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Can't Connect Quicken to Schwab Bank

dpsid2

I have an unlinked checking account at Schwab Bank that I'm trying to connect to Quicken, but in the process, the only choice for financial institute that I'm given is for Charles Schwab & company. This is a different login than Schwab Bank, and my unlinked Schwab Bank checking account is not accessible from it.

The account details page in Quicken shows Charles Schwab Bank -Web Connect as the financial institution.

I'm using Quicken Deluxe version R48.15

Dave

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Tom Young

Both my Schwab bank accounts - checking and savings, both "unlinked" - show Charles Schwab & Co., Inc as the financial institution.

dpsid2

Tom: Are you able to connect Quicken to these accounts?

Tom Young

Yes, no problem. If you use a distinct User ID and Password for the bank accounts vs. the brokerage accounts, then I'd think you'd need to use that.

dpsid2

Tom: Thanks for your response. When I log into Schwab brokerage, I only have access to my investment accounts and the investment checking account. When I log into Schwab bank, I only have access to my unlinked checking account.

When I try to connect to the unlinked Schwab Bank account from Quicken, it takes me to the Schwab Brokerage login page. The distinct Schwab Bank user ID and password are rejected there as invalid.

By unlinked checking account I mean that the account is not linked in any manner to my brokerage accounts, i.e. it is a stand-alone Schwab Bank account.

Ps56k2

What Schwab named entry are you using for the - Bank - Add Account ?
It appears that the Bank entry only has - Web Connect - manually downloading from the Bank online website -

03793 03793 03793 Charles Schwab Bank -Web Connect
https://www.schwabbank.com/ 888-403-9000
https://www.schwabbank.com/ ACTIVE
BANKING&WEB-CONNECT

Tom Young

As I said, neither of my bank Accounts are "linked" to any of my brokerage Accounts. "Linked" here is used in the Quicken sense meaning that any investing transaction involving cash has the cash portion of the transaction showing up in a separate "bank Account" in Quicken. (I have never seen ANY utility to this with Schwab so it's a "feature" that I've never used and my impressions was that Schwab - unlike some financial institutions - don't even offer this feature. But I could be wrong.)

"Back in the day" when Schwab was still pretty much an upstart you did have to log either to the bank or to the brokerage, but that distinction was eliminated many years ago and now logging "into Schwab" means that both bank and investment accounts are available to you. You might want to talk ot Schwab about one User ID and Password getting you access to everything "Schwab", bank and investment.

dpsid2

I spent 4 hours on the phone yesterday with Schwab and Quicken tech support on this problem with no resolution. The best either companies tech support could come up with was "Gee, I don't know". I've wasted enough time on this, so I've given up. It's a shame, Quicken used to work.

Tom Young

That is strange. Next step: Close down both bank accounts with Schwab and transfer the monies to new accounts with Schwab, and make sure these two accounts use the same User ID and Password as for the Investment accounts.

Ps56k2

not sure what this problem is -

I just walked thru adding the Schwab BANK - WEB CONNECT - this implies it is a totally offline & manual account -
and it all worked fine…. never even logged into Schwab -

Quicken —> Add Account —> select Schwab Bank Web Connect —> enter name for "offline" account -
—> enter date & bal for starting account -
DONE - as shown…