Range at which I can import QFX files?

Randall McCaffry
Randall McCaffry Member ✭✭
in Before you Buy
If I bite the bullet and buy Quicken home and business tomorrow, can I import QFX (I understand that format is quickens work product) I have on my hard drive that I downloaded from the bank and credit card. These files go back to Feb 1 2019. Just trying to make sure Quicken is not blocking these files. I accept I am sticking around one more year with a predatory company, I have no choice but to follow it, I just don't want to blow another $90 and still come up short.

Best Answers

Answers

  • JustMeHere
    JustMeHere Member ✭✭✭✭
    edited February 2020
    In general I would say if you have the QFX files they should import, but I won't give you a 100% on that because I have seen some of the financial institutions block them (EDIT by "them" I mean really old QFX files).  That's right not Quicken, the financial institution from what I can tell.  In very rare cases it seems when Quicken goes to login (and does even for QFX files) the financial institution rejects it.

    Note you do have 30 days to get a refund if it doesn't work.  And you might be able to shop around and get a better deal on the price.

    For instance this one:
    https://www.amazon.com/Quicken-Home-Business-1-year-membership/dp/B07K4FBL4L/ref=sr_1_7?crid=178TIUBZ218JH&keywords=quicken+home+%26+business+2020&qid=1582604726&sprefix=Quicken+%2Caps%2C225&sr=8-7 

    Note that since Quicken is now a subscription it will always update to the latest version for any "Quicken 2018 or above".
    Using Quicken Subscription Premier (and have a copy of Starter to test things on)
  • JustMeHere
    JustMeHere Member ✭✭✭✭
    smayer97 said:
    I'm not sure how that would be possible. The mechanism for importing QFX data files into Quicken is that Quicken "phones home" to verify that an FI/bank is still registered for that version of Quicken. The verification is based on the INTU.BID, which is simply the Bank ID assigned by Intuit. As long as the FI/Bank is still registered, the data will import.


    Frankly I can't explain it either but I do remember someone that had a lot of old QFX files and found they couldn't import some old QFX files.  That is why I said that.

    The more I think about it though the more I have to believe that what might have gone wrong for the user is in fact the INTU.BID must have changed for the financial institution.

    This made me remember that I have a very old QFX file from Vanguard that I keep around just for reference and that it doesn't import, giving that the financial institution can't be verified.  I just looked at the INTU.BID in it and compared it to what Vanguard is currently using and it different, and the number isn't being used by any financial institution.
    Using Quicken Subscription Premier (and have a copy of Starter to test things on)
  • Randall McCaffry
    Randall McCaffry Member ✭✭
    Hello "Justmehere"; thanks for the link. I purchased it.

    I was an intuit fan when they were up against peachtree. I transitioned from Qbooks to Q (quicken) to match my life in 2013. Disappointed but made the best of it. IE: Home and Business; missing tax assignments & no way to customize; Intuitive categories were a waste & no customization or memorized transactions, needless eye candy, and so on. Over time I watched as they funneled multiple import formats to one, then took it away unless you paid more.

    Much like quizy quick was the killer app of the PC, the ability to download data is the foundation of quicken. IMO (in my opinion), not providing support if one does not re-purchase is ethical, taking away a foundation of the system is unethical but, its their product. They can do what they want.

    ?... Solidworks; has a maintenance program: approx. 20% /product price; includes license & support. One can report a bug to them (and I have done it) and they will fix it, fancy that. That would be a business model I could support.

    Over a lifetime I have seen great companies turn into predators when they need money. Their growth period (lots of sales) is over. They don't look within for the solution.

    Super User smayer97 & Justmehere are fantastic. I have very much appreciated their support. Quicken should pay them to be their support department.

    IMO, in today's market Q is transitioning from a staple to convenience. It holds on by its sister software, turbo-tax. At $53, I will hang on for another year.
  • JustMeHere
    JustMeHere Member ✭✭✭✭
    Randall McCaffry said:
    IMO (in my opinion), not providing support if one does not re-purchase is ethical, taking away a foundation of the system is unethical but, its their product. They can do what they want.
    I view it slightly differently. I totally agree that the foundation of Quicken is the fact that they can download transactions, without that there is no "consolidating", and as such "no Quicken".

    But I look at Quicken as a service where you use a program to get that service.
    for life.  Quicken Inc in fact pays Intuit for the connect services, and other third parties for other services that the customers have said they wanted.

    So they have ongoing costs, and as such I don't see how people can expect to have the service for life by paying for a program 20 years ago.

    On the other hand there is the fact that they cut off even importing a QFX file, that I think is wrong.
    Using Quicken Subscription Premier (and have a copy of Starter to test things on)
This discussion has been closed.

Categories