobile interfaces, and/or update from there).

So you have given the Quicken server the "authorization" to store your usernames and passwords for this purpose.

Marc63

Thank you. I assume there is no way around this?

Marc63

I would like to download the data and import it myself, but Quicken is not letting me do that with my financial institution.

NotACPA

Marc63 said:

I would like to download the data and import it myself, but Quicken is not letting me do that with my financial institution.

But, But, But, Q Web gets data from the cloud, which synchs to your FI.  Your statements simply contradict themselves.  If Q desktop can't connect, then neither can Q Web.

Please elaborate.

Chris_QPW

If you want to avoid all possibilities of your usernames/passwords being stored on a server you have to:

1. Stop using Quicken Mobile/Web/Syncing to them.
2. Quicken Connect is "questionable".  I know what the documentation says, but at least on the Windows side with Express Web Connect, they are definitely stored on the server.
3. Use only Direct Connect or Web Connect (which is manually downloading/importing a QFX file).

If QFX files aren't available there are converts available.  Search for "csv2qfx mac".

Marc63

So, one of the banks allows me to import data just fine, but the other bank that I use doesn't give me the option to direct connect or web connect to manually import. I even tried to setup a new account and it still doesn't allow me to do change to web connect.

Chris_QPW

Marc63 said:

So, one of the banks allows me to import data just fine, but the other bank that I use doesn't give me the option to direct connect or web connect to manually import. I even tried to setup a new account and it still doesn't allow me to do change to web connect.

What connection types are available is up to the financial institution, and not all of them support Web Connect.  The way the CSV2QFX converts get around this is by faking using a financial institution's information from one that does support Web Connect.

Marc63

I apologize for the miss understanding. The options are: Quicken Connect, Direct Connect and Enter Transactions Manually. Web Connect is not available and yet my bank allows me to download a .QFX file. I have imported these files before from this bank, but not anymore.

Chris_QPW

Direct Connect doesn't put your username/password on any server, so that would be "safe to use".

Direct Connect is Quicken talking directly to your financial institution's "OFX server" using the OFX protocol.  No other servers are involved.

Marc63

Thanks. I'll and reset up the account.