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Bill payment (from within Quicken) funds withdrawal date versus actual payment date...

(Quicken 2007 for the Mac and Quicken 2019 Premier for the Mac)

Using Quicken 2007 for the Mac (build 16.2.4) I pay my bills within Quicken by enabling "pay bill through my bank" (NOT Quicken Bill Pay) and have been doing this successfully for years. In the account register field "number" I enter "send" and for all online payees (and a $9.95 monthly fee from Wells Fargo!) online payments are processed. The date that I specify for payment (which requires me to "send" at least 5 business days prior) is the earliest date the payment can be negotiated/deposited by the payee. Upon sending payment a discrete check number is assigned and automatically placed in the "number" field of my account register. Funds are NEVER withdrawn from the account until the payee negotiates the check.

For the last few months I have been running Quicken Premier 2019 for the Mac with the same bank listed as "Bill Pay Provider" and Online Payee data entered and present for each Online Payee. In Q2019, If I follow the exact same process as in Q2007 and originate the payment in Q2019, the "Edit Details > Online Payment" area shows a calendar with two dates, the "debit date" when the amount will be deducted from the account and the "pay date" when it will be delivered. This means that between the debit date and the pay date, which appears to be about 5 business days, I no longer have access to my money nor has the payee yet received the check payment.

To make matters stranger, if I originate such a payment in Q2007 and then "update online account" (the same bank account of course), the Q2019 account register for the same payment in "Edit Details > Online Payment" shows "Funds will be removed from your account on the withdrawal date" i.e. no discrepancy between debit date and pay date.

Now I am wanting to make the move exclusively to Q2019 soon but I don't want my bill pay funds removed from the account until the payment is negotiated/deposited by the payee, just like I've been doing in Q2007 for many years.

I have looked all over Q2019 for a setting or preference or something to make Q2019 perform consistent with Q2007 in this regard. Does anyone know what I can do to make Q2019 perform consistent with Q2007? Thanks!
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Answers

  • RickO
    RickO SuperUser, Mac Beta Beta
    My guess is it's something the bank is doing. When I transitioned from QM07 to QM15+, the bill pay behavior stayed the same. That is, it is not posted to my account until the payee presents the item for payment.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • Jon McIntosh
    Jon McIntosh Member ✭✭
    Thanks RickO. It's probably worth giving the bank a call though I'm not looking forward to the nightmare of educating 4 or 5 people before I get to someone knowledgable. I hope I get additional responses from the Quicken Community. I can't be the only one with this issue.
  • Jon McIntosh
    Jon McIntosh Member ✭✭
    I called them and the issue it NOT with the bank as RickO suggested. Will a qualified Quicken support tech give me a reply to this issue please?
  • Jon McIntosh
    Jon McIntosh Member ✭✭
    Thanks so much jacobs...a big help! :)
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