Why can't Quicken add an Alerus retirement account?

finance tracker

I tried to add my Alerus retirement account to Quicken, but I keep getting an error. I have no problems adding other accounts. Quicken, please update your software.

Boatnmaniac

A couple of things that I noticed when looking at the FIDIR.TXT data:

None of these three connection options include support for Direct Connect (DC) nor for INVESTMENT accounts. So if the retirement account is an IRA then Alerus does not support downloading that Investments accounts data.

Alerus Retirement Solutions:

• Does support downloading of 401K retirement accounts but only via the Web Connect (WC) method, not via the DC or Express Web Connect+ (EWC+) methods.
• DC or EWC+ are required for being able to set up downloads from within Quicken.
• So, if the retirement account is a 401K account it will need to be manually downloaded from the online account in QFX (or "Quicken" or "Web Connect") format.
• Once downloaded, import it into Quicken and make sure it gets linked to your account in Quicken (if that account is already set up) or instruct Quicken to Add it as a new account.
• Each future download will need to be done manually, as well, but it should automatically import into Quicken and match up with the 401K account in Quicken.

Alerus owns deciding which download connection method(s) and for which types of accounts they will support. If you want them to be able to support DC or EWC+ for any kind of investment accounts you will need to request them to add that support. If they have enough customers requesting it then perhaps they will decide to add that support at some time. They will then need to contract with Intuit (the aggregator) to get that added to the FIDIR.TXT file. Once that is added to that file, then downloading from within Quicken can be set up.

NotACPA

I'm finding multiple entries in FIDIR,TXT for Alerus … so why can't you add your account?

What FI name are you using and what's happening?

18787 18787 18787 Alerus - Business https://www.alerus.com/ 800-279-3200 https://alerus.olbanking.com/smallbusiness/auth ACTIVE ACCOUNTINFO,BANKING&DIRECT BANKING&WEB-CONNECT BANKING,ACCOUNTINFO&EXP-WEB-CONNECT NOT_QBP NA
05142 05142 05142 Alerus - Personal https://www.alerus.com/banking/ 701.795.2662 https://login.alerus.com/ ACTIVE BANKING,CREDIT&WEB-CONNECT BANKING,CREDIT,ACCOUNTINFO&EXP-WEB-CONNECT NOT_QBP NA
12850 12850 12850 Alerus Retirement Solutions http://www.alerusretirementsolutions.com 800.433.1685 http://www.alerusretirementsolutions.com ACTIVE 401K&WEB-CONNECT NOT_QBP NA

Boatnmaniac

A couple of things that I noticed when looking at the FIDIR.TXT data:

None of these three connection options include support for Direct Connect (DC) nor for INVESTMENT accounts. So if the retirement account is an IRA then Alerus does not support downloading that Investments accounts data.

Alerus Retirement Solutions:

• Does support downloading of 401K retirement accounts but only via the Web Connect (WC) method, not via the DC or Express Web Connect+ (EWC+) methods.
• DC or EWC+ are required for being able to set up downloads from within Quicken.
• So, if the retirement account is a 401K account it will need to be manually downloaded from the online account in QFX (or "Quicken" or "Web Connect") format.
• Once downloaded, import it into Quicken and make sure it gets linked to your account in Quicken (if that account is already set up) or instruct Quicken to Add it as a new account.
• Each future download will need to be done manually, as well, but it should automatically import into Quicken and match up with the 401K account in Quicken.

Alerus owns deciding which download connection method(s) and for which types of accounts they will support. If you want them to be able to support DC or EWC+ for any kind of investment accounts you will need to request them to add that support. If they have enough customers requesting it then perhaps they will decide to add that support at some time. They will then need to contract with Intuit (the aggregator) to get that added to the FIDIR.TXT file. Once that is added to that file, then downloading from within Quicken can be set up.

finance tracker

@Boatnmaniac Thank you for such detailed and helpful information. If I had known about this sooner, I would have been spared the long hours online with the Quicken support technician to no avail 😝.