Transfers in Quicken that go to the Bank

Rod Christmas

Is it possible to transfer money between counts in quicken and have that transaction actually occur at the bank? Currently I am doing it at the bank and downloading the transactions I am trying to move more toward Quicken being my single point of entry.

splasher

Yes, but only under very specific conditions. The account has to be setup to use Direct Connect download method and the financial institution has to support the information exchange that would cause that operation.

In the past, my credit union supported Direct Connect but they did not support the operation, it wouldn't work for me.

I consider doing what you are doing as a single point of entry. You are only manually entering the information once and the download handles the entry into Quicken. Without the download, you would have to do it twice.

The advantage to doing it at the FI is that it is absolutely done where it really counts because if Q fails to be successful and you rely on the action to have happened and then bounce a check, who is to blame? There will be a bunch of finger pointing and the check is still bounced.

retird

I just make the transfer via the bank app and let Quicken download the transaction. Less chance for error or malfunction and grief if something goes south…..

splasher

Yes, but only under very specific conditions. The account has to be setup to use Direct Connect download method and the financial institution has to support the information exchange that would cause that operation.

In the past, my credit union supported Direct Connect but they did not support the operation, it wouldn't work for me.

I consider doing what you are doing as a single point of entry. You are only manually entering the information once and the download handles the entry into Quicken. Without the download, you would have to do it twice.

The advantage to doing it at the FI is that it is absolutely done where it really counts because if Q fails to be successful and you rely on the action to have happened and then bounce a check, who is to blame? There will be a bunch of finger pointing and the check is still bounced.

retird

I just make the transfer via the bank app and let Quicken download the transaction. Less chance for error or malfunction and grief if something goes south…..