How does Quicken handle Virtual Credit Card Account Numbers

Bob Myers

Are virtual account numbers identified in downloaded transactions? I understand that the OFX/QFX standards provides for an optional ACCTID field. Is this field used to identify transactions that use virtual account numbers?

Boatnmaniac

ACCTID is not an optional field in QFX file downloads. It is a required field that is used by Quicken to link a download to the account that has been set up in Quicken. Without that number, Quicken will not be able to process the QFX data for that financial institution and account.

To my understanding, a virtual account number is a randomly generated number used by the financial institution to mask/hide the real account number from the payee. It does not change what the real account number is. Transactions made with virtual account numbers will post in against your real account number. What gets downloaded into Quicken are the transactions that get posted against the real account number. Quicken has no visibility to the virtual account numbers that were used. In other words, use of virtual account numbers has no impact on Quicken at all.