Financial Services Industry
Industry: Email Alert RSS FeedFrustration, Confusion As Intuit Raises Fee
Credit Union Journal, The, May, 2003 by Kevin Jepson, Technology Correspondent
Credit unions are responding with frustration and confusion over Intuit Inc.'s pricing implementation for Web Connect, an online banking feature that allows members to download transaction data directly into their Quicken and QuickBooks money management software.
"I'm very disappointed with the new policy and feel the pricing structure is not equitable, unfairly taxing smaller financial institutions," said Sandy Beaubouef, director of Information Systems at the $89-million RiverLand CU in New Orleans.
Web Connect was introduced in 2001, and financial institutions used the service for free for about a year.RiverLand CU recently discontinued the service after getting a $3,000 bill for one year of Web Connect from its data processing vendor, Beaubouef said.
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