CDs get set up as Checking not Savings
I have a number of CDs and I usually purchase a new one every month. But if I let them get created automatically, they get set up as checking, not savings. Is there a way to control that besides setting up each one manually, setting it for Savings, then setting up online banking and get the transactions downloaded?
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Quicken knows nothing about bank CDs. In Quicken (for Windows, at least), the only CDs it knows about are securities in brokerage accounts. So you'll have to set up your bank CDs manually as Savings accounts if that's what you like.
If you have a brokerage account, you might want to keep your CDs there so QWin can better handle them.
Quicken user since version 2 for DOS, now using QWin Biz & Personal Subscription (US) on Win10 Pro.
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What kind of account type is used for downloaded CD bank account is up to the financial institution.
Most of the time it matters little if it is called a Checking account or a Savings account.
About the only time it matters is when Quicken is grouping accounts together, and that can be controlled by the Account Details → Display Options → Account intent setting.
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@cmorus - It really doesn't make a difference if your bank CD account is set up with a Checking or Savings account type. If you do want to force it to have a Savings account type, then set up the account manually with a Savings account type before downloading transactions from your financial institution. You should be able to link your bank CD like any other savings or checking account and the interest transactions should automatically download. But again, it shouldn't make a difference if the account type is Checking or Savings.
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