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HELOC setup issues in latest production version

My bank recently upgraded its online platform causing me to have to disable and re-enable downloading of transactions.  At this FI I have a checking account, savings account, and a HELOC.  All 3 accounts showed available for download in the Quicken online setup.  The checking and savings I was able to map to the existing accounts as before.  The HELOC however would not give me an option to map it to the existing account, only to Add New account.  

I made a backup copy and played around in the temporary file some by allowing Quicken to create an account (to see if I could just copy all the transactions to the new account), etc.  The new account set up for the HELOC also turns out to be broken as it sets it up as a 'conventional loan' which would be a Home Equity Loan not a HELOC (the difference between having a fixed amount with a permanent repayment schedule vs a open credit line to draw from and pay down but with no starting balance).  Quicken insists that I give it a starting balance for the new HELOC account and won't accept 0.  When I put in 1 dollar to see if I can cheese around it, it tries to setup an amoritization schedule and gets itself tied in knots since I have a balance much bigger than $1.  :wink: 

So there are 2 issues:
1) downloads for an account Quicken clearly recognizes as a loan (it gave me the option of several types of loans on setup) is not allowing it to be mapped to an exisiting loan
2) setting up a HELOC as a loan type from any account created that way is also not working correctly as you can't set it up correctly from the start as Quicken is trying to treat it as a conventional loan vs an actual line of credit (i.e. more like a credit card/line of credit than a home loan)


  • NotACPANotACPA SuperUser, Windows Beta Beta
    When you do TOOLS, Account List, and click EDIT adjacent to your HELOC, what shows as the account type?
    A HELOC is usually set up as if it were a CREDIT type account, because of the significant differences between a HELOC and a traditional loan.  Specifically you can take additional draws with a HELOC, which you can't do with a traditional loan, and you can pay off the HELOC and even take  draw after that ... which you can't do with a loan.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Chris_QPWChris_QPW Member ✭✭✭✭
    On #1, I can see why Quicken would never allow connecting to an existing account.

    The whole philosophy of the downloading of loans is "The financial institution is right and the account should just reflect what they send."

    In other words, the user doesn't get to view the register or be able to change it in any way.  Clearly if they let people map a loan to an existing account that would violate that idea.
    (I'm using the latest Quicken subscription version)
  • Michael JonesMichael Jones Member, Windows Beta Beta
    @NotACPA in my case, it's shown as a credit type account as you note. It's been setup since 2014 in Quicken this way, so it's not new nor have I changed any setting on the account. 

    Only since the bank changed their website has this changed when I tried to set it up again. The account screen even shows that downloads are available for the account, but when I do it (as I noted before) here is what I get:

    Further, even in a new empty test file the same things happens. I can create a new account from the new account type, select a HELOC type loan, and Quicken sets it up as a credit type account with no issues. When I go to download, it will not allow downloads for the account even though again it and the bank say it's available.

    If I allow Quicken to setup the account from scratch by selecting 'add to quicken', then I get this info in the account which is clearly wrong as it IS a loan, but it's not A loan in the conventional sense as noted.  

    Lastly, since this is a EWC account, I believe that format and interaction is controlled by Quicken, not the FI.  I might be wrong on that, which is why I'm posting as I don't know if I'm the only one now seeing, this or if it's only me and my FI, or whatever.  :)

    @Chris_QPW Not sure I understand your point, but I can say that for 6 years I've not had any problems mapping this or any other mortgage loan to an online account.  :smile: Don't get me started on consumer loans and Quicken's inability to match a car loan or whatever. That issue is legion around here I think and we have all given up on ever expecting it to get fixed or changed.
  • UKRUKR SuperUser ✭✭✭✭✭
    Ummm ... what options are available if/when you click Type [Loan]? Can you change that to HELOC or Credit ... and what happens after you do?

    If all else fails and if you haven't done so already, I'd say it's time to call Quicken Support on the phone and request help.  Let them do a screen share session with you to review a download log file on your computer, to determine the nature of the problem and to figure out how to fix it.

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  • Michael JonesMichael Jones Member, Windows Beta Beta
    @UKR The type is only open as it keeps insisting on setting up a new account.  I think that maybe affects some of the labelings on the account later (that I can seem to change at whim now that I look at my mortgage for instance) but it doesn't appear that it has any bearing on how the account is created.  I assume that if it were being matched that field would change to not being editable.  :smile:

  • sycamore91sycamore91 Member
    I've noticed the same issue. The only options that show up for my HELOC account are loan options. Before I was able to select credit card. Sounds like a call to Quicken support is in order. I've been noticing they're issuing a lot of software updates over the last few months, so hopefully they'll be able to get this fixed soon with our feedback.
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