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Cannot connect with or import .OFX from UMCU

Using Home & Business, Version 6.3.3 on my macOS 11.5.2

Trying to update my University of Michigan Credit Union (UMCU) account, but cannot set up a (Setting ->) Download via "Connect Account" as UMCU is not listed and cannot (File ->) Import the UMCU files though it is an .OFX (VERSION:102). Attempts to import over the last couple of days generate "Download Unavailable! This FI is inactive, we cannot connect" and then, if I try again, “Quicken is unable to update this account because Web Connect support for your financial institution has been either temporarily, or permanently discontinued [CC-885]”.
Called Quicken and they say ".OFX is no longer supported".
Have used Quicken for a couple of years. No problems updating my investments, but lots on the banking side. TIA.

Best Answer

  • jacobs
    jacobs SuperUser, Mac Beta Beta
    Answer ✓
    OFX is a standard used to downloading data from financial institutions. Quicken uses a minor variation of OFX called QFX, which basically just adds an identifier for the financial institution near the beginning of a standard OFX file. Financial institutions must agree to work with Quicken; if they don't, there's nothing Quicken can or will do. So when Quicken is telling you the financial institution is inactive, and that support for the financial institution has been discontinued, it is explaining to you that your financial institution has chosen not to participate with Quicken.

    So you need to reach out to your credit union, try to get someone who knows about their online data connectivity, and ask why they aren't supporting Quicken. 
    Quicken Mac Subscription • Quicken user since 1993

Answers

  • jacobs
    jacobs SuperUser, Mac Beta Beta
    Answer ✓
    OFX is a standard used to downloading data from financial institutions. Quicken uses a minor variation of OFX called QFX, which basically just adds an identifier for the financial institution near the beginning of a standard OFX file. Financial institutions must agree to work with Quicken; if they don't, there's nothing Quicken can or will do. So when Quicken is telling you the financial institution is inactive, and that support for the financial institution has been discontinued, it is explaining to you that your financial institution has chosen not to participate with Quicken.

    So you need to reach out to your credit union, try to get someone who knows about their online data connectivity, and ask why they aren't supporting Quicken. 
    Quicken Mac Subscription • Quicken user since 1993
  • AT Wells
    AT Wells Member ✭✭
    Ty, jacobs! I understand that my CU does not seem to be permitting a direct connect, but my version of Quicken does state that it can import "OFX, QFX" files.
  • garysmith87
    garysmith87 Member ✭✭✭✭
    I'm curious...can you post a screenshot WHERE Quicken explicitly states it can import "OFX, QFX" files?

    I'd really like to see that, as I've searched all over Quicken and I can't seem to see that anywhere. 


  • jacobs
    jacobs SuperUser, Mac Beta Beta
    @AT Wells As I mentioned, OFX and QFX are basically the same, except for an ID number in QFX which identifies that the financial institution participates with Quicken (via their connectivity service provider, Intuit). There are apparently some financial institutions -- I think Apple Card from Goldman may be one -- which call the file OFX but nonetheless include the INTU.BID identifier, making it effectively a QFX file.

    Bottom line, if your financial institution chooses not to participate with Quicken, then you can't import a generic OFX file. If you are so inclined, you can Google INTU.BID and read about what the required syntax is, edit the file in a text editor, put in the number of a different participating institution, and trick Quicken into accepting the file. But I'd suggest with starting with your financial institution, and inquiring why they don't support Quicken downloads, and ask them to do so. Financial institutions have done so in the past based on feedback from customers asking for it. 
    Quicken Mac Subscription • Quicken user since 1993
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