Charles Schwab ** NEW ** security risk--
Bobcat69
Member ✭✭
When I went to update my Charles Schwab accounts thru Quicken - There is a NEW form that I must agree to before Schwab will allow Quicken access to my accounts .
It states that by allowing Quicken "access" to my accounts - Schwab will NO LONGER offer the 100 % Schwab guarantee for unauthorized trades and or fraud to YOUR ACCOUNT . I have NEVER seen this type of " disclosure " from any other financial entity.
In other words -- it appears as though they are " covering their azz "
FWIW- I have been a user of Quicken since the 90's
Link www.schwab.com/legal/third-party-terms
It states that by allowing Quicken "access" to my accounts - Schwab will NO LONGER offer the 100 % Schwab guarantee for unauthorized trades and or fraud to YOUR ACCOUNT . I have NEVER seen this type of " disclosure " from any other financial entity.
In other words -- it appears as though they are " covering their azz "
FWIW- I have been a user of Quicken since the 90's
Link www.schwab.com/legal/third-party-terms
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Comments
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This is an interesting section considering that the main reason given for this change is so that the aggregators don't have your username/password any more, only a "certificate". Note that with Direct Connect Intuit never had your username/password, but Charles Schwab is treating this connection like all the other aggregators they deal with and as such for the others it is more secure.
BTW I think at least for the other aggregators this was always in place, but just hidden down in the documents, and isn't really as much a change in policy as making it more visible.
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