Chase Downloading Security Not Held In Account And Forcing a Placeholder

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I have four investment accounts with Chase that are connected and syncing with Quicken for Mac. I've noticed the account values for each account is higher than what is reported by Chase. After looking into the transaction history, I can see a placeholder transaction for security with ticker AGG is added to each of the accounts, but with no cost basis. I have never owned this security and it's not in my account history for any of these four investment accounts.

If I delete the placeholder transactions, they will reappear as soon as I sync the accounts.

If I add the placeholders and create a fake removal of shares to zero out the transaction, it will either create a new placeholder or double the existing placeholder.

If I add the placeholders and create a fake remove of shares to zero dated for tomorrow, it successfully shows the correct account balance that matches Chase, but then the next day, it'll revert to one of the scenarios listed above.

What else can be done to get rid of these fake placeholders? I'd like to report this to Quicken Support, but it seems like email or form is no longer an option. I really don't want to waste the time calling or chatting about this during business hours, but I'd like Quicken to fix this bug.

Answers

  • RickO
    RickO SuperUser, Mac Beta Beta
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    This is much more likely a bug at Chase's end. Placeholder transactions are created by Quicken when a holding is reported by the brokerage in the download but doesn't exist (or doesn't match what's) in the Quicken portfolio. You can look at the file: (Mac username) > Library > Application Support > Quicken > Logs > OFXLog.txt to verify this. This file shows you what is coming in from the brokerage. If you search it, you will likely find the ticker "AGG" in there. The file is not easy to read, but if you find "AGG" in there, it means it's coming from the brokerage. This is something you'd need to investigate with Chase as to why it's being reported in the download.

    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • RickO
    RickO SuperUser, Mac Beta Beta
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    @ziptbm I just noticed your profile says you're using Quicken WIndows. My comment above gives instructions for Quicken Mac. Which are you using? If it's Windows, the basic hypotheses above would still apply, but I can't tell you where to find the OFXlog file for QWin.

    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • jacobs
    jacobs SuperUser, Mac Beta Beta
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    I agree with what @RickO says above about this being a Chase issue rather than Quicken. But I wanted to add one note regarding contacting Quicken:

    @ziptbm said: I'd like to report this to Quicken Support, but it seems like email or form is no longer an option. I really don't want to waste the time calling or chatting about this during business hours

    Quicken Support does not have email support, and has not for at least the past decade. Email really isn't an effective means of tracking down a problem with complex software, because there are always follow up questions which make real-time two-way conversation the only practical approach. Their phone support is open for 12 hours during the week, so you can pick a time before or after business hours depending on your time zone. And their chat support is open for 12 hours every day, including Saturday and Sunday.

    Quicken Mac Subscription • Quicken user since 1993
  • RickO
    RickO SuperUser, Mac Beta Beta
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    I will also add that with phone support, they have the ability to screen-share to help really dig into what the problem is.

    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • ziptbm
    ziptbm Member ✭✭
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    Yes, I'm on Mac. I used to use Windows before I converted to the dark side.

    The logs are not found in that directory on my mac, the easiest way I could find the logs was via the Report a Problem link. Upon getting to this txt file, there are no records of AGG anywhere in it.

    So, I contacted support via chat and as expected, wasted way too much time to be told the same information here (check the logs) and that it's Chase's issue.

    As I shared above, it's not in the logs. And even if it is Chase's issue, QUICKEN is the application that is forcing the placeholder even after I delete it. It seems like QUICKEN should provide the ability to the user to ignore a bad transaction from the bank upon download. Telling the user to contact Chase will be another fool's errand. I totally get that QUICKEN has no control over what Chase provides during download, so let's give the user the ability to ignore the bad data and move on.

  • RickO
    RickO SuperUser, Mac Beta Beta
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    I'm at a loss to understand how the AGG can be showing up in your transactions it's not in the log file. Makes me wonder if you're looking at the wrong log file. But I'll take your word for it.

    One thing you could try would be, after deleting all AGG transactions, delete the AGG security in Window > Securities. Although I don't really expect that to change anything.

    Another thing you can try is to make a new Quicken file and add the Chase accounts to that file. See if the problem occurs in new file. If it does not, then you could create new copies of the accounts in your regular file, move the transactions over to those accounts and delete the old ones. Or in the worst case, export the file contents and import to a new database, although this would require recreated a lot of stuff such as saved reports, etc.

    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • ziptbm
    ziptbm Member ✭✭
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    Made a second attempt via phone…wasted over an hour and half with them to find no resolution. Quicken's answer was to give me a refund for my subscription because there is nothing they can do.

    The "supervisor" confirmed there was no download of AGG in the logs as I had reported earlier. After several attempts of deleting the connections, re-adding them, creating a test file, etc. The new theory is my file is corrupted and it must be restored back to a time well before the 4 Chase accounts were added…so basically, I'd need to either completely start from scratch (and lose 20+ years of history) or rebuild from last year and have to get all of those accounts up to date.

    If Quicken just provided an option to ignore a placeholder, this all could be avoided. I really don't care if I have two fake transactions that zero each other out in my account.

  • jacobs
    jacobs SuperUser, Mac Beta Beta
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    You could do the following experiment creating a test file, and if it is successful, you could decide to move forward with that file instead of your old file.


    The test would be exporting all your data and then importing it into a new Quicken file. To do this, go to the file menu and do Export > QXF. Then create a new file, and do Import > Quicken Windows (QDF, QXF). The new file should have all your transaction data, but it will be missing any saved reports or attachments if you had them in the original file also, some of your register and other settings will not carry over. In the new file, connect Chase and download to see if AGG is there or not. If there is no AGG, then you can assess how much time it will take you to finish connecting your accounts, tweak your register, set up, re-create reports, etc. in order to continue with the new file going forward.

    Another thought… In your current file, after you delete the placeholder transaction Quicken creates for AGG, go to Window > Securities and try to delete the security AGG. If it won’t allow you to delete it, that means there are actually one or more AGG transactions in your data. Post back what you find; if it will not let you delete AGG, we can discuss how to hunt down whatever mysterious AGG transaction is in your data.

    Quicken Mac Subscription • Quicken user since 1993
  • ziptbm
    ziptbm Member ✭✭
    edited June 24
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    Thanks. I did create an export, imported to a new file, and then reconnected Chase…unfortunately, AGG re-added for some reason. In our testing with a brand new Quicken file, it didn't appear to download AGG in a completely fresh quicken file. This is why support believed there's something corrupt with my file, so therefore the only option would be to restore a backup from before that account was created to see if that fixed the issue….but then lose all history from that point forward. And if that still failed, then start completely over…

    As for trying to delete the security altogether, I did attempt this previously as well, however there are some historical transactions in other non-chase accounts with this security, but I do not currently own it. Attempts to delete it gives me the following message, "These securities are used by active transactions and cannot be removed" even though it's not actively held.

    At this point, I'm just trying to figure out how to arbitrarily remove the values without having to manipulate it manually. Rebuilding from scratch is not something I want to entertain at this time.

  • jacobs
    jacobs SuperUser, Mac Beta Beta
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    I did create an export, imported to a new file, and then reconnected Chase…unfortunately, AGG re-added for some reason.

    When you say it "re-added", do you mean after the data was imported into the new file, it was there? Or that after creating the new file, connecting your Chase account, and downloading transactions, it then showed up?

    The export and import into a new file would remove any possible corruption in your data file as a source of the problem. So if AGG is there in the new, imported data file, I think it points to there being an actual AGG holding Quicken is trying to balance out.

    You previously wrote: "I have never owned this security." Now you have added additional and different information: "there are some historical transactions in other non-chase accounts with this security, but I do not currently own it.

    You may have done this already, but…

    • Click on All Transactions in the left sidebar
    • Click on the Transactions tab
    • Click on the Columns icon and if Symbol is not already checked, check it now; if Account is not checked, check it
    • Click on the Symbol column heading once or twice to sort in ascending order: "Symbol ^"
    • In the Search box, enter AGG
    • Look at all the AGG transactions, and the accounts they are in; are there none in the Chase account?

    As for trying to delete the security altogether, I did attempt this previously as well, however there are some historical transactions in other non-chase accounts with this security, but I do not currently own it. Attempts to delete it gives me the following message, "These securities are used by active transactions and cannot be removed" even though it's not actively held.

    Another way of approaching this: in your test file created from the export/import, find all the AGG transactions and delete them, or change them to some other Symbol. Then delete the security AGG from the Securities list. Then download from Chase; does Quicken now re-create AGG as a security, and re-create the placeholder transaction?

    Quicken Mac Subscription • Quicken user since 1993
  • ziptbm
    ziptbm Member ✭✭
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    When you say it "re-added", do you mean after the data was imported into the new file, it was there? Or that after creating the new file, connecting your Chase account, and downloading transactions, it then showed up?

    Re-adding the placeholder transaction for it. It wasn't there before downloading transactions in this scenario of importing the backup into a new file (with the placeholders already deleted before backup), but after syncing in the new imported file, the placeholders re-appear.

    You previously wrote: "I have never owned this security." Now you have added additional and different information: "there are some historical transactions in other non-chase accounts with this security, but I do not currently own it.

    You're correct, my previous statement was incomplete. Here it is corrected - I have never owned this security <in these Chase accounts>. Therefore, it's odd that when downloading transactions from Chase, it would add this security. There were some historical transactions of holding this security 10+ years ago in one of my spouse's old accounts at another firm, however no shares of this security are held in any account at this time.

    The export and import into a new file would remove any possible corruption in your data file as a source of the problem. So if AGG is there in the new, imported data file, I think it points to there being an actual AGG holding Quicken is trying to balance out.

    AGG has never been held in these accounts, but I have a suspicion that it's incorrectly mapping to IJH, which shares much of the same full name. Changing those transactions manually to IJH does not stop the auto-placeholder creation.

    Another way of approaching this: in your test file created from the export/import, find all the AGG transactions and delete them, or change them to some other Symbol. Then delete the security AGG from the Securities list. Then download from Chase; does Quicken now re-create AGG as a security, and re-create the placeholder transaction?

    I haven't tried this yet, but I am flagging this if my latest "workaround" doesn't pan out. Here's what I've done so far:

    • Accepted/Added/Reviewed the placeholders for AGG. Each of these accounts now has a transaction for buying AGG at $0.00 before the accounts were technically created.
    • Created a sell transaction to zero out AGG and dated it one day prior to the reported purchase of AGG.
    • Re-synced all accounts and it appears to no longer be adding the placeholder….fingers crossed this continues.

  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
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    quicken windows user here that has Chase investment accounts. I have never seen a AGG security but I thought I would mention that Chase investments have several securities that are used for accounts that they transfer in and out of.
    What you are seeing might be one of them. One feature request that is on quicken windows is to treat more than one security as the cash security for this very reason.

    My general workaround is the flag. One of them has the cash security and then when the other ones come in, just delete them.

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  • ziptbm
    ziptbm Member ✭✭
    edited June 25
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    quicken windows user here that has Chase investment accounts. I have never seen a AGG security but I thought I would mention that Chase investments have several securities that are used for accounts that they transfer in and out of.

    I did see the cash sweep when using one of the other Chase options for connecting the accounts (I believe "JP Morgan Chase Private Bank" if I recall correctly) that didn't show through the normal Chase connection, however AGG also downloaded in addition to the cash sweep record in that configuration.

    Well it's been 24 hours, I've downloaded/synced today's transactions and AGG did not come back, so workaround seems to be working.

    The current workaround is to create a SELL transaction the day before the reported BUY transaction from the placeholder that zeroes out the security. This appears to have tricked Quicken into reporting the balances correctly and the only "issue" I've found with this workaround is that it makes the account negative since the transaction dates are from before the account was funded (and technically created). It's not perfect, but it's better than manually deleting multiple transactions each time I sync/download transactions.