Login procedure for banks with a variable password

jba547

I use a bank with a Digipass app soft token login that varies real-time, so I can't use a fixed password from Quicken's password vault. I've been shown that I can log into the bank site and then download a Quicken OFX data file and then bring that data into my Quicken app on my computer as a way to synchronize. But that risks getting duplicate entries if the date range is wrong. I would prefer that Quicken update its software so that the login credentials can be entered on the fly while the One Step Update is processing. That way, my Quicken software will keep up with what has and hasn't been downloaded, just like it does with my bank accounts with a fixed password login.

jacobs

I've been shown that I can log into the bank site and then download a Quicken OFX data file and then bring that data into my Quicken app on my computer as a way to synchronize. But that risks getting duplicate entries if the date range is wrong.

As long as you use that method of downloading consistently, there shouldn;t be a problem with duplicate transactions. Part of the OFX specification is that every transaction is given a unique transaction ID number — the Financial Institution Transaction ID, or FITID. You can even make the FITIDI column visible in your register if you want to see that each transaction has a unique number. Quicken stores every FITID number you've ever imported, via direct download or via OFX import, and if it encounters a FITID number it has seen before, it discard the transaction so a duplicate isn't created in your data file. The date range of transactions you're importing shouldn't matter; Quicken will prevent duplicates.

There are only two ways this can go wrong. First, if the financial institution screws up and doesn't insure that every transaction's number is permanent, as it should be. Second, if you switch between importing OFX files and connecting directly in Quicken, because the financial institution may use different servers which assign different FITID number to the same transaction. Normally, neither of these should happen.

jba547

That's good news and great information. Thanks for your post!