91% of Mint.com Users Who Previously Used Microsoft Money Say They’re Satisfied with the Switch

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Martha Shaughnessy
Atomic PR for Mint
martha@atomicpr.com
O: 415.402.0230

91% of Mint.com Users Who Previously Used Microsoft Money Say They’re Satisfied with the Switch

Mountain View, Calif., June 11, 2009 – – More than 1 million people have already chosen Mint.com’s (www.mint.com) free online personal finance service over traditional desktop software. With the recent announcement that Microsoft will stop selling its Microsoft Money product, Mint.com wants to welcome Money users to easier, effective online money management and budgeting. Mint.com is recommended by leading financial and software experts as a better alternative for many desktop software users looking for an easy, effective way to manage their finances.

“The idea for Mint.com was born out of my personal frustration with desktop software, and we designed the product as an easy-to-use alternative. MS Money customers looking to replace their desktop solution will find Mint to be a refreshing change,” says Aaron Patzer, CEO and founder. “In the same way iTunes won over millions of people with mobility and ease of use, we see online money management as a similar shift. If you have a cassette collection that can no longer be played, why switch to CDs, when you could make the direct jump to digital?”

According to a recent Mint poll, 52% of users registered for the service because they wanted an alternative to Microsoft Money or Intuit’s Quicken. In addition, 37% of Mint users previously used Microsoft Money, and 91% of those users are satisfied with the switch.

“Mint helps me organize and budget my finances like Money never could!,” said one survey respondent. “I love the online access and the expenses tracking tools!” Another commented that Mint.com “is a free money management website that has better integration with banking accounts than Money and Quicken and is extremely fast and easy to set up and maintain.”

Mint.com has been lauded among tech review sites and financial leaders as the best solution in the personal financial space, including The Motley Fool, who selected it the Best Money Management Tool over Microsoft Money. Mint.com is rated top in its category by Kiplinger, Money, PC World and PC magazines. These reviews typically point out three key ways in which Mint.com differs from personal finance desktop software.

1. Easy

Mint.com takes less than five minutes to set up. And then does the rest, categorizing and tracking transactions from more than 7,500 bank, credit card and investment accounts on a daily basis. Users never need to import or synch their data, and the site is secured with bank-level data security.

The site also alerts users to low balances, bank fees, upcoming bills, budget infractions, and even potentially suspicious account activity.

2. Effective

The service is highly automatic, giving users precise insights into their finances in at-a-glance charts. Because Mint.com’s patent-pending technology does all of the bookkeeping, users can focus on making better financial decisions, rather than maintaining charts of accounts or balancing virtual check books. A 2009 Mint.com survey found that nearly two thirds of users have already changed their spending habits based on what they’ve learned from Mint.com, with the most common change being dining out less.

3. Everywhere

One of the biggest enhancements that MS Money users will experience when they switch to Mint.com’s Web-based service is the convenience of having anytime, anywhere access to their financial information. In addition to its site, Mint.com offers users up-to-date information on their phone, via Mint.com’s iPhone application (rated #1 free personal finance app by Money Magazine) or by texting Mint to get account balances (short code MyMint 696468). They can even keep an eye on their money via an overview shown on their My Yahoo personalized home page, with the launch of Mint.com’s application for My Yahoo users last week. Mint.com was one of just a dozen applications selected for one of the world’s largest online communities’ new Open Applications platform.

About Mint.com (www.mint.com)

Mint.com is the nation’s leading online personal finance service, providing 1 million users a fresh, easy and intelligent approach to money management. And it’s free. Mint is tracking over $50 billion in transactions, $15 billion in assets and has identified $100 million in potential savings for its users.

Designed to be effortless, Mint.com takes less than five minutes to set up. Users register anonymously using only a valid email address. Mint then does the rest, securely downloading transaction data from more than 7,500 bank, credit card and investment accounts on a daily basis. Users never need to import or synch their data. Mint applies patent-pending technology and proprietary algorithms to categorize transactions; provide a unified view of all account activity; alert users to low balances, bank fees, upcoming bills, and even potentially suspicious account activity; and give users personalized suggestions for significant savings opportunities. Each user can monitor their total net worth, virtually real time, at www.mint.com, from any mobile phone (by texting short code MyMint [696468]), or by using Mint.com’s iPhone application – rated #1 in the Finance category in iTunes on the day of its launch.

Mint.com is rated top in its category by Kiplinger, Money, PC World and PC magazines, was named one of the 50 Best Websites of 2008 by TIME magazine, and has received four Webby awards, a Thomas Edison award, an American Business Award and accolades from the Wall Street Journal, BusinessWeek,TechCrunch, and Lifehacker, since its September, 2007 launch. The company was named one of 34 international Technology Pioneers by the World Economic Forum in 2008 and publishes an award-winning personal finance blog at www.mint.com/blog/ .

Mint’s management team includes seasoned industry veterans drawn from the ranks of Charles Schwab, eBay, Expedia, Intuit, PGP and other leaders in the finance, security and software industries. Investors include top venture capital firms and prominent individuals whose past investments have included Google, Intuit, eBay, PassMark Security, PayPal, Yahoo! and others.

For more information on Mint.com’s free online personal finance service, please visit www.mint.com

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