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Why does my PAYEE downloaded in my register not match

deex2

After i do my auto download/quicken update a lot of my payees don't match what is actually in my bank, for example: one of many transactions are transfers from my checking to a savings account (one of several). The payee in Quicken checking after the download reads "Withdrawal Transfer To Share 000" BUT in my account online it says "Withdrawal Transfer To Share 012", the 012 might be 01 or 05… the last two #'s refers to the savings account money was transferred too.

***Just so I'm clear I know how to create renaming rules, or edit and replace info…

My main question is does anybody else experience this and do you have any idea if this is fixable or how to fix it. I don't know if this is a Quicken issue or a bank issue or a combination of the two because info changes and or gets dropped in transit. Also this is NOT a recent issue, it has been going on for a long, long time.

***Sample below. The "SHARE" 001 is listed on all three of these savings accounts, when in fact all three accounts are DIFFERENT accounts so the "001" is for an account not even listed below. The "share " #'s should be different for all 3 accounts below and none of them are share 001

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Quicken Jasmine

Hello @deex2,

Which financial institution are you experiencing this issue with? What is the connection method? You can see the connection method by navigating to Tools > Account List. Are you receiving any error codes or messages? When did this issue begin to occur? After a recent update or a bank migration?

Thanks!

deex2

Orange County Credit Union

Express Web Connect

No, no error message

This has been going on as far back as I can remember. Pretty much ever since I 1st started using Quicken. I had previously complained about it, but nothing happened about it. Sometimes, but VERY rarely there are a few "Withdrawal Transfer To Share (that shows the correct account #)" but has never been consistent. Also besides showing no account number and either just a "000" it shows the incorrect account number (for example checking will transfer 10.00 to personal savings account #2 so instead of saying "Withdrawal Transfer To Share 002" it will say "….. share 005", 005 being a completely different account.

Don't have any idea what you mean by "bank migration"?

Chris_QPW

Your problem is that the payee field is limited to 32 characters and your financial institution is putting the most important part of the payee information at the end and exceeding that limit.

In truth though seldom do you get "nice to use" information on transfers and that is the reason why most of the SuperUser suggest pre-entering transfers and then Quicken will match the downloaded transaction to them. Or you can read up on the other use cases of transfer matching here:

https://community.quicken.com/discussion/7944737/faq-automatic-transfer-detection-usage

deex2

https://community.quicken.com/discussion/comment/20412759#Comment_20412759

I don't know if that is true, the only reason why I say that is, is because In my other accounts at Bank Of America I'm not having any issues and there are long Payee titles/messages… and they don't get messed up.

Also regardless if the info "looks nice" or the number of character's, whether or not there is a limit, the account numbers are WRONG and miss assigned

UKR

Are you making multiple transfers of the same amount on the same day?
If so, because the payee name is truncated, there's no way for Quicken to correctly match these transfer transactions to the real transactions.

You really should manually record your transfer transactions BEFORE the downloads arrive in your Quicken data file. Give each of them a distinct Payee Name. And, if you have several with the same amount, also vary the amount slightly, to keep each transfer distinct (e.g., $100.12 instead of $100.00 on one transfer, $100.05 on another, etc.) Now you should be able to correctly match up your transfers.

If you haven't done so already, talk to the bank and ask them to change the wording on these transactions, e.g, to omit "Withdrawal" or shift it to the end, after "Transfer to nnnn"

deex2

Are you making multiple transfers of the same amount on the same day? yes, to like 14 different accounts two of which are at other branches.

there's no way for Quicken to correctly match these transfer transactions to the real transactions, That's not true because it has and occasionally does.

When in the hell would I "manually record your transfer transactions BEFORE the downloads arrive", That would defeat the whole purpose of having quicken? The amounts being transferred from my checking into the various savings is correct. It is the verbiage that is all messed up in Payee.

Why would I contact my bank and "ask them to change the wording on these transactions, e.g, to omit "Withdrawal" or shift it to the end, after "Transfer to nnnn"???

Chris_QPW

there's no way for Quicken to correctly match these transfer transactions to the real transactions, That's
not true because it has and occasionally does.

Read the FAQ I posted to see why this is true. When people guess at things, they are sometimes right, and sometimes wrong, this is no different for Quicken.

But I do what to retract my original statement in part. As I look at your screenshot, I see that there are exactly just enough characters to make out the account number. So, in that case, the wrong information is being transferred from the financial institution to Quicken.

This is a problem that you would have to Contact Quicken support for, because only they can contact the appropriate people to start to find out why the wrong payee is being picked up.

https://www.quicken.com/support#windows

And note that your data represents something that is very unusual and something that Quicken can't count on and doesn't. Not all financial institutions put the account name that they are transferring to in the payee information. And that would especially not be true of transfers between different financial institutions. As such if those account numbers were downloaded correctly, you could use the special case of a memorized payee to automate the setting of the transfer category like I mentioned in the FAQ I posted.

deex2

Thanks for trying. I had already contacted Quicken Support and as usual, the rep said oh its not them its the bank. If I contact the bank they say its Quicken, you know how it goes. So basically nothing ever gets done.

Chris_QPW

Just so you know, it really isn't Quicken (the program) or Quicken Inc (the company) {But Quicken Inc can certainly get in the way of fixing it}. Express Web Connect is done with an "aggregator" which is Intuit. Quicken Inc pays Intuit for this service. So, it is between Intuit and the financial institution to work out which is at fault and fix it. So, all Quicken Inc's part is submitting a request to Intuit to work on it. Unfortunately, the Quicken Support personal are very reluctant to do that (maybe because the only way is to escalate the problem).

At any rate with that information gone you are on the same level that most people are, and that is that the payee can't be used, and then what I stated in my FAQ is the only options.

And since you are transferring to multiple different accounts the memorized payee option is off the list. I can actually use that option with "Automatic Payment - Thank" as the payee, because my only transfers with that payee is paying off my credit cards which I do from the same checking account no matter what credit card it is.

deex2

https://community.quicken.com/discussion/comment/20412833#Comment_20412833

Thanks for the history/info. for me, the paying customer to Quicken it is Quickens fault. Who quicken subcontracts business to… or who they deal with is their issue/business. Quicken is ultimately responsible

Chris_QPW

True, but that doesn't stop them from using the other parties as scapegoats and ignoring your requests.