Does a financial institution get notified for a download error or failure?
I've never done transaction downloading from my financial institutions but have been wondering about this.
It seems to me that there are an extraordinary number of reports of errors and failures when users download data. As I understand, Quicken has a standard format and specifications for downloading and institutions pay for this service. Does the institution ever KNOW that a download has failed? Does Quicken own and maintain the software or does the financial institution develop it's own software for creating the download? Does download failure get reported to the institution so the institution knows the results? Does a download failure get report to the owners of Quicken so they KNOW when it fails, or do they simply wait for users to report failures? Does Quicken keep a record of such failures that could be documented and explored by their support and the users?
Back about 1970 I was a developer creating software for a banking institution and I can tell you this number of reported issues would never have been tolerated. This whole download error situation appears to be the greatest failure of Quicken.
Then over the years I developed databases and networked remote systems for several Fortune 500 organizations and we always had to be sure the organization and the end user knew EXACTLY what happened when there was a failure, not just a vague error number. The only acceptable exception was a hardware failure that took the whole system down.
My wife and I use a large number of online services such as Amazon, Ebay, Etsy, Mastercard, Visa, Fidelity, and two credit unions with bill-pay services and almost NEVER have issues with any of those.