Scheduled Bills No Longer Download - TD Bank

KCT

For about 2-3 weeks, ever since an update 2 updates ago bills scheduled to pay at a future date through TD bank no longer pass from the bank to my quicken register when updating. This leads to never knowing how much money is in my checking account because there are outstanding payments that don't appear in the register.

Mark1104

@KCT - does TDBANK use EWC+ as the connection method? (look in the checking account register and just underneath the name of the account it will indicate the connection type).  based on your response, I think I can explain

KCT

It says express web connect

KCT

> @Mark1104 said:
> @KCT - does TDBANK use EWC+ as the connection method? (look in the checking account register and just underneath the name of the account it will indicate the connection type).  based on your response, I think I can explain

KCT

It says express web connect

Mark1104

@KCT - is there a "+" after the words express web connect? 

KCT

There isn’t a +

Mark1104

@KCT - call Quicken Support on Monday.....

KCT

Thanks

mshiggins

Neither EWC nor EWC+ will download scheduled payment instructions. If TD Bank offers Direct Connect (DC), you should switch to DC.  DC is the only method that can download scheduled payment instructions.

KCT

Thanks

KCT

I’ll ask if TD bank offers direct connect, if not guess I’ll cancel my quicken account because without the ability to download scheduled transactions I have no idea what my account balance is, no different then the banks bill pay. Also can’t accurately reconcile register and bank account.

mshiggins

An alternative to downloading scheduled payment instructions is to use Reminders.  It takes a bit of up front work to set up Reminders, but once the Reminders are created, it is easy to see how they payments will impact your account balance by using the Show Reminders in Register feature.

I would avoid the online biller functionality as it is less flexible and still has a long way to go to be reliable at getting bill amounts. 

KCT

Reminders only work for regularly scheduled payments. This issue seems to be effecting many users and their banks, more widespread than 1 bank or a small group of users. Quicken should work to resolve the issue with the banks since it seriously devalues the quicken program.

KCT

Why are all the banks switching from direct connect to express web connect?

Mark1104

@KCT - it is a more secure method.  Banks are no longer 'crazy' with all the financial aggregators approaching their servers to grab transactional data, nor how the userid and password are handed off along the way.  So they've enhanced the security of how the technology works.  In fact, with EWC+, I don't even put in my password for the bank's website anymore, it's handled another way.

Further, it appears the Banks are only permitting actual transactional data and not future transactions; Billpay, by definition is a future transaction. Lastly, the technology is 'one way', so if you are using Quicken Bill pay, you can not longer 'upload' to the Bank's website. 

I imagine this is really stressing Quicken, because a lot of the benefit of Quicken is synching with the Bank.

As far as Billpay itself goes, I am a beleiver it is a fading dinasour in any event.  I used to use it 3-4 times oer month and am now down to once per quarter (or less).  SInce so many billers accept credit / debit cards at their website, auto-debit, etc, there is less need to use Billpay.  Among the younger crowd, they are all about credit cards, debit cards, auto-debit, Zelle, Venmo, Paypal, etc.   they are not going to use BillPay (or write checks).

KCT

I’m certainly not younger but most companies these days charge a fee to use a credit card. The main reason for being able to use a quicken register and account for paid but not yet cleared transactions is so I have enough money to pay what I owe without being overdrawn or overextended which is what happens to my Children who use credit and debit cards and have no knowledge of there balances.

Mark1104

@kct - it is surprising how many billers do NOT charge a fee for using a credit card and then of course I get 1.5% back from the credit card company..... 

if all you are using quicken for is to maintain the checking account balance, then going back to the paper register is probably a better option.