Does the Quicken "fix" now download from Schwab 30 days of data vs 18 months ?

USRsince96

I, like many others, have been waiting for a month for Quicken to resolve this download issue with Schwab. I receive 18 months of data duplicating over 600 transactions. Recently an email was received from the Quicken CEO apologizing for the poor customer service and flawed transition to the new Schwab method. That email did not fix the issue.

Sue MC

I am having a problem downloading to my Schwab account also. I get the message that transactions were downloaded, but they don't show up in my Quicken register.

maeagle

I have the same problem with transactions not showing on the screen. However, if I close Quicken and then reopen the transactions appear. Should not have to do this to see the transactions.

USRsince96

Improvement- downloads are working but errors occur due to how Schwab is sending the data and the way Quicken is parsing it. First, you must download the mondo patch from December. Originally troubleshooting in November I download patch 37.25 - That was updated in December to patch 37.37. Now the patch is 37.45, which I have read some users having difficulty downloading transactions from other brokerage firms and some credit and banks (not validated). I would load 37.37 if you can get it. Quicken is doing a supremely BAD effort to inform of us of patch updates. I checked for updates in the Quicken application and was not alerted to patch 37.x EVER. I had to search through support messages on how to fix the Schwab download issue to come across the latest "how to" and find mondo patch link which was updated from November when I last downloaded.

Step 1. So I use patch 37.37. I installed Quicken fresh, no issues doing that. You get version 36.45 - then install the mondo patch 37.37. Exit Quicken and re-open Quicken.

Step 2. Next, I turn off Synch to the cloud under edit>preferences>mobile

Step 3. Then I had to copy the data base to a new data base file, under a new name. This is not only for safety (so I can go back and use the old database to start over) but to dis-associate the database I open from any cloud synch that occurred under the old database. You might need to re-establish the mobile app synched data later, but that is part of the price we are paying for Quicken horrendous mishandling of this code change.

Step 4. Open the new database file and deactivate the Schwab accounts for Online by right clicking on the Schwab account(s) and select Edit/Delete Account, Or use the Account list under Tools and select Edit on the Schwab account(s). You get to the same screen either way. Once you deactivate, delete the name of the Financial Institution under the General tab for good measure, but leave the account number. Do this for all Schwab accounts.

Step 5. Use the tools menu and select Add Account. Follow the process selecting the Schwab icon and proceed. Be sure to include all the Schwab accounts. If you have a brokerage checking account, it is only accessible through the brokerage login. If you have a separate Schwab Bank checking or savings account, you might have to add these differently. Just be sure to include all the Schwab accounts that show up under you Schwab Brokerage that Schwab says are accessed through the Schwab Brokerage login.

Step 6. Make sure you Link the accounts found to the accounts you have established in Quicken when following step 5 above. I have had trouble with Linking if not following this process exactly. If you do not link the found accounts to the existing Quicken accounts in your database, new accounts will be established in the Quicken database.

Start over if things go wrong. You can always delete the new database, and synch files, and make fresh copies from the saved old database.

Step 7. Quicken should complete the process by downloading transactions. If you have security holdings, Quicken will prompt you for new or existing holdings. This is due to the way Schwab is sending the data and Quicken is parsing the data. A simple extra space in the security name that Quicken determined in the download triggers the name/symbol check. New if you bought securities since Nov 19th, or existing if the security name in Quicken is slightly different from previous, but ticker symbols are the same. Just watch the screens and make choices right for your data.

Step 8. You now need to go through the downloaded data and make changes. If you bought securities since Nov 19th, Quicken may not be able to add dividends under the names of the securities you purchased recently if the name Quicken grabbed did not match the previous name Quicken had captured in past downloads. During the download the name differences cause the download transactions to be captured as "unknown security". You will need to accept these transactions, get the real data from Schwab and go back to Quicken to edit the transactions. In some cases I found the download transaction to be bond buys on unknown securities and had to change to BUY and under the right security. I only had about 20 of these. I also found duplicate transactions downloaded (the correct one and bogus one) So be real careful about which downloaded transactions you accept, delete the ones that duplicate, and use the Schwab brokerage statements and history to set all transactions correctly.

At least Quicken is no longer downloading 18 months worth of data into the downloads section.

As more downloads occur, I suspect that there will be more "unknown security" errors because Quicken can only parse the data as Schwab delivers it.

Here is an example of a name mis-match that cause Quicken to not recognize the existing holding in the account.

(notice the extra spaces; Quicken sees the right ticker but the name is causing mishap)
Current name captured -> VANGUARD CONSUMER STAPLES ETF
Previous name Quicken recorded ->VANGUARD CONSUMER STAPLES ETF

Step 9. Go through each account and fix any errors. I found a few transactions created new holdings under this new name issue, where it I had to fix post downloaded transactions errors cleanup, setting the correct security name in the transaction.

USRsince96

BTW - The email from the CEO was useless. Please send emails that pertain to updates and fixes that solve the issues. No need to send apologies - we get it, Quicken made a mistake. Lessons learned. Now tell us what we need to do to fix it. - Thanks

swbliss

I updated Quicken today and yet I still cannot update my Schwab accounts

golfer

[Removed-Disruptive] This has been going on for about 2 weeks, & still nothing is resolved to my liking. I'll resort to opening another brokerage (Vanguard, Fidelity, T. Rowe Price) account [Removed-Disruptive]

USRsince96

I have read in other threads where other brokerages won't update properly. Not experienced that yet. Still updating and still seeing where "unknown securities" transactions are downloading properly. Dividend payments. The reason the transactions are "unknown securities" is that the name captured by Quicken is not exactly as was captured previously when I bought the security. An extra space or character in the parsing of the download and Quicken needs to be manually corrected. If you have used Quicken for sometime and have a number of holdings in your account, you will find the prompts to rename the security easy, but very annoying that this issue has to be dealt with in the first place. I do not see in any Quicken message where they acknowledge this issue with naming of securities in downloads but I really don't have time to support Quickens help desk or technical team. They need to grow up.

Quicken Alyssa

Hello all,

Thank you all for visiting the Community and continuing to update this discussion.

@swbliss, what issues specifically are you running into when trying to connect to Schwab?



Quicken Alyssa

Fatman985

I now find Quicken to be virtually useless as I can no longer connect with Schwab, cannot reauthorize or even enter a password through Quicken. I've got nothing to add given the number of similar issues raised by other users. As far as I am concerned, A subscription service is worthwhile only if it delivers and Quicken under new ownership clearly isn't delivering. I've been using Quicken since the 1990s and this is the first time I've lost confidence in it. Since Quicken has had plenty of time to resolve this issue I can only conclude that it is unable to do so.

Quicken Alyssa

@Fatman985,

Thank you for coming to the Community and adding to this discussion.

Please go to Help>Check for Updates. We are now on R37.37. Also please go to Tools>Account List>Show Hidden (bottom left corner). Check for any accounts still connected to the zzz instance of Schwab and disconnect them all.

Let us know if you are able to connect after this. If not we will take a deeper look, thanks!



Quicken Alyssa

USRsince96

Just checking in.

From the list of actions above...what I did to fix it.
1. Download Quicken and install it. The install will first uninstall your current version and install a fresh copy. No data files will be deleted or lost.
2. Update to mondo patch 37.37
3. Make a copy of the database file and save the original file in the event you need to roll back to the previous state of the database.
4. Open Quicken and point it at the new database file.
5. Deactivate the zzz Schwab accounts
6. Add new accounts, selecting Schwab in the process and linking the found accounts to the existing files in the database. Start over if linking found Schwab accounts to existing Schwab data files is wrong or not working.
7. A download of transactions will complete
8. Clean up the download transactions after using paper or online records because names of securities are not the same as before.

For the details in each step, read the previous post.

Finally.
Quicken needs to explain why the security names in the downloaded transactions is not the same as before. Is Quicken failing to parse the download info properly, or is Schwab changing the name of the security. Extra spaces in the security name is an example. Quicken needs to advise on how best to clean the downloads to ensure the previous data associated with a particular security does not get dis-associated.