Thanksgiving and Schwab Errors Still Not Fixed

I've been trying all of the suggested tricks every few days get my Schwab accounts to update correctly, and none of them work. At one point I was able to connect to the Express Web Connect and link accounts, but still with 2 fatal issues - after deleting the 374 duplicate transactions downloaded to my brokerage account (one by one), my balances were way off; and Quicken would not update both my and my wife's Schwab profiles. I am also concerned about the 501 errors resulting in Quicken locking up and having to be force-quit by task manager - concerned about corruption of the file.

I am currently running Quicken with Schwab account downloads all deactivated. The file I am using had connected to Express Web Connect at some point, so the "General" account tab shows the new institution "Charles Schwab & Co., Inc" and account number. Online Services tab shows ""Set Up Now". Downloads of all other institutions is working. Attempting to set up Schwab still produces 501 error and freeze. Removing institution data does not help. I have tried every trick anyone has posted.

This has gone on so long that it will be virtually impossible to go back to a pre-changeover, pre Nov 15 backup if that is necessary when the Schwab issues are eventually solved. Yes, transactions will download, but specific information I have entered will be lost. Please don't ask me to print out my transaction registers...

Seems likely that reverting to Direct Connect would solve all the issues. It always worked flawlessly, as it always does. But one way or the other, we need a real fix. Schwab is a huge institution, and many Quicken users have their retirement plans and the majority of their wealth there. Quicken, please get this solved quickly, and users should be notified directly when a fix is available. 

Happy Thanksgiving!

Comments

  •  kronquick
    kronquick Member ✭✭
    Amen, brother...
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    In my opinion, all these issues are on Schwab.  They decided to terminate their support for their Direct Connect server to save money.  You may complain to them as much as you'd like but I suggest you consider moving your accounts to a financial institution that continues to support the Direct Connect connection method.
  • gooddog50
    gooddog50 Member ✭✭✭✭
    @Sherlock
    Curious minds want to inquire, how do you know they (Schwab) changed due to save money? Thanks in advance, 
    Quicken since Andrew Tobias "Managing Your Money" V-12 (DOS)
    Windows 10 Pro 64 Bit, Core i7 
    Quicken Premier Subscription
  • Joseph Witkin
    Joseph Witkin Member ✭✭✭
    Institutions pay Quicken to run direct connect; express web connect is something they run themselves. So just an assumption.
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    gooddog50 said:
    @Sherlock
    Curious minds want to inquire, how do you know they (Schwab) changed due to save money? Thanks in advance, 
    Financial institutions pay the cost to maintain a Direct Connect server which is why some financial institutions will charge their customers a fee for access to the server.  There is no cost to a financial institution for only supporting access using the unreliable Express Web Connect connection method unless their customers decide to move their accounts to another financial institution.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    In reality financial institutions pay Intuit, not Quicken Inc for Direct Connect.  Quicken Inc pays Intuit for their services, both the support of Direct Connect (providing the contracts with the financial institutions, support, and maintaining the URLs to contact the OFX servers), and of course for Express Web Connect services.

    On the financial institution side besides the contract cost of Direct Connect there is also maintaining an OFX server along with the support people that know about it.  Given that Charles Schwab is allowing 4+ aggregators to access their data probably with different kind so APIs (BTW Intuit's Mint would be one of these, that don't use Direct Connect).  So not only do they save in fees they save in only having to maintain one system for all that want access to their customer's data.
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  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    P.S. as for who is responsible for the problems, I would bet it is spread out between all three (in some ways 4 parties).
    1. Quicken the program (not being able to deactivate/delete transactions, or the "missing transactions") that R36.45 release notes talks about are clearly "Quicken program problems" (even though they might stem from errors upstream, and only be the "handling" of the errors).  If Quicken the program didn't have any part in this, they wouldn't have put out releases to fix things in this flow.
    2. QCS (Quicken Connection Services), which are the sync between Quicken and the Quicken cloud account data set (the same system used by sync to Mobile/Web).  Let's just say I don't trust this process and as such I would bet it is error free.
    3. Intuit servers.  The belief that Intuit would implement the new API error free, doesn't line up with their past performance.
    4. Financial Institution.  At a minimum they are the responsible party for denying access to some accounts that people are complaining about.  These are the View Only, POA, and other accounts administrated/viewed by parties other than the original customer.
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  • Joseph Witkin
    Joseph Witkin Member ✭✭✭
    Thank you for clarifying, Chris.

    At this point, I don't undertand why Schwab can't see the dismay of its customers and just go back to the system that was working - at least temporarily; as you outlined, it will take fixes in quite a few different locations to get the new system to update smoothly.
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