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How do I manage cross-border banking?

Bowgirl

I live in Canada, and I have bank & investment accounts in BOTH Canada and the USA. How do I manage this on Quicken? The US version of Quicken does not recognise my Canadian bank. Do I have to buy the Canadian version in addition to the US one that I own? And if I do .. will it recognise my USA-based financial institutions?

I don't see the value of having an app that supports multiple currencies if it doesn't support the banks of those currencies. I can't imagine I'm the first one with this situation, but a search turned up completely irrelevant results (maybe I am phrasing it wrong?).

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Quicken Anja

Hello @Bowgirl,

Thank you for reaching out to the Community with your question.

I would advise switching your subscription from the US version to the Canadian version as the Canadian version will offer a list of supported financial institutions in both Canada and the US.

To do so, we do advise contacting Quicken Support directly by phone as our phone support agents will have the necessary tools available to assist you in making this switch successfully which this channel, unfortunately, does not.

Please, click here to review Quicken Support's hours of operation.

Arctic Hare

@Bowgirl I recommend you review the FIDIR.TXT file for both the USA and CAD versions carefully and determine which provides the best support for you. Note that you can't run both versions on one computer (without virtualizing Windows). There are other differences between the products, including investments, taxes, etc.

Note that it is the banking accounts that are tricky. There is, essentially, zero support for downloading investment transactions in the Canadian version, but the Canadian version does handle US denominated investments.

It is difficult to recommend a best-fit solution for you without knowing more about your banking and investment situation.

Bowgirl

Thank you both.

I had been living in the US, now returned to Canada so I don't need the US tax "stuff" anymore.

I have banks and investments in both countries. Tax filing is only in Canada.

So I think as long as my US institutions are available for transaction download on the Cdn version, I'd be set.

Unless there are considerations within the software about which I'm unaware, waiting to hijack me

Ps56k2

just curious - what do you do with any US generated 1099 forms ?

Bowgirl

> @Ps56k2 said:
> just curious - what do you do with any US generated 1099 forms ?

They get declared on Canadian tax return.

Arctic Hare

https://community.quicken.com/discussion/comment/20359391#Comment_20359391

You cannot download from most US institutions with the Canadian version. You'll need to check the FIDIR.TXT to determine whether the ones that you need are supported.

Arctic Hare

https://community.quicken.com/discussion/comment/20359397#Comment_20359397

Which is not really a Quicken issue. Quicken has minimal support for Canadian tax return prep. Most of use TurboTax. I run a few reports in Quicken to get some numbers used in the tax return, but that is all.

Bowgirl

> @Arctic Hare said:
> You cannot download from most US institutions with the Canadian version. You'll need to check the FIDIR.TXT to determine whether the ones that you need are supported.

You're a good help, thank you.
One more question - Where do I find the FIDIR.TXT file?

Arctic Hare

Keep in mind that the FIDIR.TXT is unique to each of the CAD and USD versions - and Quicken updates it periodically. I believe the path to this file can vary a bit. Best to search your C: drive for it… I believe you'll only have the US version at the moment. My FIDIR.TXT

for the CAD version is located here:

C:\ProgramData\Quicken\Can\Inet\Common\Localweb\Banklist\2019

Also read this: https://www.quicken.com/support/message-when-opening-quicken-service-provider-change-ok-right-away

I would attach a copy of the file here, but it does not permit attachment of a TXT file, unfortunately.

If you want to name one or two US financial institutions that you would want to connect to from the CAD version, name the FIs and I'll see if I can find them in the file and post back here.

Bowgirl

> @Arctic Hare said:
> Keep in mind that the FIDIR.TXT is unique to each of the CAD and USD versions - and Quicken updates it periodically. I believe the path to this file can vary a bit. Best to search your C: drive for it… I believe you'll only have the US version at the moment. My FIDIR.TXT
>
> for the CAD version is located here:
>
> C:\ProgramData\Quicken\Can\Inet\Common\Localweb\Banklist\2019
>
> Also read this:
>
> I would attach a copy of the file here, but it does not permit attachment of a TXT file, unfortunately.
>
> If you want to name one or two US financial institutions that you would want to connect to from the CAD version, name the FIs and I'll see if I can find them in the file and post back here.

Thank you!
If you could please check for Capital One and UNFCU (United Nations Federal Credit Union) banks as well as Raymond James investments, I'd appreciate that.

I only need RBC for Canadian banks but the US version doesn't accept my login information. I think it's only for RBC-US bank clients.

Arctic Hare

Entries for Capital One

07492 07492 07492 Capital One Card Services https://www.capitalone.com/ 1-800-955-7070 https://verified.capitalone.com/sic-ui/#/signin ACTIVE CREDIT&WEB-CONNECT NOT_QBP NA
07460 07460 07460 Capital One Costco MasterCard - CA https://www.capitalone.ca/ 1-800-481-3239 https://verified.capitalone.com/sic-ui/#/esignin ACTIVE CREDIT&WEB-CONNECT CREDIT,ACCOUNTINFO&EXP-WEB-CONNECT NOT_QBP NA
07463 07463 07463 Capital One Platinum - CA https://www.capitalone.ca 1-800-481-3239 https://servicing.capitalone.com/c1/login.aspx ACTIVE CREDIT&WEB-CONNECT CREDIT,ACCOUNTINFO&EXP-WEB-CONNECT NOT_QBP NA

*** Note that the limited support indicated above is for credit card data only by Web Connect for the first one; the latter two support EWC. But only the first one is .com. Conclusion: if you need banking transaction download from Capital One, Quicken Canada does NOT support such.

No Entries for United Nations Federal Credit Union

No Entries for Raymond James investments

Looks like you are zero for three… or close to it (as I expected).

Entries for RBC

13543	13543	13543	RBC Bank - Online Banking	http://www.rbcroyalbank.com/personal.html	1-800-769-2555	https://www1.royalbank.com/cgi-bin/rbaccess/rbunxcgi?F6=1&F7=IB&F21=IB&F22=IB&REQUEST=ClientSignin&LANGUAGE=ENGLISH	ACTIVE		BANKING,CREDIT&WEB-CONNECT			NOT_QBP	NA
00016	00016	00016	RBC Banque Royale	http://www.rbcroyalbank.com/business/online/online-banking.html	NA	https://www1.royalbank.com/cgi-bin/rbaccess/rbcgi3m01?F6=1&F7=IB&F21=IB&F22=IB&REQUEST=ClientSignin&LANGUAGE=FRENCH	ACTIVE		BANKING,CREDIT&WEB-CONNECT			NOT_QBP	NA
12088	12088	12088	RBC MasterCard	http://www.rbcmcinquiry.com	1-866-298-9828	http://www.rbcmcinquiry.com	ACTIVE		CREDIT&WEB-CONNECT			NOT_QBP	NA
00015	00015	00015	RBC Royal Bank	http://www.rbcroyalbank.com/	1-2 (1-800-769-2512)	https://www1.royalbank.com/cgi-bin/rbaccess/rbunxcgi?F6=1&F7=IB&F21=IB&F22=IB&REQUEST=ClientSignin&LANGUAGE=ENGLISH	ACTIVE	BANKING,CREDIT,ACCOUNTINFO&EXP-WEB-CONNECT	BANKING,CREDIT&WEB-CONNECT	BANKING,CREDIT,ACCOUNTINFO&EXP-WEB-CONNECT	BANKING,CREDIT,ACCOUNTINFO&EXP-WEB-CONNECT	NOT_QBP	NA

RBC Royal Bank is supported, of course. I download from RBC Royal Bank regularly using EWC/OSU.

Bowgirl

Thank you @Arctic Hare
Looks like I'll continue manual input for the time being, then.

Very disappointing that Quicken can't provide a true cross- border product. I would think that they'd be able to restructure the programme but all they seem to do is patch the old ones. Short term gain, long term foolish. There are so many who live, literally, on both sides of the border. If they were more client focused they'd have developed a plan long before now. (excuse the rant)

I really appreciate your help in making an informed decision. Thank you again.