Mint.com on August 29 could be where Quicken Online users will be putting their personal finance data. Quicken Online won’t let everyone else sign on now. Mint.com was bought by Intuit who made Quicken for about $ 170 million. In February, Intuit sent a message to Quicken Online users that their account histories and connections would be “migrated seamlessly” to the Mint budgeting site. Users have to transfer their own accounts because there are different software programs on the two websites. There are a lot of problems with the Quicken Online to Mint migrations.
Something Intuit made a ‘boneheaded move’
Quicken users were surprised by the Quicken Online to Mint migration. Many thought the transition would be made automatically. But a Tech Crunch report said Intuit later decided the complexity of merging the two platforms precluded achieving the transition with “elegance or accuracy.”. The possibility for error would give Quicken Online users inaccurate personal financial data in Mint. They would have to double-check and manually correct the errors and omissions. There wasn’t any time for users to change their accounts from Quicken Online after Intuit announced this. Tech Crunch thinks that was a “boneheaded move” on Intuit’s part.
Alternatives for budgeting
August 29 is when Quicken Online users will lose all their details from Intuit. Users who want a record of their transactions must export the data to a file before the site is shut down. The New York Daily News said that Quicken Online users who do not want to migrate to Mint have possibilities for their personal financial data. Intuit is using the Quicken Online to Mint migration to promote Quicken desktop products as an choice, but they’re not free. Any of these Intuit desktop products will cost you. They cost $ 50 to $ 90. A basic Quickbooks Online account starts at $ 120 a year. In case you are just sick of Intuit, you will find other opportunities. These websites are HelloWallet.com, Yodlee.com and GnuCash.org.
Intuit does poorly
The Quicken Online to Mint migration is hard for many. Evidently Mint and Quicken Online just do not get along if you ask Jonathon Blum at the Street. Because of the different software platforms, Quicken Online data doesn’t flow directly into Mint. Data has to go through like it would with a bank or credit card. Half of the accounts moved to Mint from Quicken Online have business transactions lost in there. An Intuit representative said the migration system made data converted from Quicken Online to Mint ledgers 90 percent accurate. Blum thinks that 90 percent means a failed accounting grade.
Additional reading
Tech Crunch
techcrunch.com/2010/07/19/quicken-online-users-saw-the-bait-took-the-switch-to-mint-com-and-are-left-with-nothing/
New York Daily News
nydailynews.com/money/2010/08/20/2010-08-20_quicken_online_free_budgeting_site_to_shut_down_by_september.html
The Street
thestreet.com/story/10841504/1/quickens-migration-to-mint-is-not-so-fresh.html?cm_ven=GOOGLEFI
