Automatic funds transfers

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...

Best Answer

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Accepted Answer
    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


                           Quicken H&B-Subscription - Windows 10 Home - Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -

Answers

  • splasher
    splasher SuperUser ✭✭✭✭
    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?
    -splasher  using Q since 1996 -  Subscription  -  Win10
    -also older versions as needed for testing
    -Questions? Check out the  Quicken Windows FAQ list
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Accepted Answer
    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


                           Quicken H&B-Subscription - Windows 10 Home - Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -
  • snadboy
    snadboy Member
    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
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