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Anyone else concerned about their transaction data sharing with Quicken

Dayton7705

I am really perturbed about the new Chase Bank interface to Quicken. I have no intention of "Share" my transactional data with Quicken or anyone else except the bank itself.

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splasher

If you don't like the concept of Express Web Connect (data being collected by a data aggregator for later retrieval by user), then your only choice is to use Web Connect (you log into the FI's website and manually download a file) to import your transactions.

It was Chase's decision to drop Direct Connect downloads, not Quicken, if you don't like it, express your perturbedness by complaining to Chase.

Personally, I won't use EWC, but I don't have much control over the decisions made by FIs.

Ps56k2

Dayton7705 said: I am really perturbed about the new Chase Bank interface to Quicken. I have no intention of "Share" my transactional data with Quicken or anyone else except the bank itself.

HUH - were you already using Quicken to download transactions from Chase ?
If so, was it using Direct Connect or Express Web Connect - both using Quicken One Step Update -
OR... were you manually downloading transactions from the Chase online website -

TTSguy

I would encourage anyone who has never tried using a Credit Union to try it. Credit Unions are generally not profit, so a lot of savings are passed on. I have no fees, issues with quicken, and even my ability to go in and download old transactions all the way back 1 year. (not 90 days)

Look at how many posts there are with banks involved with issues, then take a look at how many Credit Unions you read about on quicken having user issues, No monthly fees on accounts, mine has NO fees that I know of on anything. Just go online and read about and compare. You can save a lot of money, and a lot of issues. I've been using Premier Member Credit Union since 1967, and with Quicken since 2004 and have never had any issues using Quicken with my credit union.

I started using Web Connect instead of Express Web connect, and since have had no issues downloading my transactions since (with Sync) turned off. That in itself shows me that the problems come mostly from the banks and quicken. There's a lot of info online about Credit Unions, and ask around from your friends, and the ones that have Credit Unions will tell you how great they are and how pleased they are with them. Many even have better rates of return also.

Dayton7705

Maybe I'm misinterpreting the warning email I'm receiving from Chase.

splasher

Dayton7705 said:

Maybe I'm misinterpreting the warning email I'm receiving from Chase.

What did the contents of that email state?

Dayton7705

Email message: You’ve agreed to share your data with Quicken

Ps56k2

Dayton7705 said: Maybe I'm misinterpreting the warning email I'm receiving from Chase.

I think you are getting hung up on the sematics and usage of the word "sharing" -
as in.... do you want to "download" your transactions to Quicken -
as in.... do you want to "share" your data with Quicken

Chris_QPW

This explanation of what each of the different connection types might help (link below), but let's cut to the chase about Express Web Connect and "sharing".

Your transactions will spend at least "some time" on both Intuit servers and Quicken servers when you use Express Web Connect (and that includes Express Web Connect +). How long has never been published, leaving one to guess. In the case of Intuit servers numbers like 30 or 60 days have been thrown out.
In the case of the Quicken servers it gets even murkier. The link between Quicken (the program) and the Quicken server is in fact "Sync". Sync is normally called Sync to Mobile/Web, but that is really misnomer. It is sync from Quicken Desktop's data file to the Quicken Cloud dataset. Mobile/Web are just GUIs for that Quicken Cloud dataset. The only thing I can find that is different between the syncing for Express Web Connect (including attachments) and the sync for Mobile/Web is that with Express Web Connect you have not given permission for the Mobile/Web apps to access the data.

So, the question comes up how long will the Quicken server/dataset hold on to the transaction data that has been download through Express Web Connect? Without Quicken Inc stating that I have to believe that the sync is entirely the same between Express Web Connect and Mobile/Web use with the exception of allowing the apps to access it. So, looking at what we know for how long it is held for the purpose of Mobile/Web which is it never removes any transactions downloaded unless you delete them out of your data file or reset the Cloud dataset.

EDIT: I forgot to state. "Sharing" with either Intuit or Quicken Inc doesn't imply either of them will use that information for any other purpose other than for you to get those transactions in Quicken. At least not in a "clear format". Quicken Inc's policies clearly state that they can share "aggregate/non user identified" data. Whether they actually do that or not, no one is going to be able to tell you.

https://community.quicken.com/discussion/7916268/my-explanation-of-the-different-term-services-that-quicken-has-provides-and-provided-in-the-past

Chris_QPW

BTW for the suggestion that one might complain to Chase (or Quicken Inc for that matter). It will be about as affective as standing in front of dam that has burst with a spoon trying to redirect the water into a different direction.