Schwab reauthorization problem; Quicken adding new account
edited December 2021 in Download, Add/Update Accounts (Windows)
This relates to the Schwab/Quicken reauthorization issue: After deactivating my Schwab investment accounts in Quicken, my re-activating them resulted in Quicken adding new accounts, which have the latest transactions. I just want one Quicken account for each Schwab account - not two. My old Quicken accounts have years of transactions. Since I can't get Quicken to update transactions in my old Quicken accounts, I considered bulk copying the transactions from the old accounts to the new accounts, but I learned that can't be done for investment accounts. I'm considering deleting the new accounts and trying again to activate downloads from Schwab, this time renaming my old accounts to the names Quicken used for the new accounts. Another solution seems to be suggested by a Quicken Support post, in listing activation steps: "A browser window will open and prompt you to log in to Charles Schwab with your Charles Schwab credentials. A list of the Charles Schwab accounts available for download in Quicken will appear. Select all of these accounts and LINK them to your existing accounts in Quicken." How do I "LINK them to my existing account"? That might solve my problem. I would appreciate help; I've spent many hours on this; I'm ready to start looking for new financial software. Thanks. WCa
I finally got it to work. I tried several different approaches I read about on this support page. I went back and deleted the new accounts that Quicken created. I deactivated online connections to all my Schwab accounts, even a checking account linked to one investment account. I removed from each account the name of the financial institution. Then I activated all the Schwab accounts at once using the "Add Account" menu item, instead of through the "edit" button on the "account list" menu item. This did not seem appropriate to me (because I wasn't adding an account), but this was recommended on this Quicken forum. Here's the quote:
"To start with, if you haven't already, could you please try connecting and linking through Add Account instead (not through Set Up Now)? To connect through Add Account, navigate to Tools > Add Account..., search for your Financial Institution name and follow the prompts to connect. Once your account(s) have been found, see if the dropdown menu will now allow you to choose Link - to existing Quicken account (see example below)."
Using this "Add Account" procedure eventually led me back to a Quicken screen where I could choose to link each of the Schwab accounts to the appropriate account in my Quicken data. I think you have to do all your Schwab accounts at once; because I had tried earlier with just one and it didn't work. Anyway, it update my "old" Quicken accounts, and now I'm overjoyed with the result, but I've lost 2 days of my life figuring this out. I guess I'll stick with Quicken software for now. :)0
@WCa Yes "adding" the account is key. When updating you should then see "Downloaded XXXX transactions" - even though you may not see any downloaded transactions - it apparently auto-matches them and discards them.
Beware that you might get a CC-901 error the next day where you have to re-authorize your accounts. In my case this seemed to work and I didn't have to deactivate and add the accounts again. But what about tomorrow?0