Download statements

I realize that this is a big ask but it would be a great feature if quicken could download bank statements and other documents for each account.

First you  would have to get a protocol agree upon by all the various institutions. All documents generated by the bank/whatever would be required to have a unique name.

The user would create a download directory for each account (with the ability to share the same directory for multiple accounts at the same bank). Then, sort of like the "one step update" process, the user would click on a button that would go make sure that all the statements, tax documents or other documents related to that account were downloaded to the specified directory.

There should be an option to allow this check to happen every time the "one step update" is used or seperately.

This would be a GREAT feature and save a lot of work, especially with all the banks trying to push people to electronic statements.

2 votes

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  • NotACPANotACPA SuperUser ✭✭✭✭✭
    You can already download, outside of Quicken, any PDF reports that the FI generates .... and attach them to your account in Q.
    What won't happen, however, is extracting the data from those reports and using it to populate transactions in your Q accounts.
    And, why should a new format be created ... when PDF is so widely/internationally used?
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • SherlockSherlock SuperUser ✭✭✭✭✭
    If you haven't already, you may want to consider using:
    Quicken user since 1997 
    Premier on Windows 7 
  • griebt42griebt42 Member
    edited May 16
    NotACPA: I think you missed my point.

    Let's say you have, say 10 bank accounts at three different banks, another 6 accounts at 3 different investment firms, and 2 accounts at two different credit card companies. If downloading a statement takes 5 mouse clicks plus login times and sometimes file name typing times, you can easily spend 1/2 hour just downloading statements.

    If you have to do that once a month then it can be a lot of time. If you try to "batch" them and do it once every 3 months or so then if you are like me, you forget, and then run the risk that the statements "fall off the end" at the F.I. you are using and you can never get them. 

    I don't care about auto importing any data into quicken. I just want to have a permanent record of all these statements. For now, I use paper statements but with more and more pressure to use electronic statements that is getting harder to do.

    I think that Quicken could provide a real value here to its customers by auto-downloading these statements. The statements themselves can be in PDF form (in fact that's preferred), but there still would need to be an agree upon protocol that quicken could use to request the statements and insure that within a given FI that they have a unique name (as opposed to "statement.pdf" which is used by some F.I.'s now).

  • griebt42griebt42 Member
    edited May 16
    Sherlock: Thanks for the pointer. I go check it out.

    I'm doubtful though that any product can currently do what I'm asking for unless there is already some protocol agree upon that I'm not aware of.

    The key to making this all work is to have an agreed upon interface that client side apps can use, in a secure way, to grab statements and other electronic documents from a financial institution in such a way that they can be stored on the client in some well-known (pdf) format.

    In any case, I'll check out the product that you mentioned. Thanks.

  • Filethis works almost exactly as you described. I use it for several accounts. It syncs to dropbox (as well as others) which then syncs to your computer.

    The downside is it means trusting another entity with your logon credentials. Quicken already has them and I would prefer to keep it all within Quicken.

    Quicken does have a statement download feature but all it does is give you a link to click on, it doesn't download the statement itself. 
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