Chase payees being abbreviated and renamed

Joe4369

When will this disaster with Chase be fixed? My transactions are being downloaded into quicken and payees are being abbreviated for now reason, to the point that I can't tell what some of them are. I have to go into my chase account and copy/paste the payee names into quicken. This kinda defeats the purpose of automatically downloading the transactions. I've about had it and ready to get rid of quicken and chase. I've spent way too much time time trying to keep my finances up to date with all the manual work I have to do. I started by cancelling my auto-renew. If this isn't fixed soon, I'm done. Are quicken customers now supposed to be beta testers to help report bugs to fix this mess? It would be easier to use excel at this point.

Chris_QPW

Check your renaming rules.  I have banking, credit, and investment accounts at Chase using Express Web Connect + and none of my payees have changed since changing over from Direct Connect.  Note the one thing I don’t use is a debit card, I don’t think it will be different, but I will throw that out just in case.

Joe4369

I have no renaming rules. I turned them off long ago and this just started happening. I haven't made any changes to anything. For example, I recently went on a trip to Disney World. I have a transaction on my statement that says, "WDW Disney Resorts" and in quicken is just says, "Disney". I don't have any rules that would rename that. I also found that quicken does not recognize a payment made from checking to a chase credit card. It used to automatically assign the account number for the credit card in the checking register. Now, I have to manually link them and it creates duplicate payment entries on the credit card accounts.

UKR

Joe4369 said:

I have no renaming rules. I turned them off long ago and this just started happening. I haven't made any changes to anything. For example, I recently went on a trip to Disney World. I have a transaction on my statement that says, "WDW Disney Resorts" and in quicken is just says, "Disney". I don't have any rules that would rename that. I also found that quicken does not recognize a payment made from checking to a chase credit card. It used to automatically assign the account number for the credit card in the checking register. Now, I have to manually link them and it creates duplicate payment entries on the credit card accounts.

Thanks for the examples.

In Edit / Preferences / Downloaded Transactions, do you have "Automatically apply Quicken's suggested name to payee" enabled? If so, try turning it off. That might help with payee names.
For situations where the download contains too much detail, e.g., "POS TRANS 070119 STARBU", "POS TRANS 070219 STARBU", "POS TRANS 070319 STARBU" a Renaming Rule would help standardize the Payee Name to just "Starbucks"

In Edit / Preferences / Transfer detection, do you have "Scan downloaded transactions for possible transfers" enabled? If so, try enabling the radio button at "Confirm possible transfers before entering in register".

For recurring transfers, IMHO, it's best if you use a Scheduled Reminder to record your credit card payments into your register BEFORE you download transactions from either checking or credit card account containing transfers. When a properly coded matched pair of transfer transactions already exists, you take the guesswork out of Quicken and the download will be matched to what's in the register already.

Joe4369

Thanks for the feedback @UKR. The automatically apply suggested name of payee has been off for several years and I confirmed it is still off. The transfer detection was on and set to Automatically create transfers. I can try Confirm possible transfers but it has always worked fine with my current settings.

Chris_QPW

Automatic transfer detection is a guess, based on the amounts and if the dates are close.  I don't believe it is based on the payee at all, but they have also changed the matching recently so that might have some effect on this.

Or another possibility is that you have been relying on the bill pay/transfer features of Direct Connect, which is now gone.  With Direct Connect one could schedule a bill payment or a transfer by entering it into Quicken and it would be synced to Chase.  What's more if one scheduled a bill payment on Chase's bill payment webpage that would be synced back to Quicken.  With a transaction actually already in Quicken, then it would be Quicken's matching not automatic transfer detection that is being used.

Note that automatic transfer detection doesn't kick in until after both of the transactions (both sides of a transfer) are downloading into the register.  When using automatic transaction entry mode this happens during the download. With it off and using the Downloaded Transactions tab, it doesn't kick in until after you accept all the transactions into the register (and it has to be the one that has the "second side" of the transfer).

What account types are these renaming problems happening in?

I seldom have any transactions in my checking account, and they are almost always pre-entered manually or with a reminder, but I have frequent transactions in my Chase credit cards and don't see this.

Also, if you turn on the Downloaded payee field what do you see there?

Joe4369

@UKR, I didn't know about that column. When I turn it on, it shows all the payee names I want. The only problem is that I can't manually rename (like for a check transaction to rename it from CHECK # 1234 to the actual payee). Is there a way to have it use the Downloaded Payees as the Payee?

Chris_QPW

Joe4369 said:

@UKR, I didn't know about that column. When I turn it on, it shows all the payee names I want. The only problem is that I can't manually rename (like for a check transaction to rename it from CHECK # 1234 to the actual payee). Is there a way to have it use the Downloaded Payees as the Payee?

The Downloaded Payee field is what was downloaded from the financial institution.  The fact that your payee is different from that field implies that it has been renamed.  That is exactly why we asked for you to look at your renaming rules and the option for Quicken to use its suggested payee name.  Other than you manually changing the payee's name, those should be the only ways that a payee name is changed.  Are you sure you have looked at Tools -> Renaming Rules and there aren't any?

If that is correct, then I would ask if you are using Sync to Mobile/Web?
There might be some bug in using that feature that could change payee names.

Other than that, I would run Validate & Repair on the data file to see if it finds anything.

As for renaming checks, the payee's name isn't known and as such can never be renamed automatically.
That is why it is suggested that all checks get pre-entered at the time you write them and then they will get matching to the downloaded transaction.

I also have these settings, renaming rule:


Memorized Payee:


Which ensures that it a check doesn't get automatically categorized by mistake.

Joe4369

@Chris_QPW I did not have any renaming rules, nor was I using sync to mobile. The only box I had checked in prefs was "Capitalize first letter only in downloaded payee names". I unchecked that and ran the validate and repair. It found an invalid transaction and a damaged scheduled reminder. It also removed 89 qel records. After that, the payees came in unchanged. Thanks for your help!

Chris_QPW

@Joe4369 that is great that you got it fixed. Thanks for letting us know what fixed it.