Quicken Classic - Crypto & Connectivity

Leopold_Butters

I am long time user of quicken classic that left years ago and thinking about coming back. I left due to the lack of support for Crypto exchanges and the ability connect wallets or use like Coin Tracker to help manage all my wallets. I also left due to the lack of support of financial institutions I use. Quicken is not keeping up with what is happening in finance today. Has quicken expanded it ability to connect to Crypto currency exchanges and financial institutions?

Boatnmaniac

I also left due to the lack of support of financial institutions I use.

It is not so much a matter of what Quicken supports but of which financial institutions support Quicken. The decision about whether or not a financial institution will download into Quicken is entirely owned by the financial institution. The financial institution must contract with the aggregator (Intuit) to get added to the FIDIR list. Once that is done Quicken is then enabled to download from that financial institution. If that financial institution never engages with Intuit to get added to the FIDIR list, then Quicken will never be able to download from that financial institution.

Financial institutions are routinely added and sometimes removed from the FIDIR list. If you post here which financial institutions along with the account types of each that you want to download we can let you know whether or not they now support Quicken.

Has quicken expanded it ability to connect to Crypto currency exchanges…

Quicken has added support for some Cryptos. However, I do not trade in Cryptos so I can't provide much in the way of specifics on this. Perhaps someone who trades in Cryptos and can answer your question with sufficient detail will post a comment here.

Boatnmaniac

I also left due to the lack of support of financial institutions I use.

It is not so much a matter of what Quicken supports but of which financial institutions support Quicken. The decision about whether or not a financial institution will download into Quicken is entirely owned by the financial institution. The financial institution must contract with the aggregator (Intuit) to get added to the FIDIR list. Once that is done Quicken is then enabled to download from that financial institution. If that financial institution never engages with Intuit to get added to the FIDIR list, then Quicken will never be able to download from that financial institution.

Financial institutions are routinely added and sometimes removed from the FIDIR list. If you post here which financial institutions along with the account types of each that you want to download we can let you know whether or not they now support Quicken.

Has quicken expanded it ability to connect to Crypto currency exchanges…

Quicken has added support for some Cryptos. However, I do not trade in Cryptos so I can't provide much in the way of specifics on this. Perhaps someone who trades in Cryptos and can answer your question with sufficient detail will post a comment here.

Leopold_Butters

Thanks for the response, I appreciate it. That is what I was wondering if Quicken has increased their R&D and expanded their connectivity platform supporting more modern and industry wide connectivity like Plaid, Finicity, MX, Yodlee for example. If they do that, they would hands down have one the most compressive Money Management tools out there.

As for Crypto it looks like you still have to manually add the crypto you trade in which it does not do exchanges, wallets or connects to other aggregators like cointracker on koinly.

Hoping someone tells me otherwise or things things are in the hopper, I would really like to come back to Quicken Classic.

jacobs

That is what I was wondering if Quicken has increased their R&D and expanded their connectivity platform supporting more modern and industry wide connectivity like Plaid, Finicity, MX, Yodlee for example.

Quicken continues to use Intuit as their connectivity provider. Switching to Plaid or Yodlee would require a massive change in the connectivity underpinnings of Quicken Classic and Quicken Simplifi. I don't know whether such a change is even feasible, either technicality or under the terms of the contract they signed when becoming independent of Intuit 9 years ago. If it is possible, I imagine it has been considered by Quicken executives, but they will never share whether they are considering such a change unless/until it happens. So all we can say is, no, the connectivity provider has not changed.

Boatnmaniac

That is what I was wondering if Quicken has increased their R&D and expanded their connectivity platform supporting more modern and industry wide connectivity like Plaid, Finicity, MX, Yodlee for example.

You originally asked about "financial institutions" (which are banks, brokerages, credit card companies, etc.) and my earlier reply was about that.

Plaid, Finicity, MX and Yodlee are financial data aggregators and connectivity providers, not financial institutions. The 2 are very different things.

Quicken was designed for use with Intuit's proprietary data aggregations and connectivity systems and it continues to solely use Intuit as their aggregator/connectivity partner. For Quicken to add support for other aggregators would likely require a complete code rewrite because Quicken is so tied at the hip with Intuit. And we need to keep in mind that Quicken is a pretty small company with about 200 employees that need to support all the various business functions (Management, Operations, Quality, Finance, Support, Sales, Marketing, Development/Design, etc.) across 3 major platforms (Quicken for Windows, Quicken for Mac and Quicken Simplifi) as well as needing to support several companion apps and complimentary services for those platforms. In addition, it would not surprise me if in the Intuit spin-off agreement Quicken was/is required to use only Intuit as their aggregation/connectivity provider. I will never say Quicken will never add support for other aggregators but IMO it is highly unlikely…at least not in the foreseeable future.

Chris_QPW

Frankly the US financial system is a mess in this regard and adding of more "modern" aggregators makes the problem worse, not better. And Crypto just adds to the problem. To me as a programmer "aggregator" screams as "various hacks to make it work because no one ever standardized on a protocol".

One of BIG barrier to entering the personal finance software market is getting the information needed.

The US government has never adopted a standard for this let alone enforce one. This has led many "aggregators" and even with each aggregator multiple "connection types" (in software terms/protocols). Everything from ones like Express Web Connect, which in fact have no standard, it is just an agreement with the financial institutions, to OFX to the new kid on the block FDX. Note FDX is a push to try to get the different aggregators to use the same protocol, but like OFX before it, it is doomed to fail is "success" is stated as being able to get your data from whatever financial institution you want. Because at best, only "some of them" will actually adopt it.

One of the things I see that Quicken Mac is "ahead" of Quicken Windows in is trying to connect to "small/new" investment systems (I hesitate to even call them financial institutions). These are the ones like crypto, but also like Robinhood and Betterment. Not only are these structured quite differently in the terms of how they hold the securities and such, but they are also much less willing to "share data". This comes out that you see that they send "Simple investing" (just balances) instead of "Complete investing" (actual transactions), if they will allow access at all.

For some reason, Quicken Windows didn't get all these "Simple investment mode" "financial institutions that Quicken got. And that even includes a big one, the Federal Thrift Savings Plan. This has long been listed in Quicken Windows but never working. For the longest time it was working in Quicken Mac, then a long time broken (connecting unlike Quicken Windows that doesn't connect at all, but zero balance), and I think now is working again (in Simple Investing mode).

Leopold_Butters

I wanted to follow up as I believe I found my alternative to Quicken. As much as it pains me to leave, I been requesting enhancements too long and waiting for something to change but I can no longer wait anymore. I will be moving to [Removed - 3rd-Party Software]. Support staff is great, and they support everything I am looking for and willing to add connection to sites that once Quicken has access too.