Very unusual Schwab downloads 11/17/21. Associated with conversion to EWC+?

Tom Young
Tom Young SuperUser ✭✭✭✭✭
Yesterday's downloads from Schwab included ReinvDiv actions in all my Schwab Accounts for Schwab's purchased money market fund, Schwab Value Advantage.  This is the regular transaction associated with dividends reinvested in the the fund.
Today all my Accounts downloaded 4 transactions for Schwab Value Advantage:
  • Two ReinvDiv transactions, for the same dollar amounts as downloaded yesterday
  • One Sold transaction for that same dollar amount
  • One Div transaction posted as a negative dollar amount
Of course allowing these transactions into into the transaction list would result in incorrect accounting.
Does this have something to do (I expect it does) with tomorrow's changeover to EWC+?  If so it's an inauspicious start.

Comments

  • retird
    retird Member ✭✭✭
    edited November 17
    I had the same issue after installing "the patch" when it first came out. Was told to install immediately if I had Schwab accounts. Since then all future downloads went away and now I get "NO" downloads at all. The market moves daily and my account in Quicken is so out of date. I thought the "migration" of last night would fix this but it did not. Schwab "Escalation Department" is going to call me again on the 18th (after the migration is complete) to see if it fixed the issue. I have been working with Schwab Tech Support for several days now. Very involved and professional tech support by the way.... "inauspicious" is a very appropriate term I think..
    Windows 10 and Windows 11 (separate computers)..... Quicken Premier (latest update) 20+ year user
  • jl747
    jl747 SuperUser ✭✭✭✭✭
    @""Tom Young"
    Saw this too.
    So I logged in to my account and looked at my History.
    The posting there was similar as the download.

    I was still on Direct Connect.



    Quicken Windows Deluxe (Subscription) - R37.25 -Windows 10 Pro 21H2

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    I too installed the update immediately after receiving the notification but have had no problems downloading from Schwab, although Schwab now appeared in the One Step Update Summary as "zzCharles Schwab & Co., Inc.", as does today's One Step Update Summary.
    Tomorrow, if the migration happens, I'd expect to see simply "Charles Schwab & Co., Inc." in the OSU summary, with the download occurring via EWC+.
    68824    68824    68824    Charles Schwab & Co., Inc.    https://www.schwab.com/    866-855-9102    https://www.schwab.com/    ACTIVE                   BANKING,CREDIT,ACCOUNTINFO,INVESTMENT,401K&EXP-WEB-CONNECT    NOT_QBP    NA


  • jl747
    jl747 SuperUser ✭✭✭✭✭
    edited November 17
    This just happened to me.
    I deactivated my accounts and reactivated them.
    Guess what?
    It reactivated as Direct Connect. Strange.
    Maybe I did something wrong or they haven't gotten to my account for the switch.
    No zz's before the Schwab name.

    Quicken Windows Deluxe (Subscription) - R37.25 -Windows 10 Pro 21H2

  • retird
    retird Member ✭✭✭
    edited November 17
    > @Tom Young said:
    > @retird
    > I too installed the update immediately after receiving the notification but have had no problems downloading from Schwab, although Schwab now appeared in the One Step Update Summary as "zzCharles Schwab & Co., Inc.", as does today's One Step Update Summary.Tomorrow, if the migration happens, I'd expect to see simply "Charles Schwab & Co., Inc." in the OSU summary, with the download occurring via EWC+.68824    68824    68824    Charles Schwab & Co., Inc.    https://www.schwab.com/    866-855-9102    https://www.schwab.com/    ACTIVE                   BANKING,CREDIT,ACCOUNTINFO,INVESTMENT,401K&EXP-WEB-CONNECT    NOT_QBP    NA

    Mine already says Charles Schwab & Co. Inc and EWC+.... and has for a long time now... connects but NO downloads...
    Windows 10 and Windows 11 (separate computers)..... Quicken Premier (latest update) 20+ year user
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    Are you using Quicken on the Mac?  I think that for whatever reason the Macs have been on EWC+ for a few days.
  • retird
    retird Member ✭✭✭
    > @Tom Young said:
    > @retird
    > Are you using Quicken on the Mac?  I think that for whatever reason the Macs have been on EWC+ for a few days.

    Updated my SIG.... not using Mac
    Windows 10 and Windows 11 (separate computers)..... Quicken Premier (latest update) 20+ year user
  • DetroitRick
    DetroitRick Member ✭✭
    Tom: I received the exact same set of 4 transactions today. For every one of my accounts at Schwab. As did wife and other family members in their Schwab accounts. Probably the same for all customers holding that money market fund at Schwab. But these are not related to this conversion that I can see.

    Those same transactions show up in my transaction history on Schwab's website in the same way - not just in Quicken. In fact, as I'm typing this, I see another set from Schwab dated today (11/17).

    Actually, I was still on Direct Connect when they downloaded this morning. They were also in my downloaded transactions list AFTER I converted to EWC+ this afternoon. I'm not sure the purpose, but the easiest remedy is to delete the 4 new transactions (but not the originals dated 11/15). The new 4 will net to zero - both value, shares and cost. I was able to validate both shares, value and cost to the Schwab website balances before and after doing this deletion. If in doubt, backup first of course.

    Anyway, this sequence of transactions was only for SWVXX money fund. I've seen this before, too but can only guess as to why they are doing some type of internal reclassification (maybe related to holding period of pre-dividend shares, even in non-margin and/or retirement accounts???).
  • jl747
    jl747 SuperUser ✭✭✭✭✭
    Well even after deactivating, activating multiple times and updating to R37.25 still connecting using Direct Connect.
    But, the download from Schwab did post this.


    A "Remove" got posted.
    Quicken Windows Deluxe (Subscription) - R37.25 -Windows 10 Pro 21H2

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    Yes, these entries came into the file via Direct Connect, but the fact that the switchover to EWC+ is scheduled for tomorrow makes me suspicious that some "getting ready for EWC+" activities are the source of the problem since Schwab downloads via DC have been utterly reliable for years.
    Except for one Account I haven't let these entries into the transaction list since there very well be correcting entries coming down tomorrow.  In the one Account where the entries were accepted the total shares and reported income are incorrect.
  • DetroitRick
    DetroitRick Member ✭✭
    I see what you mean, based on your register posting - the double entry for $7.30 would throw off the balance. My equivalent set of 4 transactions (equivalent to those below your red line) were different then yours. Mine netted to zero, but I can see that yours do not. Either way, I can't really explain what Schwab was doing on 11/15 - 11/17. It does seem like an odd coincidence of dates with this migration.
  • Chris Schwark
    Chris Schwark Member ✭✭✭
    I finally got EWC+ to work and got 1757 transactions going back to April 2020.  This is utter madness.  A bunch of matches, but what I found odd is that I had a LOT of "new" ones that previously existed.   

    I think the mapping from Schwab data file to Quicken register is what's broken.  What I found out was that for reinvested dividends, where it used to create a line item with the action "ReinvLg", "ReinvSh", or "ReinvDiv", it now creates TWO line items, one of which is a "ReinvInt" which is blank (no dollars, no shares) and another line which is BOUGHT, which impacts my cash balance, making it incorrect.  

    This whole migration is a mess.