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Direct Connect support seems to be ending with several banks

Jmccrae

Quicken has now ended Direct Connect for two of my banks, Chase and Bank of America. In both cases they are trying to get me to enroll in Quicken Bill Pay, Free for a while, then $9.99/mo. At first I thought it was a Chase thing, but now I suspect it’s a quicken thing to make more $$$. I’m guessing they’ll add Wells Fargo next. What goes!!

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Comments

S. Weber

Yes, I would like to know if the plan is to discontinue direct connect eventually for ALL financial institutions, or just certain ones. If only certain ones, which ones will remain? I haven't been happy with BofA for a good while, and am ready to change banks, but only want one that will allow Direct Connect (and all its current features) with Quicken. Can we get a list of those banks somewhere?

walterruck25

[Removed - Speculation] This is not going to stop at BofA and Chase. [Removed - Speculation] I’ll be looking for a new service.

Rocket J Squirrel

Quicken would rather keep us on Direct Connect. All these transitions to Express Web Connect+ are a big pain for them. You can see the list of financial institutions which are pushing the change here:

https://financialdataexchange.org/FDX/FDX/The-Consortium/Members.aspx

Seems unlikely any FIs will continue to support DC for long. But it's not Quicken's fault.

unknown

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Chris_QPW

S. Weber said:

Yes, I would like to know if the plan is to discontinue direct connect eventually for ALL financial institutions, or just certain ones. If only certain ones, which ones will remain? I haven't been happy with BofA for a good while, and am ready to change banks, but only want one that will allow Direct Connect (and all its current features) with Quicken. Can we get a list of those banks somewhere?

I think we would all love to know what is going to happen in the future, but that isn't the way the world works. No one really knows what is going to happen, and as such Quicken Inc isn't going to speculate on what will happen. Note that Quicken Inc doesn't make these kinds of decisions, the financial institutions do.

Personally I'm not nearly as confident as @Rocket J Squirrel is that Direct Connect will all go away. What I have seen of the financial institutions is that they never all agree on anything. If they had standardized on Direct Connect all those years ago we wouldn't have nearly as much problems with downloading transactions and paying bills and such. But they didn't.

Here is the list of financial institution's Quicken Windows supports.
https://ofx-prod-filist.intuit.com/qw2800/data/fidir.txt

For Direct Connect "banking" you are looking for entries like: BANKING,ACCOUNTINFO&DIRECT
Here is what it looks like if they have bill pay too: ACCOUNTINFO,BANKING,PAYMENT&DIRECT

Note though Direct Connect isn't a magic bullet that ensures that the financial institution will be error free, some of them can mess that up too. But probably even more important is that you might not be happy with their services just as a bank.

Ps56k2

Jmccrae said: Quicken has now ended Direct Connect for two of my banks, Chase and Bank of America.

just to clarify - it's the BANKS that have chosen to terminate support for the Direct Connect protocol - NOT Quicken -