Scheduled 'Bill Pay' transactions from Bank of America no longer post in Quicken

Jimi B

Prior to re-validating my connection to Bank of America, all scheduled 'Bill Pay' transactions were posted to my Quicken account so I could view future scheduled payments. A popup on Quicken recently requested that I 're-validate' my accounts from Bank of America. I did this, and subsequently lost the ability for my Quicken application to receive these scheduled 'Bill Pay' transactions from Bank of America. Does anyone know a solution for me to get this capability back?

Chris_QPW

You can't get back.
https://www.quicken.com/support/managing-bank-bill-pay-and-transfers-after-direct-connect-discontinuation

Chris_QPW

TaylorTexas said:

Is it only Bank of America? 

It is any financial institution that decides to drop Direct Connect. For instance, Chase did this just before Bank of America did.

One has to understand a few things to grasp the full extent of this.

When Direct Connect was introduced only about 4,000 financial institutions adopted it, out of more than 35,000 financial institutions in the US alone.  Over the years that has dropped to less than 2,000.  But that isn't even the whole story for support for bill pay through the financial institutions.  Only a very small percentage of the original 4,000 financial institutions implemented bill pay through Direct Connect, and only had downloading of transactions.  And of those good portion of them charged a monthly fee for Direct Connect and bill pay through it.  And lots people moved to other financial institutions that would provide that for free.

So, what about all those other financial institutions?
That is why Express Web Connect was created.  It is Intuit's form of aggregation.  Other forms of aggregation are like Mint, and what most of the financial institution's use for showing other financial institution's data on their websites.

These aggregators have never had "two way/bill payment/transfers" built into them.  And they didn't even have a standard protocol for the aggregators to connect to the financial institutions.  Note that Express Web Connect + at least has a standardized protocol between Intuit and the financial institution.

Bottom line is, yes there are still financial institutions out their that have Direct Connect with bill payment through Quicken, but they are going down fast as the financial institution have decided they don't like the risks involved or the costs.

Here is a URL to the current financial institution list:
https://ofx-prod-filist.intuit.com/qw2800/data/fidir.txt

You are looking for a entry with this one the line: PAYMENT&DIRECT

Chris_QPW

You can't get back.
https://www.quicken.com/support/managing-bank-bill-pay-and-transfers-after-direct-connect-discontinuation

tinamc

This happened to me too. I am so very frustrated about this.

tinamc

So according to the article above posted by chris_QPW, I will now have to manage payments in both Quicken and BofA. If I decide to make a change, I have to remember to change in both. This is ridiculous!!

Tom Young

@tinamc

Just remember to vent your frustrations in the proper direction.  The change in downloading method was initiated by BofA, not Quicken, and they did it to save themselves money, (the Direct Connect method requires BofA to pay a fee to Quicken), at the cost of convenience to you.

TaylorTexas

I just went to pay a bill, and the "send" option is removed on my account! Unbelievable! Is it only Bank of America? When I looked it up on my Quicken online account it prompted me to sign up for the Quicken Bill Pay service at $40/mo or something ridiculous. So now I must go up to the Bank of America website and pay the bills manually I suppose. Why is Quicken charging Bank of America so much that it refuses to pay thus making it inconvenient for Quicken users who bank there?

Quicken keeps getting worse. They haven't updated the software really since 1995. The online version sucks (no reports). Why am I paying $150 per year for a product that keeps getting worse? I've looked at alternatives, but unfortunately there aren't any out there compare to the desktop version. That might be changing now.

Chris_QPW

TaylorTexas said:

Is it only Bank of America? 

It is any financial institution that decides to drop Direct Connect. For instance, Chase did this just before Bank of America did.

One has to understand a few things to grasp the full extent of this.

When Direct Connect was introduced only about 4,000 financial institutions adopted it, out of more than 35,000 financial institutions in the US alone.  Over the years that has dropped to less than 2,000.  But that isn't even the whole story for support for bill pay through the financial institutions.  Only a very small percentage of the original 4,000 financial institutions implemented bill pay through Direct Connect, and only had downloading of transactions.  And of those good portion of them charged a monthly fee for Direct Connect and bill pay through it.  And lots people moved to other financial institutions that would provide that for free.

So, what about all those other financial institutions?
That is why Express Web Connect was created.  It is Intuit's form of aggregation.  Other forms of aggregation are like Mint, and what most of the financial institution's use for showing other financial institution's data on their websites.

These aggregators have never had "two way/bill payment/transfers" built into them.  And they didn't even have a standard protocol for the aggregators to connect to the financial institutions.  Note that Express Web Connect + at least has a standardized protocol between Intuit and the financial institution.

Bottom line is, yes there are still financial institutions out their that have Direct Connect with bill payment through Quicken, but they are going down fast as the financial institution have decided they don't like the risks involved or the costs.

Here is a URL to the current financial institution list:
https://ofx-prod-filist.intuit.com/qw2800/data/fidir.txt

You are looking for a entry with this one the line: PAYMENT&DIRECT