Transfers between 2 US$ accounts comes up with Foreign Currency Conversion to CDN

Bruce Dussault
Bruce Dussault Member ✭✭
I am trying to record a transfer of funds from a US$ Savings to a US$ Credit Card. My latest attempts prompts me to convert the transfer to CDN$ resulting in an incorrect amount in the receiving account. I used to be able to do it with no issue. Looks like the currency on the Credit Card has been changed sometime in the last year; I don't use this card much. Can I change the currency to US$ without impacting past transactions? Has there been a change to the account currencies by Quicken? I am using Quicken Canada 2020 R28.15.

Answers

  • Quicken_Tyka
    Quicken_Tyka Alumni ✭✭✭✭
    Hello @Bruce Dussault

    Thank you for taking the time to visit the Community to report this issue, although I apologize that you have not received a response.

    I few questions to help me better understand what could be happening. First, is the account in question connected for automatic download or are the transactions manually entered?

    When looking at the account list, is there a currency designation by the balance?

    Please let me know!

    -Quicken Tyka
    ~~~***~~~
  • Both accounts are set up for automatic downloads and transfers have worked in the past. The currency on the credit account is incorrect but was correct previously.
  • Quicken_Tyka
    Quicken_Tyka Alumni ✭✭✭✭
    Hello @Bruce Dussault

    Thank you for the response and the additional details.

    If you have not done so already, I would follow the steps available here, to change the currency of the account to the correct currency.

    Once this has been completed, are you able to complete the transfer?

    Please let me know how it goes!
    -Quicken Tyka
    ~~~***~~~
  • Bruce Dussault
    Bruce Dussault Member ✭✭
    Just getting back trying to resolve this issue. The credit card account was originally set up using standard "add Account" and express connect for downloading. This method does not prompt an option for currency selection and as such Quicken shows it as a CDN$ account. Somehow this has not been an issue when I download my transactions, including transfers from another US$ savings account. However, when I try to enter a transfer from the US$ Savings to the US$ Credit Card manually in the register Quicken tries to convert the amount to CDN$.
    I have set up a new account using the advanced options which allows me to select a currency. When I go to connect (Link) the account to the Bank for downloads the new US$ Credit Card account is not displayed as one of the options.

    Bewildered!
  • Quicken_Tyka
    Quicken_Tyka Alumni ✭✭✭✭
    Hello @Bruce Dussault

    Thank you for the response and the additional details. I have a few additional questions to help me isolate this issue further.

     What is the name of this fianciall institution? Is this a Canadian based financial institution? 

    It sounds as though the issue begins when the account is set up for transaction download. As if the financial institution is determining the currency for the account.

    Please let me know!

    -Quicken Tyka
    ~~~***~~~
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