qfx import fails - Quicken unable to verify financial institution

swoerm01@

I get the following message when trying to import a QFX file created on my bank's web site which reflects a range of transactions missing in Quicken. (4/18/24 - 7/14/24)

"Quicken is currently unable to verify the financial institution information for this download. Please try again later." (screenshot also attached)

I've been trying to fix this for a couple months. I have phoned support. They said to try it again. I have, a lot. Called again, they said without an error code they can't do much. But this is THEIR error message. I would think they should know what this message means. I'd like to send them the qfx file for analysis but there doesn't seem to a way to do that.

It's only about 65 transactions so I could enter them manually but that's both tedious and error prone so I'd like to avoid that. Plus, this should work.

Quicken error.jpg

I'm on Quicken Classic Deluxe - current Version R59.18 / Build 27.1.59.18 on Windows 11 Pro

NotACPA

NO, it has to do with the FI, even though they allow you do download QFX files, hasn't told Q to allow QFX imports. NOTE, in what I previously replied, that "Web Connect" isn't a download option. DIRECT (i.e., Direct Connect) and EXP-WEB-CONNECT, yes. But straight WEB-CONNECT isn't shown.

This is that bank's decision. They're giving inconsistent replies in allowing QFX downloads, but not having told Q/Intuit to accept them.

ENTIRELY the FI's fault. Bug them. Q can do NOTHING about this until the FI contacts Intuit (Q's download service) to correct this.

Quicken Jasmine

Hello @swoerm01@,

Which financial institution did you receive this error with?

Let me know!

swoerm01@

My bank is Central Bank of the Midwest.

NotACPA

Central Bank of the Midwest is still shown, in FIDIR.TXT (that records all of the connections between Q and the FIs) as being a "Participating Financial Institution", supporting both Direct Connect and Express Web Connect, but NOT "Web Connect", which you're trying to use.

Central Bank of the Midwest - Pers https://www.metcalfbank.com/ 816-525-5300 https://secure.centralbank.net/login/login/Login.jsp ACTIVE BANKING,ACCOUNTINFO&DIRECT BANKING,ACCOUNTINFO&EXP-WEB-CONNECT

SO, why are you trying to import a QFX file instead of downloading via One Step Update?

BTW, how far back a download into Q can go is determined by the FI, not Q. 90 days is the usual maximum period … so anyway you go you'll probably have to manually input anything prior to that period.

AND, are you talking about what the bank knows as "Personal Accounts"? It's not apparent that they support the download of ANY business accts.

swoerm01@

Thanks for by the reply. I’m using QFX import because one step update failed to bring these transactions in to Q. yes this a gap in my personal checking account transactions. I do use OSU. And It currently works just fine but it isn’t bringing in those missing records - likely because they’re too far back? Apparently at least once - during or right at the end of the gap period - it failed to bring in these transactions and I didn’t notice until I sat down to reconcile the account (which I remember to do 2-3 times a year). I know I’ve used this import functionality at least once prior and it worked. But that was quite some time ago and Quicken has had a zillion updates since then.

NotACPA

@swoerm01@ How far back those txn fall is most certainly the issue … but I have no way of knowing how far back you bank allows.

Once you get caught up, I'd suggest downloading AT LEAST once a month, to avoid this issue in the future.

And, besides the Q updates, it's equally possible that the bank decided to stop supporting Web Connect into Q. ENTIRELY the bank's decision.

swoerm01@

thanks again. The bank “allows” me to query the account to display all transactions between the missing dates. I then export those results as a qfx file saved to my downloads folder. I then manually select File Import, select the qfx file and click ok. This results in the error message. It seems to me that the problem likely lies in how the file is being formatted by the bank or how it is being processed in Quicken. Further it would seem that Quicken support could inspect the file and determine which one of these is the issue. Any idea how I can communicate with them. Support calls have been no help so far.

NotACPA

NO, it has to do with the FI, even though they allow you do download QFX files, hasn't told Q to allow QFX imports. NOTE, in what I previously replied, that "Web Connect" isn't a download option. DIRECT (i.e., Direct Connect) and EXP-WEB-CONNECT, yes. But straight WEB-CONNECT isn't shown.

This is that bank's decision. They're giving inconsistent replies in allowing QFX downloads, but not having told Q/Intuit to accept them.

ENTIRELY the FI's fault. Bug them. Q can do NOTHING about this until the FI contacts Intuit (Q's download service) to correct this.

swoerm01@

ok that makes sense now. I’ll try with the bank again. I’m guessing I’m SOL tho and I’ll be either entering them manually - or just forget about quicken save myself a few bucks. Been using it FOREVER. Thanks!

NotACPA

You'd only need to input manually those "catch-up" txn. Yeah, that's a pain, but once you're caught up, monthly downloads will take care of the rest. (Assuming your bank allows txn that go back that far …. almost all do).

I always tell people that the WORST part of doing taxes, other than writing the check, is gathering all of the data that you need to do the return. With Q, that task is spread out over the entire year making it MUCH less onerous.

UKR

Shhh! Don't tell anybody 😉, but here's a workaround procedure to let you import the downloaded QFX file …

First create a backup of your Quicken data file.
Use Notepad (Mac: TextEdit) or any other available ASCII text editor (not Word!) to edit your QFX file.
Replace the bank ID number in two of the header records of the file with the number shown here:
<FI>
<ORG>B1
<FID>10898
</FI>
<INTU.BID>10898
Don't change anything else. Just those two numbers.
Save the file to a different file name and import it into Quicken into a new, temporary account register.
Once imported, select to highlight all transactions in the new register except the Opening Balance transaction.
Windows: Right-click a selected transaction. Select "Move transactions" from the popup and select the destination register, your real bank account.
Mac: Drag the entire block of transactions into your real account register in the Account sidebar.
In the real register, if necessary, edit the existing Opening Balance transaction to be the desired (oldest) date and set the amount to the same day's paper bank statement Ending Balance.
Now you're ready to compare your register to the bank statements and fix any discrepancies.
You can delete the temporary account register now.

swoerm01@

wow that’s cool. I can try that - at least to the point where they land in a new account and see if they look right.

What does that 10898 ID do? Make the FI look generic?

Thanks.

UKR

https://community.quicken.com/discussion/comment/20460190#Comment_20460190

It's the number of an existing bank, Chase, and helps the import program find a valid bank entry.
I found this workaround in old discussions in the Community and hope it still works. Please let us know.

Chris_QPW

https://community.quicken.com/discussion/comment/20460229#Comment_20460229

It will work provided you pick a financial institution that supports that account type for "Web Connect". Note "Investment" ⇒ Brokerage accounts, "40K" ⇒ Retirement accounts. Chase is generally a good choice because it supports most of the account types. EDIT: I notice that Chase dropped Web Connect investment accounts since they dropped Direct Connect a while back, so they aren't good for those accounts. But since this thread is about a banking account it should be good.

swoerm01@

So I finally made the time to try the work-around provided by UKR. Thanks for that. At first I didn't follow directions closely enough and got it all f'd up. Restored again and got it to work but only in the sense that all of the previously missing transactions were now appearing in the register BUT all of the balances were off - significantly. And I DID exclude the opening balance transaction when I moved the new transaction from the temp account to the real one. Even the balance from when I'd last reconciled (3/25/24 - I know…) was wrong, and that should have been matching the bank's statement from that month. My reconciles ALWAYS come out right, as they should, since I'm simply importing the bank info into Quicken.

I have to say, I didn't really understand (or do) this part of the directions (which may have been important!):

"In the real register, if necessary, edit the existing Opening Balance transaction to be the desired (oldest) date and set the amount to the same day's paper bank statement Ending Balance."

But at this point I'm pretty done with it. I have 3 choices, as I see it. Continue using Q with the missing t's still missing. The ending balance matches the bank. I just can't reconcile. Or manually enter the missing t's, hoping for a different result. 🙂 Or, pitch Q altogether and just use the banks UI (which I use for bill pay), trust their statements, etc. I don't use Q for taxes, mine are simple. So that's likely where I'm headed.

Thanks again for all the responses and helpful suggestions.