Hi, why does it take so long for bank transactions to post to Quicken?

gumspringebd

It usually takes two days to download to Quicken. I also run Banktivity side by side with Quicken. That product usually takes just a few hours to download. Can you please help me?

Quicken Jade

Hi @gumspringebd, Quicken is unable to download transactions until they have cleared from your financial institution. If the charge is still pending it won't download in Quicken until it is posted. I hope this helps!

gumspringebd

Dear Quicken Jade, thank you for your quick response. I also use a personal financial product in addition to Quicken, just for fun called Banktivity8. Downloads are almost immediately with Banktivity8. Maybe Quicken doesn’t want to deal with pending transactions? I don’t know. I sure wish Quicken was faster. Than you again.

garysmith87

Banktivity may, in some cases, download pending transactions.  It depends on the Preference settings in Banktivity and the bank download policy.  Some banks will not send pending transactions regardless of whether you have the setting checked or not.  

Quicken does not have that feature. 

Here's the advantage of NOT downloading pending transactions:

1 Gas station credit card verifications of $1 do NOT get downloaded to Quicken...and then removed later when the full transaction goes through.

2 Restaurant charges without a tip added do NOT get downloaded to Quicken...and then changed later when the full transaction goes through.

If you require accounting that is current, you'll have to enter those transactions manually into Quicken and match them when they are eventually downloaded.

I can tell you that when pending transactions get accidentally downloaded into Quicken, there is a huge uproar from Quicken users...and in a very negative way.  Most users do NOT want that feature, as it makes your accounting inaccurate from many angles.  

Quicken Jade

Thank you @garysmith87 for your great explanation. Those are definitely some of the reasons we don't support the download of pending charges. I hope this provided some clarification @gumspringebd, thank you for participating in our community! 
-Quicken Jade

Quicken Jade

Hi @gumspringebd, Quicken is unable to download transactions until they have cleared from your financial institution. If the charge is still pending it won't download in Quicken until it is posted. I hope this helps!

gumspringebd

Dear Quicken Jade, thank you for your quick response. I also use a personal financial product in addition to Quicken, just for fun called Banktivity8. Downloads are almost immediately with Banktivity8. Maybe Quicken doesn’t want to deal with pending transactions? I don’t know. I sure wish Quicken was faster. Than you again.

garysmith87

Banktivity may, in some cases, download pending transactions.  It depends on the Preference settings in Banktivity and the bank download policy.  Some banks will not send pending transactions regardless of whether you have the setting checked or not.  

Quicken does not have that feature. 

Here's the advantage of NOT downloading pending transactions:

1 Gas station credit card verifications of $1 do NOT get downloaded to Quicken...and then removed later when the full transaction goes through.

2 Restaurant charges without a tip added do NOT get downloaded to Quicken...and then changed later when the full transaction goes through.

If you require accounting that is current, you'll have to enter those transactions manually into Quicken and match them when they are eventually downloaded.

I can tell you that when pending transactions get accidentally downloaded into Quicken, there is a huge uproar from Quicken users...and in a very negative way.  Most users do NOT want that feature, as it makes your accounting inaccurate from many angles.  

gumspringebd

Thank you for helping.

Quicken Jade

Thank you @garysmith87 for your great explanation. Those are definitely some of the reasons we don't support the download of pending charges. I hope this provided some clarification @gumspringebd, thank you for participating in our community! 
-Quicken Jade