scotiabank autosyncs in USD

Pankit
Pankit Member
When my account syncs from Scotiabank, the currency converts to USD automatically. Anyone else have experienced this? solution?
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Answers

  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    Are you using the US or Canadian version?

    For the US version it only connects/downloads in USD.  Your financial institution might have a foreign country presents/currency in the account, but the only reason it would be listed in the US version is if it is basically listed as a US financial institution using USD.  So in fact that "conversion" would be at the financial institution, not in Quicken.

    With the Canadian version it gets a bit more confusing of what would happen since it can actually download in different currencies.  But even in that case I would expect only USD and CAD to work right, and only if that is the currency used in the Quicken account.
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  • Pankit
    Pankit Member
    I am using Canadian version. Tried everything still not working. I dont know how to change setting for my bank account?
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    So I take it that it was suppose to download as CAD and instead it is downloading as USD.   I have read some Canadian US threads on such a problem and I take it that for some reason the QFX file/Express Web Connect data have the wrong currency in them and as such the account gets created with the wrong currency.  But I don't know how any of this is fixed.

    I'm going to flag this thread to the moderators so that it is at least put under the Quicken Canadian thread so that maybe someone using that Quicken can see it and respond.
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  • smayer97
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  • Simon Beck
    Simon Beck Member ✭✭
    I am using Quicken Home & Business (Quicken for Windows, Version: R33.7, Build: 27.1.33.7, Edition: Canada).

    I recently created a new Quicken file, adding all of my accounts by connecting to my Canadian financial institution. Note: All of the accounts I selected to be added use a Canadian Dollar currency.

    However, when Quicken finished adding the accounts, I found that only my credit card accounts were configured to use a Canadian Dollar currency - my Canadian checking and savings accounts were unexpectedly configured to use a U.S. Dollar currency?!

    After spending well over an hour working (unsuccessfully) with Quicken chat support to correct the problem, I resolved myself to just ignore the issue since my checking and savings account balances were correct (albeit in U.S. Dollars).

    It was only when Quicken prompted me with a Foreign Currency Transfer dialog to record a simple payment from my checking account to my credit card account that I felt the need to reach out to the Quicken community for help.

    How do I get Quicken to recognize the correct currency of my all-Canadian accounts added from my single Canadian financial institution?

    Thanks in advance!
  • Simon Beck
    Simon Beck Member ✭✭
    My issue seems to be a duplicate of this issue:

    https://community.quicken.com/discussion/7896990/scotiabank-autosyncs-in-usd
  • Simon Beck
    Simon Beck Member ✭✭
    Soooo, does the sound of crickets that I'm hearing indicate that Scotiabank customers with Canadian Dollar accounts may need to start looking for another financial software product?
  • Simon Beck
    Simon Beck Member ✭✭
    In the near future, will there be an update to Quicken Home & Business (Quicken for Windows, Version: R33.7, Build: 27.1.33.7, Edition: Canada) that will fix this issue?
  • capncodfish
    capncodfish Member ✭✭
    Same. But who's at fault? I don't know This could very well be Scotiabank's fault by not correctly setting the currency in the data. Reach out to Scotiabank. I'll be doing the same tomorrow.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    Same. But who's at fault? I don't know This could very well be Scotiabank's fault by not correctly setting the currency in the data. Reach out to Scotiabank. I'll be doing the same tomorrow.
    It should be easy enough to determine, look in the QFX file for what currency is in it.
    <CURDEF> is the field for this.
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  • capncodfish
    capncodfish Member ✭✭
    > @Chris_QPW said:
    > It should be easy enough to determine, look in the QFX file for what currency is in it.
    > <CURDEF> is the field for this.

    I would absolutely love to do that. Unfortunately, I only have a mortgage and LoC at SB and somehow those products have no transactions on them and so I don't actually have the option to download a QFX file from them. Yet, "something" comes through the "web connect". That's another reason I'm calling today. :smile:
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    @capncodfish When you setup "loan accounts" for downloading they are a completely different animal.  They use Express Web Connect, and they don't allow you to even see the transactions.

    The information might be in the logs somewhere, but I don't know where it would be.  Hopefully Quicken Support will be able to help you.
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  • capncodfish
    capncodfish Member ✭✭
    Scotiabank reps were essentially useless. Anyways...

    So, this is fun. I opened a (no fee) savings account and an export button magically appeared for that account. I downloaded a QFX file and <CURDEF> is correctly set to CAD. I then proceeded to do a web connect sync and the new account came in as USD. Wow.
  • jsammut
    jsammut Member
    I'm having the same issue. I feel like it's a Quicken issue more than a Scotiabank issue.

    My credit account are coming through properly but my chequings and savings account come through in USD
  • Simon Beck
    Simon Beck Member ✭✭
    Same. QFX files downloaded from Scotiabank for my chequing and savings accounts contain <CURDEF>CAD as expected (these accounts are Canadian currency accounts). However, for some reason, Quicken's Express Web Connect believes the account currency is USD. Its nice to know that that I am not the only one experiencing this issue. Does Quicken support monitor these discussions?
  • BigSpender69
    BigSpender69 Member ✭✭
    I had the same issue. Once the sync with Scotiabank went through, the accounts were still Canadian. Once it started syncing to the cloud, they changed to USD.

    I was able to resolve the issue by going to the bank and manually downloading into Quicken and it automatically converted the account back to CAD.
  • Joel_onca
    Joel_onca Member, Windows Beta, Canada Beta Beta
    In the near future, will there be an update to Quicken Home & Business (Quicken for Windows, Version: R33.7, Build: 27.1.33.7, Edition: Canada) that will fix this issue?
    This update does not fix the problem. I have this update and problem still occurs.
  • Joel_onca
    Joel_onca Member, Windows Beta, Canada Beta Beta
    According to Quicken Support the only solution is to create a new account, but I was able to correct the currency setting by using the solution provided at the link above. As soon as I ran Express Web Connect after re-linking the two involved accounts, they reverted to US$. My work-around is to not use EWC. Instead, I use the old Web Connect. It is a bit of nuisance, but all works correctly.
  • MoMoney99
    MoMoney99 Member ✭✭
    The support for Canadian financial institutions in Quicken is abysmal. How is it that the company who led the field in this area is falling behind its competitors. I can name a half dozen other providers who support nearly every Canadian financial institution without issue. Some apps even allow you to pick which aggregator you want to use to connect to your bank/F.I.

    Come on Quicken - please fix this!!
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    MoMoney99 said:
    The support for Canadian financial institutions in Quicken is abysmal. How is it that the company who led the field in this area is falling behind its competitors. I can name a half dozen other providers who support nearly every Canadian financial institution without issue. Some apps even allow you to pick which aggregator you want to use to connect to your bank/F.I.

    Come on Quicken - please fix this!!
    Quicken Inc is stuck with Intuit, which yes from what I see stinks, especially for supporting Canadian financial institutions.
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  • dp88514
    dp88514 Member
    I am having the same problem. In discussion with Quicken, they believe the problem is on Scotiabank's side. I do believe that the problem is there as well as my other accounts from Scotia are coming in the correct currency.

    In discussion with Scotia, they have no clue how to resolve this. They said they'd raise a ticket, but my guess is that someone made a code change to some report configuration and it will take ages for them to figure out the problem and fix it.

    It would be nice if there was a control in the Quicken software that would disallow a change in the currency field of the QFX file coming from the banks (e.g. if the bank does a change in an export report format that creates an error as seems to be the case here). The control is in place for users as we are unable to change the currency on the account even if we disconnect EWC. Now that my account is in USD all categorization of expenses is messed up.

    I saw one comment about using the old web connect command. I only see one way to connect, EWC or manual. Can someone explain how to connect in another way to Scotia?

    If manual, what have others done to migrate the transactions to another CAD account without inheriting the USD values?
  • Thank you all for this conversation, which has assured me that I am not insane, and saved me repeating what others have tried!
  • > @dp88514 said:
    > I am having the same problem. In discussion with Quicken, they believe the problem is on Scotiabank's side. I do believe that the problem is there as well as my other accounts from Scotia are coming in the correct currency.
    >
    > In discussion with Scotia, they have no clue how to resolve this. They said they'd raise a ticket, but my guess is that someone made a code change to some report configuration and it will take ages for them to figure out the problem and fix it.
    >
    > It would be nice if there was a control in the Quicken software that would disallow a change in the currency field of the QFX file coming from the banks (e.g. if the bank does a change in an export report format that creates an error as seems to be the case here). The control is in place for users as we are unable to change the currency on the account even if we disconnect EWC. Now that my account is in USD all categorization of expenses is messed up.
    >
    > I saw one comment about using the old web connect command. I only see one way to connect, EWC or manual. Can someone explain how to connect in another way to Scotia?
    >
    > If manual, what have others done to migrate the transactions to another CAD account without inheriting the USD values?

    @dp88514 , having just chosen the Quicken format and downloaded a file from my Scotiabank account, I was interested to see the file was named "pcbanking.qfx". I'm a newbie here, but the first thing I thought of was Loblaws PC Financial, at one time marketed, if memory serves, as PCBanking...

    Am I way off target here, or is it possible this is connected to an error at Scotiabank?
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    dp88514 said:
    I saw one comment about using the old web connect command. I only see one way to connect, EWC or manual. Can someone explain how to connect in another way to Scotia?

    If manual, what have others done to migrate the transactions to another CAD account without inheriting the USD values?
    There are three ways that Quicken imports transactions.  Direct Connect (which I don't believe any Canadian financial institution supports), Express Web Connect, and Web Connect.

    Web Connect is "manual" as in downloading a Web Connect .QFX file and importing it into Quicken.
    Express Web Connect is going through aggregator Intuit to try to log on to the financial institution's website as you and retrieve the transactions with "agreed upon method", and import that into Quicken.

    From what I know it is the Express Web Connect method that is broken/causing the currency of the account to change to USD.

    Web Connect is supposedly working fine.  The importing of a QFX file can be done in one of two ways.
    Opening the file in your web browser of Windows File Explorer should trigger Quicken to import it.  Or you can use File -> File Import -> Web Connect (.QFX) File..., browse and open the file, and it should import.

    There isn't any way to change the currency of an account once it is created.  So, the workaround would be to create a new offline account and then import the .QFX file with the transactions linking it to that new account.  If needed you might be able to move transactions from the other account, but I'm not sure about that because of the differences in currency.  Here is the procedure.
    FAQ: How Do I Move Transactions Between Quicken Accounts? — Quicken

    @dp88514 , having just chosen the Quicken format and downloaded a file from my Scotiabank account, I was interested to see the file was named "pcbanking.qfx". I'm a newbie here, but the first thing I thought of was Loblaws PC Financial, at one time marketed, if memory serves, as PCBanking...

    Am I way off target here, or is it possible this is connected to an error at Scotiabank?
    The name of the QFX file shouldn't matter, only what is inside it.
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  • Joel_onca
    Joel_onca Member, Windows Beta, Canada Beta Beta
    Chris_QPW said:
    dp88514 said:
    I saw one comment about using the old web connect command. I only see one way to connect, EWC or manual. Can someone explain how to connect in another way to Scotia?

    If manual, what have others done to migrate the transactions to another CAD account without inheriting the USD values?
    There are three ways that Quicken imports transactions.  Direct Connect (which I don't believe any Canadian financial institution supports), Express Web Connect, and Web Connect.

    Web Connect is "manual" as in downloading a Web Connect .QFX file and importing it into Quicken.
    Express Web Connect is going through aggregator Intuit to try to log on to the financial institution's website as you and retrieve the transactions with "agreed upon method", and import that into Quicken.

    From what I know it is the Express Web Connect method that is broken/causing the currency of the account to change to USD.

    Web Connect is supposedly working fine.  The importing of a QFX file can be done in one of two ways.
    Opening the file in your web browser of Windows File Explorer should trigger Quicken to import it.  Or you can use File -> File Import -> Web Connect (.QFX) File..., browse and open the file, and it should import.

    There isn't any way to change the currency of an account once it is created.  So, the workaround would be to create a new offline account and then import the .QFX file with the transactions linking it to that new account.  If needed you might be able to move transactions from the other account, but I'm not sure about that because of the differences in currency.  Here is the procedure.
    FAQ: How Do I Move Transactions Between Quicken Accounts? — Quicken

    @dp88514 , having just chosen the Quicken format and downloaded a file from my Scotiabank account, I was interested to see the file was named "pcbanking.qfx". I'm a newbie here, but the first thing I thought of was Loblaws PC Financial, at one time marketed, if memory serves, as PCBanking...

    Am I way off target here, or is it possible this is connected to an error at Scotiabank?
    The name of the QFX file shouldn't matter, only what is inside it.
    The currency of an account can be changed by using the error to correct itself. I have done it. You must be technically savvy and use a hack that was documented in another post. When I find it, I will post the link.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    edited December 2021
    Joel_onca said:

    The currency of an account can be changed by using the error to correct itself. I have done it. You must be technically savvy and use a hack that was documented in another post. When I find it, I will post the link.
    Your correct I should have said that it shouldn't be possible to change the currency of the account once it is created, but clearly with this bug it is possible.  But note I was talking about there isn't any way in Quicken to change the currency of the account once created.

    But yes, now that I think of it, it might be possible to use the bug to fix the account.
    I don't remember reading the workaround you mention, but my guess would be that they suggest using a QFX file where the currency is set to the one you want the account to have, and then import that.

    Note I can't test this since I don't have a Canadian version.  For the US version is the currency isn't USD it will just reject it completely.

    EDIT this workaround for changing the currency of the account has already been posted in this thread:
    See @smayer97 post near the top of this thread.
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  • Joel_onca
    Joel_onca Member, Windows Beta, Canada Beta Beta
    edited December 2021
    While the error may originate with Scotiabank, it is also an error by Quicken. When Quicken finds an unknown currency code in the QFX file, it defaults to US$ and CHANGES the currency setting even though that setting is supposed to be fixed. The program should report the error and either ignore the setting or abort the importation.

    The workaround given by Quicken is unacceptable. I have over ten years of data in my file and importation into a new file does not work because of an enormous number of transfers to other accounts. Quicken support can correct the problem by simply using a utility that executes the previously mentioned hack. 
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    @Joel_onca This is definitely a bug in Quicken, it certainly shouldn't behave this way.

    But note I'm not sure people would really love the proper fix.  The proper fix on Quicken's side would be to reject the data.  Of course, the full fix would be to get Scotiabank to send the right data (or if it is in fact an Intuit problem have them fix it).

    So far, I haven't seen any of the parties involved do anything on this problem, and it has been going on for years.
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  • Joel_onca
    Joel_onca Member, Windows Beta, Canada Beta Beta
    @Chris_QPW If Quicken rejected the file, I am sure that there will be sufficient pressure for either Quicken, Scotiabank, or both to fix the bug. As you said, it has been going on for years. It seems that Quicken doesn't care about its Canadian customers since it separated from Intuit. There has been far less updates in Canada than in the US.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    Joel_onca said:
    @Chris_QPW If Quicken rejected the file, I am sure that there will be sufficient pressure for either Quicken, Scotiabank, or both to fix the bug. As you said, it has been going on for years. It seems that Quicken doesn't care about its Canadian customers since it separated from Intuit. There has been far less updates in Canada than in the US.
    Even though do agree that Quicken Inc doesn't value their Canadian customers as much as their US ones (and shows it), you can't judge by the number of releases.

    In a way the Quicken Windows US users are the beta testers for Quicken Windows Canada.
    Yes, there are more US versions, but there are also whole lot more "hot fix patches" for the bugs that are being introduced.  When they get around to building/releasing for Quicken Windows Canada it does tend include all the US changes that are applicable to the Canadian version, and I would say even a bit more stable of a release.

    What I don't see is a lot "Canadian only" fixes, which I think is wrong.
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