It’s been almost a year since personal finance startup Mint.com was acquired by Intuit, who this weekend will officially shut down Quicken Online and direct its users to Mint.com. Quicken Online will be shuttered on Sunday, August 29, according to a note on the product’s login screen. It will be replaced with Mint.com, where users will need to set up a new account if they do not already have one. Quicken Online users will be able to manually import certain account data into Mint.com by adding Quicken Online as an account in Mint. Quicken also encourages existing customers to export their Quicken Online data as a CSV file for backup purposes. All transaction and account data will be wiped from Intuit’s servers beginning on August 29. One group for whom this transition might be a challenge is the small business users of Quicken Online, who will no longer be able to access the Web component of Quicken’s Home & Business product. Since Mint.com is geared toward personal finance, it does not currently offer a way to differeniate between personal and business transactions. For that, business customers still looking to manage their finances online might want to consider alternatives like InDinero or Outright. The desktop versions of Quicken’s products will not be affected by the change.
It took a relative newcomer, a fledgling startup from outside the hallowed halls of the banking industry, the personal finance field or the investment community to show the financial world how personal money management could be done online. Mint.com was acquired by Intuit, a veritable household name in financial software, just one short year ago. Now, Intuit will officially shut down its flagship Quicken Online Website and direct its users to Mint.com.
What Mint.com does better than practically anybody else these days is give you a global snapshot of your financial picture at a glance. It manages to do that by logging into each of your personal checking, savings, credit card and loan accounts, using your encrypted login and password information to do so, and compiling that information into a personal dashboard of figures and pie-charts, all with fingertip controls.
Want to monitor each of your accounts with just one simple login. Mint.com will save you that time, and its round-the-clock reporting and budget alerts will mint you freshly saved money. And, as they say, that is just the tip of the iceberg.
By tracking your financial activities in several budget categories, Mint will alert you if there is a sudden change in ther picture. It will alert you, via instant message, email, smartphone alert, or all three, when the focus changes. “A large deposit of $1500 has been posted to your checking account.” ”A low balance of $345 has been detected in your savings” ” You have exceeded last month’s automotive budget by $100.” Some banks charge for dropping below a minimum balance while others charge for accidental overdrafts. Mint.com minds your money like a watchdog to keep you in the know. It’s your money? Do you know what is could be costing you?
Previous users of Quicken Online will need to set up a new Mint.com account if they do not already have one but will be able to manually import certain account data into Mint.com by adding Quicken Online as an account in Mint. Quicken is also encouraging existing customers to export their Quicken Online data as a CSV file for backup purposes. All transaction and account data will be wiped from Intuit’s servers beginning on August 29.
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