Bank of America 2factor Auth and pending transactions

KerouacHotel Unconfirmed, Member
I'm starting to get thoroughly annoyed. Coming over from [Removed - 3rd-Party Product] because its bill tracking is lacking, but having weird issues thus far.

1) Every time I try to update my accounts BoA requires 2 factor authentication. The "premium" support [Removed - Speculation/Disruptive] informed me that BoA requires 2-factor auth each time per their policy.

This can't be true as I do now, and have for 6 months gone into [Removed - 3rd-Party Product] every single day, only did 2 factor once at the beginning, and have all my info fine. This only happens here on Quicken.

This is a fix-it or cancel issue. Can't do that enter the text code every time I want to see my transactions.

2) Quicken does not show my pending transactions. It only shows them once they full post. "Premium" support told me this is by design. Is that true? Again, I can see them in [Removed - 3rd-Party Product]. I can't imagine anyone would prefer this, so I'm asking how to fix it, and if it can't be fixed is there some reason that's a good thing?

I'm not the best accountant, I tend to just spend how I want and count on things being fine so my knowledge in this area is pretty scant. But for instance, went to dinner last night and ended up spending ~$800, and would for sure usually like to track that spend in real-time rather than waiting until it's finalized.

In short, I'm shocked but to date, Quicken seems far less effective than [Removed - 3rd-Party Product], and I'm hoping that's my lack of understanding here.



  • jacobs
    jacobs SuperUser, Mac Beta Beta
    I can't answer all your questions, but I can address a few points…

    First, the "premium" support you refer to is "regular" support; in fact, there is only one Quicken Support. If you purchased Quicken Premier, the "premium" feature you got was a special phone number which puts you at the top of the phone support queue; it's not different or better support, koi just get through with less of a wait. 

    Regarding pending transactions, it is correct that Quicken does not show pending transactions. Pending transactions are authorizations only until the credit card company posts them. Some authorizations post for the same amount, some post for a different amount, and some never post because the transaction wasn't completed. For instance, for your restaurant charge yesterday, the authorization amount is usually the total of the bill but doesn't include any tip you added, so the transaction amount will be different when it posts. If you have an authorization which simply expires (for example, if you check into a hotel and they pre-authorize $500 on your card), the company would need to transmit the expiration to Quicken so it deletes the transaction. (If you auto-reconcile your account in Quicken, that would require Quicken to delete a reconciled transaction, something you normally wouldn't want.)

    Many credit card companies, when you log into their site, will show your balance as being the total of just your posted transactions, but your available credit will be your credit limit minus posted and pending transactions. So if Quicken included pending transactions, your balance in Quicken would never match the financial institution's balance if it doesn't include pending transactions.

    That all said, I've read some rumblings that a way of handling pending transactions may be coming to Quicken Windows in the near future. I don't know if that is speculation by users or verified information. If it is accurate, then I would assume something similar would be coming to Quicken Mac at some point a little down the road. 

    Sorry, I can't answer your 2FA question with BoA; hopefully some other BoA users will chime in on that.
    Quicken Mac Subscription • Quicken user since 1993
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