Mint.com Has Added Canadian Banks

Back in September I wrote about how it was expected that Mint.com was coming to Canada in early 2010. Then a week later it was announced that Intuit was buying Mint. This led to more speculation on whether Canadian banks were still in the cards and if so, when would it happen?

Well now we can see that Mint has made some major improvements towards full access for Canadians!

What has been added to Mint.com

Mint has made lots of progress in what is probably the most technical aspect to adding Canadian support; getting our banks working with their site.

  • 4 of the “Big Five” Canadian banks. You’ll find Royal Bank, TD Canada Trust, CIBC, and Bank of Montreal (including BOM InvestorLine).
  • Scotiabank does not seem to be available, though their Scotiabank Brokerage and Scotia iTrade are both up and running.
  • Smaller institutions like President’s Choice Financial, HSBC and the MBNA credit cards.

What Mint still needs to do

Aaron Patzer, the Founder & CEO of Mint, sent me an email to point out a few things that they are still working on before the official Canadian launch.

  • Canadian categories
  • spelling “cheque” correctly
  • TSX symbols
  • Tips for saving with Canadian accounts, not 401ks and 529s.

I’ve noticed a few things too that I am hoping will be in place in time for the official launch.

  • You need to enter a zip code to sign up. I used one in Montana since it’s close to Alberta, but when in doubt, for a real zip code, there’s always 90210!
  • My RRSP with Royal Bank is showing up as a credit card. It does show as a positive amount though, not a negative, so the net worth is calculated correctly. Unless I missed it, an option to recategorize this to Investments would be an easy fix.
  • My TD e-Series RRSP does show up correctly under Investments, but it shows the price paid and market value as the same amount, which unfortunately is not the case.
  • No way to enter a postal code to track the value of your home. There is an option for a manual price entry, but it would be interesting to see a moving value and it’s effect on my net worth.
  • Credit cards from retailers like Sobeys and Canadian Tire.
  • Not sure if this is a Canadian issue, but my credit card shows the correct balance and credit limit, but the available credit calculates as if I had a credit limit of $0. This sets of a warning message that I am over my credit limit.

While there is still some work to be done, I’d suggest you head over to Mint.com and check out what’s available right now. From what I’ve seen so far, Mint is a great free service for budgeting and tracking your expenses.

Update August 20: As Charles pointed out in the comments below, it appears CIBC, including PC Financial, are now blocking Mint from pulling their data. While this is an attempt to protect their clients privacy, hopefully Mint will work out an arrangement with them so Canadians have full access to all their accounts in Mint.

Written by Tom Drake

Tom Drake is the owner and head writer of Canadian Finance Blog. While you’re here, consider signing up for the RSS feed or email subscription. Both deliver the latest articles directly to you! You can also follow me on Twitter for all the latest posts or to send me any comments or questions!

28 Responses to Mint.com Has Added Canadian Banks

  1. Hi. I think your post may have been a bit premature. Looks like mint.com isn’t ready for Canadians yet. Let’s hope they open doors soon as I’ve heard great things about their service.

      • Hi Tom. Just wondering how does Quiken money management compare to Mint? I would like to use Mint but my main bank aTB is not one of the banks available

  2. I signed up for Yodlee a while back and used it as it had Canadian Banks, but are missing a large number of Canadian credit cards. So, nothing perfect. I have asked both, but none have replied or implemented, the ability to import multiple transactions from a CSV or other money management software file format. For example, I use a Canadian Tire Mastercard. I can log onto the CTFS website and download the transactions, but I can’t import them into Yodlee. Yodlee sees my credit card payment, and categorizes it as ‘Auto Repairs’.

  3. :) What does Mint.com have to do with the Cheque Republic? OR is that Czech… :) just kidding, I’m glad Mint.com is expanding, their service is awesome and has helped me get things in order, it would be selfish to keep their service stateside exclusive.

  4. Between Wesabe and Mint, which one is better for Canadians? I don’t have to choose until my MS Money expires in Jan 2011.

    • Easy choice Tim, since Wesabe is closing down at the end of the month. ;)

      But that aside, I’d still go with Mint. I really like the convenience of the site pulling in all your data automatically… though many don’t like the security risk of Mint having login access to all your financial information.

      • Hi Tom,
        The issue of mint having login access is my greatest concern. If you look at your online service agreement with the financial institution it states in legalise that they are not responsible nor will they help you or compensate you should something happen when you have given your password and id to a third party. Only if your accounts are hacked will they protect you. I’m sure mint is a fantastic site but that is hefty risk. I am reminded of the Irish bank that had a trader who ripped off millions. A bank employee. Who is to say there can’t be a mint employee who might do the same. Frank

    • Forest, not sure what the plans are for the UK, but back in September Aaron’s quote was “Canada and the U.K. would definitely be the first. I would like to say early next year.” Not sure if Intuit considers them part of their market though so it might be off the table?

  5. Are you sure it has BMO Investorline? It shows the cash balance of my Investorline account as linked to my BMO accounts, but not my actual stock holdings…. Am I missing something?

    Thanks!

    • Karl,
      I don’t have any BMO accounts so I can’t confirm. When I wrote this they did have “BMO Financial Group – InvestorLine” listed separately but now it’s gone. Maybe there were issues with it?

      • Thanks Tom,

        I’ll check back for the “BMO Financial Group – InvestorLine” in a few weeks. Overall Mint is pretty sweet. Once they get more Canadian credit cards, etc, online I think it will be great!

    • Rita,

      HSBC InvestDirect (Canada) was there when I was talking with Aaron (from Mint) last week. Looks like it’s now missing just like the BMO InvestorLine.

      For MBNA, it might depend on which credit card you have. For example, search for “Montreal” or “CFL” and you’ll find some of the sports themed cards. Do these cards really all have their own separate login page or maybe it’s possible to choose any of the Canadian options for your credit card?

  6. I really like the concept of this site but have grave concerns about handing over access to my accounts as noted above. I am always skeptical about websites and others who give out financial advice. Without knowing their knowledge and experience in personal finance issues I am always cautious as we all should be. (That being said I have met many “financial advisors” who have little education or experience and this is there job!)
    Without having fully used the site I offer limited comment: from the overview the site looks quite comprehensive. As a Financial Planner I applaud any tool that helps people to organize all their finances in one place and helps the individual to see the big picture – good or bad. Where I see a huge benefit is for ex-pats (once they get UK online it will be even better). I have many clients who hold assets in Canada and the US, or Canada and the UK. one who even holds assets in all three! It is very difficult to pull all the info together look at net worth and assess overall risk and portfolio allocation. Mint should and will make it substantially easier to do. I wonder if they will allow you to choose a currency and convert values for you???
    Thanks for putting this out there Tom!

    • I get annoyed when I see cheque. (:-) Mainly because unnecessary letters do not make a language easier but harder for new Canadians and everyone in general. Plus, how does one sound out “chegue”? checkue? (:-) Check is the best in my most humble opinion. I am a patriotic Canadian who is willing to give up unnecessary letters to placate the French Canadian side of me and our country. What does “c h e q u e” really add to our language? Everything in life is becoming simplified as you witness acronyms galore, IMHO, being one in particular. Would you rather text message “cheque” or “check”? Better yet why not “chek”? Then we have perfected our English we can start our own Chek Republic (:-)

  7. I’m already trying to use Mint, as I have an American bank account. It’s accepted my accounts at TD and TD Visa, as well as my PC MasterCard. However, it won’t let me log into my AmEx and ING accounts. It keeps trying to log into American accounts that have the same account numbers.

    Regardless, I’ve been able to download some data, and alter categories to my liking. I haven’t figured out how to delete unwanted category names yet.

  8. The Citi Enrich Mastercard is not listed (Citi Bank Canada) and I second that Tangerine does not work.

    I assume at the pace that they are adding and pulling banks, this will be sorted out soon…

    Scotiabank worked fine (didnt know what my RRSP was, I called it a 401K… but it got the rest)

    I cant wait until mastercard is added. That card carries 95% of my spending and is needed to make mint worthwhile.

  9. 3 weeks ago, Canadian Mint members stopped being able to get automatic updates on their CIBC accounts. The problem has been revealed: CIBC is now BLOCKING MINT. See the bottom of http://satisfaction.mint.com/mint/topics/problems_connecting_to_my_bank_cibc?from_gsfn=true for details: “to insure the privacy and security of your financial information, CIBC does not support accounts being accessed by third parties, such as account aggregators.”

    Readers should be made aware that CIBC is no longer among the short list of Canadian banks you can use with Mint.

  10. Well, that’s welcome news… but with several accounts at credit unions it looks like Quicken will be the only viable option for us until mint or yodlee can do an OFX import!

  11. I do all my banking and investments including RRSP with Caisse Populaire Desjardins>…Is it possible to use MINT with this financial institution

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