How Reliable is Mint.com?

Hey everyone,

So I'm about to start my analyst stint and I'm making a rough budget to decide how to allocate my money and I came across mint.com as a resource that several people have pointed to. Has anyone used it and can anyone attest to how secure and reliable it is?

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Best Response

I've been using it for 2 years and haven't had any issues. I have it linked to all of my accounts so at any time I can just open the app and see exactly how much I've got in retirement, checking accounts, mortgage balance, etc. You can also add your assets (house, car, etc) and it will give you your net worth each time you open the app.

 

didn't read others responses. I use it as well, you won't have any issues with places that have single layer identification (like American Express) but you will have issues if there's 2 layer (user, password, identify picture of a bird taking a shit or something) like Bank of America. I will say it is terribly depressing to get the weekly financial summary emails after a big weekend at a wedding or something, so I'm not sure how good it is as a means to curb spending.

 

you won't be able to get account data if you bank with BofA or some other 2 layer security layer using bank. reason is, mint stores your password & username and basically logs into the banks website for you each time and pulls the data. if your bank has another step, mint can't sync the data. never used it with BofA (don't bank with them), they're just an example I've heard that gives people issues. also, I've heard UBS brokerage accounts have issues.

 

good to hear, my girlfriend has them and deleted the app because BofA wouldn't sync. that was more than 2 years ago so maybe she should re-install it.

point being just don't expect to have all of your banks work perfectly. I'm not suggesting you use banks based on whether they're mint-compatible, but just realize that there is a limit to the technology.

 
thebrofessor

good to hear, my girlfriend has them and deleted the app because BofA wouldn't sync. that was more than 2 years ago so maybe she should re-install it.

point being just don't expect to have all of your banks work perfectly. I'm not suggesting you use banks based on whether they're mint-compatible, but just realize that there is a limit to the technology.

A couple years ago Mint had issues with BofA's SiteKey multi-layer verification. They have since remedied the problem and it now works fine.

"For all the tribulations in our lives, for all the troubles that remain in the world, the decline of violence is an accomplishment we can savor, and an impetus to cherish the forces of civilization and enlightenment that made it possible."
 

Capital One had 2 layer security and mint works fine. You just need to set up an access code that mint will use. I imagine most banks with 2 layer security have something like this.

"Money doesn't talk, it swears." -Bob Dylan
 

I've been using Mint since 2008 and love it to track my spending. It is owned by Intuit (TurboTax, QuickBooks, etc.) so you can take comfort in knowing they take security seriously.

An alternative that I have been using more and more recently is Personal Capital. Mint is good for budgeting and tracking spending, but I find Personal Capital to be much better for investment tracking. I actually have both linked to all my accounts and find myself referring to both quite frequently. Also, Personal Capital's iPhone app is much better than Mint's.

Good luck with your analyst stint!

 

I've had issues with it over the past 3 months. On one day of the month, it will make duplicate entries of every entry I had that month. I really love it but when that issue arises it makes using it worthless. My bank accounts are with PNC and I've heard that happens sometimes with PNC accounts.

 

It is the best invention ever. It is extremely userfriendly. My sister has like 6-7 credit cards, 2 debit cards and several investments and mint helps her to keep track of everything. I was simply impressed

 

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