Schwab accounts still not updating, Quicken Customer Service says problem is fixed

GeezerGeek

I successfully set up the new download authentication for Schwab accounts and downloaded a bunch of redundant transactions. Since that time, I have not been able to download a single transaction to Quicken. I have reinstalled Quicken twice, applied the mondo patch, refreshed the Branding and Profile in the Online Center, Reset the accounts, deactivated & reactivated the online credentials, but nothing foxed the problem with the transaction download.

I started trying to fix this problem on November 18 and had my last call with Quicken Customer Support this morning on November 24. After some time looking at my setup, observing the download problem, and consulting with some off line sources, I was told that the fix for the problem was posted on https://www.quicken.com/support/charles-schwab-transaction-download-changes or that I could wait for the patch to be issued. I followed the instructions on that page, reinstalling Quicken and reverting back to version R36.45. Even after all of that, I am still not getting transaction download from Schwab.

Anybody else got any suggestions on how to fix this? I looked through all of the discussions on this site I could find but could not find anything that I had not already tried. Some of the discussions about the problem that Google found have apparently been deleted so that is the reason that I felt I needed to start a new discussion Thanks!

Ronald L Doyle

you sound like you're at the same place I am. I did trades in three of my schwab accounts and only two downloaded. Plus I got a report that I had a long list of security discrepancies. My confidence level is very low

jdpetrucelli

I'm new in the "Quicken Community". Does Windows10 vs Windows11 have any bearing in all this? I'm running 11.

GeezerGeek

Don't know if Win 11 has any bearing. I'm also running 11.

RonD

I'm in much the same situation. I've spent over 4 hours on the phone with Quicken Support and finally the third rep I spoke with suggested I watch this forum for a possible answer. My checking account refuses to download the running balance, claiming I have zero in the account.

nmccollu

I made a template backup (which doesn't include any online setup), reinstalled Quicken, re-opened the backup template file, then set up all my online connections including Schwab. Everything seems to be working except one of six Schwab accounts. I have no idea why some work and some don't. I have used both the Mondo patch and release 36.45. At the moment I have disabled all Schwab connections and will wait for the dust to settle. What a fiasco.

twmartinv

I'm sure my comment will be taken down as a rant or not relevant, but I feel obligated to point out to the powers that be at Schwab and Quicken that this problem resulted from changes originally made in the name of enhanced/improved security. In my years of using Quicken with Schwab, I have *never* experienced a hack that has caused me as much heartache as had occurred as a result of this "enhanced/improved" security change. Judging from comments on the message board, others would agree.

How hard is it to bring past behavior forward intact, strip off the old security shell, and wrap a new shell around it, to provide the enhanced/improved security while preserving all past behavior????

Murali Narayanan

Yes - looks like the issue is fixed. I could reauthorize all my schwab accounts. But I had to deal with duplicate transactions once for each account - in my case about 800+ transactions. After download, i selected one "new" transaction at a time and then do an edit -> delete -> ok. I had to repeat this for each of the 800+ transactions. Here are steps I went thru:

1. Deactivate all the schwab accounts
2. deleted the Financial Institution and account number for all the schwab accounts (account list -> account details)
3. For each account, i clicked on Tools -> Add new account -> charles schwab & co., Inc and started the reauthorization process.
4. Linked the account to the account in quicken.
5. deleted the duplicated transactions

YMMV but hope this helps. Note that step 2 is super important. 

retird

GeezerGeek said:

Don't know if Win 11 has any bearing. I'm also running 11.

I have Quicken on a Win10 computer and Quicken on a Win11 computer.  Same issue on both... just FYI.

GeezerGeek

r > @"Murali Narayanan" said:
> Yes - looks like the issue is fixed. I could reauthorize all my schwab accounts. But I had to deal with duplicate transactions once for each account - in my case about 800+ transactions. After download, i selected one "new" transaction at a time and then do an edit -> delete -> ok. I had to repeat this for each of the 800+ transactions. Here are steps I went thru:
>
> 1. Deactivate all the schwab accounts
> 2. deleted the Financial Institution and account number for all the schwab accounts (account list -> account details)
> 3. For each account, i clicked on Tools -> Add new account -> charles schwab & co., Inc and started the reauthorization process.
> 4. Linked the account to the account in quicken.
> 5. deleted the duplicated transactions
>
> YMMV but hope this helps. Note that step 2 is super important. 

Murali Narayanan - It's good to hear that it does work for some people but apparently not for all. I've done all five steps that you outlined three times without success. One of those times was under the watchful eye of Quicken Customer Support. In addition to the steps you outlined, I also uninstalled and installed Quicken twice and applied the mondo patch. Consider yourself fortunate.

GeezerGeek

During this upgrade, Schwab also made a change in how they handle accounts with limited power of attorney (LPOA). Schwab LPOA allows someone to have visibility to another person's account and to execute trades in the account but does not allow them to move funds into or out of the account. Previously, if you had LPOA, you could download transactions with Quicken from the LPOA accounts but LPOA accounts are no longer accessible under the new "enhanced" access.

Schwab argued that they were enhancing security for the accounts but that argument is null and void because downloading transactions on a LPOA only gives you visibility to the account, which you already have on the website if you have LPOA.

In fact, the new access degrades security because now to download LPOA accounts, you have to have access to the user ID and password of the LPOA accounts. I have LPOA over my wife's accounts but previously I did not need to know her Schwab credentials because I could download her account information under my credentials. With the new access, I have to setup her credentials in Quicken so now I have to know her credentials. Requiring more people to know other peoples credentials does not enhance security.

Murali Narayanan

GeezerGeek said:

During this upgrade, Schwab also made a change in how they handle accounts with limited power of attorney (LPOA). Schwab LPOA allows someone to have visibility to another person's account and to execute trades in the account but does not allow them to move funds into or out of the account. Previously, if you had LPOA, you could download transactions with Quicken from the LPOA accounts but LPOA accounts are no longer accessible under the new "enhanced" access.

Schwab argued that they were enhancing security for the accounts but that argument is null and void because downloading transactions on a LPOA only gives you visibility to the account, which you already have on the website if you have LPOA.

In fact, the new access degrades security because now to download LPOA accounts, you have to have access to the user ID and password of the LPOA accounts. I have LPOA over my wife's accounts but previously I did not need to know her Schwab credentials because I could download her account information under my credentials. With the new access, I have to setup her credentials in Quicken so now I have to know her credentials. Requiring more people to know other peoples credentials does not enhance security.

I had to use my credentials to authorize my IRA and taxable joint accounts and use my wife's to authorize her IRA accounts. Once setup, One step update works fine. Previously, there are just 2 entries for Schwab under One Step Update - one for all brokerage accounts and one for the bank checking account. With the new setup, One Step update shows 5 entries.

You may want to try one more thing. Go to Schwab website -> Services -> Security Center. Delink Quicken under third party access and then start the authorization process. Worth a try.

I did the One Step Update 5 times and the update worked flawlessly with no more duplicates.

thecreator

Hi All,

For those who are having problems connecting to Charles Schwab, make sure you have authorized third party access for Quicken, before doing anything else.

Next, for Users that can;t access Schwab, still, Create a Brand New Quicken-invest file. Now add account. Choose Charles Schwab & Co. and follow the onscreen prompts from within Add Account Screen.

I just tried it and it works just fine, R 36.45. New Quicken File.

I believe while it doesn't for existing accounts, the File may have been running on Quicken 2014 program or older.

GeezerGeek

In response to a suggestion Murali Narayanan made, I decided to deactivate and activate my Schwab accounts one more time. I was going to deactivate the third party account access on the Schwab site as Murali suggested but after his note with that suggestion was deleted from this discussion, I just checked the Schwab site setting without deactivating the third party access.
Yesterday, after reactivating access, the new transactions in the accounts downloaded without the redundant transactions older transactions. However, I expected that the newest translations would download since that had happened during previous reactivations. The test would be whether or not future transactions would download during updates.
This morning transactions downloaded for my Schwab checking account and the Update Summary listed the Schwab accounts in the list of accounts updated. The Schwab accounts were previously not showing up on the Update Summary even though they were activated for download and Checked on the Update Setting list.
Bottom line is that the problem appears to be fixed, at least for me anyway. Hopefully others that have continued to have problems will get similar results with just one more reactivation.
I know that insanity has been defined as "doing the same thing over and over and expecting different results" but in this case, a little bit of insanity helped.

Murali Narayanan

GeezerGeek said:

In response to a suggestion Murali Narayanan made, I decided to deactivate and activate my Schwab accounts one more time. I was going to deactivate the third party account access on the Schwab site as Murali suggested but after his note with that suggestion was deleted from this discussion, I just checked the Schwab site setting without deactivating the third party access.
Yesterday, after reactivating access, the new transactions in the accounts downloaded without the redundant transactions older transactions. However, I expected that the newest translations would download since that had happened during previous reactivations. The test would be whether or not future transactions would download during updates.
This morning transactions downloaded for my Schwab checking account and the Update Summary listed the Schwab accounts in the list of accounts updated. The Schwab accounts were previously not showing up on the Update Summary even though they were activated for download and Checked on the Update Setting list.
Bottom line is that the problem appears to be fixed, at least for me anyway. Hopefully others that have continued to have problems will get similar results with just one more reactivation.
I know that insanity has been defined as "doing the same thing over and over and expecting different results" but in this case, a little bit of insanity helped.

Today, I made 3 transactions on 2 schwab accounts. when I downloaded, it connected and displayed that the transactions are being processed but at the end, I didnt see any downloaded transactions. No red flags next to the accounts as well. Time to call customer service.

GeezerGeek

Well I said that the problem appeared to be fixed but now I'm not so sure. I haven't had any new transactions in any of the accounts so I'm not certain, but the online balances is missing in the register for the checking account and is listed as N/A in the Online Center for all of the accounts. Is that just a glitch in the new connection or are the accounts not connecting anymore? Should know for certain in a few days when new account transactions will be available. The last Update Summary says the accounts were updated.

GeezerGeek

Just noticed a Quicken Community announcement: "NEW 11/24/21 Charles Schwab Checking Account Missing Online Balance". Maybe it is just a glitch that Quicken Support is aware of.