Automatic funds transfers

snadboy

Is it possible to set up automatic recurring transfers between two accounts at the same bank (direct connect)? I am looking to have Quicken (windows) actually do the transfer, not just remind me...

Frankx

Hi @snadboy

You can setup transfers in Quicken which will cause the actual transactions to happen at the bank.  These are called "Online Transfers" in Quicken (which I suspect you already are aware of).

Unfortunately, you can't actually have Quicken make the transfers without your interaction in Quicken - i.e. your approving each transfer reminder in Quicken.  However, your bank may actually have a feature that let's you make such recurring transfers without your intervention, and those obviously will be downloaded into Quicken as they are made.

Frankx

splasher

My CU does that for me without any intervention of Quicken.  Having the financial institution do this puts the onus on them and not you or Quicken.

Whether or not you can do this in Quicken depends on whether your FI supports such a transaction.  Can you do it manually?

Frankx

Hi @snadboy

You can setup transfers in Quicken which will cause the actual transactions to happen at the bank.  These are called "Online Transfers" in Quicken (which I suspect you already are aware of).

Unfortunately, you can't actually have Quicken make the transfers without your interaction in Quicken - i.e. your approving each transfer reminder in Quicken.  However, your bank may actually have a feature that let's you make such recurring transfers without your intervention, and those obviously will be downloaded into Quicken as they are made.

Frankx

snadboy

Yes, I can do it manually from within Quicken, but cannot figure out how to do it on an automatic recurring basis. And yes, I understand my FI can do this, but that is not what I am looking for