Live Oak Bank

[Deleted User]

Live Oak Bank shows up in Quicken's financial institutions as Live Oak Bank Direct Connect.  I have been considering moving some savings accounts over to them from Ally Bank, but Live Oak says they are not compatible with Quicken yet.

Does anyone know for sure?  It seems odd that Quicken shows them as a direct connect bank....

Quicken_Tyka

Hey Joe,

I personally don't use this bank, but they appear to be active in our bank list.

Sometimes, if a bank is in the list but not active, attempting to connect an account will yield an error message that says something along the lines of being inactive.

I was able to start to add an account and was give an link and phone number to contact them directly to enroll to download transactions.

Everything seems to be functional within the program to do so.

Hopefully someone with this FI will see this an chime in with some personal experience.

-Quicken Tyka

[Deleted User]

Quicken Tyka said:

Hey Joe,

I personally don't use this bank, but they appear to be active in our bank list.

Sometimes, if a bank is in the list but not active, attempting to connect an account will yield an error message that says something along the lines of being inactive.

I was able to start to add an account and was give an link and phone number to contact them directly to enroll to download transactions.

Everything seems to be functional within the program to do so.

Hopefully someone with this FI will see this an chime in with some personal experience.

-Quicken Tyka

Thanks Tyka!

RickO

I just opened an account with Live Oak Bank on the assumption that I could connect to Quicken because it's listed in the fidir.txt file. Once I got the account open and tried to connect, it failed. I called them and they say that they do not support Quicken. I don't know why they are on the list. 

Unfortunately, I didn't check the community before opening the account. Now I've got to transfer the funds out and close the account.

So two years later, they are still on the list and still don't support Quicken. Hopefully they can be taken off the list so that others don't run into this issue.

Quicken_Natalie

Hello @RickO,

Thank you for taking the time to report this.

Upon researching this a bit further, it is my understanding that the FIDIR list is updated regularly and if a financial institution were no longer supported, they would be removed.

Something else may be occurring here, that may be worthwhile to look into.

Do you receive any error messages in Quicken when attempting to add your account with Live Oak Bank?

It seems that the Direct Connect instance requires special credentials from Live Oak, and the "Business Banking" instance returns a generic error when attempting to link in Quicken using fake credentials.

This also seems to have the same requirements/setup process, as well as produces the same results, in Quicken for Windows. 

If you have not already, you may consider contacting Live Oak Bank once more and attempt to obtain access/credentials for Direct Connect specifically, in hopes that the next Representative you speak with is a bit more knowledgeable in this area.

Thank you,

Quicken Natalie

RickO

When I contacted them, they very clearly stated that they don't support Quicken and don't intend to. But I can try again.

RickO

Here's what I get when I try to connect via Direct Connect using the LOB website credentials:



It seems as though the server connection is not available, which would be consistent with their statement.

I don't have a business account, but here's what I get when I try that method:

RickO

@Quicken_Natalie

Hi Natalie,

I contacted Live Oak Bank again and asked to speak to their web support team and then asked for credentials needed for Direct Connect access. They repeated, once again, that even though Quicken may list the bank as available, they do not support Quicken and do not know if they ever will

Therefore, I am asking that Live Oak Bank be removed from the fidir.txt file.

Thanks.

Quicken_Natalie

Hello @RickO,

Thank you for pursuing this and for posting back with the results!

I have gone ahead and passed this information along, although I'm unsure when a resolution will be reached.

I will let you know if I need anything more from you regarding this. 

-Quicken Natalie

RickO

thanks!