Schwab One Step Update - doesn't download same day transactions any longer?

M2AZ

Before the Schwab migration (November 2021) when I did trades or deposits, etc., within seconds I could do the Quicken one step update and import the new transactions into Quicken. Post the Schwab migration, new transactions that are posted in Schwab are not downloaded to Quicken until the following day. It seems that Quicken is not downloading same day transactions until the next day for Schwab accounts.

NotACPA

Because Schwab abandoned "Direct Connect" in favor of "Express Web Connect" ... which has an inherent delay built into the design.

ENTIRELY Schwab's decision.

NotACPA

Because Schwab abandoned "Direct Connect" in favor of "Express Web Connect" ... which has an inherent delay built into the design.

ENTIRELY Schwab's decision.

M2AZ

Thanks for the helpful explanation.

Paul Schraff

In the latest update, Quicken does not reflect the CORRECT posting date of transactions AT THE BANK, (e.g. Barclays bank) which prevents Quicken from accurately reconciling month end transactions with the bank's month end statement. Instead, Quicken won't reconcile that statement unless you use the first of the month for the statement date, even though it is actually dated the last day of the prior month. In reality, the ACTUAL date of posting makes a difference, particularly for such things as tax cutoff dates. The posting date is the date the bank posted it, no matter when or how Quicken found or downloaded it. Quicken cannot shift that date without fouling any use of Quicken's reports for tax purposes.

STEVEN WEINBERG

Seems the delay is more than a day sometimes. I have transaction from yesterday, and after update, says "Holdings update as of 12/12/2021 at 8pm" That is two days ago as this is the 14. Believe the reason they went to Web connect is that allows them to use a server that is totally disconnected from the operational systems, thus cannot use the download software to hack into their systems and steal customer information, etc.

M2AZ

I talked to IT at Schwab, and they said the data is available in nearly "real time" for download (within a few seconds). Quicken, why wasn't all of this tested before you forced the migration to the new syncing service? I continue to see new active posts with all the ongoing issues syncing with Schwab, so this is a big ongoing issue. Quicken, as a subscriber, we should get a credit each month until this is resolved.

imdcareys

@M2AZ I am seeing the same thing. I just got reconnected again today, and yesterday's transactions did not download - so not real time for me just yet.

David7172

Same problem here. Schwab accounts used to immediately show up when doing a Quicken update. Not sure how delayed it is but it is hours or days now. Also, CD price updates are still not updating as they used to; I tried unmatching and rematching each CD. That worked for one day. Now broken again. It was nice to get the email from Quicken's CEO apologizing for all the problems arising from the Schwab conversion. I hope he is still reading about the issues - which are the worst and most numerous in my 25+ years as a Quicken customer.

rickatie

Same here.. Seems that all trades and dividends are delayed till next day. Previously came across in real time when I made trades. Seems like we are going backwards instead of forward in this quicken product. What gives?

M2AZ

CEO email? I haven't received that. Do you have a copy you can post by chance? I agree about this is the worst I have ever experienced with Quicken in 20+ years myself. I have already started looking at alternatives to Quicken. This is unacceptable to me.

imdcareys

M2AZ said:

CEO email? I haven't received that. Do you have a copy you can post by chance?

Here it is: Copy of Letter from Quicken CEO 12-3-2021 (Schwab Issue and etc.) — Quicken