Why is "Micro Deposit Description Removed"?

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A while back the monthly interest payments downloaded from our credit union started to show as "/ Micro Deposit Description Removed". These are very small deposits around $0.10 a month. They used to download as Dividend payments and Quicken recognized them as Interest Earned. It's a minor issue and easily corrected each month, but I'd like to get back to not having the deposit description removed. My renaming rules do not direct this change.

Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
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    Please do TOOLS, Account List and tells what's in the "Transaction Download" column for this CU.

    Also, find one of these txn in the OFXLog (HELP, Contact Support, Log Files, OFXLog) locate one of these txn and see what Memo is being downloaded.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • DMG1
    DMG1 Member ✭✭
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    Thanks.

    The "Transaction Download" column says "Yes (Direct Connect)" and the Memo in the OFXLog file for the transaction reads "Micro Deposit Description Removed", exactly what Quicken is showing in the register. It looks like the CU is telling Quicken exactly what Quicken is showing me in the transaction register, so it's not Quicken, it's the CU - correct?

  • UKR
    UKR SuperUser ✭✭✭✭✭
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    about "Micro Deposit Description Removed"

    Have you recently enabled (or re-enabled) a checking account for use with Quicken Bill Manager Quick Pay or Check Pay?
    If so, your account register should have both a pair of "Micro Deposit" transactions in random amounts of less than $1.00 and a matching pair of "Micro Deposit Removed" transactions of the exact same small amounts.

    In my account they looked like this:

    They should not be confused with monthly Interest deposits.

    Take a look at your Memorized Payee List and see if there's an entry in there with a misleading comment.

  • DMG1
    DMG1 Member ✭✭
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    Thanks for your thoughts. I haven't changed anything and I have seen the micro deposits for acct verification with matching withdrawals many times in the past. This stand-alone transaction is definitely my very small interest deposit and there isn't a matching withdrawal. I'm not super familiar with the OFXLog file info, but I plan to contact my credit union on Monday to inquire about what now appears to be their new practice to remove the description of these micro deposits that are actually interest amounts.