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Updated: MoneyControl Drops Intuit For MyUniverse For Its Portfolio Manager

Update: It looks like Aditya Birla Group has partnered with Network18 to integrate its personal finance product MyUniverse to Moneycontrol.com’s portfolio section. The service is currently available on a 30 day trial to users, following which users will have to pay an annual fee of Rs 500 + taxes. The deal period or the financial details of the partnership is however yet undisclosed.

Aditya Birla Group had launched MyUniverse last month, allowing users to link their online bank accounts and browse through credit card bills, debit card expenses, loans, mutual funds, FDs, and other financial instruments to view their finances at a single destination. The service also allowed users to add bill reminders for utility and other payments, and offered a payment gateway with Billdesk to facilitate online bill payments. (our review here)

As an aside, MyUniverse claims on the registration page that it already has 1.5 lakh users who are managing Rs 4,362 Crores on the platform. It also claims to support more than 3,347 banks, 1,342 loan providers and 3,108 brokerages among others.

Moneycontrol MyUniverse

Earlier (Jan 28): It looks like Intuit is shutting down its personal finance management service ‘Intuit Money manager‘, being offered at Network18’s Moneycontrol.com, on February 28, 2013, according to a notice put up on the website’s login page. This was first reported by NextBigWhat. We’ve contacted Web18 for information on what they plan to do next, but from what we hear from sources, they’re planning to replace Intuit’s service with another one. 

In August 2009, Intuit and Web18 had signed a three-year partnership to launch Intuit Money Manager on Moneycontrol.com.

Allowing Users To Export Their Data Before Shutdown

The service is currently offering refunds to existing users on a prorated basis, within 90 days of the user submitting their bank account details to the service. Currently, the site is not accepting any new registrations and as per its FAQs, existing users can use the service till February 28, 2013. The site is also offering an export option to existing users till Feb 28, 2013, enabling them to export all their data including transactions and their categories, out of the Money Manager service. After this, the site mentioned that all the data will be permanently deleted from its website, so that means that whenever the new service is launched, it will start from scratch.

Intuit Money Manager Launch

In August 2009, Intuit and Web18 had signed a three-year partnership to launch Intuit Money Manager on Moneycontrol.com. The service was initially available for select Moneycontrol.com customers who had opted in for the trial program, before extending the service to all customers of Moneycontrol.com in January 2010.

Priced at Rs 365 per year, Intuit Money Manager allowed users to link their bank accounts, view their expenses, set and track monthly budgets and set alerts and reminders for transactions and due payments. As per the company website, Money Manager had tied up with more than 52 financial institutions which included banks like Axis Bank, Canara Bank, State Bank of India, HDFC Bank, and ICICI Bank among others, and other financial institutions like the Life Insurance Corporation of India (LIC) , HDFC Loan, Motilal Oswal Securities Ltd and Share Khan among others.

Other Players

Earlier in the month, the Aditya Birla Group had launched a personal finance website called MyUniverse, which enabled users to link their online bank accounts and browse through credit card bills, debit card expenses, loans, mutual funds, FDs, and other financial instruments. One could also manually add physical assets such as gold and jewellery, real estate and offline investments and savings to the list, set bill reminders for utility and other payments and pay them through Billdesk payment gateway.

Besides this, the site also featured a tax planning service and trading and investment service from Aditya Birla Money, the broking and distribution company of Aditya Birla Group. The service was priced at Rs 500 per year (excluding taxes), after a 30 day free trial.

Other personal finance sites include InvestmentYogiInvestoprestoUniconRupeeManager, Futurewise (in private beta) among others.

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