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Shelley's Financial Software Blog

By Shelley Elmblad, About.com Guide to Financial Software since 2005

PC World Untangles Mvelopes Mix-up

Thursday April 3, 2008
PC World Consumer Watch On Your Side reporter Amber Bouman featured a person she assisted with an Mvelopes problem recently. Carol St. James signed up for Mvelopes online financial software and set it up to pay her bills automatically. Soon after, her bank told her that her account had been hacked into and they needed to close it. Good to know the bank was watching out for her. Bad to find out that Carol racked up overdraft charges because she could not see which automatic payments were bouncing because the Mvelopes account was closed. Seems to me that the bank could have provided her with a final statement, but that's not Carol's primary concern.

Carol wanted her money back since an Mvelopes subscription set her back $189, but the account was cancelled. Mvelopes denied her request for a refund, and that's when Amber from PC World stepped in to help. In the end, it was discovered that Carol's account was never hacked into after all and Mvelopes was safe, but did she get a refund from Mvelopes? Read Online Personal Finance: Mvelopes Mix-up Untangled from the Computing Center to find out.

Although Mvelopes provides a free trial, it requires you to enter your credit card and then cancel the subscription before the trial ends or you get billed for a subscription. I think this is a crummy way to offer a free trial and I say so in my Mvelopes review.

Can You Trust Your Finances to Online Software? | Mvelopes Online Software Review

Comments

August 13, 2008 at 7:42 pm
(1) ebs says:

I am currently trying to cancel my mvelopes account, and am having GREAT trouble. I click to chat after I have logged on to my account, this is the way they want you close out the account. It loads forever without going anywhere. To date I have sent 3 emails, 2 of which gave ambiguous, non helpful answers. I go to the forum to type in “cancel mvelopes” to see if there might be a problem with my browser edition, but it logs me off every time i enter that. Seems a little too convenient. The phone number just has a message to go online to chat with a rep. Any way to help???? PLEASE!!!!!

August 14, 2008 at 4:09 pm
(2) Shelley says:

I could find no way to try to reach Mvelopes customer service on your behalf with an Mvelopes account, which I am not willing to sign up for. so, I emailed the PR contact listed on Mvelopes web site. I do not disclose email addy’s of my readers, so hopefully, information will be posted here for you. If I get a response via email, I will pass it on to you. UPDATE: The email for Mvelope’s media contact appears to have bounced. Will see what I can do to get through to someone at Mvelopes!

Shelley

August 15, 2008 at 3:38 pm
(3) Nicholas Thomas says:

ebs, We apologize for the inconvenience, and we’re glad we were able to talk with you yesterday and get your account canceled.

Shelley, Here’s what happened. We received a message via a sales request form on Sunday, 8/10/08 from ebs. We responded on 8/11 providing instructions on how to cancel the service via live chat after logging into our service. Live chat with Customer Service is open 24×5 from Sunday at 7pm PT through Friday at 7pm PT. When she tried to chat in, she could not connect to an agent due to a compatibility issue between her computer and our chat system. She then sent an email reply on 8/11 expressing her inability to chat with us. We responded instructing her to chat in using our sales chat system (a different chat provider), but have no record of an attempt to connect on our secondary system. She then sent another email expressing an inability to chat. We replied offering a scheduled call-back on 8/14 with a senior agent. Her account was canceled after we were able to verify identity through the callback. We offer a telephone call-back service for customers who are not able to resolve their issues through chat or email, but do not offer on-demand telephone support because the business model does not support it.

In addition, I have openly communicated my direct phone number to our subscribers and in several places online to ensure customers have a path to escalate if our support team is unable to provide satisfaction. If a customer has an issue and is unable to resolve it through the support channels, wants to provide considered feedback on the service, or has ideas on how to improve our service, I welcome a call to my direct line at (801)984-4210.

Nick Thomas
Co-Founder and COO
Finicity, the makers of Mvelopes

August 18, 2008 at 9:45 am
(4) Shelley says:

Thank you, Nick!

I followed up with the reader, and have confirmed that the account has been canceled although we’re not sure how Mvelopes support figured out who the reader is. What matters is that the correct account was canceled, although the reader has to wait 4-6 weeks for a refund.

Shelley

October 28, 2008 at 11:52 pm
(5) Kelly says:

mvelopes gave me a BIG hassle too. Run away, no phone calls to them allowed. They only respond on certain days if you have PAID with a credit card first. Yes, if they don’t have your card number and charged support cannot talk with you. They will charge you for a month if you cancel immediately. Nicky is Tricky, were they honest he would not need to explain in so many forums.

December 14, 2008 at 2:26 am
(6) monk says:

This product sucks..
They are all into making money by dumping their product on we customers.

I wld recommend a mass boycut of this product using word of mouth.

December 15, 2008 at 3:09 am
(7) surfer says:

right, I totally agree with Monk. This is high time and we should do it.

December 25, 2008 at 2:28 pm
(8) mike says:

YWe’ve been using Mvelops for over a year and it’s great. Mass boycott, what a moron.

December 31, 2008 at 3:08 am
(9) surfer says:

Oh really Mike!!! is it so?

Most of the time this kind of positive comments are written by the company’s own PR team. This product suck! and the company too.

Check this out www.mint.com

This is a far more better product and the best part…its free!

January 1, 2009 at 11:42 pm
(10) saver says:

Another good option is http://www.buxfer.com/. This one is free as well.

January 2, 2009 at 11:17 am
(11) Felema says:

I took a look at the Mvelopes “commercial” on line and thought it sounded pretty good. I live on a fixed income, so I needed to find out the cost of the product after the free trial. Looking for that info led me to posts about the product — some people love it, others were disenchanted with customer service, lack of refunds, etc. I certainly understand following user agreements, et al. What I find interesting is why people who are satisfied with the product are still reading posts about it and making responses, especially the disparaging ones. Reminding people to read “everything!” is a good idea; calling people morons, etc. doesn’t help. I have gotten to the place that I copy and paste the User Agreement into word so that I have a chance to read the whole thing first. Usually I decided to skip getting a product or service as a result. I do believe that most user agreements are designed to “trick” people. it’s not that there is so much to read, but many times the wording is presented in less than a straight forward way. It can be done better, with the well-being of the customer in mind.

January 7, 2009 at 9:25 pm
(12) Sara says:

I used Mvelopes for a year. I liked the software, but wanted something more affordable. I had a difficult time canceling the account, which is a long story. In the meantime, my account was charged for another year subscription. I was in constant contact with the company to get my money back. They continually told me I should get the refund in two weeks. After three months, I finally contacted the BBB of Utah and received a refund within the week.

February 23, 2009 at 12:06 pm
(13) Tiffany says:

I too am trying to cancel my Mvelopes account and can’t reach anyone! Can someone help me get a contact number?
Thanks!

March 12, 2009 at 11:59 am
(14) Kevin Coffin says:

I have used mvelopes for over 2 years now. It is worth every penny of its $7.90 per month. There are several other non-subscription based programs out there (Budget, Moneywell), but mvelopes is the only one that I know of that automatically pulls your transactions in from your bank. In other programs, you have to manually input each transaction. I’m willing to pay for this greater ease of use and time savings. Is $7.90 a month really that expensive when you consider the time saved over other programs?

The program works astoundingly well, is very well designed, does what it promises, and rarely has a problem. Every once in a while mvelopes pulls the same transaction in twice, as a duplicate, so you do need to balance between your bank and the program, but again, this is still a heck of a lot easier than manually inputting every transaction.

I am a happy satisfied customer. Support on the one malfunction that I did have was prompt and it turned out to have been an error that I made myself.

April 15, 2009 at 1:34 am
(15) Jake B says:

Mvelopes fooled me. They got 3 months pay for a look at an unexceptional software. It is a momentous hassle to get a refund.

Only by chat online. You cannot cancel via phone, emails, or even via the US mails.

Watch out America!

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