Nationwide 401k download/web connect/QFX import not working
I have a 401k with Nationwide that showed it had web connect active and "functional" in the account. But it wasn't doing anything when I downloaded transactions so I deactivated web connect on the account, thinking I could reactivate to fix it. Now every time I select "Set up Now" Quicken tries to ADD an account.
Additionally, every time I try to import the QFX files from Nationwide, Quicken gives me the useless error "Quicken is currently unable to verify the financial institution information for this download. Please try again later".
Every other account I have downloads data correctly, and can import QFX files correctly.
What the hell do I have to do to be able to simply download transaction data? Why does Intuit make EVERYTHING so difficult and not FIX problems like this before adding more NEW features???
Answers
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According to the fidir.txt file:
Nationwide doesn't support Web Connect/QFX files for 401K accounts:
01476 01476 01476 Nationwide Financial http://www.nationwidefinancial.com 1-888-867-5175 https://isc.nwservicecenter.com/iApp/isc/cmd/Login ACTIVE INVESTMENT&WEB-CONNECT NOT_QBP NA
The above only has INVESTMENT&WEB-CONNECT, this is IRAs, brokerage, accounts, but not 401Ks.That entry would look like this: 401K&WEB-CONNECT
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That's strange, because their website has QFX (mis-spelled as OFX) and QIF downloads under this 401k account. I wonder how they "don't support" something their website shows they actively do support, and why Quicken showed I had an active, "functional" web connection to them before I deactivated it. 🤨
This also doesn't explain why QUicken keeps trying to add an account when I have asked Quicken to activate a connection - not create a new account. I would expect that if it wasn't supported, Quicken would say so - not do something entirely different from what I've asked the application to do.
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QFX is OFX with a few more fields in it, as such it is possible that the financial institution would call it that. Note when downloaded it would have to be a .QFX file. But to the point of why they have it and it isn't supported, only they could tell you that (if you can even get to someone that knows about it). It could even just be a communication problem between Intuit (which creates the fidir.txt file that Quicken uses. Quicken Inc pays Intuit for "connection services"). Basically, the only thing that is blocking this import is that entry in the fidir.txt file.
This also doesn't explain why QUicken keeps trying to add an account when I have asked Quicken to activate a connection - not create a new account. I would expect that if it wasn't supported, Quicken would say so - not do something entirely different from what I've asked the application to do.
The reason Quicken gives you an entry for Nationwide and goes to the setup is because it doesn't know what kind of account you are setting up. The INVESTMENT&WEB-CONNECT means that it does support brokerage and IRA accounts, just not 401K accounts. That is has to be 401K&WEB-CONNECT.
I suggest you contact both Nationwide and Quicken Support on the matter:
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I'm having the same problem. I know Nationwide converted to a "new" system recently and obviously (IMO) the root cause of the issue. Hopefully, Quicken support is working on this.
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I'm having the same problem downloading my 403-B. Since Nationwide recently converted to a "new" system, I would say that hopefully Nationwide is working on this. Importing used to work in Quicken. Nationwide changed (even gave our bookkeeper problem in posting contributions to a 403(b). Importing doesn't work in Quicken now. Hence this is broken on Nationwide's end, not Quicken's.
Downloads that used to work had this info included in the .QFX files
<FI>
<ORG>Nationwide Financial
<FID>1476
</FI>
<INTU.BID>1476The new nonworking .QFX includes
<ORG>TRAC Web
<FID>11610
</FI>
<INTU.BID>11610
as well as my unencryped Social Security number in the file (unbelievable).(See this discussion for looking at the .QFX file:
)
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Didn't mean to double post.
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