PDA

View Full Version : 'iBank Access' Seeking to Remake Personal Finance on the iPad




MacRumors
Feb 8, 2012, 07:26 AM
http://images.macrumors.com/im/macrumorsthreadlogo.gif (http://www.macrumors.com/2012/02/08/ibank-access-seeking-to-remake-personal-finance-on-the-ipad/)


As Intuit's Quicken options for Mac users continue to falter in the wake of a stripped-down Quicken Essentials release (http://www.macrumors.com/2010/02/25/intuit-debuts-rebuilt-quicken-essentials-for-mac/) and the company's ongoing efforts (http://www.macrumors.com/2011/12/22/lion-compatible-quicken-2007-for-mac-promised-in-early-spring/) to make the more fully-functional Quicken 2007 compatible with OS X Lion, other personal finance software firms have attempted to step into the void.

One of the more successful companies has been IGG Software with its iBank software, which is available as both a Mac application (http://www.appshopper.com/mac/finance/ibank) and a companion iPhone app (http://www.appshopper.com/finance/ibank). IGG Software has been teasing a few tidbits about its work on an iPad application over the past few months, and as noted in a new blog post (http://www.iggsoftware.com/blog/2012/02/ibank-access/) today, the company appears to be making significant progress in moving toward the release of iBank Access for iPad. The forthcoming app will serve double duty as either a companion app to iBank for Mac or as a standalone personal finance app.

http://images.macrumors.com/article-new/2012/02/ibank_access_beta.jpg


Among the most significant features of iBank Access is "Direct Access", IGG's new service that will provide users with significantly more options for automatically importing account data from their financial institutions.After you enter valid credentials to log in to the bank's website, you are given a list of accounts that you have at that financial institution - with the option of choosing which accounts you actually want in iBank. For example, many folks might have a checking, savings and even credit card all at the same bank and in the last screen you would be given the option to choose which of these you might not want to import. Most users will link all of the accounts. When the accounts are created, iBank imports available historical transactions associated with each account and even does some automatic categorization.

Here is where the beauty of our new aggregation system really begins to shine. Each time you launch the app, it goes out and fetches any new transactions. Unlike iBank for Mac, however, there is no separate window that appears where you have to manually verify which transactions to import. The new transactions just automatically appear conveniently marked.In an effort to learn more about iBank Access and IGG's broader iBank efforts, MacRumors spoke with IGG's chief architect James Gillespie, a nearly 15-year veteran of Intuit who joined his brother Ian's company in 2008 to oversee iBank and other projects.

With the change to Direct Access for automatic syncing of information from over 5,000 financial institutions, iBank Access represents a paradigm shift for IGG in that it will require a small monthly fee ("in the range of a fancy cup of coffee") in order for users to take advantage of the service. Users who choose to manually import their transactions will not need to pay the monthly fee, but IGG believes that many will find the service worthwhile. Gillespie says:Internally, people who have used it are very excited and love the experience. We plan on offering some sort of free trial so that everyone who wants to, can try it out. If people like it, then great - they can sign up, if they don't, then that is fine too. This is not something we are pushing for everyone, just for the people that want to import from their banks and not go through the Mac.The new Direct Access capabilities will also eventually be making their way to iBank for Mac, increasing by tenfold the number of financial institutions able to feed data directly into iBank. For those users who prefer the existing OFX import solution, it will remain available.

Gillespie also notes that IGG is working on iCloud compatibility for its iBank products. MobileMe's iDisk service has been a popular method for iBank users to keep their data in sync, and IGG will continue to support iDisk syncing until Apple discontinues the service at the end of June. The transition to iCloud will be a relatively straightforward coming from iDisk, but will enable IGG to make further enhancements to syncing capabilities down the road.

We also asked Gillespie about the impact of the Mac App Store on iBank sales. iBank has been available in the Apple's marketplace for Mac software essentially from day one, and Gillespie notes that it has become the second-largest distribution channel for iBank, behind the boxed software and ahead of IGG's own download store. But sales have been increasing across the board, suggesting that Mac App Store sales are not cannibalizing other distribution channels and may indeed be helping to bring increased visibility for the company.

Finally, Gillespie shared details on some of IGG's recent hires, which have included two former Intuit employees who were core members of the team that led Mac software development and TurboTax for iPad development during their time there. With IGG providing them with a new home focused solely on Mac and iOS applications, the company believes that it has the right team in place to continue challenging Intuit in the personal finance software market.

iBank Access for iPad is still under development and IGG has not yet promised a release date, but the company is intending for it to launch sometime this summer.

Article Link: 'iBank Access' Seeking to Remake Personal Finance on the iPad (http://www.macrumors.com/2012/02/08/ibank-access-seeking-to-remake-personal-finance-on-the-ipad/)



mrtune
Feb 8, 2012, 07:37 AM
Lately I have been hear good things about iBank. I seriously need to check them out. I'm still using Quicken for Windows via VMware because all their Mac offerings suck.

A full featured iPad app is a great idea as along as it works. I would definitely give it a shot right away! I'll be keeping my eye on this.

ugahairydawgs
Feb 8, 2012, 07:37 AM
Been using iBank on my Mac and iPhone for nearly a year near. A great product and a great way to keep track of financial activity while out on the go. Currently using wifi now to keep the two in sync, but looking forward to being able to use iCloud for that in the future (curious as to why that isn't there already). iPad app sounds intriguing as well.

Keep up the good work IGG

Keebler
Feb 8, 2012, 07:42 AM
Lately I have been hear good things about iBank. I seriously need to check them out. I'm still using Quicken for Windows via VMware because all their Mac offerings suck.

A full featured iPad app is a great idea as along as it works. I would definitely give it a shot right away! I'll be keeping my eye on this.

you'll be happy when you do! :)

your post could have been mine - we were using quicken in parallels.

bought ibank beginning of last year, never looked back. great app...solid...no having to deal with windows. done.

worth the purchase.

i haven't looked into the ipad app, but if it allows syncing, it will allow my wife to do the banking from upstairs instead of having to go downstairs. I can't see us personally using it from outside the house, but the option could be handy.

cheers,
Keebler

copete
Feb 8, 2012, 07:44 AM
Wirelessly posted (Mozilla/5.0 (iPhone; CPU iPhone OS 5_0_1 like Mac OS X) AppleWebKit/534.46 (KHTML, like Gecko) Version/5.1 Mobile/9A405 Safari/7534.48.3)

Just out of curiosity, what do these programs offer that Mint.com doesn't? I use Mint and am really impressed by its functionality and UI.

jayducharme
Feb 8, 2012, 07:48 AM
I like the look of the app, and it could be useful. But I just have a single bank account, and it already features an HTML5-compatible interface.

iBank Access represents a paradigm shift for IGG in that it will require a small monthly fee

This has been the trend of businesses: I'm asked to pay money to access something that's already mine and is accessible in other ways for free. They're making the "manual" access sound burdensome. I wonder why having the software access the data (instead of me having to tell the software to access the data) costs more. Just convenience? iBank will have to offer something truly unique and useful to get me to pony up the extra cash.

rexamafex
Feb 8, 2012, 07:54 AM
It charges money to use this service???

It looks no where as good as Mint.com iPad app.... And that's free to use.

Everyone needs to checkout Mint.com if they are considering something similar...

User3977
Feb 8, 2012, 08:28 AM
Wirelessly posted (Mozilla/5.0 (iPhone; CPU iPhone OS 5_0_1 like Mac OS X) AppleWebKit/534.46 (KHTML, like Gecko) Version/5.1 Mobile/9A405 Safari/7534.48.3)

Mint.com user here too. Great free app only thing is that some credit cards don't read right and says my balance is what my monthly payment is. But after talking to mint that is an issue with the cc company and the way they post information and mint is working on it. Love them and the UI

btbeme
Feb 8, 2012, 08:28 AM
This has been the trend of businesses: I'm asked to pay money to access something that's already mine and is accessible in other ways for free. They're making the "manual" access sound burdensome. I wonder why having the software access the data (instead of me having to tell the software to access the data) costs more. Just convenience? iBank will have to offer something truly unique and useful to get me to pony up the extra cash.

Cry me a river. Nobody is asking you to do anything. What is wrong with you and your entire overpriveledged generation?

Making it sound burdensome? Huh? No - I believe the whole point of the discussion was to make the automatic update sound convenient. Nobody is forcing you to change your habit of doing so manually - the "free" data that "belongs to you" is still free and still belongs to you. Be thankful that your bank does not charge you for THAT convenience - in the good ol' days, one had to walk in to the bank, stand in line, speak with a teller, and have their passbook updated and stamped.

Like any service, I'd expect to pay more for a convenience. Bless iBank for giving us a choice. Stop whining.

ddelmonte
Feb 8, 2012, 08:29 AM
I've been using iBank since 2008. It's simply gotten better and better. It is now rock solid, and its data entry, reporting and analysis functions are better than anything I've used before. I was a Quicken user since 1990, and did nor relish the thought of moving my data to another app. I actually used to love Quicken, although it did not handle transfers between accounts well at all.

iBank have actually cracked this transfer problem.

This year, I have been wildly busy and have not had time to keep my accounts up to date. Now US tax time approaches, and I needed to get my accounts up to speed. I entered a years worth of data (through direct access and QFX files), and I'm back on track. That took 4-5 hours. I used to spend that each month..

My son uses mint.com and seems to like it. I think that it's great that we have some real options for Mac users. We don't actually need Intuit anymore for personal accounting.

btbeme
Feb 8, 2012, 08:31 AM
It charges money to use this service???



No... it plainly says that it charges extra to do so automatically, as a convenience for you. Believe it or not, you don't get everything you want in life for free.

----------


My son uses mint.com and seems to like it. I think that it's great that we have some real options for Mac users. We don't actually need Intuit anymore for personal accounting.

Mint.com is wholly owned and operated by Intuit.

ugahairydawgs
Feb 8, 2012, 08:35 AM
Wirelessly posted (Mozilla/5.0 (iPhone; CPU iPhone OS 5_0_1 like Mac OS X) AppleWebKit/534.46 (KHTML, like Gecko) Version/5.1 Mobile/9A405 Safari/7534.48.3)

Just out of curiosity, what do these programs offer that Mint.com doesn't? I use Mint and am really impressed by its functionality and UI.

Isn't Mint an automated thing that goes out and pulls down current balances from your online accounts?

iBank is a full featured stand alone program. You can enter your transactions manually instead of waiting for them to post to be added to your financial snapshot.

Personally, and this is just me on a soapbox here, I've never understood what the point is of using current bank balances as a way of taking a snapshot of your real time financial standing. If you don't enter your own transactions and reconcile your bank statement off of that at the end of each month how do you sniff out fraudulent charges or recognize when your cash is artificially inflated because checks haven't cleared or charges have not yet posted to your account?

trainwrecka
Feb 8, 2012, 08:44 AM
Excited for this!

YMark
Feb 8, 2012, 08:48 AM
Mint.com is wholly owned and operated by Intuit.

If for no other reason (although there are several)..... the above is why I won't use Mint. Intuit can KMA.

Darth.Titan
Feb 8, 2012, 09:02 AM
I'm going to chime in here as well and say that everything that this article is touting about iBank, Mint has been doing for awhile. For free.

And yes, Mint will also let me manually enter transactions as well. I know Mint is a product of Intuit, and Intuit sucks, but I can't figure out why iBank is trying to tell me that what they're doing is new and exciting. The biggest difference between their "Direct Access" and what Mint has been doing (for months) is that iBank wants to charge me for it.

BaldiMac
Feb 8, 2012, 09:11 AM
I'm going to chime in here as well and say that everything that this article is touting about iBank, Mint has been doing for awhile. For free.

And yes, Mint will also let me manually enter transactions as well. I know Mint is a product of Intuit, and Intuit sucks, but I can't figure out why iBank is trying to tell me that what they're doing is new and exciting. The biggest difference between their "Direct Access" and what Mint has been doing (for months) is that iBank wants to charge me for it.

Mint sells your personal information (in aggreagate) and presents you with advertising. iBank is offering a way to avoid those two things for a monthly fee. It's a tradeoff.

AppleInLVX
Feb 8, 2012, 09:14 AM
I use the iBank app on my iPhone almost exclusively, although the desktop software works really well. I'll happily get the iPad version if it runs anywhere near as nicely. But if they ever move to forcing a monthly fee they can shove it. Too many people are dinging me for 'a small cup of coffee' already. I'll pay for the software, but not for the privilege of using it. As it stands, that's fine... I prefer entering things manually anyway. Forces me to keep an eye out.

cvaldes
Feb 8, 2012, 09:18 AM
Just out of curiosity, what do these programs offer that Mint.com doesn't? I use Mint and am really impressed by its functionality and UI.
Mint.com is awesome for cash flow analysis.

It is piss poor in tracking investments beyond the most basic portfolio. Even the six year old code in Quicken 2007 is better than Mint.com right now for handling investments.

Macbmw
Feb 8, 2012, 09:29 AM
Wirelessly posted (Mozilla/5.0 (iPhone; CPU iPhone OS 5_0_1 like Mac OS X) AppleWebKit/534.46 (KHTML, like Gecko) Version/5.1 Mobile/9A405 Safari/7534.48.3)

Let's see $79.99 for iBank for Mac plus $4.99 for th iPhone plus 39.99 for the iPad. Total cost of $115. Account edge $79.99. Quickbooks pro $199.99. Humm I am missing something?

parkerbro9
Feb 8, 2012, 09:29 AM
yeah i just need to second what people are saying here... this article looks like a mint.com blog post... from 2008. i joined mint way back then (before they were bought by intuit), and its only gotten better since then (although progress has certainly slowed since intuit took over). what they lack in the occasional transaction-import area, they MORE than make up for with ease of use.

the description of this app sounds painful... i have to manually select transactions i want on the mac app?? the only thing that's even kept me using mint is its automation.

while i love mint, i always love new options but this, sadly, falls way short.

benpatient
Feb 8, 2012, 09:35 AM
Mint.com is useless for budgeting if you aren't paid once a month on the first of the month.

They simply refuse to offer any other "income" options within their "Budget" panel, which means you've never got an accurate budget.

There are numerous complaint/bug/feature request threads open in their forums going back a year and a half with people begging for income options other than "monthly" in their budget function, and all that Mint.com has said in response is that having something other than 1 monthly income is "impossible" for their engineers to do.

They used the word "Impossible"!

Anyway, Mint.com is a useful "snapshot" and "spending trends" tool, and it can help you understand where your money is going over the course of many months, but it is not really something you can actively use to keep a budget unless you have a really unusual income pattern.

Even if you are paid monthly, and on the first of the month, you probably get paid the friday before the first of the month when the 1st falls on a weekend. Mint.com's budget will show you in the red for that entire month, and it will show you historically WAY out of whack the month before, because you "got paid twice" according to Mint's absurdly strict budgeting limitation.

bgshapiro
Feb 8, 2012, 09:48 AM
I am a CPA that recently got caught up in the Rosetta crisis. I am running Snow Leopard in order to continue using Quicken 2006 for Mac. When I logged in on Sat, after installing the update, no printing for Quicken. I did not realize until Monday that it was the Apple system upgrade causing the problem, so I assumed that Quicken had simply died. Since I use my Quicken primarily to enter personal checks and print them on a laser printer, it was useless. So I downloaded the 30 day trial for IBank and converted my Quicken 2006 to QIF and installed. The data did convert for the most part flawlessly, but when I went to enter a check, I was in for a big surprise. It is very clunky to write checks with. While I have no doubt that the financial management functions are wonderful (sexy looking charts and graphs) it needs the basic simplicity of simple check writing/printing to be useful. There are many times I do not want to EPay someone (for instance my gardener is over on a Sat and I need to pay him-these guys like a check in their hand, not something mailed by B of A to their "office" ). Also, it is not intuitive- and I run almost every type of accounting software at my office. I was thrilled when the problem was identified on Monday and my Quicken 2006 worked again. Frankly, after seeing IBank work for my purposes, If Rosetta was dead, I would have emulated Windows on my IMac and purchased the Windows version of Quicken (which is much more robust) to use instead of IBank.

Saladinos
Feb 8, 2012, 10:16 AM
These guys are barking up entirely the wrong tree: why does everyone seem to think the best way to help me with my finances is to pull my bank statement and pretty it up?

I already have a bank statement - with my bank. Online. And I don't need to manually enter anything, involve any 3rd parties or pay any extra monthly fee for that.

cvaldes
Feb 8, 2012, 10:57 AM
These guys are barking up entirely the wrong tree: why does everyone seem to think the best way to help me with my finances is to pull my bank statement and pretty it up?

I already have a bank statement - with my bank. Online. And I don't need to manually enter anything, involve any 3rd parties or pay any extra monthly fee for that.
These programs and websites are helpful for people who have multiple accounts with multiple financial institutions.

They show a more complete picture of all of your checking and savings accounts, credit cards, investment accounts, as well as assets (real estate, autos, etc.) and loans (mortgages, etc.).

BC2009
Feb 8, 2012, 11:13 AM
Lately I have been hear good things about iBank. I seriously need to check them out. I'm still using Quicken for Windows via VMware because all their Mac offerings suck.

A full featured iPad app is a great idea as along as it works. I would definitely give it a shot right away! I'll be keeping my eye on this.

Been using iBank on my Mac and iPhone for nearly a year near. A great product and a great way to keep track of financial activity while out on the go. Currently using wifi now to keep the two in sync, but looking forward to being able to use iCloud for that in the future (curious as to why that isn't there already). iPad app sounds intriguing as well.

Keep up the good work IGG


When I got a Mac I tried to use Quicken via VMWare Fusion for about a week before buying iBank. iBank back then was good and definitely took the "Quicken Mentality" to finance management; however, their budgeting mechanism back then was too much like Quicken.

I switched to Moneywell which uses "bucket/envelope" accounting with an iTunes-like interface (i.e.: border layout sidebars, header & footer). It took a day or so to get accustomed to the interface since the transactions shown in the center are essentially filtered based on what you type in the search bar, which bucket you have selected on the left, and which account you have selected. But after using Moneywell for two years i can say I LOVE it. They have an iPhone app which is good, but what I have really really really been waiting for is an iPad app with an interface similar to the desktop.

I saw iBank added an envelope accounting option last year and I downloaded the trial version to check it out. Its a nice addition, but I found that it did not quite work the way I wanted. I think the problem was that every transaction had to have an envelope category, whereas I only apply envelope accounting to our "spending checking" account. For example, transferring $100 from checking to our credit card account needs to have a category in the checking-side of the transaction show the withdrawal from whatever bucket it comes from and absolute no category on the side of the credit card account (otherwise the transfer cancels itself out and the bucket/envelope does not reduce by $100). If I recall, I *think* that was the problem I had with iBank's envelope budgeting system -- it seemed like an afterthought with the primary budgeting system being the "see what you spent" model rather than the "plan what you will spend" model.

Anyway, iBank is what I recommend to anybody coming from Quicken who loves Quicken. I may give it another shot down the road, but Moneywell was built around bucket/envelope accounting and does it so well. They just need an iPad-optimized app.

AustinIllini
Feb 8, 2012, 12:07 PM
Excited for this!

I look forward to seeing my net value all on one page :( May be the most depressing moment of my life.

MTShipp
Feb 8, 2012, 12:27 PM
I do not hold high hopes for the iPad edition of iBank when it is released. They are slow to react to problems reported with their existing iPhone app and their Lion app.

I hope it works out well because it looks neat.

ugahairydawgs
Feb 8, 2012, 01:22 PM
Is that a normal stock image for the iPad? That bezel looks mighty narrow.

cvaldes
Feb 8, 2012, 01:36 PM
Perhaps the iPad emulator in Xcode has generic graphics that aren't tied to a specific model? I'm not an iOS developer so this is merely a guess.

ZipZap
Feb 8, 2012, 01:41 PM
If I cannot connect to every single financial institution I use from day one I would not even consider switching.

If they want defectors from other products then they'll need to support at least the same number of institutions as Mint or Quicken. And believe it or not Mint has more.

I suspect that will not be the case. Also, they'll need to be responsive to requests for new institutions and complete those requests within 1 or 2 days.

That is the one thing I hate about Mint and Quicken. If it aint already supported good luck with them caring.

PBG4 Dude
Feb 8, 2012, 02:16 PM
Perhaps the iPad emulator in Xcode has generic graphics that aren't tied to a specific model? I'm not an iOS developer so this is merely a guess.

The iPad simulator gives an accurate representation of the iPad. That has to be a doctored image because that is way too stretched vertically.

blue22
Feb 8, 2012, 02:26 PM
Although Mint.com certainly does offer a lot of convenient and useful features (their graphs are actually nicely done) their service isn't truly free and people are fooling themselves if they believe otherwise.

For agreeing to use Mint.com's services, at a minimum, you're agreeing to let them data-mine all your spending habits (https://www.mint.com/how-it-works/security/policy/), and target you with advertisements; sorry but that is a HUGE deal breaker for me, and I value my financial privacy way too much to agree to that invasive nonsense. I also suspect I'm not the only one that feels this way.

Also there are still some legit security concerns lingering around (see here (http://www.jasonowens.com/mint-com-in-2010-is-it-safe/) and here (http://www.usatoday.com/money/perfi/columnist/krantz/2011-02-22-financial-software-safety_N.htm)) regarding granting Mint.com access to your banking accounts via their online interface.

Personally speaking, it may not be perfect, but overall iBank has been great, and I'm happy to support a product that's clearly committed to the Mac platform and offers a solid application that addresses the vast majority of my personal finance tracking needs.

And for all those that don't want to pay a dime for anything, ultimately they get what they "pay" for.

cerote
Feb 8, 2012, 04:26 PM
Been an iBank user for a while. Love it. I have the iOS app to be able to keep my account and spending on track when on vacation away from my computer.

The thing I am really waiting for is iCloud sync support.

cuencap
Feb 8, 2012, 08:38 PM
Although Mint.com certainly does offer a lot of convenient and useful features (their graphs are actually nicely done) their service isn't truly free and people are fooling themselves if they believe otherwise.
I have been using mint.com for 4 years now and have not paid one cent to them. How is that not truly free?

For agreeing to use Mint.com's services, at a minimum, you're agreeing to let them data-mine all your spending habits (https://www.mint.com/how-it-works/security/policy/), and target you with advertisements; sorry but that is a HUGE deal breaker for me, and I value my financial privacy way too much to agree to that invasive nonsense.
How are targeted advertisements invading your privacy? When mint.com notices that 40% of your credit card transactions are to gas stations, they show you a credit card that offers 5% back on all gas station purchases. I think that's a great idea. How is that invasive and hurtful to your financial privacy? Seems like a customized offering to me!

I also suspect I'm not the only one that feels this way.
Don't speak for me, I actually really enjoy using mint.com on a daily basis, and enjoy my transactions being loaded automatically. For Free.

roofz
Feb 8, 2012, 10:59 PM
I don't think too many people are going to like opening up their iBank app to see a huge negative number indicating their net worth. Would also be a tad bit embarrassing when using on an airline or in a crowded area.

Predicting a flop

blue22
Feb 9, 2012, 01:12 AM
I have been using mint.com for 4 years now and have not paid one cent to them. How is that not truly free?

Hey, if you like using them so much then I'm sincerely happy for you and carry on with it then.

However, it seems you've missed my earlier point: the use of their software isn't actually "free" because in reality-land you're actually "paying for it" by agreeing to let them compile data on your financial habits and associations as you use their software to manage your personal finances. Now, if you're okay with this exchange, then again, great for you. Personally speaking, I am not okay with it, hence why I don't use them.



How are targeted advertisements invading your privacy? When mint.com notices that 40% of your credit card transactions are to gas stations, they show you a credit card that offers 5% back on all gas station purchases. I think that's a great idea. How is that invasive and hurtful to your financial privacy? Seems like a customized offering to me!

Did you even bother to read what I actually posted?! Here's the Mint.com security related links again (see here (http://www.jasonowens.com/mint-com-in-2010-is-it-safe/) and here (http://www.usatoday.com/money/perfi/columnist/krantz/2011-02-22-financial-software-safety_N.htm)) and if they fixed those issues then JOY TO THE WORLD but those things still pose legitimate concerns overall because of the nature of it's web-based interface, which is another reason why I prefer *not* to use their service. But again, to each their own.



I also suspect I'm not the only one that feels this way.
Don't speak for me, I actually really enjoy using mint.com on a daily basis, and enjoy my transactions being loaded automatically. For Free.

Listen Ace, I wasn't "speaking for you" so don't take my words out of context. First learn to read, then re-read that paragraph I wrote before taking it all deeply personal or whatever. I don't even know you, and this is the first time I've encountered you on this forum so how exactly was I "speaking for you" before I even knew you existed?! You only got 4 posts to your credit on here so ease up on your rhetoric.

Bottom line: you love using Mint.com, especially because it's "free", so great for you and those that share your opinion. But *I* am not comfortable with their terms of use regarding sharing my financial data, and I'm *not* the only one here who feels this way about them. But there's nothing wrong with either side of the fence people find themselves on regarding this particular service. It's just a personal preference I simply stated earlier, nothing more.

And, just to be crystal clear here, I'm *not* saying Mint.com is the devil or anything like that, not at all, but this notion that people think their service is "free" is ridiculous. It costs them time, resources, and manpower to create and maintain this software that you seem to enjoy utilizing so much, and if you think they're just giving it away for you to use without a return on their investment then you're just naive about the true nature of things. Tracking your personal spending habits is worth a lot more to them than building an app that you can only access via the internet, and once this data is in hand they can upsell you on crappy credit card deals you seem to really like, all while collecting and profiting off your future financial data updates that you willfully provide them with… for "free".

mijail
Feb 9, 2012, 03:05 AM
I'm pleasantly surprised at the quality of the comments in this thread... so uncharacteristic here, I'm afraid. Thank you all for the insights in each of those softwares, I'll be trying them.

cuencap
Feb 10, 2012, 08:54 AM
Did you even bother to read what I actually posted?! Here's the Mint.com security related links again (see here (http://www.jasonowens.com/mint-com-in-2010-is-it-safe/) and here (http://www.usatoday.com/money/perfi/columnist/krantz/2011-02-22-financial-software-safety_N.htm)) and if they fixed those issues then JOY TO THE WORLD but those things still pose legitimate concerns overall because of the nature of it's web-based interface, which is another reason why I prefer *not* to use their service. But again, to each their own.

I did read your post in full, and I did read the links. I chose to ignore them because they were both 1 and 2 years old. Things have changed since then. They may not have addressed and fixed all of your concerns, but they will always need some sort of access to your accounts in order to work the "mint.com way"


Listen Ace, I wasn't "speaking for you" so don't take my words out of context. First learn to read, then re-read that paragraph I wrote before taking it all deeply personal or whatever. I don't even know you, and this is the first time I've encountered you on this forum so how exactly was I "speaking for you" before I even knew you existed?! You only got 4 posts to your credit on here so ease up on your rhetoric.

"Ace", haha, nice.

When you say "I also suspect I'm not the only one that feels this way", I feel as though that is an unfair assumption, and that you are speaking for everyone.

As for me only having 4 posts; what does that matter? My opinion matters just as much as yours. You don't have anymore "macrumors" clout than I do, and if you think you do, you're a sad soul.

Bottom line: It costs them time, resources, and manpower to create and maintain this software that you seem to enjoy utilizing so much, and if you think they're just giving it away for you to use without a return on their investment then you're just naive about the true nature of things. Tracking your personal spending habits is worth a lot more to them than building an app that you can only access via the internet, and once this data is in hand they can upsell you on crappy credit card deals you seem to really like, all while collecting and profiting off your future financial data updates that you willfully provide them with… for "free".

I fully understand how online services work; which is the reason why I love the Internet and mint.com. For them to envision the website, and actually create the website with such beauty, elegance, and functionality is very impressive to me. To turn around and sell it to a well-respected financial institution for millions of dollars is even more impressive to me. I signed up for mint.com fully knowing my risks and benefits of the service.

----------

I don't think too many people are going to like opening up their iBank app to see a huge negative number indicating their net worth. Would also be a tad bit embarrassing when using on an airline or in a crowded area.

Predicting a flop

I don't think this is grounds to call the software a "flop". If you're worried about people seeing your financial history, don't open the app in public. When is the last time you've balanced your checkbook or counted all of your benjamins in public? Unless you're Floyd Mayweather and like to make it rain, I doubt that you have done either.

Embarassed about a negative net worth? That's the fact of life for a vast majority of people with mortgages. People hiding from the truth of a negative net worth is also part of the reason why we as a country are in the financial mess we are!

alexjholland
Feb 10, 2012, 09:40 AM
Am I the only self-employed person here that gets their commission in chunks throughout the month, as opposed to wages?

Sounds like Mint.com is useless for me. What about iBank?

blue22
Feb 10, 2012, 12:02 PM
When you say "I also suspect I'm not the only one that feels this way", I feel as though that is an unfair assumption, and that you are speaking for everyone.

See the problem here? You just stated that "you feel" a certain way about what I wrote and then proceeded to "assume" that I was speaking for everyone else, which in fact I wasn't; just merely stating in plain ol' English that I know others feel similarly as I do about using that service. That group clearly doesn't include you, but it doesn't include "everyone else" either like you wrongly assumed me to be implying.

Again, learn to comprehend what you read.



As for me only having 4 posts; what does that matter? My opinion matters just as much as yours. You don't have anymore "macrumors" clout than I do, and if you think you do, you're a sad soul.

LOL! I have *zero* interest in gaining any "MacRumors clout", so worry not my easily ruffled compañero. My point about your 4 posts earlier is that apparently you "just got here" and so before you directly start accusing anyone of anything try not to assume too much about them before you begin "sharing" in a less-than-constructive manner. I'm all for open dialogue and sharing different points of view, but at the same time I won't tolerate being vexed by accusatory nonsense in the process of a given discussion, got it chap?



I did read your post in full, and I did read the links. I chose to ignore them because they were both 1 and 2 years old. Things have changed since then. They may not have addressed and fixed all of your concerns, but they will always need some sort of access to your accounts in order to work the "mint.com way"

So, while you openly acknowledge that some of my chief concerns with using Mint.com has not yet been resolved I'm supposed to warm *my* position on the matter all because *you* love riding the Mint.com train soooooo much? Nonsense! Again, I'm happy for you if *you* like their service. But I don't. It's a personal preference, one that I stated clearly and fairly the very first time. So, let's just agree to disagree on this one.

cuencap
Feb 10, 2012, 11:17 PM
So, let's just agree to disagree on this one.

Agreed-we shall agree that we disagree

HOWEVER...you made another dumbass assumption...

My point about your 4 posts earlier is that apparently you "just got here"

I've been "here" longer than you've had ball hair, so take your ball (and hand-written financial ledger) and go home. Stop being a hypocritical sack rider.

got it chap?

Got it chief

blue22
Feb 11, 2012, 12:58 AM
Agreed-we shall agree that we disagree

HOWEVER...you made another dumbass assumption...

Yes, clearly I'm foolish for thinking you were a mature individual on any level that wouldn't resort to name calling to defend their touchy point of view. Lesson learned.



I've been "here" longer than you've had ball hair, so take your ball (and hand-written financial ledger) and go home. Stop being a hypocritical sack rider.

Trying to stay on topic somewhat, just FYI, iBank can also do that magical thing of connecting to the world wide web and download bank statements directly from your banking account so you don't have to input it manually yourself. I know, earlier you were too busy defending Mint.com's precious little honor to take any note of that feature.

Oh yeah, BTW, are you sure you're really sure about that bucko, with the ball-hair thing and all? Or is it actually you that's making the "dumbass assumptions" around here, yet again? No buddy, it's *you* who's on MY NUTS and it's about time to go wash your mouth now.

donthaveacowman
Feb 11, 2012, 01:21 PM
I have found Quicken Essentials to be a pretty good solution for most of my needs. I just wish the investment support was more complete. The online banking/downloading transactions works really well, and while the reporting could use a little improvement, it is overall much easier to find what I'm looking for than in the 'classic' Quicken Mac version.

And one of the best the best parts is, you can download it for free directly from Intuit:

http://http-download.intuit.com/http.intuit/Downloads/Mac/QuickenEssentials/001/Release/FD07F742-AC1D-414B-B4C4-D98FCB11D3AF/Quicken%20Essentials.tgz

roofz
Feb 12, 2012, 12:46 AM
I don't think this is grounds to call the software a "flop". If you're worried about people seeing your financial history, don't open the app in public. When is the last time you've balanced your checkbook or counted all of your benjamins in public? Unless you're Floyd Mayweather and like to make it rain, I doubt that you have done either.

Embarassed about a negative net worth? That's the fact of life for a vast majority of people with mortgages. People hiding from the truth of a negative net worth is also part of the reason why we as a country are in the financial mess we are!

I'm quite sure that the reason this software was created and developed was for the purpose of selling it to users. So like I said....


I don't think too many people are going to like opening up their iBank app to see a huge negative number indicating their net worth. Would also be a tad bit embarrassing when using on an airline or in a crowded area.

I don't think too many people are going to buy/use this app, therefore I predict a flop. Side note:
American's having negative net worth is not the root of why America is in the financial mess it's in. I'm not paid to teach on here, but for the sake of filling in the apparent gap in your knowledge, the financial mess was caused by certain key factors: increased foreclosure rates, increased unemployment, unpaid debt owed to financial institutions, and other financial instability. All negative net worth means is that you have debt; it doesn't say anything about wether or not you're paying it off.. and tens of millions of people have negative net worth without having contributed to the financial mess.

donthaveacowman
Feb 12, 2012, 02:01 PM
I'm not paid to teach on here, but for the sake of filling in the apparent gap in your knowledge, the financial mess was caused by certain key factors: increased foreclosure rates, increased unemployment, unpaid debt owed to financial institutions, and other financial instability.



I'm not paid to teach on here either, but I think it's worth pointing out that you are confusing cause and effect here.

The things you mentioned above are the EFFECT, not the CAUSE, of the financial mess. The CAUSE of the mess was (and remains) artificial interest rates (aka easy money policy) set forth by the Federal Reserve, corrupt politicians (bought and paid for by the Fed's buddies at Goldman Sachs, JP Morgan, etc), and flawed housing (among other) policies passed by the profligate and corrupt congress. But I digress…

cuencap
Feb 12, 2012, 09:29 PM
I'm not paid to teach on here either, but I think it's worth pointing out that you are confusing cause and effect here.

The things you mentioned above are the EFFECT, not the CAUSE, of the financial mess. The CAUSE of the mess was (and remains) artificial interest rates (aka easy money policy) set forth by the Federal Reserve, corrupt politicians (bought and paid for by the Fed's buddies at Goldman Sachs, JP Morgan, etc), and flawed housing (among other) policies passed by the profligate and corrupt congress. But I digress…

Thank you for clarifying this for our friend roofz.

Roofz:
In laymans terms, I meant that people have negative net worth because they are buying things (houses, cars, electronics, toys, etc) that they can not truly afford. As noted directly above, this leads to the issues you have pointed out: increased foreclosure rates, increased unemployment, unpaid debt owed to financial institutions, and other financial instability.

PS-the fact that two people voted for your inept post is embarrassing, and may be yet another reason of why we are in the situation we are in as a country.

PPS-I should clarify that I have no issues with negative net worth. As long as the person is paying down the debt, and not walking away from it.

jimthing
Feb 14, 2012, 12:46 AM
Are any of these valid for use in the UK?
(I mean beyond just offering £ symbols in them, rather than $ !)

- Quicken pulled out of the UK market with Essentials, and their Mint.com is US only.
- MS Money died a while ago now (for usage via Windows VM's).
- and we really want Mac-specific apps, anyway, rather than Windows VM's.

So that leaves iBank (market leader?) or MoneyWell for UK people's needs...
Importing current AND savings accounts, tracking investments (eg. OEICS), ISAs (cash &/or share types), running two different lots of data (eg. my own separately from my pensioner mum's whose I have to do), et al ?

Any of these any good for us UK folks?

Macense98
Feb 14, 2012, 08:56 PM
It is good that people are able to receive the personal loans moreover, that opens up completely new chances.

JordanMarcus
Jul 18, 2012, 07:35 AM
Accessibility is always the practical way now a days. I bought an IPad and I never regret getting one since I like the idea of downloading news in finance and tax reforms (http://www.rudolflaw.com/2012-07-18/tax-reforms-reducing-rates-by-curbing-tax-breaks.htm). A person engaging in business like I do should be updated at all costs.

Arelunde
Jul 18, 2012, 01:23 PM
After reading this thread, I bought iBank to replace the Quicken 2011 on my PC and Quicken for Mac - a disaster, IMO.

It was scary to shift everything over, but it worked smoothly. I ran the PC Quicken and iBank parallel for a short while, and recently shifted entirely to iBank. I've seen some articles on the potential demise of Quicken/Intuit and decided an alternative program/app was advisable.

Using iBank has been a good experience, but I don't have any of the automatic features enabled. I don't want any app downloading directly from my bank account or investments. Enabling these not only makes things more complex (for me), it's also scary from the privacy side of things.

Working with iBank has required a learning curve, but gradually, I'm getting comfortable with it as a replacement for Quicken. I'll be staying with it.

Daysight
Jan 5, 2014, 05:50 AM
After reading this thread, I bought iBank to replace the Quicken 2011 on my PC and Quicken for Mac ... It was scary to shift everything over, but it worked smoothly. I ran the PC Quicken and iBank parallel for a short while, and recently shifted entirely to iBank.
Ditto. I just archived Quicken after running them in parallel too, and I am enjoying iBank and not running Windows on my Mac. Nice to finally have a full-fledged alternative. Still undecided about trying their iPad version. I can go online to check our accounts via my iPad if I need to, and I'm reluctant to get into the syncing problems for such a critical task as our book-keeping. The reviews on the iTunes store make me uneasy too.