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Replacement for Moneydance?
Posted by: Robert M
Date: August 10, 2018 01:47PM
Hi everyone,

I've been a fan of Moneydance for managing personal finances for a while. I've had my issues with it over the years but none were truly insurmountable. The biggest problem was their tech support, or, dare I say, the attitude of the staff and the horrible way they handle problems. That and the fact that they take issue when someone disagrees with how they do things (i.e. product announcements) and/or changes to the application. As you can imagine, I'm vocal and have no qualms about speaking my mind.

A new issue popped up a couple of months ago. TD Bank performed a security upgrade and Moneydance can no longer download transactions directly. It is definitely not a TD Bank issue. Other apps can connect and download transactions. Initially, the tech support team at The Infinite Kind was on top of the problem. They've gone dark for nearly a month now and aren't responding to threads. The problem persists.

I'm likely able to download the transactions as a QIF file and import them but it's an inconvenient pain in the butt and should be unnecessary. I should be able to download the transactions directly. So, between this and past issues, it's time to look at an alternate solution.

I like TD Bank and have no plans at all to change banks. Since IK has gone dark on the issue, I'm inclined to give a different personal finance app or two test runs. One of them will be the current incarnation of Quicken. Quicken isn't owned by Intuit these days, so I'm no longer inclined to avoid it. That and it can download transactions directly from TD Bank. Still, I want to try at least one other app.

Recommendations will be much appreciated!


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Re: Replacement for Moneydance?
Posted by: Ombligo
Date: August 10, 2018 02:31PM
I've been using iBank5 with no issues for a couple years. Whether it will remedy your issues I do not know.

“No persons are more frequently wrong, than those who will not admit they are wrong.”
-- François de La Rochefoucauld

"WE CALL BS!" -- Emma Gonzalez
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Re: Replacement for Moneydance?
Posted by: Fritz
Date: August 10, 2018 09:38PM

oh for the good ol days when Quicken worked well.

I'm sticking with MD for now, but I don't dl to it. I balance to MD off statements by hand. Doesn't take long. Can't be bothered searching any more incomplete and/or mediocre software for monthly tasks.


all I need to know I learnt from Bugs Bunny on Saturday mornings.

Television is a medium because it is neither rare nor well done.
>>>Ernie Kovacs>>>
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Re: Replacement for Moneydance?
Posted by: Ken Sp.
Date: August 11, 2018 07:46AM
Would or the Mint app do what you need?
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Re: Replacement for Moneydance?
Posted by: bobinmurphy
Date: August 12, 2018 10:42AM
Seems to me that the protocol for downloading transactions has been standardized, something I believe Microsoft was heavily involved in when they started buying up financial programs a few years ago. If that's the case I don't really understand why companies like Quicken, IK and others continue to want to act like a man-in-the-middle in downloading bank transactions. If the transactions conform to the standard protocol, why do they continue to take the position that they need to "qualify" individual banks' transactions before they can be downloaded and used in their financial program?

I suspect it might have something to do with wanting to filter or keep your bank transactions on their servers so if you have multiple devices (computers, iPads, smart phones, etc) they can all be consistently updated. I'm pretty sure that's the case with Quicken, and it just doesn't give me a good feeling knowing that if I choose to use any company's download transactions feature it may leave some of my information on yet another computer someplace in the Cloud that can be the target of a hack.
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Re: Replacement for Moneydance?
Posted by: Robert M
Date: August 12, 2018 11:34AM

The protocol is pretty much standardized but not for the reason you described. The standard protocol was the one developed and used by the Quicken products. Everything else just uses it. My issue is that if the protocol is standardized (OFX) then any financial app should be able to download transactions. Unfortunately, that is not the case. Now, as security protocols are updated, the protocol gets updated and the rules that govern it change, too. Definitely complicates matters.

I actually called TD Bank and was flat out told I must activate a profile with Quicken and a special command within Quicken before they can reactivate downloading of transactions. And, they only support Quicken. Supposedly. An app that can mimic Quicken's download system and trick the bank into thinking it's Quicken should work. So, now I've got to get a copy of a recent version Quicken or buy the subscription 2018 version, use it to create the profile and then cancel it.

What a pain!

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