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.
