Why does quicken enter a check date that my bank will not allow?

HelpMeQkn

Quicken automatically enters a processing date on my checks that I send to my bank for bill pay. However, when the bank goes to process them, the bank returns an error that they are not dated far enough in advance. But this issue doesn't happen all the time - just sometimes.

Apparently my bank requires a 7 day lead time and once in a while the checks will default to a 6 day lead time and I don't realize it until the checks are rejected. Why doesn't Quicken do this properly all the time.

I also noticed that Quicken will not add an extra processing day to account for bank holidays - something that my bank also requires.

FYI - this is with Truist. They are the only one I use online bill pay with.

Frankx

Hi @HelpMeQkn

I assume that you are getting the "It is too late to make a payment to "Name of your vendor" by [a specific date is cited] "… and "The date will be changed to…".

This message is actually based on the bank's timetable, rather than Quicken's and different financial institutions have different lead times, depending on a few factors, including whether the bank will pay via electronic payment, or paper check, etc. So Quicken, will return that "error" message based on various factors including the time frame when you actually submit the payment through one step update. And the "bank holiday issue" is one that you need to account for, because Quicken does not discern when there are bank holidays.

My advice would be that, when you get this rejected payment, you change the "Due next on: date" that you've been using in "Bill and Income Reminders" for that financial institution to an earlier date (a few days earlier) than the current setting, so that you'll be reminded timely, even when there are bank holidays.

Let me know if you have any followups.

Frankx

HelpMeQkn

I am just creating a new payment using the "write checks" feature. It still doesn't explain why Quicken will sometimes set the processing for six days out (not allowed by Truist) and other times seven (works fine). I have not found a way to change the default.

One would also think since the program is running on a computer, Quicken would be able to discern when there is a bank holiday and add an extra processing day so the user would not need to account for it.

And, if the bank does return an error, Quicken should allow you to change the date of the rejected transactions automatically to the next available processing date - without having to go into the register and alter each one.

Frankx

Hi again @HelpMeQkn,

I did not ask you how long you have been using Quicken, but I suspect that you may be a relatively new user. I mention this mainly because you said that you are using the "write checks" feature for your monthly payments being paid from your bank, which is a throw back. I also assume that you are not actually "writing checks" for your monthly, or other periodic payments to frequent vendors and payees.

The easier approach is to setup the payments you typically make on a regular on-going basis (weekly, monthly, quarterly, semiannually, etc.) using "Bill and Income Reminders" rather than the "write checks" feature. By using Bill and Income Reminders, I think you will agree it is much easier to: a) get reminded about upcoming payments, b) insert the amount of the next payment (if needed), c) setup the "lead time" for each payment, and account for bank holidays (if that is important to you). I can't remember the last time I used the "write checks" feature in Quicken and I have been using Quicken for almost 40 years.

I hope this helps, and if you have any followups feel free to get back to us.

Frankx