Version R42.19 (HF1) (July, 2022)

John24

In the Update Information Window you have the following about R42.19

What’s Fixed
· Several minor fixes to downloads related to discontinuing OFX.

Is Quicken going to drop support for importing QFX files?

I have a couple of accounts that do not support any other methods and one of them is a HIGH VALUE Investment account

Quicken Anja

Hello @John24 & @308Tom,

Thank you for reaching out to the Community with your concern.

The discontinuation of OFX you are referencing is referring to Direct Connect. Web Connect (QFX) downloads will continue to be supported.

I hope this clarifies things! Thank you.

Quicken Anja

@John yes, the manual method you are referring to will continue to be supported. For clarification on my previous response; the official term for this manual download method is "Web Connect (QFX)".

I hope this helps!

308Tom

Same here - big deal if it goes away.

Quicken Anja

Hello @John24 & @308Tom,

Thank you for reaching out to the Community with your concern.

The discontinuation of OFX you are referencing is referring to Direct Connect. Web Connect (QFX) downloads will continue to be supported.

I hope this clarifies things! Thank you.

John24

My question is around the download and import of a QFX file. One of my financial institutions does not support any kind of web or direct connect and I have to log into the institution and manually download a QFX file then import it into Quicken. Is the manual method still going to be supported??

Quicken Anja

@John yes, the manual method you are referring to will continue to be supported. For clarification on my previous response; the official term for this manual download method is "Web Connect (QFX)".

I hope this helps!

Amo1

Hello @Quicken Anja.  I have been using Direct Connect to pay bills, manage transfers, etc. through Quicken for over 20 years. Why is this functionality going away, and what should those of us do that have used Direct Connect? 

John24

Thank you Anja, Yes, this does clear it up.

Quicken Anja

Hello @Amo1,

Thank you for reaching out and adding to this discussion.

Direct Connect is being phased out one financial institution at a time. Chase is the current bank that is being phased out and moved to Express Web Connect+ (EWC+).

Before any financial institution gets phased out from Direct Connect and transitions to EWC+, notices/announcements, as well as instructions, will be sent out to customers who bank with these institutions. Until then, you can continue to use Direct Connect as usual.

I hope this helps!

Amo1

Thank you for your prompt response @Quicken Anja.  However, I must now ask, why are you phasing out Direct Connect?   Does Express Web Connect work in the same fashion, so one can pay bills and transfer $ from within Quicken, and this functionality is simply replacing Direct Connect?

Boatnmaniac

@Amo1 - Point of clarification.  This thread regards the transition of DC to EWC+, not DC to EWC. 

DC uses the OFX format for transmitting data.  It is my understanding that Financial Institutions (FIs) are moving to using a newer FDX format which EWC+ supports because supposedly FDX offers the FIs improved data security and reduced costs.  And changing support from DC to EWC+ will also provide the FI additional cost reduction. 

It is my understanding that at this time it is the FIs that are making the decision about if and when to transition from DC to EWC+.  I am not sure how much Quicken or Intuit (the aggregator) might be influencing that decision.

EWC+ cannot support the Bank Bill Pay and internal bank account transfer features that we enjoy with DC...at least not at this time.  These features require 2-way communications between Quicken and the FI (send commands to the bank, receive data back from the bank) and DC supports that.  But EWC+ is a 1-way communication (only receives data back from the FI, cannot send commands to the FI).  So, if and when our banks decide to migrate from DC to EWC+ we will no longer be able to perform Bank Bill Pay and internal bank account transfers from within Quicken.  We will, instead, need to log into our online account at the bank and perform those functions there.  Another option would be to use Quicken's Bill Manager to pay bills.