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Quicken Cloud?

Jerry2

I use Quicken on my Window laptop precisely because I do not want my financial data on the web. Yet, when I download my transactions from the financial institutions, I see the notice about synchronizing with the Quicken cloud.

Why is that? Is Quicken uploading my data to the web despite my not wanting it there?

Thanks.

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Boatnmaniac

Perhaps the thread at this link will help to explain the situation:

https://community.quicken.com/discussion/7932115/why-is-quicken-uploading-my-data-to-the-cloud

It is important to note that everyone who uses Quicken (beginning with QWin 2014) has a Cloud Account (for each unique data file that is used) and that Quicken does sync with it. But what data is synced with it is largely controlled by the Mobile & Web preference for Sync. Setting Mobile & Web Sync to OFF limits the types and amounts of data that is synced with the Cloud Account. The only way to stop Quicken from syncing with the Cloud Account entirely is to only use Quicken offline with no access to the Internet. But then everything will be manual only and there will be no online services (like downloading transactions, securities prices, program updates, etc.) available.

Boatnmaniac

https://community.quicken.com/discussion/comment/20374974#Comment_20374974

I think this is applicable only if Mobile & Web Sync is first turned ON. If Sync is OFF then you will not get this view or option at all and future accounts added to Quicken will not default to Sync being on for them.

For a number of reasons, unless one really wants or needs the Mobile or Web features to be active, I always recommend that Sync be turned OFF. To keep it on when it is really not needed serves no purpose and actually can cause or contribute to other issues with Quicken's performance.

Boatnmaniac

https://community.quicken.com/discussion/comment/20375007#Comment_20375007

Nothing has really changed since 2014 which is when the Cloud Accounts were cut in…..so 9 yrs ago, or so. The exception is that EWC+ is a new connection method 1st cut in with Schwab about 1-1/2 yrs ago. But the storage of EWC accounts logins and transactions data on the Cloud Account (Quicken/Intuit servers) has been this way since at least 2014, maybe even longer ago than that. So, while this might be new news to you it is not new.

We don't know all the different things that get synced with the Cloud Accounts when Mobile & Web Sync is turned off. But here is a list of some of the key things that I've been able to ascertain:

Installation license verification.
Tells your installation which edition (Starter, Deluxe, Premier, Home & Business) you are subscribed to and which features should be turned on or off.
Confirms the status of your subscription (so Quicken can inform you when it is getting to be time to consider resubscribing or to shut off online services if your subscription has expired).
Uploads the version of the installation and compares that to the current released version (so Quicken can inform you when there is a new version that can be updated to).
Uploads Categories (not the transactions that go with them)….I haven't been able to figure out why this is done, though.
Who are the financial institutions that you are connected with and which ones are connected with EWC/EWC+.
Some (not all) Preferences.

There's probably some other stuff but it is my understanding it's all pretty benign.

If you have EWC or EWC+ connected accounts and do not wish for the login information and financial transactions data to be on the Quicken/Intuit servers then you should perhaps consider deactivating those accounts which will discontinue downloads from them into Quicken.

You can then look into which of those financial institutions support DC (some might charge you a monthly fee) and which of them support Web Connect (manual download of transactions in QFX formatted files that can then be manually imported into Quicken). Not all financial institutions support these other methods. For those that do not support DC or WC, or if you do not want to pay a required monthly fee, you can instead manage those accounts manually.

All comments

Boatnmaniac

Perhaps the thread at this link will help to explain the situation:

https://community.quicken.com/discussion/7932115/why-is-quicken-uploading-my-data-to-the-cloud

[Deleted User]

@Jerry2 - other things you can do to lessen your "exposure" to the cloud:

Go to the "Moble & Web" tab and check if "Sync to cloud on closing Quicken" is checked, if so uncheck it. In order to see this option, you would first need to turn on sync, and then turn it back off after you confirm the setting.

The other option you can change on that tab is the "Accounts".

Every time a new account is added to Quicken it gets added to this list with a default "yes to sync". If you click on the link, a list of "syncable" account comes up. You can then deselect all the accounts that are selected (defaulted) to sync. Then you will see "0 accounts" enabled for "syncing"

Boatnmaniac

https://community.quicken.com/discussion/comment/20374974#Comment_20374974

[Deleted User]

@Boatnmaniac from time to time, the Sync gets turned on accidently, or if you need to fix other issues. If and when that happens, you have an extra layer of "security", if you turn off those sync settings.

Boatnmaniac

https://community.quicken.com/discussion/comment/20374990#Comment_20374990

Good point.

Jerry2

Thank you all.

In my opinion this is a very bad change and a potential security leak.

I went to the Mobile & Web tab and the sync option is off. Thank goodness. I wonder what was syncing to the cloud then.

Q97

@Jerry2 Quicken uses several different connection methods to download transactions from financial institutions

https://www.quicken.com/support/how-quicken-connects-your-bank

This is my understanding of some of the differences.

With DC, the Quicken app makes a direct connection to a server operated by the financial institution. Aside from at the FI, your account data and password are not stored on the web.

With EWC, your account password is stored at a financial aggregator (I believe Quicken contracts with Intuit for this service). This 3rd-party intermediary then uses your login credentials to retrieve your account data and store it on their system, from which Quicken then retrieves your transactions.

With EWC+, instead of the aggregator storing your account password, they store an authorization token that allows them to connect to your FI to download your account data. This is potentially safer since the token may only allow limited access to your account and its data. Quicken then retrieves your transactions from the aggregator.

So, if you use EWC or EWC+ to download transaction data, your account data (and possibly your password) is already stored on the web at a 3rd-party site.

I welcome clarifications if my understanding is not completely accurate.

Boatnmaniac

https://community.quicken.com/discussion/comment/20375007#Comment_20375007

We don't know all the different things that get synced with the Cloud Accounts when Mobile & Web Sync is turned off. But here is a list of some of the key things that I've been able to ascertain:

Installation license verification.
Tells your installation which edition (Starter, Deluxe, Premier, Home & Business) you are subscribed to and which features should be turned on or off.
Confirms the status of your subscription (so Quicken can inform you when it is getting to be time to consider resubscribing or to shut off online services if your subscription has expired).
Uploads the version of the installation and compares that to the current released version (so Quicken can inform you when there is a new version that can be updated to).
Uploads Categories (not the transactions that go with them)….I haven't been able to figure out why this is done, though.
Who are the financial institutions that you are connected with and which ones are connected with EWC/EWC+.
Some (not all) Preferences.

There's probably some other stuff but it is my understanding it's all pretty benign.