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Subject Author Date
Collection of Online Account Information RD 01-03-2007
Posted by RD on January 3, 2007, 1:10 pm
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 Just reading through the license.rtf document on my Quicken 2007 CD and
found the above mentioned section. Does anything in that section concern
anyone? Things like:

"Intuit may collect your online account information ("Account Information"
as defined below) from providers and other sources of online information
(these are referred to as your "Institutions")"

"In addition, for each of your registered Institutions accounts, we may
collect your online Login Information."

"By providing Login Information to us, you expressly authorize us to act as
your agent with limited power of attorney to access and retrieve Account
Information from your Institutions accounts on your behalf."

etc... I really don't like giving anyone power of attorney and am wondering
if I am being overly paranoid as I will want to use online banking
functions. I currently use Microsoft Money 2004 and would like to migrate to
Quicken as I think MS has destroyed a wonderfully useful program with their
2007 offering.

RD



Posted by L on January 3, 2007, 2:56 pm
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> Just reading through the license.rtf document on my Quicken 2007 CD and
> found the above mentioned section. Does anything in that section concern
> anyone? Things like:
>
> "Intuit may collect your online account information ("Account Information"
> as defined below) from providers and other sources of online information
> (these are referred to as your "Institutions")"
>
> "In addition, for each of your registered Institutions accounts, we may
> collect your online Login Information."
>
> "By providing Login Information to us, you expressly authorize us to act
> as your agent with limited power of attorney to access and retrieve
> Account Information from your Institutions accounts on your behalf."
>
> etc... I really don't like giving anyone power of attorney and am
> wondering if I am being overly paranoid as I will want to use online
> banking functions.

When you use Quicken to initiate online banking requests, the Intuit servers
initiate and recieve banking information from your financial institution. If
you do not wish to allow Intuit access to your online banking passwords, and
do not wish to allow Intuit permission to initiate banking requests (the
limited power of attorney) then do not use online requests within Quicken.
It is entirely possible to access many financial institutions on their own
websites, using a secure web browser. Be aware, however, that many of the
time saving capabilities, such as downloading information directly into the
software, may not be available outside of using the Intuit servers. It used
to be that banks could provide QIF files for import into Quicken. But Intuit
has disabled the QIF import function for bank and credit card accounts (for
our protection, surely. And nothing to do with the fact that Intuit charges
financial institutions for the use of their servers for direct download).

> I currently use Microsoft Money 2004 and would like to migrate to Quicken
> as I think MS has destroyed a wonderfully useful program with their 2007
> offering.
>
Just out of curiosity, what was done?



Posted by Stubby on January 3, 2007, 4:29 pm
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I'm not a lawyer but I believe anyone (person or company) who collect
person privacy information and puts it in a "database" is regulated by 5
USC 550(b). Please look it up and summarize for us.


RD wrote:
> Just reading through the license.rtf document on my Quicken 2007 CD and
> found the above mentioned section. Does anything in that section concern
> anyone? Things like:
>
> "Intuit may collect your online account information ("Account Information"
> as defined below) from providers and other sources of online information
> (these are referred to as your "Institutions")"
>
> "In addition, for each of your registered Institutions accounts, we may
> collect your online Login Information."
>
> "By providing Login Information to us, you expressly authorize us to act as
> your agent with limited power of attorney to access and retrieve Account
> Information from your Institutions accounts on your behalf."
>
> etc... I really don't like giving anyone power of attorney and am wondering
> if I am being overly paranoid as I will want to use online banking
> functions. I currently use Microsoft Money 2004 and would like to migrate to
> Quicken as I think MS has destroyed a wonderfully useful program with their
> 2007 offering.
>
> RD
>
>

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