Quicken or iBank?

[titelines]

We're finally trashing our old home computer and replacing it with a Mac laptop.

I have been using Microsoft Money to do all of our personal banking at home, but will be changing that too.

Have researched Quicken and iBank and, depending on who you talk to, they both have their pros and cons.

I really don't do any crazy banking or anything, just keep track of expenses and income, get reports on where money is spent (categories etc.), record transactions and when they're reconciled etc. Seems like both programs will do what I need them to do.

Anyone have any opinions either way? How about user-friendliness etc.?

Thanks!

[Nick Kuhn]

I just use a fairly elaborate Excel spreadsheet. Although if you aren't familiar with macros in Excel it probably isn't the best way to do things for you.

[Chef]

Quicken

[brainard6]

You can buy a program where you can run windows programs on a apple computer. Have you looked into that and still run Microsoft money program?

[spearchucker]

You can buy a program where you can run windows programs on a apple computer. Have you looked into that and still run Microsoft money program?

Money is obsolete and not supported anymore. Many banks are discontinuing supporting it on their websites as well. Quicken works well. Their is also online solutions like Mint dot com that is owned by Quicken now.

[Shack]

SC has a great point. I use the services my bank provides on-line. IMHO there are some of the best options for money management available.

For those who choose to use a money client instead on on-line banking service or avoid using on-line in a secure home network for their banking, hate to say it but you already are. Every aspect from seeing a teller to using a cash machine is on-line. Most likely your bank has already created an on-line account for you and you just need to access it. With a good case sensitive password, internet security, with the banks end as secure as it gets, you have just as much chance of being compromised not using on-line service offered from your bank than if you do. You can down load plans, statements via CVS and compile anything from on-line that you can from a money client. The downside to using a Quicken or other any other client, is your banking info and records are stored locally (your PC) and you have allowed a third party access to what your bank(s) and you deem secure. I would put money down that a hacker or hacking program would fold your PC's security 1000 times easier/quicker than the banks on-line access and features security related to your account. Really, banking with Quicken or any other local money client is a weak link unless you know what your doing and should IMO should be avoided. Not to mention a PC crash and properly having to back up your finical data. On-line this is done already for you and reports are ready.

When you hear of a place who has had their security breached such as a large bank and their customers info has been stolen, this includes many who have never banked on-line. Point of access with your password is really the only thing needed to be really secure from your end. Money, Quicken and other applications the password is the first step in a long list of steps the end user must do. People even pay money for these programs.

[spearchucker]

I have used Quicken on my PC for over 10 years. I download the information from bank and credit card websites into Quicken automatically. This is no less secure than using the bank's HSOforum. It is a secure encrypted connection. My point was that Money is obsolete and discontinued so many banks are phasing out support for download transactions in the Money format. I backup regularly so I am not worried about losing my data.

[Shack]

SP I would include you in the "unless you know what you are doing" category I stated.

My point was for the run of the mill PC user a third party client with "allow all" checked by default in the firewall settings (most have no clue when it comes to the install that they are given an application full access to come and go as it pleases) is a third pair of hands that has direct access to your checking and other account numbers and your account balances (maybe even more like card numbers) that is no longer needed.

Today (Wells Fargo for example) banks have all the features of a third party finical client on-line. Using Wells Fargo again, they already have an on-line account created that they use from day one and even for accounts prior to on-line accounts. You just need your social and maybe another forum of id to change the guest login password they created for the customer over to a password of your choosing. It is their, accessed and used by the bank every time you inquire or make a transaction with your account. With less permissions and features/options as a banker when we access of course. Directed at those who say they will never bank on-line, but you are already so why not cut out a middle man as another point of worry and go on-line instead.

The only aspect I know of with Quicken and it being less secure, secure encrypted connection or not, it is a third party you are letting into the circle of trust that no longer needs to be their. I assume this is why banks have advanced with their on line stats report generation. Actually from my experiences (couple years back now) with Quicken and comparing it to what I do and get as far as finical info on-line from my bank (breaks down automatically and categorizes with crazy stats all transactions with your accounts from around 2 years back till today and provides very good future insight on savings and spending and almost anything you would think you would ask from a local based money client) I just have been tickled pink with the "it is all their with no effort" aspect to todays on-line banking with your bank.

I would suspect Quicken even puts your banking info in the cloud via a radio button option the user may unknowingly click and why have it up their twice? Quicken is not the issue. It is todays hackers either getting into what Quicken collects or your local PC and backed up files via your home or work network and then the bank being attacked. On-line banking today has, depending on what or if you choose to download and store locally, has given hackers two less options to target and having your financial info stolen. That is if you choose to except this of course.

[spearchucker]

I am not using the online version of Quicken so their is no middle man involved. None of my data goes through Quicken's system it is download directly to my PC from the bank or credit card's HSOforum via a secure connection. The Quicken app lets you consolidate all of your accounts in one place. No less safe or different than using a web browser to do your banking.

[Shack]

Wow! First program of any caliber to not request or sneak its hole threw a firewall for automatic updates or at least feed back. Also I have never crossed the non-internet version of any program. I will have to check into Quicken. Maybe a reason why it is still around.

[upnorth]

Shack most apps go out on port 80(http, www) for updates. You close that down on your firewall and good luck web browsing. Depending on your firewall you may be able to block outgoing to certain sites, but most people and places just don't bother. We have a URL filter that we use at work, that blocks by categories and can add certain sites, but pricey both in install and monthly fee for updates.

[spearchucker]

We have a URL filter that we use at work, that blocks by categories and can add certain sites, but pricey both in install and monthly fee for updates.

Off topic, but have you tried using openDNS? It allows you to block sites and categories at the DNS level. We use it at work and I use it for home DNS and it seems to do a good job. It catches some bad malware sites before they load.

[upnorth]

No I haven't and not really familiar with it. The ones I have setup and used are the ones put out by the firewall vendors. McAffee Enterprise Firewall and Watchguard. Not a fan of Watchguard myself.

For home $9.95 a year wouldn't be bad if you want a bit more control over where the kids go. Not sure about the enterprise pricing, but if they are close to the $5 per user per year as they are for SMB it wouldn't be so good for us.

I have been using Avast on my windows 7 laptop and it has a built in malware detection feature, if sees a site that is listed as malware it won't let ya go there.

[spearchucker]

No I haven't and not really familiar with it. The ones I have setup and used are the ones put out by the firewall vendors. McAffee Enterprise Firewall and Watchguard. Not a fan of Watchguard myself.

For home $9.95 a year wouldn't be bad if you want a bit more control over where the kids go. Not sure about the enterprise pricing, but if they are close to the $5 per user per year as they are for SMB it wouldn't be so good for us.

I have been using Avast on my windows 7 laptop and it has a built in malware detection feature, if sees a site that is listed as malware it won't let ya go there.

openDNS is a free DNS service. It is much faster than my ISP DNS and seems more reliable. You should take a look at it. You can select categories of sites to block along with blocking specific sites and domains.

I also use the Microsoft Live filtering on the kids accounts. It seems to work well to. If they come across a site that is blocked they can click a link that will send me an email asking for permission to access it. Works well.

[upnorth]

I manage the DNS for our site. And it is quicker when you have 500+ users to have it blocked at the firewall than through DNS a lot less traffic to and from then. And since it is just the wife and I here no real need to run a URL filter here.