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Yes, that is one of the ways Quicken scrapes information. The "bank API" is actually OFX, it's a protocol banks use to send each other data. I'm currently work
by bobblywobbles 7y ago
Yes, that is one of the ways Quicken scrapes information.
The "bank API" is actually OFX, it's a protocol banks use to send each other data. I'm currently working on trying to get OFX support in My Budget. (I'm the author of the Github project).
- procinct 7y agoIt seems insane that people would be okay with their bank credentials being stored in plaintext. I signed up for a budgeting service that claimed real time transaction sync and immediately unsubscribed when I realised it was planning to do so by scraping.
- chiph 7y agoPeople give their passwords to Mint, and I totally don't understand that.
- acct1771 7y agoThe banks in the US won't cooperate, according to everyone I've heard stories from who are trying to break into, or have broken into, this space.
- procinct 7y agoThat’s still not a good reason to give your bank credentials and allow them to be stored in plain text. At that point if it’s your only option you just don’t do it.
- 0xffff2 7y agoQuicken at least claims to store the credentials locally and encrypted. How well it does this I don't know of course, but I consider it infinitely better than any online service, which is why I still use it despite the fact that it manages the impressive feat of being so slow that a web-based service would probably be faster in terms of UI performance.