No more Mint

If you remember, I wasn’t a big fan of Mint.com in the first place because there was trouble getting all my accounts to show up on the website. A few weeks after that post, everything was sorted out and the website started working the way it was supposed to. I LOVED the app on my iPhone and the summaries of my spending emailed to me or appearing as alerts in the app were super useful since I haven’t been tracking it lately (sorry guys, April is definitely another month lost in the abyss. I have only a vague recollection of where my money is going).

However, this week I read this article in MoneySense and realized absent accounts might not be the biggest concern when using Mint.com. I didn’t need much convincing, and deleted my accounts from the website right away. Since I’m spending May in France, the last thing I need is my credit card being stolen abroad and then being responsible for the bill. I’m particularly wary because credit card fraud is exactly what happened on my vacation last year.

I went to Montreal last May, and about two months after I got home, $300 was withdrawn from my chequing account. I received a call immediately from my bank notifying me of potentially suspicious behavior on my account — the money was withdrawn from a Montreal ATM machine only 2hrs after I bought Starbucks in Edmonton with the same card, so yeah, that was definitely weird! TD handled things perfectly, and I had my $300 back within a few days. I really appreciated how painless they made a scary experience!

That said, having had money stolen from my bank account in the past means I have no naivetee to spare thinking it won’t be stolen in the future (though a lot of hope that it doesn’t!). The MoneySense article says that the way Mint.com accesses your bank accounts breeches the contract you’ve made with your bank and thus voids your protection against fraud. This makes sense, because if you’re not keeping your passwords confidential then no surprise the bank doesn’t want to back you up if your money gets stolen.

So now I am Mint-free, but that’s ok. Now that I’m using ING’s Thrive chequing account, they’re filling in for alerts when I have low account balances or new deposits. My own money tracking (when I intend to get back to it, that is) will provide me with graphs & charts in simple office software.