Intuit Money Manager Review

Indian people are known for managing finances on their own. But recently an US personal finance major has entered Indian subcontinent with its money manager software named Intuit Money Manager and I belong to the cadre of people who are poor at managing finances. After seeing this product and reading many of their testimonials, I finally decided to get a one year subscription of the Intuit Money Manager.

At the time of first login, I was really amazed with the user interface and the number of banks it covered. It has two versions, one for high bandwidth users where the quality of charts were high as compared to low bandwidth version, AJAX gave this web application an extra kick with ease in navigation!

Did some browsing and later added all my accounts (Credit Card Accounts and Bank Accounts). For this all I had to do was to log into my bank within their interface by using my NET ID’s. At the backend the system will link my accounts to money manager ID.

After adding all the accounts, for the first few days I thought that it may to be due to technical knowledge gap. Every time I login it will show me an error message stating you have to refresh you accounts to get the updated balances.

Secondly, there is not even a single button to refresh all the accounts at one go. I had to sit and give at least thirty to forty minutes only for refreshing balances believe me it’s really a tedious process. On the other hand Refresh will not guarantee that it will update your balances. There were instances where I was prompted to raise an issue with their customer support.

Times when refreshing was successful there was another part to it, segregating all entries into categories which will take at least twenty more minutes.

Last but not the least, this service is only accessible through Money Control. First the user has to login to the portfolio section of Money Control, after logging into portfolio section we have to browse to the end of the page to access the intuit money manager. Once you click on the link then again you have to enter the intuit money manager password.

Overall I was really upset after using this software; two months have passed already where I was not able to use the service to its fullest. So at the end I have stopped using this service and started using excel template to manage my expenses. I think Microsoft Excel is far better than Intuit money manager.

I will wait for the intuit money manager team to improve this product and will definitely try if it becomes more robust and easy to understand.

  • Hi,
    I'm Vidyuth and am with the Intuit Money Manager team. We're sorry you had an average experience… but we've been constantly improving the product since. I'd request you to take a look at the product now, and share your thoughts. Let us know if you feel there have been improvements…

    • venu

      Is this still working? doesnot look like.. pretty frustrating experince

  • M Gill

    I urge potential users to avoid this product. Intuit is aking you to furnish your banks login passwords, anyone who agrees to this must be very naive. Most banks have only a single password, which gives full access to view, transact etc. Very few banks require a transaction password. One example is Deutsche Bank. Intuit claims that they only require your viewing password, this is disingenuous, since for most banks the so called viewing password is the only password. What guarantee is there that the information will not be sold off by some back office staff to a hacker who will then strip your account clean? I wrote to this company some months ago, they never bothered to reply, not surprising, since the question is awkward. I wonder how banks like Citi and Std Chtd have permitted them access and I am going to take it up with them.

    • Vira

      I am quite disagree with gill the all the above comments.. I was user of arthmonty.. slimier kind of product. but the site is pathetic.. but in case of intuit money manager its really great idea and good experience..

      As the blogs said there is no button to refresh all accounts. but i am using one button on home page that is adding all my transaction in minutes.

      About the back password, i have read the agreement intuit money manger offers.. my lawyer said its 100% safe about privacy law.

      I also confirm with my US friends about the intuit experience.. 90% of US personal fiance market is covered by intuit.. and US laws are US laws.. if intuit is working on US laws.. means it 100% safe for me..

      I observed one more thing due to some work if i not visit the site my account is automatically getting refresh.

      yah.. site need broadband connection… otherwise its too slow.. but i guess if some buddy is using paid tool to manage the money.. he can effort broadband.. at least i can do.

      I loved trends tab.. i am now saving all over 30% money with the help of clear charts.. i was spending too much on my credit card .. and on drinks and on food.. i am now fixed budget and tracking it with goals.

      i guess — few users has faced some issues before but for me experience was really good.

    • Shiva

      I perfectly agree with you. I have given all my user id and password as of now, but am scared what if someone hacks. Guess I might close down my account with MM soon. 
      Guys, the tool is great as long as it works. Its only a  few days and if someone hacks into your accounts (Infact all), Imagine your plight. and India is a country where these laws are not strict. Intuit will run away and leave us in lurch. Please be aware of what you are doing before going in for this product. I liked MS money which was more offline in my computer. Had it been the same way from intuit, I am all for it. 

  • Anand Prakash

    I was thrilled when I read about the features of INTUIT MONEY MANAGER and provided the required information in their SIGN UP Form..Just after SUBMITTING the WEB Page went BLANK. I was shocked , U cannot afford to take such risks of Casual treatment of ur sensitve matters like Finance . I urge upon potential users of Intuit money Manager to keep in mind the APPrEhEHENSIONS expressed by Mr M Gill in his comments above.

    Anand Prakash

  • Ramesh Sc

    Guys! did U try moneycenter.yodlee.com

    Its free and amazing, supports almost all india financial accounts

  • Robin

    Guys ,
    I have been a user of this software for the last 2 months. It does a pretty good job categorizing my spending. helped me identify some spending patterns :). Saved me quite some amount of money.

    The pie chart on home page is a cool feature. Also the panel on left side showing the accounts has some useful shortcuts .
    All in all a thumbs up to Money manger from me

  • Bala Sakthis

    I didn’t go through the feedback and even without taking a trial, blindly purchased it. Only after adding bank accounts, I started facing problems. I couldn’t add my Axis bank account which has an enhanced security feature. I reported this problem to the Intuit team and they confirmed that Intuit will not work for such banks. I felt completely disappointed and deleted my account.

    Anyway, a new learning for Rs. 358.60. I am planning to go by the author’s recommendation of using an Excel sheet.

    Thanks!
    Bala

    • Vips D

      I agree with Bala…INTUIT Money Manager doesnt support any of the Banks which have enhanced security like SMS based Authentication enabled…. It was a complete dissapointment after the Purchase as half of my Bank accounts like Union Bank of India, Kotak Bank are not supported using the tool….. If INTUIT reccomends using the excel sheet then I would prefer to stick on to my existing Banks which already give me a snapshot view for my portfolio. The sole reason I moved to INTUIT Money Manager was that I would have got a consolidated snapshot of my entire Portfolio. What hurts at the end of the day is that INTUIT Money Manager do not explictly call out the fact BANKS with ENHANCED SECURITY [SMS Based Authentication] can not be used. As a customer I am Dissapointed not beacuse the tool has limited capabilities but because the INTUIT has not been transparent to its Customers. If the PMs are hearing this please take the feedback.
      Vipul D

  • Abhhinav_garg

    guys, have you tried http://www.perfios.com yet? it does all that intuit/artha/yodlee do…..an lot more!

    • Yes, I have been using it for past many days now… perfios is quite more efficient than intuit money manager, but cant comment on Yodlee.