Quicken last month moved to a software-by-subscription model for Canadian customers, and may do the same for those in the U. S. who rely on the personal finance program.
Unlike a pilot program that launched in April 2016 , the Quicken subscription is not a pure cloud-based service, but relies on software installed locally on a Windows personal computer.
The two subscriptions available to Canadian users cost $40 a year (Quicken Cash Manager) and $90 annually (Quicken Home & Business). The core software must be installed on a Windows device, and will, Quicken said, be updated “to make sure you’re always on the newest version. “
More importantly, however, is that the subscription offers one year of what Quicken dubbed “Connected Service,” the back end that supports transaction downloads from banks, credit card companies and other financial organizations.
Like most vendors offering software subscriptions, Quicken will automatically ding the customer’s on-file credit card for renewals.
But if customers do not renew their subscription, they will lose more than just access to downloads from their bank. “While you can continue to access your data and run reports, you’ll no longer be able to download transactions, or add manual transactions [ emphasis added ],” a FAQ said in reply to a question about what happens when access to Connected Service ends.
