Submission + - Banks dropping MS-Money and Quicken features
dotslash writes: Nemertes Research reports the disturbing response of banks to banking regulations aimed at identity theft: Dropping support for MS-Money and Quicken features! .
As of the end of the year, many banks may be dropping support for online direct connections from Microsoft Money and Intuit Quicken while scrambling to comply with new banking regulations. If you are a user of these software applications you may find that you lose features either temporarily or permanently. Features based on direct connections from the software to the bank, such as bill-pay, automatic statement downloads and reconciliations and money transfers will no longer be supported by some banks.
Here's an excerpt of email sent to HSBC customers:
"On December 10, 2006, you will no longer be able to use the DirectConnect feature of Quicken and Money to connect to HSBC's Personal Internet Banking service. However, you can still download your HSBC transactions into your Quicken and Money software using the WebConnect feature. Simply log on to Personal Internet Banking to perform your banking transactions, select "View Accounts", and then "Download a File." Your account transactions can then be imported into your Quicken and Money software."
As of the end of the year, many banks may be dropping support for online direct connections from Microsoft Money and Intuit Quicken while scrambling to comply with new banking regulations. If you are a user of these software applications you may find that you lose features either temporarily or permanently. Features based on direct connections from the software to the bank, such as bill-pay, automatic statement downloads and reconciliations and money transfers will no longer be supported by some banks.
Here's an excerpt of email sent to HSBC customers:
"On December 10, 2006, you will no longer be able to use the DirectConnect feature of Quicken and Money to connect to HSBC's Personal Internet Banking service. However, you can still download your HSBC transactions into your Quicken and Money software using the WebConnect feature. Simply log on to Personal Internet Banking to perform your banking transactions, select "View Accounts", and then "Download a File." Your account transactions can then be imported into your Quicken and Money software."