DISQUS

Bible Money Matters: 3 weeks with Mint.com

  • Jon · 1 year ago
    Are you concerned at all with giving your financial account information to a third party? How secure is the data? And what guarantees do they have if there is a breech in security? My guess is that they will not be liable. And I'm sure your bank will not back you up since you willingly gave your account info to a third party. I am becoming more and more amazed at the amount of information people are willing to give away in the name of convenience.
  • Money Matters · 1 year ago
    I can understand being wary about giving out financial account information - and I would never do it with a website I didn't think was reputable - and that didn't have some solid history behind it.

    I'm not too concerned about mint.com because they're using Secure Socket Layer 128 bit encryption, plus they are using a lot of other things to keep you safe.. You can read about the protections they're using here:

    http://www.mint.com/safe.html
  • Jon · 1 year ago
    I understand that they are using SSL and other layers of protection. I also understand that they may be a fairly reputable company. My concern is not the transmission of data, but the storage of it. Granted they are using a well known company for account information storage. My biggest beef is with the TOS. After reading the TOS they seem to have left plenty of loopholes for permanent storage of data even after you cancel your account. Data mining and aggregation of your data for "market research" and to offer third party products, very limited liability in the event of a security breach, and fuzzy information about what will happen when they get bought (after browsing around, it seems like that may be the end goal to their business plan anyway). 128 bit SSL is fairly secure. They may not store your account information, but they have access to all your financial transactions whenever they want them.
  • Lynnae @ Being Frugal.net · 1 year ago
    That's a great overview of Mint! I like it too, though it doesn't do quite everything I want it to do yet. I'm hopeful that it will keep improving though.
  • Megan · 1 year ago
    Thanks for the link!
  • Money Matters · 1 year ago
    thanks for the follow up and checking out the blog!