There’s the possibility that Mint could be held liable for your information being stolen but since there haven’t been any breaches reported to date, there’s no way to know how the situation would pan out. Privacy Policy | Ad Disclosure, How to Switch Phone Carriers (Without Making a Mistake), How to Freeze Your Credit with Equifax, Experian and TransUnion, Best Credit Cards for Saving and Investing Rewards, The 4 Credit Cards in Clark Howard’s Wallet, How to Choose a Credit Card for College Students, Best and Worst Homeowners Insurance Companies, Travel Medical Insurance: What You Need to Know, Long Term Care Insurance: What You Need to Know, 6 Things to Know Before You Start a 401(k), Things to Know Before You Cancel Your Streaming TV Subscription, How to Find the Best Deal on Cheap Internet Service, Free Advice: Clark’s Consumer Action Center, Ask Clark: Submit a Question for the Show, Insert details about how the information is going to be processed. For someone who wants to stay plugged into their finances and goals with little daily effort, this tool is a great find. Check out these new top banks that people are talking about: Rebecca is a writer for MyBankTracker.com. Clark says there’s no such thing as a hack-proof website, but he’s still a fan of Mint.com: I’m asked repeatedly about Mint, how safe is it? To protect your account, Mint suggests that you create strong passwords, never share your passwords, use virus protection and a firewall on your computer, and don’t install programs from unknown sources. For instance, you can see what your 401(k) or IRA is worth and even backtrack to gauge their performance over time. If your account terms and conditions prevent you from sharing your username or password with a third-party site, you may end up being held responsible if someone is successful in compromising your Mint account. And don’t worry. But, honestly, the more accounts you link it to, the better. It cannot access any login and password details, and is safe to use. Mint, which comes from the makers of TurboTax and QuickBooks, also uses multi-factor authentication. Password: Linux - Security This forum is for all security related questions. are all included here. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. You can submit a question online at Clark.com/Ask. One of the nice things about Mint is that it’s an all-in-one financial tool, which means you can use it to monitor your spending, keep an eye on your credit card balances and see how your different investment accounts are doing. To get started, download the app from the App Store or from Google Play. It’s surely safer if you do not give your bank account information to anybody, or even better, not to open any bank account. As you ask, you probably are in the US or Canada. This is the part that gives many pause and we’ll get into more details about it below. Personal finance apps like Mint need your login user name and passwords to organize and manage your accounts. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Rocket Mortgage is now integrated into the app. To further strengthen your passwords, you can try setting passwords that are long and contain a mixture of numbers and characters. How it works is you sign up for a free account and then link your bank and credit card accounts by entering your login credentials when prompted to do so. For added security, Mint recently rolled out the Touch ID sensor for iOS that reads your fingerprint and automatically unlocks your phone, allowing you quick access to the Mint.com app. Fortunately, there’s an easy work around to view your transactions by date: If you go to the Transactions page, the URL that displays should be: https://wwws.mint.com/transaction.event. Is your information at risk of falling into the wrong hands? Mobile app: The bulk of Mint’s users are on mobile, and the service’s mobile apps (the overall app and Mint Bills for payments) are suitably strong. Using a tag for verification purposes makes record keeping easier but it’s also a good idea if you’re concerned about one of your accounts getting hacked. It doesn’t seem to be a native app developed for phones, rather a web app in a app wrapper. Mint will never sell it to someone. The Times story concluded that Mint is safe—for the most part. One of the most irksome is the ability to automatically sort your transactions by date. This makes it easy to track your spending no matter what type of budgeter you are. We also have routine security audits where so-called “white knight hackers” try to break into our system — they’ve never been successful. Mint tends to make recommendations that give them a large commission as opposed to ones that are best for your specific situation. Tweak the dates to track ATM withdrawals and cash. Any time a new transaction shows up, you just assign the appropriate tag. Mint is a great tool to use if you’re looking at ways to improve your financial management. Get free money tips delivered to your inbox daily! Here’s 4 basic tips and tricks to get the most out of Mint: Mint is designed to automatically record transactions made with your debit or credit card; anything else has to be entered manually. If you do a tag search and a charge shows up that you don’t recognize, it could tip you off to possible identity theft before the crooks have had a chance to funnel any more money out of your account. https://clark.com/wp-content/uploads/2017/12/clark-budgeting.mp3, The free budgeting tool you probably haven’t tried, Budgeting with cash: How to make the envelope method work, How I saved an extra $1,000 with this simple receipt trick, 12 of the Best Places to Watch Free Movies Online, 4 Things to Know Before You Sign Up for YouTube TV, How to Save $5,000 With the 52-Week Money Challenge, Best Live TV Streaming Services Right Now: Compare Our Top Picks. What Details Could Hackers Actually Get their Hands On? If you end up moving your investments to another brokerage or cashing out one of your accounts, you might be tempted to close it or delete it from Mint altogether, but you shouldn’t be so hasty. And you’ll want to make sure you’re not using the same password for more than one account. Money expert Clark Howard frequently gets calls on his radio show from people who want to know if Mint and other budgeting tools are safe to use. After you’ve linked your accounts, you can use Mint to track your budget, creating savings goals, and get alerts on your spending. Mint comes with a number of security features that it touts as being on par with what your bank already offers. Whether or not you’re using a personal finance app like Mint, you should always be changing your bank and credit card passwords on a regular basis. Their … As mentioned earlier, it has a 4.7-star rating (out of 5) in the App Store. That way, you don’t have to worry about your regular email getting hit with phishing scams if someone succeeds in getting a peek at Mint’s information. On the other hand, you are taking a gamble by sharing your financial information, so you have to ask yourself whether you’re willing to accept the potential risk in exchange for the convenience that Mint offers. And, keeping you on the ball all the time, you can sign up for account alerts to find out if you’re nearing budget limits or getting low on your account balances. If your mobile device is ever lost or stolen, you can delete all your account information remotely. The main concern with this is that Finally, Mint offers a chance to plug in spending before you do it so you can see how it will work with your overall financial plan. Mint has a website and a phone app, which means you can manage your money at home or on the go. If you need an easy-to-use tool for tracking your spending and keeping tabs on your budget, Mint.com is an excellent choice (among many other finance app alternatives). Acquired by Intuit in 2009, this app has continued to improve over time, but it faces some pretty high end and more modern competition today. For example, you can view a breakdown of your spending trends for the current month but cannot change the time frame to view a previous month. Is Mint.com Safe? All you do is create a tag to identify those expenditures that have been verified, like “Accepted,” “Noted,” “Seen,” whatever is easiest to remember. Mint is safe to use, however I recommend throughly evaluating any of the outside offers they recommend you. Additionally, all of your personal information is kept safe. If you want to be able to track your cash spending without having it wreak havoc on your budget set up, there’s a pretty simple solution. User Name: Remember Me? Questions, tips, system compromises, firewalls, etc. Apps like Mint ask you to plug in your banking information so the program can keep track of your expenses and overall balance to make a budgeting plan. If you use it to manage your finances, you may be wondering: Is the Mint app safe and secure? This can be done either through your email or phone. Mint is the free money manager and financial tracker app from the makers of TurboTax® that does it all. Do you need Clark’s help with a money-related issue? Mint is a free personal finance service that's in a class by itself. Millions of Americans use free personal finance apps like Mint.com to track their spending, but many people still have reservations about whether it’s safe to link bank accounts with online budgeting tools. So using my old CBA account I signed up and linked the account so I could try out the app. She has contributed to numerous online outlets, including U.S. News & World Report, and more. With online synchronization, visual graphics of your accounts, and a mobile app, it offers features similar to YNAB. Finally, you should avoid using Mint over Wi-Fi services and you should also be mindful about allowing third-party access to your account through Facebook or other apps. Yes. The company behind the app Money states that it uses multi-level security mechanisms, including firewalls and VPN to protect the data it collects. But what I know is that the power of these tools to help you get your spending under control is so great that I think that power outweighs the risk of the potential vulnerabilities of any financial tool or any site or any app. She is an expert in consumer banking products, saving and money psychology. Take charge of your finances with Mint’s online budget planner. The sooner you know about things like this, the faster you can take care of them and get your accounts back in good standing. Once you’ve synced up your accounts using your bank’s login information, you can create a unique PIN to sign into your Mint account. This site may be compensated through the bank advertiser Affiliate Program. Taking everything we’ve outlined into account, Mint is a top choice for a safe, easy-to-use personal finance tool. The catch is that you have to provide the username and password you use for each one, which can certainly make you feel jittery if you’re worried about a security breach. Of course, Mint’s founder was emphatic about the site’s safety. Jul 2, 2019 - Is Mint a safe budgeting app that can help you save money? It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. We bring together your bank accounts, credit cards, bills and investments so you know where you stand financially. And, because Mint is “read-only,” a hacker couldn’t … RELATED: YNAB review: Is this budgeting app better than Mint? While it has an advantage in being completely free, does it still stack up against its main competitors? Is the Mint App Safe? The longer Mint is around, the more accounts and types of ac… You could also read Mint’s terms and services to get the details they provide. If you make regular ATM withdrawals or you rely on cash for everyday spending, it can make keeping tabs on what’s going out a little confusing. User Generated Content Disclosure: These responses are not provided or commissioned by the bank advertiser. When you set up your Mint.com account, it will ask you if you want to link to your bank accounts. Basically, that means that instead of the bank covering whatever money the hackers made off with, you’d just be out the cash altogether. Instead of visiting multiple sites to check your bank account or credit card balances, you can view everything at once using this free app. the mobile app We safeguard Mint with your own 4-digit code so only you can view your account. First released in 2012, Mint QuickView is a companion app available only for Apple's OS X operating system. Editorial Disclosure: This content is not provided or commissioned by the bank advertiser. YNAB review: Is this budgeting app better than Mint? With Mint, you can: SEE EVERYTHING IN ONE PLACE Mint is a budgeting app, bill tracker, and financial planner all in one. For one thing, you can set up a separate email address to sign up for Mint. Yes. Tagging transactions in Mint takes the guesswork out of things like keeping track of your goal progress or grouping expenses for tax purposes. No web-based rival provides as comprehensive a collection of tools for tracking your spending, budgeting, and goals. While Mint offers lots of features and tools to help you manage your money better, there are a few capabilities it lacks. You can also enable Touch ID if you choose. This linking enables Mint to update your transactions automatically. And if you’re a cash budgeter? You could opt out of tracking the cash altogether by hiding ATM transactions from your budgets but that kind of defeats the purpose of Mint. Always update your bank/credit card passwords, Don’t use Mint over unknown Wi-Fi services. That can be a real pain if you’re trying to pinpoint a specific purchase or you want to be able to view all of your spending for a particular category over a set period of time. Mint has a two-factor authentication process so it makes it hard for people other than you to access your data. Millions of Americans use free personal finance apps like Mint.com to track their spending, but many people still have reservations about whether it’s safe to link bank accounts with online budgeting tools. Walnut only reads business and transaction messages. If you ever need to verify a transaction down the road, you won’t be able to access that history. “Mint makes it so I don’t have to go to the individual bank sites,” said Ranta. Understandably, the Equifax data breach … To get information for a specific date range, all you have to do is alter the URL a little by adding a start date and end date. All in all, Mint is like a financial coach in your pocket. Over the 4+ years we have used Mint, they’ve broken from time to time as banks have updated their websites, but generally speaking the integrations are good. You’d go to the original withdrawal, click the “Split This Transaction” button and categorize the money you spent under “Groceries.”. If something happens and your phone is lost or stolen, you can delete your account from another computer or mobile device remotely. In the interview above, Mint’s former VP of Engineering talks about how Mint knows that security is one of the major stumbling blocks for consumers, and how they have tried to overcome that with the highest levels of protection. When you consider the kind of information a hacker would be able to see if they were able to access your account, it’s much less than what they’d get if they managed to hack your bank or credit card’s website directly. That’s possible. First, Mint has bank-level data security. If that were to happen, then your personal information might be at risk, but so far, there’s no record of it being attempted. This allows you to record your cash spending without having to worry about it showing up twice in your budget. Advertiser Disclosure: Many of the savings offers appearing on this site are from advertisers from which this website receives compensation for being listed here. You can apply, lock-in and find the best mortgage rates through Mint. Additionally, the information you use to sign in to Mint is stored in a separate database with its own hardware and software encryption. How exactly does Mint work? If a hacker was interested in taking things a step further, there’s always the possibility that they could physically steal the information from Mint’s secure servers – but that’s really a long shot. Once you change the URL, you just hit enter to refresh the page and display the transactions for the dates you’ve selected. Mint was created with your financial prosperity in mind. Mint is verified by VeriSign and uses multi-factor authentication to keep your data safe. Before using your account on any device, you must validate it or else you will not be allowed to access your information. It may not be an easy document to decipher, but it’s publicly available on their website and should contain everything you need to know about having an account with Mint. However, think these facts: 1. As you spend your cash, you can split up the transactions to reallocate the money to your various budget categories. To take the position that Mint.com is safe because the technology behind it as secure as other online banking would be short-sighted, as it doesn’t consider additional factors. The primary concern for anyone using Mint or a similar service like Yodlee or Wasabe is security. If you think you might have overlooked something, you can do a quick search for the tag name, which should highlight those transactions that haven’t been tagged yet. The app uses several advanced security features, including multi-factor authentication and TouchID for account access. Now, to understand the tips and tricks on how to use. Because Mint is free, the company makes its money by recommending financial products and through ads. Quick answer: Mint uses bank-level encryption and monitoring through various 3rd parties companies for read-only access to your financial accounts. You can even participate in billpay to manage your monthly bills on Mint as well. It’s missing a lot of functionality that the full-fledged website has. If someone were to get their hands on your Mint login, all they’d be able to do is view your balances and transactions. Mint can still help you. The Mint mobile app is a good but not great. With so many security breaches making the news, banks are stepping up their efforts to make debit and credit cards more secure but it remains to seen if it’ll be enough to stop hackers in their tracks. Your full account numbers aren’t displayed, nor are your bank account or credit card usernames and passwords; the only thing that would be visible would be your email address. Specifically, it relies on things like 128-bit SSL encryption and monitoring through third-party sites like TRUSTe and VeriSign. As mentioned earlier, the Mint app is secure. The reason people like Mint is because it allows you to see all of your financial details in one place. While it would be nice to just be able to click a single button to see your spending by date, this is a fairly uncomplicated fix that works just as well. Mint app security uses multi-factor authentication and strong encryption to keep your information safe and secure. That would require knowing where the servers are located, bypassing the physical security measures that are in place, and cracking the code on how the data is encrypted. Is Mint safe to use? Yes. You can do this by going to your Accounts at the top of the page, clicking on the one you want to deactivate and then changing the drop box option to “Closed.”. These offers do not represent all deposit accounts available. Mint App Manager--Is It Safe? Aaron Patzer, from Mint.com, said the site protects user names and passwords with the same level of security as a financial institution. Is the Mint App Safe? First, you assign any ATM withdrawals to the “Cash & ATM” category — that way, they won’t show up in your budget. Then, you just alter the date of the ATM transaction to the last day of the month, so you’ll always know how much cash you’ve got on hand. The online app is complemented by the free Mint mobile apps for iPad, iPhone, Android, and Windows mobile devices. analyze all the data and make suggestions on how to better optimize and save you money Mint is safe to use. We live in an era where no matter what encryption level people are using, whatever security, there are vulnerabilities in the system. “Login user name and passwords are stored securely in a separate database using multi-layered hardware and software encryption,” Mint said on its security FAQ page. When you create an account, you’re able to link all of your bank accounts, credit cards, and investment accounts. Taking everything we’ve outlined into account, Mint is a top choice for a safe, easy-to-use personal finance tool. To help put your fears to rest, we got the inside scoop on the security and logistics of Mint.com. 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