A while back, I decided to join MyUniverse web portal created by Aditya Birla Money Limited. It is purported to be personal finance website which can aggregate data from various financial institutions and show in one view. 2 days back, I wrote an angry mail to them to drop me from the portal. This was despite paying Rs 750 in yearly charges and using it only for a month.

My reasons

  1. MF transactions from Karvy managed MFs are not shown in detailed view if you link your MF accounts. That leaves reliance, UTI and many other fund houses out of the platform. You need to add holdings manually and update it manually. They have no fixed timeline to fix the issue.
  2. Most of the time, site fails to retrieve the data from backend which is all kept in one folder per user. If it cannot open that folder, nothing is shown to user. This is the worst software design one can think of.
  3. Help portals and message walls only allow the messages that are congratulatory in nature. No criticism is allowed.
  4. Integration with moneycontrol and sharekhan is pathetic. Linking account page still shows these. They are even aware of it but still shows it in the linking page.
  5. Help is practically non-existent on the help portal. Switch-In and Switch-out is not explained.
  6. Switch-In and Switch-out features are so buggy that even a college student would have coded it in better way. A sell transaction is recorded as buy one.
  7. They have stopped responding to the request for discussion with a proper senior person.
  8. Alerts feature only provides information. It is not easy to find out how to act on those alerts.
  9. Connectivity with ICICI is very shaky.
  10. It does not have any qualms adding same account or same transaction twice. No error checking exists.
  11. Site is extremely slow to say the least.
  12. Reporting page is extremely confusing.
  13. No windows phone app exists for it.

I finally figured out that its is better to manage personal finance via excel sheet than any such websites. I will give a spin to intuit but may not stay their also for long.

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3 Responses to experience

  1. FINMIN says:

    I agree, is terribly slow and I don’t think they have plans to do anything about. I am a lifetime member. I think it is meant for elderly people who won’t mind staring at the screen for something to appear. I also have an account with, though it is pretty fast they lack good reports and don’t have support for financial institutions like ING Vysya etc. If improves their website speed then they may beat perfios anytime because of its meaningful reports. Perfios is very good in categorization while myuniverse is terrible in that. The excel upload feature of Perfios is the best and versatile while myuniverse is not even having an option for such feature. I feel perfios is written by software professionals have some support from financial background people and myuniverse is designed by financial experts with amateur software engineers.
    Score: (1Min – 10 Max)
    Category Perfios muniverse
    GUI 8 6
    Downloading /
    Uploading facility 10 -1
    Financial Reports 3 7
    Support 6 1
    Roadmap 5 8
    Multiple institutions support 5 9 (Supports billers too)
    Speed 9 1 (Pathetic)
    Cross platform (firefox) 7 2 (does not work well with firefox)
    Overall 7 3 (They will score higher if they improve speed)

    Feel free to correct me if I am wrong.

  2. Srinivas G says:

    I agree, myuniverse is pathetic! I too am a lifetime member and complained, they promised to fix in a few months but there is no change, still remains slow, erratic and unintuitive.

  3. Niranjam says:

    One of the worst services for SIP

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