Schwab Transactions

neil154 Member ✭✭✭✭
edited December 2022 in Investing (Windows)
I had 2 Schwab accounts that Quicken showed had multiple "new" transactions but in both accounts the transactions never occurred and do not show up on the Schwab web site.

In one of the accounts there were 16 downloaded transactions (recent dates) and everyone of them never occurred and do not show on Schwab web site


  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    Just to be clear, these transactions didn't occur in any Schwab Account in your data file? 
    The only thing to do here is to contact Official Quicken Support directly: then scroll down.  I think you should call them as there's no way this can be solved by "chat."
  • GreenOak
    GreenOak Member ✭✭
    I have this problem as well. The transactions seem to be related to the classification of cash to the sweep fund:
    Brokerage Sweep to Bank
    Bank Sweep to Brokerage
    Trf Fds to Type 1
    Bank Sweep Fr Brokerage
    Brokerage Sweep Fr Bank
    Trf Fds Frm Type 2
  • neil154
    neil154 Member ✭✭✭✭
    You mat be correct but I never made that association.  I giess the next time it occurs I will look for that.  I do have a money market fund in each of those accounts and have Quicken NOT treating it as cash.
    Do you have the same instructions, to not treat the fund as cash?

    PS:  I did notice that each fictional transaction that was positive, also had a transactions that was negative for the same amount.
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    On Sunday 12/18 one of my Schwab Accounts downloaded two transactions, most likely associated with a 12/15 payment of Schwab Bank interest:

    The transactions had no associated Category and were not reflected in the account's History at Schwab.  Oddly, another Schwab account that also has some Schwab Bank interest deposited into it did not get related downloads.  Just some more Schwab download hinkyness.

  • Ed Perry
    Ed Perry Member ✭✭
    Something is seriously broken between Quicken and Schwab. Here are three transactions that have no representation in the Schwab website. They showed up after a One-Step Update today. Further, the total market value (and Cash Balance) in Quicken shows $16,000 more than Schwab reports on their website. Quicken seemingly made these transactions up out of thin air. But it's Christmas Eve when I found this, so there is no point in seeking direct support for a few days.
  • neil154
    neil154 Member ✭✭✭✭
    Did you tell Quicken to treat them noney market fund as a stock?  Also, do you get a screen that shows there is a mismatch on the number of shares for the money market fund?
  • It seems like a lot of people need help with their Schwab connection (including me), with no end in sight at this point.
    Please, somebody figure this out so that we can back to business as usual.
  • Ed Perry
    Ed Perry Member ✭✭
    In my issue with a Schwab account, the account does not sweep into a money market fund. So no, I did not tell Quicken to treat them as a stock. The cash is held in Schwab Bank.
    No, I did not get a screen complaining about a mismatch following the "Accept All" downloaded transactions after the One Step Update.
  • Jody Wolfe
    Jody Wolfe Member
    Each day when I update Quicken it seems to leave off one or more Schwab accounts. My cash accounts that used to show up no longer do, so each day my schwab balance in quicken gets smaller and smaller. It does not reflect what is actually happening in my schwab account. At this point, it's not even worth using quicken as my balances are all wrong and I spend so much time figuring out the discrepancies that we started using spreadsheets again.
  • Every time I use One Step update the accounts update then the whole program stops and freezes and I have to force close it. It occurs because of Schwab. My accounts at Schwab do not update anymore and Investment values are not updating either. I thought I had this solved last year but it started again on January 5th. I am now updating manually. Not good. All other non Schwab accounts update fine.
  • neil154
    neil154 Member ✭✭✭✭
    My Schwab accounts are updating fine.  I sugest you delete the login info for schwab from the vault and then try to add it back in
  • I am getting a mis-match on the number of shares every time I do a purchased money fund transaction. The shares in Quicken are correct, but Q says that Schwab is reporting much fewer shares. This has been going on for a couple of months. This may be because I told Q to treat the money fund as cash in one of my accounts at about the same time I noticed the errors. Any way to reverse the decision to treat the money fund as cash?
  • jldavid47
    jldavid47 Member ✭✭✭
    Today for the first time I got bogus transactions downloaded from Schwab into Quicken. They are all duplicates of various transactions over the past 4 weeks with somewhat different security names. I have 4 accounts and 2 were affected: one had 6 bogus transactions and the other had 4. None of the transactions with those security names that were downloaded appear on my Schwab history on their website. The other two were unaffected for some reason. I checked to make sure they were truly duplicates then deleted each. I had far more than 10 transactions during that time so not every transaction made during that time came through as duplicated. Yet another Quicken bug...
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    The Mismatch in the Schwab Accounts for their money market fund has been going on for a while now.  I get that in all 8 of my Schwab Accounts, so I expect that having the money market fund in one of the Accounts treated as cash has nothing to to with the Mismatch problem.
    One way to be asked again about how you want the money market fund treated is to go through the re-authorization process with your Schwab Account(s).  That is, go through and disconnect all your Schwab Accounts from downloading.  The do Tools > Add Account and select Schwab as the financial institution, working through the process of reconnecting your Accounts. In each Account with the money fund in the Account you'll be asked how you want the MMF handled in Quicken.
    I'd certainly advise treating the MMF as a security as that matches the reality of the situation.
  • Brent
    Brent Member ✭✭
    I'm not having the MM issue - I treat them as securities - but sometime after I successfully downloaded 12/31/22 trx Quicken has stopped downloading Schwab transactions. I went into the account list, edited one of my accounts, deactivated Online Services, then reactivated. It went through the usual set of questions fine, including taking me to Schwab where I verified that all accounts are activated for download. Came back to Quicken and did the update again, no luck.

    Has anyone successfully solved this issue? Nothing changed since the last successful download.

  • JSEmso
    JSEmso Member
    The Schwab download-to-Quicken/update process is not working correctly. I have had ongoing difficulty with updating my Schwab accounts in Quicken since late 2022. Out of frustration, I FULLY DELETED my Schwab accounts in Quicken and then reestablished them in Quicken as if they were brand new accounts. Most of the transactions (but only for the last 3 months) downloaded into Quicken, but totally screwed up the cost basis of any investments. Last week I purchased an investment through Schwab that closed last week, BUT IT DOES NOT DOWNLOAD INTO QUICKEN. I've tried running the download process multiple times but the problem persists.
    I used to be able to depend on Quicken with few issues, but since the start of 2023 it has been one frustration after another. Does Quicken have any knowledge of this issue, and if so, when will they have it fixed?