Salem Five Bank Direct Connect integration

RickO
RickO SuperUser, Mac Beta Beta
This post is in the category of "kudos" in case it's helpful to anyone else. I'm in the process of changing over from a local bank to Salem Five Bank for my checking/savings accounts. I am really impressed with how tight Salem's free Direct Connect integration with Quicken performs. A couple of examples:
  1. When I put in an intra-bank transfer from savings to checking, it is reflected on the bank's website immediately after connecting. On the very next connection a minute later, the transaction is reflected in Quicken as cleared. No waiting for an overnight update cycle. The funds are available in the destination account immediately.
  2. I just paid a bill using D/C Bank Bill Pay. I realized a few minutes later that I wanted it paid a few days after the date I transmitted from Quicken. When I tried to change the date in Quicken, it told me, of course, that I must cancel and re-send the transaction. However, the scheduled payment was reflected on Salem's website immediately. I edited the date on the website. When I came back to Quicken and did an update a minute later, the new date was reflected immediately in Quicken.
  3. Side note: all of the Bank Bill Pay payees that I had set up in Quicken from the former bank still work. I did not need to set them up again.
This is all much better than the D/C performance of my previous bank and I suspect better than most. 

Quicken Mac Subscription; Quicken Mac user since the early 90s
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