Bank of America EWC - Scheduled payments via Bank

Jgou

Contrary to many, I have always used BofA website or mobile app to schedule by bill payments.

I understand the new EWC interface syncs only past cleared transactions.

[Removed - Disruptive] - Quicken was my way to forecast my balances..

if EWC is going to be used, please allow it to download past and future bank scheduled transactions.

Chris_QPW

The protocol in Express Web Connect + doesn't allow for syncing the scheduled payments from the financial institution, only Direct Connect can do that.

As such if you want to make predictions you will have to either put in manual reminders or manual entries into Quicken.

raa0428

Yeah, I could have dealt with not being able to send my Bank of America payments via Quicken, but the fact that the payments I now enter directly into Bank of America do not update is a real pain. This is a real downgrade.

UKR

raa0428 said:

Yeah, I could have dealt with not being able to send my Bank of America payments via Quicken, but the fact that the payments I now enter directly into Bank of America do not update is a real pain. This is a real downgrade.

You just need to "double-track" it:

1. Enter your payment at the bank's website.
2. In parallel to that, enter a transaction or use a Scheduled Reminder to record that payment in Quicken. This will make balance forecasting available again.
   

After the payment has been executed at the bank, you will receive a confirmation transaction in your next download which can/should be merged with the already existing register transaction.

Fred Rock

"Just" double-track it...LOL why oh why should we have to duplicate every transaction? This product is supposed to simplify our finances, not make them more cumbersome.

UKR

Fred Rock said:

"Just" double-track it...LOL why oh why should we have to duplicate every transaction? This product is supposed to simplify our finances, not make them more cumbersome.

It's, of course, entirely up to you how you use Quicken.
If you want to be able to use all features and functions of Quicken, then a little manual labor of love will go a long way.

If, OTOH, you expect Quicken to run on Autopilot, doing all the work for you, you may be disappointed. Just like a certain car manufacturer's Autopilot function is far from perfect, so is Quicken on Autopilot. You may find yourself in the ditch, with less than desirable results.

It's the banks who are demanding all these changes and who you should blame. Their primary interest is in security from hackers and saving money on software, hardware and personnel expenses. Customer satisfaction only comes in further down their list of priorities.

Chris_QPW

UKR said:

Fred Rock said:

"Just" double-track it...LOL why oh why should we have to duplicate every transaction? This product is supposed to simplify our finances, not make them more cumbersome.

Their primary interest is in security from hackers and saving money on software, hardware and personnel expenses. Customer satisfaction only comes in further down their list of priorities.

I wouldn't really say that I would say, "Quicken user customer satisfaction only comes in further down their list of priorities."

I suspect that customer satisfaction is higher than "some of the expenses".  After all, if all their customers are dissatisfied, they won't have any customers.  But Quicken users forget that they are a very small subset of these financial institution's customers.  And the financial institutions have in fact spent lots of money on creating tools for their customers.  Their bill paying system being one such expenses, and their mobile apps being another.

So, why should they incur expenses and security risks for a small minority of their users?
What's more it seems to me that it is in their best interest not have customers that use a program like Quicken that allows a user to switch financial institutions without losing their historical data.