Changing banks - want to merge info with existing data (20yrs worth) FAQ or how-to?

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I am changing banks after many years. I want to have the new data from new bank seamlessly merge with the data that is there now. I mainly use Quicken for checking and bill pay only. Is there a FAQ or how-to on this process?

Answers

  • UKR
    UKR SuperUser ✭✭✭✭✭
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    IMHO, there's no need to make a major move of transaction data. Leave your Quicken data file as is, with the old bank accounts still intact. Do not move data. Do not delete old accounts together with all their transactions. That will preserve your history.
    Just add your new bank accounts and start using them.
    Change your Scheduled Reminders to use the new bank accounts, too.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
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    I agree with @UKR but the one thing special I would do is use a transfer from the old account to the new account to close zero out the old account and setup the opening balance in the new account.
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  • bilbran
    bilbran Member
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    Thanks for the responses...
    Right UKR, not going to or want to move any data.
    The goal is to add the new bank, and keep all the old data.
    I did do a test with a copy of my quicken file, and the balance didn't seem right.
    If I transfer over all funds from old bank to new, it should register ok I would think.
    Funny I don't see a FAQ on this - people do change banks once in a while.
  • volvogirl
    volvogirl SuperUser ✭✭✭✭✭
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    You just add the new bank account. Very simple.  People change banks all the time.  Or setup a new CD or loan, etc.  Don't mess with your old bank account.  It will still be there so you can run reports or look up something.  Leave the old accounts in your data file.  You have 1 Data File with all your accounts, even the old accounts.  Just make a entry to Transfer the balance to the new account and it will zero out the old account balance.  You do what actually happens in the real world.  

    How did you test?  What balances were wrong?  

    I'm staying on Quicken 2013 Premier for Windows.