Online Statement Aggregator (Manilla, Fetch, etc.)

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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Saving$
Posts: 1595
Joined: Sat Nov 05, 2011 8:33 pm

Online Statement Aggregator (Manilla, Fetch, etc.)

Post by Saving$ » Tue Feb 04, 2014 10:13 pm

Updated 1/31/15:
Updated 2/13/18:

A recent thread about online statements disappearing when an account is closed generated discussion of online statement aggregators. Instead of continuing the discussion there, I decided to start a new thread dedicated to this topic. Perhaps we can develop a matrix to compare the features of each service. The most beneficial feature of these services is the ability to log on to one site and instantly download multiple vendor statements.

General comments:
1. Asset Statements: There is considerable discussion on whether it is a good idea to give these sites username and pw for financial information. Bogleheads generally try to simplify by aggregating all investments in one place, and maybe also a bank account. So excluding financial statements with asset information from the service is likely to be a minor issues for many Bogleheads.

2. Invoices: Aggregating services can help Bogleheads simplify tremendously. If you own a second home or rental property, you may receive several invoices for water (multiplied if you have irrigation meters), power, telephone (if you have a landline), security service, natural gas, internet, cable, cell phone, etc. The aggregating services can allow you to log on to only one account per month and fetch all your invoices.

Services:

Manilla

As of May 2014, Manilla shut down
http://www.manilla.com
Cost: Free
Participating Vendors: Vendor must agree to participate. Includes utilities, travel (for frequent flier stmts), subscriptions, etc.
Storage: on Manilla servers
Tracking: Allows you to track spending, payments, etc.
Summary: Summarizes accounts
Other: Allows you to collaborate with others by commenting on invoices, etc.
Bill Pay: Through vendors website
Mobile App: Yes
Link to online accounting: Links to Xero, and online accounting app
Other: ?


Fetch
https://filethis.com/fetch/
Cost: Free to $50/year depending on how many statements you download
Participating Vendors: Vendor must agree to participate. Unclear which vendors participate
Storage: You define the storage location - your Box, Dropbox, Google drive account or your hard drive
Tracking: ?
Summary: ?
Other: ?
Bill Pay: No
Mobile App: ?
Link to online accounting: ?
Other: ?

Finovera
http://www.finovera.com
Cost: Free
Participating Vendors: Vendor must agree to participate. Includes utilities,travel (for frequent flier stmts), subscriptions, etc.
1/31/15 Update: Account categories are utilities, credit cards, banks, investments, loans and insurance
Storage: on Finovera servers
1/31/15 Update: Downloads the native pdf from the vendor to the Finovera server. You can download to your hard drive or online storage, but you need to change the filename. It defaults to "document.pdf" for everything.
2/13/18 Update: Finovera automatically assigns unique and sensible filenames to each file as you download
Tracking: Allows you to track spending, payments, etc.
2/13/18 Update: They now have budget categories, etc. Can't comment on this as I don't use it. They also download credit card transactions. I do use this, and only need to log onto one site to see all transactions on different cc's.
Summary: Summarizes accounts
Other: ?
Bill Pay: Seems to have that option
2/13/18 Update: They have implemented the ability to pay by credit card from within the Finovera app. Very convenient.
Mobile App: Iphone and Android
Link to online accounting: ?
Other: ?
1/31/15 Update: According to this blogger, http://artofbeingcheap.com/review-finov ... e-manilla/, they have a good privacy policy.
1/31/15 Update: Initial experience is they connect to national cell provider, national mortgage provider, local phone company, and regional utility company. They don't connect to two local utilities. HOWEVER, initially the service was only able to successfully connect and download a statement from two accounts. It is having trouble with the two of the utility accounts. If it is able to resolve that, I will have converted four monthly logons into one.
2/13/18 Update: FV now connects to every entity from which I get invoices, including small local utility. Very convenient. There is one invoice they have trouble parsing, but that is an outlier, and I have not brought it up to them. The service occasionally has problems - it is not flawless, but it is much better than logging onto multiple accounts, and their tech support is very responsive and friendly in the email communication.

Doxo
http://www.doxo.com
Cost: Free
Participating Vendors: Vendor must agree to participate. Includes utilities, travel (for frequent flier stmts), subscriptions, etc. May also have ability to add accounts
Storage: on Doxo servers AND on online storage (Box, Google Drive, etc.)
Tracking: No
Summary: No
Other: ?
Bill Pay: No
Mobile App: Yes
Link to online accounting: No
Other: ?
1/31/15 Update: The only way to get your statements automatically downloaded is if the provider is "in the Doxo network." HOWEVER their site is misleading. Before you join you can search providers, and every provider I entered showed up as one that could be added to a Doxo account. However, adding a provider to a doxo account may only give you the ability to upload your own documents and store them on Doxo. It does NOT mean Doxo will download your statements. It was only after signing up that I learned the national mortgage provider, cell provider, local utilities and all my frequent flier accounts (with major airlines such as Delta) are all still "not in the Doxo network." For the one utility provider who is in the Doxo network, they require you to agree to paperless billing before Doxo will link. So far that does not seem to be the case for Finovera. Since auto statement download is my main goal, and I see no improvement on this since last year, I once again cancelled my Doxo account.

1/31/15 Update: Added the following:
Mint Bills (formerly check): https://check.me/about/
Zumbox
PrismMoney (formelry Mobilingly)
Looking forward to hearing from Bogleheads who have used one or more of the above services and their experiences, revisions or corrections to the above, and issues I've not considered.
Last edited by Saving$ on Tue Feb 13, 2018 9:05 pm, edited 7 times in total.

Saving$
Posts: 1595
Joined: Sat Nov 05, 2011 8:33 pm

Re: Online Statement Aggregator (Manilla, Fetch, etc.)

Post by Saving$ » Sun Mar 02, 2014 9:18 pm

Update on Doxo:
It will automatically download statement IF your vendor is signed up with Doxo. Although they claim 30k+ vendors, those vendors are NOT signed up with Doxo. Neither my cell phone company (one of the big four) or my statewide electric provider are signed up with Doxo. In this case you keep your username and password on Doxo but need to manually download the statements. Also, I cannot confirm, but it appears you can only download one statement per provider. I cancelled my Doxo account as there was only one vendor account that would automatically download.

Saving$
Posts: 1595
Joined: Sat Nov 05, 2011 8:33 pm

Re: Online Statement Aggregator (Manilla, Fetch, etc.)

Post by Saving$ » Sat Jan 31, 2015 2:18 am

I've updated the above post to reflect Manilla is no longer available, as well as recent experience with Doxo (unchanged since last time) and Finovera. I've also added a few similar services.

Saving$
Posts: 1595
Joined: Sat Nov 05, 2011 8:33 pm

Re: Online Statement Aggregator (Manilla, Fetch, etc.)

Post by Saving$ » Sun Mar 22, 2015 3:49 pm

After almost two months of using Finovera to automatically download my billing statements, I can say I am fairly pleased with the service. The site is easy to navigate, and their customer service is decent - they actually follow up on emails. One of my statements did not download, and although it took them a few weeks, they fixed the issue and sent an email to follow up.

I have Finovera downloading utility bills, credit card statements, and mortgage statements. I DO NOT have it downloading asset statements such as bank accounts or 401k, because that seems like too much risk. I learned if you have multiple accounts at one institution, signing up for Finovera to download one account statement (such as mortgage ) causes it to automatically download all the other statements (such as credit card and/or bank accounts) from that institution. Fortunately the one bank account it downloaded in this manner only has $10 in it; that account was established to have a relationship with that institution so I could get a credit card from them.

I'm certain using Finovera is saving me time each month, because:
a. One username and logon to view all pdf statements, already downloaded from the provider. Although I have as much as possible on autopay, I still like to review the credit card statements to make sure there are no unauthorized charges, and I like to glance over the utility bills to make sure I'm not being charged incorrectly, and the mortgage since they mess up the escrow at least every other year. I used to log on to multiple sites monthly to view my statements, and while I was there I would usually download them. Some accounts also still send paper statements.

b. Finovera keeps statements, as far as I can tell, forever. Some of my providers only offer the last one to three months of statements online, so I had to make sure I did not miss the download window. With Finovera downloading the pdf, I don't need to worry about saving to my hard drive monthly. I plan to download from Finovera to my hard drive about twice a year, which is much more efficient.

Finovera is missing two local utilities. I would love if they had all my providers or at least offered some sort of "learning macro" to allow a user to teach it to download statements from providers to which the service is not yet linked. There is apparently some sort of add on I can install to my browser to cause Finovera to automatically log onto the websites of those providers, but I'm not ready to start installing extra software.

One thing I appreciate is that I was not forced to commit to stopping paper statements in order to have Finovera download the pdfs (one of the other services I briefly tested required this). Many providers will not allow you to switch back to paper once you sign up for pdf, so I would not have added those providers. Instead, now that I know Finovera works, I am developing a process for how I view, and "file" the pdfs using the Finovera website interface, and I'm much more comfortable with the idea of stopping paper statements they are downloading, and will probably do so soon.

Saving$
Posts: 1595
Joined: Sat Nov 05, 2011 8:33 pm

Re: Online Statement Aggregator (Manilla, Fetch, etc.)

Post by Saving$ » Tue Feb 13, 2018 8:55 pm

Four years after initially researching this, and three years after starting with Finovera, I'm still using it and still very happy with the service. I updated some of the comments above.

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