Moving Cash Between Checking and Savings Not Actually Working

jkstewart3

Transfer between checking and savings updates in Quicken but does not happen at Bank of America. So you think you moved funds from checking to savings in app but in reality the transfer dies not happen at the bank.

jkstewart3

It would be better to disable features that Quicken does not perform regression validation upon.

splasher

Quicken can only cause an actual transfer between accounts at the same FI if the account is setup for Direct Connect (Tools->Account List) and then you have to tell Quicken to make it an Online Transfer (Ofxr) in the Check # column and it will show a lightning bolt.

Just making it a transfer using the appropriate category entries does not initiate a transfer of funds at the FI.

jkstewart3

Two things the accounts in question are setup for DC. The fact that Quicken confirms the transaction that does not transact at the FI is unacceptable.

splasher

If that is the way you feel, you need to start another thread as an IDEA with a FULL description of how you expect it to work.
The current system works if you use the correct action in the Check # field and if your FI supports this process.

jkstewart3

IMPRESSION: clunky and misleading ‘Transfer within Quicken’.

Ps56k2

splasher said:  ... then you have to tell Quicken to make it an Online Transfer (Ofxr) in the Check # column and it will show a lightning bolt.

Would like to try this action on our Chase accounts....
Never done it via Quicken,

just usually bring up the Chase App and do the Transfer via the App.

So.... what are the important things to enter into Quicken as a test

splasher

Appropriate category, amount and OFXR in the check # column always did it for me.
The accounts have to be under the same FI username/password login.

Ps56k2

TA DAH - way cool....

Chase web ....

Quicken Register

splasher

It is the Ofxr in the Check field that tells Quicken to send the transaction command to the FI, not it just being a transfer.  If it didn't take the Ofxr to trigger the event, every transfer would cause it, even when they are created by downloaded information which would create quite a mess.

Ps56k2

I also just noticed - in the Category list of avail transfer accounts -
it lists.... the other checking account (which we used),
our MC credit card, and our Visa credit card -
I'll have to try and see if the "transfer" will work for paying the monthly statement ?
all within our Chase banking world

Ps56k2

jkstewart3 said:

Two things the accounts in question are setup for DC. The fact that Quicken confirms the transaction that does not transact at the FI is unacceptable.

And you never mentioned that the Quicken transaction entered looked like mine -

with the lightning bolt - the OXFR in the Check # column - the [bracket] acct -

RonF

RE: OXfr
The option to use OXfr disappeared as an option a month ago in my account. The Account List includes both bank accounts at the same FI and both are setup for Direct Connect. Can't figure out by OXfr just disappeared as an option.