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Old 03-10-2016, 06:58 AM
 
30 posts, read 20,899 times
Reputation: 34

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Does anyone here use Personal Capital financial software for tracking expenses, doing a budget, and tracking ones net worth?
It seems like it would be a very handy tool for these functions.
My question is do they require all your bank account numbers, credit card numbers to track all of these things?
If they do, do you believe it is safe to just hand over all of these sensitive numbers?
I look forward to any insight anyone might have on Personal Capital. Thanks
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Old 03-10-2016, 07:06 AM
 
6,253 posts, read 4,731,924 times
Reputation: 12844
I did not get far enough to see if they want account numbers, credit card numbers, social security numbers and other critical information. It was enough for me to see that my complete financial information would be on the web. No way would I do that. Nor do I want to be able to view this information from a cellphone or other device. I would only use such software if is was only on my computer without any web access.
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Old 03-10-2016, 03:07 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,569 posts, read 39,952,759 times
Reputation: 23699
Yes, they want everything,,, accts, passwords, ssn... Thus I bailed on them, they are very persistant and spam you for the life of your email, even if you unsubscribe daily.

That seems pretty untrustworthy....

Options...
You can write macros within excel to go query all your accts, and to grab real time pricing on all your equities. Run the macro on your own time / secure connection.

A friend uses 'interactive brokers' and consolidates several accts and can blanket change allocations from one acct.

You can link all this above stuff to quickbooks, and download QB to your tax software.

But don't ask me... I am sick of computers / dialup... I just do what is necessary.
International travel is a gem for connectivity compared to rural USA.
What are the Pres Candidates saying about our USA minimal and aging infrastructure? We (USA) are loosing that race. I will not be hearing from the candidates until I return in Oct 2016. Thank goodness I have this yr away from USA media.

Last edited by StealthRabbit; 03-10-2016 at 03:17 PM..
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Old 03-11-2016, 06:53 AM
 
58 posts, read 41,647 times
Reputation: 162
Quote:
Originally Posted by StealthRabbit View Post
Yes, they want everything,,, accts, passwords, ssn... Thus I bailed on them, they are very persistant and spam you for the life of your email, even if you unsubscribe daily.

That seems pretty untrustworthy....

Options...
You can write macros within excel to go query all your accts, and to grab real time pricing on all your equities. Run the macro on your own time / secure connection.

A friend uses 'interactive brokers' and consolidates several accts and can blanket change allocations from one acct.

You can link all this above stuff to quickbooks, and download QB to your tax software.

But don't ask me... I am sick of computers / dialup... I just do what is necessary.
International travel is a gem for connectivity compared to rural USA.
What are the Pres Candidates saying about our USA minimal and aging infrastructure? We (USA) are loosing that race. I will not be hearing from the candidates until I return in Oct 2016. Thank goodness I have this yr away from USA media.

I had the same experience. I did see something that said it could be run in "secure" mode, but was unable to get past demands for account numbers so dumped them too.


A friend of mine has written an offline calculator which can be downloaded - I don't know if it is appropriate to post the link here, but I will happily do so if I can. I use the system and really like it.
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Old 03-11-2016, 01:18 PM
 
Location: Charleston, SC
1,362 posts, read 766,848 times
Reputation: 2428
"financial software for tracking expenses, doing a budget, and tracking ones net worth"

I track expenses in my checkbook ledger, I do a rough budget on paper, and a track my net worth in excel, complete with pie charts.

And nobody sees my account numbers or passwords !!!
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Old 03-11-2016, 01:56 PM
 
Location: RVA
2,165 posts, read 1,265,978 times
Reputation: 4456
PCF is hawked heavily by the blogger Financial Samurai, who is a Millenial "self made millionaire" that worked a few years in the investment industry, got lucky on a few investments and some real estate, retired in his late 30s, and touts "his way" as a way anyone can be financially independent with a 250k/yr income. Much of his income is made by owning successful blogging sites where he churns information to get maximum hits and gets paid by the hit. Most of his advice is worthless, and he selectively cuts any blog replies that call him on his BS, and he posts the ones that generate the most traffic. He's been smart at making money, assuming it's all true, but his methods are neither time tested or relatable to most people. Sort of like, "First, make and save a million dollars, but not by working, just be smart and invest in things that make money, then, all you have to do is..." Kind of thing.

Only a person with a financial death wish would give anyone all their account numbers and passwords! When I called them on it by email, all I got was canned emails saying all data is secure ! What a bunch of shysters! I let them know I was reporting them to the cyber crime division of the FBI. ALL emails from them stopped.
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Old 03-11-2016, 02:31 PM
 
30 posts, read 20,899 times
Reputation: 34
Thanks for all the replies. I know that Fidelity with which I have a brokerage account with has a similar product and I believe I would be a little more comfortable with since they have my account number to begin with.
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Old 03-13-2016, 06:28 PM
 
Location: RVA
2,165 posts, read 1,265,978 times
Reputation: 4456
Fidelity also allows you to simply manually update account values and continue on.
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Old 03-15-2016, 04:36 AM
 
Location: Full time in the RV
2,867 posts, read 6,406,924 times
Reputation: 2420
I use a similar program called Mint and it works fantastic.

Yes, you have to give them all your login info but that is what makes it work.

The program does not allow changes to your accounts, it is view only.
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Old 03-15-2016, 06:47 AM
 
58 posts, read 41,647 times
Reputation: 162
Quote:
Originally Posted by RMD3819 View Post
I use a similar program called Mint and it works fantastic.

Yes, you have to give them all your login info but that is what makes it work.

The program does not allow changes to your accounts, it is view only.

My concern is that without knowing the background infrastructure I cannot know that my savings are truly safe. Perhaps there is read only gateway, but it is more likely that institutions have a standard gateway with some kind of flag to determine what the desired transaction is. Perhaps they have additional safety checks to ensure that certain systems have read only access, but again we don't know that.


What I do believe is that to a financial institution, someone entering my account number and password is me and they will grant me the appropriate access and let me do anything I want to within my account. So there is no way I am giving that data to anyone at all, no matter what they promise me. Maybe paranoid, they might be really trustworthy companies, but those passwords are never given out. Period.
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