So you're saying that a reason that a version of this direct download functionality DOES exist with my PC copy of Microsoft Money for my two banks is that Microsoft's program has a proprietary format they and these banks are able to use that is different from the OFX format Moneywell relies upon? (just want to make sure I'm clear). I take it, then, that there's no incentive for Ing Direct and TD Bank to offer OFX in the future if things already work for the majority of users the other method? :-( - Robert
On Dec 11, 2:29 pm, Kevin Hoctor <[email protected]> wrote: > On Dec 11, 2008, at 12:55 PM, Robert wrote: > > > The other bank (TD Bank) was until recently called Commerce Bank just > > FYI...RE: lack of direct connect - in Microsoft Money on my PC, I AM > > able with these 2 banks to press 1 button to automatically download > > all transactions and have them automatically added to the program - > > isn't this, by definition, "Direct Connect" or am I misunderstanding > > what you mean by this? And if this sort of thing IS possible with > > Microsoft Money, why isn't it possible with Moneywell? (just curious > > and apologies for my ignorance! :-) > > Robert, > > There is a technology called Open Financial Exchange 2.1.1 (OFX) that > defines a way to talk to OFX servers and financial institutions either > have this server or they don't. A large percentage of financial > institutions don't have this functionality but most large U.S. banks > and credit card companies do provide this ability. > > But when you're Microsoft (who actually helped design OFX with Intuit > and others), you have deep pockets to gather data another way. If you > have the resources, you can have teams of developers writing specific > code to scrap data from websites like ING Direct. Services like > Mint.com and Mvelopes.com use this technology also and either charge a > monthly fee or subsidize it another way. MoneyWell and other financial > apps from independent developers usually can't afford to pull this off. > > I'm always looking for ways to gather data more easily to put into > MoneyWell but I'm also cautious about costs for our customers. > > Peace, > > Kevin Hoctor > [email protected] > No Thirst Software LLChttp://nothirst.comhttp://kevinhoctor.blogspot.com --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "No Thirst Software User Forum" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/no-thirst-software?hl=en -~----------~----~----~----~------~----~------~--~---
