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Scheduling a transfer between accounts

epsteve
epsteve Member
According to Help, in order to Transfer money between accounts at the same institution:
To transfer money between two non-investment accounts
Open the account you want to transfer money from.
Click Account Actions icon (the Account Actions icon), and then choose Transfer Money.
BUT, there is no choice called Transfer Money in the Actions

Best Answer

Answers

  • epsteve
    epsteve Member
    edited November 2020
    In most months I need to transfer money from my Personal Checking to my Business Checking (or vice versa) to cover online payments. I use the Online Transfer function in the Source account and the Category is the account to transfer to. I seem to remember that, in the past, I've been able to schedule these transfers at some date in the future when the funds will be needed. Now when I try to do that, I get an error message saying that I must use Today's Date. WHY?
  • volvogirl
    volvogirl SuperUser ✭✭✭✭
    Do you want to make the transfer actually happen at your bank or just record the transfer in Quicken?
  • GeoffG
    GeoffG SuperUser ✭✭✭✭✭
    Since your title states scheduling a transfer, I'll infer you want this to happen in the future. If so, you would use an transfer reminder to enter the transfers into the registers.
    user since '92 | Quicken Windows Premier - Subscription | Windows 10 Pro version 20H2
  • epsteve
    epsteve Member
    Yes I do want the transfer to occur in the future. I want it to occur between 2 accounts at the same bank.
    Boatnmaniac: thanks for the image. I was pressing the gear on the register entry line not the one at the top
  • GeoffG
    GeoffG SuperUser ✭✭✭✭✭
    epsteve said:
    Yes I do want the transfer to occur in the future. I want it to occur between 2 accounts at the same bank.

    In that case, you don't use the register. Under Bills & Income you would select Add Transfer Reminder. 
    Once the date triggers and the entries are in the register, you can change TXFR to OXfr and submit online if you have a bank with Direct Connect.
    user since '92 | Quicken Windows Premier - Subscription | Windows 10 Pro version 20H2
  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭
    epsteve said:
    Yes I do want the transfer to occur in the future. I want it to occur between 2 accounts at the same bank.
    Boatnmaniac: thanks for the image. I was pressing the gear on the register entry line not the one at the top
    Ah.  Those Gear icons can be confusing sometimes because they show up in so many different areas and in each area they serve different purposes.
    My bank (BBVA USA) does not allow for scheduling individual online transfers (via Direct Connect) between internal accounts for future dates...only allows for online transfers for the current date.  If you are trying to set up an online transfer with your bank (must have Direct Connect set up with your bank) and if your bank has the same restriction you have the following options:
    1. Wait until the date you want the transfer to occur to schedule it from within Quicken then.
    2. Set up a Transfer Reminder as suggested by @GeoffG and then enter it into the registers and send it on the date you want it to occur.  (This is a really handy tool for scheduling repeating transfers.)
    3. Use Transfer Money to enter it into your register immediately as a TXFR (as opposed to setting up a Transfer Reminder for entry into your register later).  Then on the date you want it to occur, change the TXFR to OXFR and then run OSU to send the command to your bank.
    4. Enter the TXFR transaction directly into your register for the date you want it to be sent.  Then on the date the transfer is to occur, you change TXFR to OXFR and run OSU to send the command.
    It is simply a matter of preference as to which method you use.
    If you do not have Direct Connect set up with your bank, you will not be able to send the transfer command to the bank.  But you can still use one of these same options to enter the transaction as TXFR only and when the banks downloads the transactions into Quicken they will be matched with the TXFR transactions you previously manually entered there.
    (QW Premier Subscription: R32.12 on Windows 10)
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