Schwab bank accounts say "wrong password" but it's not...

For the past several days my 2 schwab bank accounts won't update and the update box keeps telling me I have the wrong password. I went in and tried to reset the account. I entered my user and PW manually and I tried using my password manager but I keep getting back a notice of wrong user or PW. At the same time it is downloading all the investment accounts with the same user and pw with NO problem. I also use the same PW manager to log into schwab online. How can I get the bank accounts to work?

Thank you
Pamela

Best Answers

  • Quicken Anja
    Quicken Anja Moderator mod
    Accepted Answer
    Thank you for trying those steps and providing an update!
    pamela77 said:
    1. I have many old inactive accounts at schwab - do I have to unhide all of them?
    2. Only the 2 checking accounts are causing a problem. There are several investment accounts that are downloading perfectly. Do I have to disconnect them as well?
    1. You only need to unhide the accounts if they still have an online connection set up with the same financial institution and use the same username and password as the accounts you are experiencing issues with.
    2. To clarify; are the checking accounts and investment accounts under the same username and password? Also, which financial institution name in the bank list are you choosing to set up the checking accounts with; "Charles Schwab & Co., Inc." or "Charles Schwab Bank, N.A."? The reason I ask is that usually "Charles Schwab & Co., Inc." is used for investment accounts, and "Charles Schwab Bank, N.A." is used for banking accounts (i.e.: checking, savings, etc).
    pamela77 said:
    the drop down menu would not allow me to choose "link" because it wanted to set up a new account. 
    Was the dropdown menu greyed out, or can you further elaborate on what was happening here?

    If possible, it may help if you could provide a screenshot of what you are seeing here. If needed, please refer to this Community FAQ for instructions on how to attach a screenshot. Alternatively, you can also drag and drop a screenshot to your response if you are not given the option to add attachments.

    pamela77 said:
    Should I allow keychain to save the PW's while in quicken?
    It is not a requirement to save passwords to Keychain in Quicken. However, if you choose not to, please be advised that you will be prompted to enter your financial institution password each time you perform an online account update. For this reason, we do recommend saving the password(s) to Keychain.
    -Quicken Anja
  • pamela77
    pamela77 Member ✭✭
    Accepted Answer
    Thank you Anja! I got it to work. Even though the "link"option was greyed out, the checking account itself was one of the options. Once I clicked on that the "link" option became possible. Thank you again!

Answers

  • Quicken Anja
    Quicken Anja Moderator mod
    Hello @pamela77,

    Thank you for reaching out to the Community and telling us about your issue, though I apologize that you are experiencing this.

    First, could you please provide which version of Quicken you currently have running?
    • Quicken > About Quicken
    To start with, I suggest deactivating the account(s) experiencing this error, removing the saved login credentials from the Keychain Access app, and then reactivating the accounts. However, before doing so, I do recommend that you save a backup of your data file first (just in case). Then, please check and make sure you do not have any hidden accounts that may be connected to this financial institution.
    1. Go to the Accounts menu and choose Hide and Show Accounts
    2. Uncheck any accounts with this specific financial institution that are checked as hidden in Lists
    After that, please follow the troubleshooting instructions provided below.
    1. Open the account register and navigate to the Settings gear on the bottom-right corner
    2. Click on the Downloads tab
    3. Click Disconnect Account (repeat steps 1 through 3 for each account)
    4. Quit Quicken
    5. Open Finder and navigate to Applications > Utilities > Keychain Access app
    6. On the left panel in the Keychain Access app, set the Keychains to Login and the Category to Passwords
    7. Search for the financial institution's name in the top-right search field and delete any entries found showing "Quicken password for [your financial institution username] at [financial institution name] "
    8. Quit the Keychain Access app and reopen Quicken
    9. Navigate to Accounts > New and choose the appropriate account type for the accounts that you previously deactivated 
    10. At the bottom of the window showing the list of the financial institutions, click on the "My bank is not listed" question mark icon, then click Update List
    11. Wait for the list to finish updating and Updated: " displays the current date.
    12. Click the Show List button to continue
    13. Use the search field at the top of the list to find and select your financial institution and click Continue
    14. Follow the prompts to sign in using your login credentials associated with the financial institution
    15. If the accounts have been found successfully; use the dropdown menus to link each account to the appropriate account set up in Quicken
    Let us know how it goes!
    -Quicken Anja
  • pamela77
    pamela77 Member ✭✭
    Thank you Anja,

    Thank you for that detailed answer - a few questions before I start this process..

    1. I have many old inactive accounts at schwab - do I have to unhide all of them?
    2. Only the 2 checking accounts are causing a problem. There are several investment accounts that are downloading perfectly. Do I have to disconnect them as well?
    Yesterday, I tried disconnecting one of the checking accounts. When I tried to re-activate it, Schwab found all the investment accounts for me to link, but not those 2 checking accounts.
  • pamela77
    pamela77 Member ✭✭
    OK Anja, I followed your directions, and I got as far as New accounts, found schwab, entered my credentials, and I found the 2 checking accounts BUT the drop down menu would not allow me to choose "link" because it wanted to set up a new account. Then I went back out, cleaned out keychain again, went back into quicken and tried to "connect" the existing accounts and schwab gave me the message same message as the past few days "wrong user name and PW.

    I am using quicken 6.2.1 on Catalina on a mac. Thank you for your help.
  • pamela77
    pamela77 Member ✭✭
    In addition to my question at 8:15 do I have to allow keychain to save the passwords in order for quicken to do automatic updates? In the little box, when you set up an account, there is a place to check "save in keychain". I am trying to use 1password to manage my passwords, so in general I have been telling keychain not to save passwords when I lot into things on safari. Should I allow keychain to save the PW's while in quicken?
  • Quicken Anja
    Quicken Anja Moderator mod
    Accepted Answer
    Thank you for trying those steps and providing an update!
    pamela77 said:
    1. I have many old inactive accounts at schwab - do I have to unhide all of them?
    2. Only the 2 checking accounts are causing a problem. There are several investment accounts that are downloading perfectly. Do I have to disconnect them as well?
    1. You only need to unhide the accounts if they still have an online connection set up with the same financial institution and use the same username and password as the accounts you are experiencing issues with.
    2. To clarify; are the checking accounts and investment accounts under the same username and password? Also, which financial institution name in the bank list are you choosing to set up the checking accounts with; "Charles Schwab & Co., Inc." or "Charles Schwab Bank, N.A."? The reason I ask is that usually "Charles Schwab & Co., Inc." is used for investment accounts, and "Charles Schwab Bank, N.A." is used for banking accounts (i.e.: checking, savings, etc).
    pamela77 said:
    the drop down menu would not allow me to choose "link" because it wanted to set up a new account. 
    Was the dropdown menu greyed out, or can you further elaborate on what was happening here?

    If possible, it may help if you could provide a screenshot of what you are seeing here. If needed, please refer to this Community FAQ for instructions on how to attach a screenshot. Alternatively, you can also drag and drop a screenshot to your response if you are not given the option to add attachments.

    pamela77 said:
    Should I allow keychain to save the PW's while in quicken?
    It is not a requirement to save passwords to Keychain in Quicken. However, if you choose not to, please be advised that you will be prompted to enter your financial institution password each time you perform an online account update. For this reason, we do recommend saving the password(s) to Keychain.
    -Quicken Anja
  • pamela77
    pamela77 Member ✭✭
    Accepted Answer
    Thank you Anja! I got it to work. Even though the "link"option was greyed out, the checking account itself was one of the options. Once I clicked on that the "link" option became possible. Thank you again!
  • Quicken Anja
    Quicken Anja Moderator mod
    edited June 9
    You're very welcome and thanks for the update! I'm glad to hear you got it to work. :)
    -Quicken Anja
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