Unable to add Wealthfront cash accounts

System

This discussion was created from comments split from: cash in separate account.

KQ

Hello folks. I saw this while researching details regarding my Wealthfront CASH Account. The issue -  Quicken only has Wealthfront set up as an Investment FI.

The database has not been updated to include the Wealthfront Cash Accounts, which is totally separate from the investments.

Wealthfront offers Wealthfront Cash, with a debit card, etc. as described here.... https://www.wealthfront.com/cash

Would someone please check and find out what needs to happen to in order to download transactions into Quicken.

This is not a new situation... I've had a Cash Account since August 2019 and have made several inquiries with Quicken - and the issue is still unresolved.

Any feedback with updated information would be GREATLY appreciated!

Ps56k2

Well... this is the Quicken entry -
As you can see - the entry has "investment" as the only downloading account type.
You can try a test - and manually download the transactions from the Wealthfront website,
and open the file with Notepad and review the information downloaded.
Not sure what you are expecting....
as a Wealthfront DEBIT card would look more like a BANKING transaction,
which as you can see it not supported in this entry.

17260    17260    17260    Wealthfront Inc.    https://www.wealthfront.com/    (844) 995-8437    https://www.wealthfront.com/    ACTIVE        
INVESTMENT&WEB-CONNECT        
INVESTMENT&EXP-WEB-CONNECT  

KQ

I don't see how doing a test would help. As we both agree, the Wealthfront CASH Account should appear as a BANKING transaction. 

The question becomes - what needs to happen for Quickens file to include Wealthfront CASH (BANKING) in addition to the INVESTMENT setup. 

Hope that clarifies the issue....

Boatnmaniac

(deleted this post...redundant)

Boatnmaniac

KQ said:

The question becomes - what needs to happen for Quickens file to include Wealthfront CASH (BANKING) in addition to the INVESTMENT setup. 

The modus operandi when there is a desire to change the level of Quicken support is that the Financial Institution (in this case, Wealthfront) needs to modify their contract with Quicken.  Quicken will not do anything unless and until Wealthfront requests this change since the current contract apparently does not require including banking.

If you want Wealthfront to support banking transactions in Quicken then you should probably be requesting them to take appropriate action.  The more customers of theirs who request it the more likely that Wealthfront will contact Quicken.  But it could take a while (if ever) because every additional level of service costs the FI more money and it can take time for the FI to get on board with that.

Ps56k2

KQ said: I don't see how doing a test would help.

just trying to show you - if the data is NOT there - then Quicken desktop software can't really do anything about it.

BTW - what exactly are you a "beta" user for ?

Lastly... there are 4 different types of downloading transactions - and 3 types of downloading protocols.
Each one has a cost to the financial company, and they contract with Quicken for which of the 4 types of data, and 3 types of protocols will be supported within the Quicken software for that specific company.... No payment - no support -

[Deleted User]

I also have the Wealthfront Cash Account. You can export data for Quicken using the client portal [1]. I was surprised to see that it represents the account as an investment account at first, but there are two important points:

• Investment accounts can have a cash balance, and they can contain banking transactions — exactly like those in a banking account. They are not limited to investment transactions and positions in securities.
• By editing the account options and selecting "Show cash in a checking account", the banking transactions and cash balance will no longer appear as part of the investment account; they will show up in a new checking account instead, which is what you want here.

This is the same way cash accounts at other institutions work in Quicken — including Fidelity's Cash Management Account, Edward Jones's Income Manager Account, etc.


[1] There are still issues using Express Web Connect to download the data automatically, but I explained this at length with Tier 2 support, and they are now investigating.