How to change the name of Financial Institution on account ?

flyboy03051

I have several bank and brokerage accounts and one of the accounts has the wrong Financial Institution displayed for the account. I have displayed the account under the general tab and can see the wrong brokage name displayed. The field does not seem to be editable from the general tab as other fields I can edit freely. I have tried to deactivate the account and when I try set up the account again it automatically goes to the website of the brokerage that was displayed in the general tab (wrong company). I can't seem to around this problem.

Frankx

Hi @flyboy03051

You didn't indicate whether you have more than one account with Charles Schwab.  If you do - and you now want to change only one Charles Schwab account to Fidelity, I believe that you'll need to follow the steps below for all Charles Schwab accounts to fix the one account.

Please take the following steps (AFTER you've made a Backup of your existing Quicken datafile - just is case):

1. Open the "Account List" in Quicken (Tools > Account List OR Ctrl + A)
2. Click on the "Edit" button for each Charles Schwab account and then (in the Online Services tab) hit the  Deactivate button.  Do this for every Charles Schwab account that you have.
3. For each of the accounts that you need to change to Fidelity - click on the General tab and remove any info displayed in the Financial Institution, Account/Routing Number, and Customer ID fields. Note: The account(s) must be deactivated first before these fields can be edited.
4. Close the "Account List", and after that Close and then Re-Start the Quicken program.
5. Go to "Tools" > "Add Account" and search for and select  the correct "Fidelity" from the list (there are many institutions with Fidelity in the list), then hit "Next".
6. Follow the various prompts for information needed to "connect" and when you get to the page displaying the accounts found at Fidelity - "Match and LINK" your existing account(s) in Quicken to the appropriate account(s) displayed. Then click "Done".

Let me know how that goes and or if you have any followups.

Frankx

Boatnmaniac

Which brokerage does it show?

Which brokerage are you trying to connect to?

flyboy03051

The account in question displays "Charles Schwab & Co. Inc" When it should be a Fidelity account. The Financial Institution field does not have a box around Charles Schwab & Co indicating it not an editable field but other accounts do have a box around the field and will let me edit this same field.

Frankx

Hi @flyboy03051

You didn't indicate whether you have more than one account with Charles Schwab.  If you do - and you now want to change only one Charles Schwab account to Fidelity, I believe that you'll need to follow the steps below for all Charles Schwab accounts to fix the one account.

Please take the following steps (AFTER you've made a Backup of your existing Quicken datafile - just is case):

1. Open the "Account List" in Quicken (Tools > Account List OR Ctrl + A)
2. Click on the "Edit" button for each Charles Schwab account and then (in the Online Services tab) hit the  Deactivate button.  Do this for every Charles Schwab account that you have.
3. For each of the accounts that you need to change to Fidelity - click on the General tab and remove any info displayed in the Financial Institution, Account/Routing Number, and Customer ID fields. Note: The account(s) must be deactivated first before these fields can be edited.
4. Close the "Account List", and after that Close and then Re-Start the Quicken program.
5. Go to "Tools" > "Add Account" and search for and select  the correct "Fidelity" from the list (there are many institutions with Fidelity in the list), then hit "Next".
6. Follow the various prompts for information needed to "connect" and when you get to the page displaying the accounts found at Fidelity - "Match and LINK" your existing account(s) in Quicken to the appropriate account(s) displayed. Then click "Done".

Let me know how that goes and or if you have any followups.

Frankx

NotACPA

@flyboy03051,

Are you talking about the Account Name field?  You can change that by doing TOOLS, Account List, clicking EDIT adjacent to the account name and editing the Account name.

The "Financial Institution" name can't be changed because that indicates where the info is being downloaded from.  If it's incorrect, then you need to Deactivate the account from download and re-activate it with the correct brokerage (FI) info.

flyboy03051

Hello and thank you for your help !

Frankx, I deactivated all of my schwab accounts and then set them up again and they all seemed to work correctly now. Thanks Again