Statement memo not downloading- Statement payee says 'Deposit'

Julio123

Quicken classic Mac VERSION 7.9

Problem started about 1 month ago with 1 account only (RBC bank)

Problem:

When downloading transactions the statement payee says 'deposit' and statement memo is blank for the same day and 1- 2 days previous transactions. Before the issue started same day transactions did not download at all. (the bank feed assigns the payee the day after). My payee field thus just says 'Deposit'

The older then 2 days transactions populate all info as usual.

This is a business account with lots of transactions and now when updating accounts all of the same day to 2 days prior transactions have to be manually matched with bank statement.

What I tried so far:

• Disconnected RBC account multiple times, did not solve the problem.
• Updated Quicken software multiple times, did not solve it.
• Rest of accounts with same bank all good.
• No error messages when updating accounts

jacobs

Click on one of the "Deposit" transactions, and select View > Show Inspector. Look at the fields near the bottom, under the "From your financial institution" heading. What does the "Statement Memo" field show there. This is exactly what is coming from your bank. If it says "Deposit" or is blank, then the issue is that your bank is not sending any other information.

Julio123

Hey Jacobs, thanks for the response. you are right, the "From your financial institution" fields are empty.

Part of the problem for this account is that Quicken pulls the info of same day transactions that do not have any information yet even on my bank account (just says 'Deposit'- online banking).

Previously these transactions would not download into Quicken until the day after when they showed the correct payee on online bank.

Do you still think this is a banking issue?

Thanks

jacobs

Part of the problem for this account is that Quicken pulls the info of same day transactions that do not have any information yet even on my bank account… Do you still think this is a banking issue?

Yes. Quicken only "pulls" what the financial institution is sending. If the bank doesn't have complete information, they shouldn't be including it in the downloads to Quicken, period. Quicken has no control over what data it receives; it simply captures what the financial institution sends.

I'm curious about what you're saying about the timing. If you were to wait a couple days and then download, are you saying the download information would be different? (You could create a separate test data file, connect it to BOH, and try downloads every third day or so to see if it gets different data than your live data file.)

Julio123

Hi Jacobs,

Yes the data is different.

I started downloading on Saturdays only. All of the Friday and Thursday transactions are marked as 'Deposit', Monday-Wednesday are fine with all the info correctly downloaded…

If I download on Friday then all Friday, Thursday and Wednesday are 'Deposit', Monday- Tuesday are fine.

This started about a month ago and is getting frustrating to manually match transactions. Just this one account.

Rest of RBC accounts are all fine.

jacobs

I wonder if RBC might be sending these as incomplete pending transactions but not coding them as such. Quicken Mac should be ignoring any pending transactions. If this is happening, it's hard for users to know if the problem is the bank coding the transactions incorrectly or Quicken incorrectly posting the transactions. If RBC offers the ability to download a .qfx file, yo can open it in a text editor and perhaps get a clue — or you can reach out to Quicken Support to do so.