For those of you who don’t know, Quicken has just released their online service Quicken Online (Quicken Online Edition – Try it out for free). This new service is available for just $2.99 a month! If you’re as excited about this as I am and want to get all the details, read my interview with Jodi Reinman, Quicken’s PR Manager…

Cody: How much does it cost to use Quicken Online?

Jodi: $2.99 per month.

Cody: What advantages does it offer over the current software?

Jodi:

• It’s ideal for people who prefer a web-based service over desktop software.

• It’s fast and easier for most since it’s focused on solving the core jobs of personal finance - show me where my money is going, tell me when my bills are due, and how much money do I really have.

• It leverages user-contributed data. For example, when it comes to categorizing spending, QOL will automatically categorize your spending based on the work that others have done. For example, if someone categorizes a local boutique (let’s just say it’s called “Her Store” as “Clothing” it will automatically get categorized that way when you spend money there. Of course you can edit the category if you like.

• It’s always accessible - anywhere and anytime — even by phone. Quicken Online is optimized for the iPhone, so wherever your phone works, you can use Quicken Online.

• It’s faster and easier to add new functionality since it’s on the Web.

Cody: What versions of Quicken software does it purpose to replace?

Jodi: We have more than 14 million Quicken Personal Finance Software customers. For many, Quicken Online is not a replacement because they enjoy the rich functionality of the desktop software - and having all their data on their computer. So it wasn’t really designed to replace the software, but to address the needs of those who were looking for an online solution. These folks tend to be younger and first-time users of a personal finance solution, e.g., young folks who have grown up on the Web and college students. But that’s not to say that some desktop users of Quicken - particularly Quicken Starter Edition may not also be attracted to Quicken Online.

Cody: Would you recommend it to a personal finance novice?

Jodi: YES!!!

Cody: Can I pay my bills with it?

Jodi: Currently, QOL can send you reminders for when your bills are due - even send you a text message if you choose. We are working on adding the bill pay functionality later.

Cody: Can I access it from any computer?

Jodi: Yes, wherever there is a Web connection.

Cody: Will my private information be secure with it?

Jodi: Our software products, including Quicken, protect transactions with multiple layers of security so customers can bank online with confidence. Quicken online financial features take advantage of industry standard encryption and authentication technologies. We’ve even added an extra layer of security by adding an additional question during the sign-in process.

Cody: If I am currently using Quicken software, can I export my existing data?

Jodi: At this time, that is not possible. Quicken Online does not integrate with Quicken desktop software.

Cody: What kind of customer support do I receive with it?

Jodi: There is a Quicken Community support button within the offering that allows you to ask other users and Quicken staff for answers to your questions. This is available around the clock.

Cody: What happens if I sign up and decide I don’t like it?

Jodi: We would recommend using the 30-day free trial offer first to see if you like it. And once you sign up, if you don’t like it, you can stop subscribing.

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