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Computerized Investing > June 25, 2011

XeCheck

PRINT | | | | COMMENTS (7) | A A   Reset

by CI Staff

XeCheck is a powerful personal financial management software that is able to download bank transactions from over 6,000 U.S. and international banks, credit unions and credit cards. It will take some time to familiarize yourself with the wealth of features offered by this program, but getting started is very simple.

After opening the program, XeCheck will ask you to provide your name and email address, both of which are required. You are also able to password protect your file, which is highly recommended. The next step is to set up your main account, which for most investors is their banking or main investment account. A list of financial institutions is provided, and you are able to select your bank from the list. For certain major banks, such as Chase, and major brokerages, such as Charles Schwab, you can enter your login information for the bank or brokerage, and the program will automatically download your financial information.

Once your accounts are entered, the main page of the program allows you to manage all your bills, deposits and budgets. This section shows you the bills that have already been paid and the ones that are coming due. The program comes with a Bill Payment Wizard that helps you schedule payments and set up reminders. A Budget Wizard is also available to assist in putting together a savings plan. Answering a few simple questions will generate a preliminary budget that you can modify as appropriate. The graphs area provides an idea of how your money is being spent between various spending categories.

XeCheck also has Deluxe and Premier editions. The Deluxe edition allows users to export tax-related transactions. According to the XeCheck website, the exported files can be imported into most tax preparation software such as TurboTax and TaxCut. Furthermore, the Premier Edition also allows you to manage your investments and track real estate investments.

If you are uncomfortable providing XeCheck with your account information, you can simply enter your transactions by hand. Updating accounts manually is very straightforward, but it does require more time than allowing the program to download transactions automatically.

Overall, XeCheck is worth taking a look at, especially since it offers a 60-day free trial. It is one of the more powerful personal financial management software available and should be sufficient for most individual investors.

XeCheck 8.0

System Requirements: 512MB RAM (Windows XP) or 1GB RAM (Windows Vista), 100MB free-disk space, Windows XP or Vista operating system

Price: $19.95 for Standard, $24.95 for Deluxe, $31.95 for Premier, free 60-day trial


Discussion

Ron from KS posted over 3 years ago:

I am concerned that you would recommend a software product that hasn't been updated in 2 years, has a web site last copyrighted in 2009, and doesn't have any support for Windows 7. Am I missing something here?????


Tom from PA posted over 3 years ago:

I couldn't find any information on the publisher (Versure) of Xecheck. Why should anyone trust an application or entity that can not be readily verified or located? I'd appreciate if someone could enlighten me as to who is behind this software. Am I overly cautious?


William from WA posted over 3 years ago:

How does this compare with Quicken? Clearly less expensive but what about features comparison?


Chuck from WI posted over 3 years ago:

The first three posts are very good questions.

I am looking for a NON-web based replacement for "Money", sense the demise of Microsoft Money. Quicken could work but this one (XeCheck) sounds good, except for the before mentioned problems.

Why does this "featured download" lack the rest of the information necessary for a true eval.


Harold from PA posted over 3 years ago:

why not recommend mint.com which is free and provides the same services. It was just purchased by Intuit and at this time is still free and supported by Intuit (Quicken supplier).


Joe from IL posted over 3 years ago:

We featured this product because it is still a good program and we believe many individuals will find it useful. We've tested in on Windows 7 and can confirm that it works. While we are also concerned with the lack of an update, we believe that it's worth taking a look at, especially since there is a 60-day trial period.

Mint.com has been previously recommended. We do believe that Mint.com is an extremely useful website but there are people who are worried about its safety. Using Mint.com means you have to give the site information such as bank login and password and we have members uncomfortable with that. Therefore, this is an alternative because it allows you to manually input data.

Although these featured products are tested by us here at AAII, we would still encourage all of our members to decide for themselves whether each of these products are suitable for them. Everyone has different circumstances it's difficult to find a single product to meet everyone's needs.


Barbara from FL posted over 3 years ago:

I am still looking for financial management to take the place of Quicken 7 which will not be usable with the new Mac OS Lion. I am a Mac user and don't want to buy Windows for Mac if I can find something better.
My brokerage will not allow me to download to Mint so I am desparate for a replacement for Quicken. I tried Quicken Essentials but it will not allow me to enter any new stock transactions as my old program allowed. Can you help me find a Mac program?


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