Chase Online Balance Not Correct
For the last couple of days, the Online Balance being pulled in from Chase is not correct. The balance being pulled in looks to be the current balance from chase PLUS the amounts of any pending debits. It shouldn't be pulling in any pending amounts, but additionally, if it were to pull them in, it should be pulling them in as deductions from the current balance, not additions to.
For example, if the account balance on Chase shows $100 and there is a pending debit card transactions for $10, Quicken should be showing $100 as the online balance. Instead, it is pulling in $110 as the online posted balance (it's taking the current balance and adding, not subtracting, the pending charge). It's been doing this for the last three days. I'm on Quicken Classic for Mac, Business & Personal, version 7.10.1 (Build 710.55389.100).
Best Answer
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Hello All,
Thank you for taking the time to report this issue to the Community, although we apologize for any frustration or inconvenience experienced.
This issue has been reported to our Development and Product teams for further investigation and resolution. Though we do not currently have an ETA, you can bookmark this Community Alert to get updates when available and to know when the issue is resolved. If you do not see the bookmark icon at the upper right, please make sure you are logged into the Community.
Thank you!
(Ticket #11412545/CTP-11394)
Quicken Kristina
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Answers
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I changed the connection from Chase Investments - New to Chase (not sure why it was using that other connection since I initially set things up) and now it works fine.
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Hi, I'm having the same issue with the Online Balance equaling the real Online Balance plus (adding) the Pending Transactions. Not following how you corrected it. The Connection Method on my account is Express Web Connect…always has been. Started yesterday when I was unable to reconcile. Would you please be able to explain in more detail how you corrected it, @jforadada? Thanks a bunch!
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I thought I had corrected it when I changed the connection from "Chase Investments - New" to just the "Chase" one, but it only fixed it for that first pull. Since then I keep having the same issue where it's adding pending transactions (instead of excluding them).
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@jforadada @nmeyerz You may want to contact Quicken Support about this. It may be a known issue, and if it's not, they need to document it and create a ticket for Quicken's connectivity service provider, Intuit, to look into.
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I am having the exact same issue. My balance was $2,000. I had a $1,000 debit transaction so now online website balance correctly shows $1,000 but when update occurred, quicken online balance shows $3,000. Instead of deducting, it added. This is happening on all checking and savings account for me. Hopefully, it is a chase error and will self correct as I have no idea how to fix it. Please advise if you found a solution.
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I'm seeing this on Quicken Windows too, and I can even point to the fact that Chase's website is wrong too.
As you can see, I reconciled on the 22nd. And after that point three more transactions cleared.
This can be seen (along with the current/online balance that it sent to Quicken).
Of course, here you can't see what the running balance is on the Chase's website at that point where I reconciled, but I did reconcile to the online balance for that transaction, and the balance shown in Quicken is 2316.34 and adding those last three transactions doesn't add up to 2428.34 (it equals 2365.60, just what Quicken has). So, what does? If you add in those three, plus the "pending" transactions on the 22nd and 23rd, that does add up. 2365.60 + 18.56 + 28.48 + 15.60 = 2428.24.
So, if Chase can't even keep their website properly consistent at times, it is not likely that they will keep the data sent to Quicken consistent either.
Thankfully the inconsistencies seem to only be in the online balance, and over time they do tend to get straightened out (and then go bad again).
I do think I have seen more of this lately though.
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Same issue for the last week or so with online balance being incorrect. It appears that pending credits are substracted from ending balance and pending debits are added to ending balance. It looks to me more of a bug in Quicken rather than Chase download. Not sure how Quicken processes the raw download data, but it's definitely not working like it did in the past.
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Quicken doesn't "process the raw downloaded data" when it comes to the online balance. The online balance is a single field in the data sent from the financial institution. And as you can see in my example. The one that Quicken showed is exactly what was shown on the Chase website as the "current balance". But that "current balance" includes pending transactions, which it shouldn't.
This is a Chase problem.
Note that account reconciled this morning (Chase's "current balance" is now consistent). Basically, this is "timing". There are times when Chase's balance is consistent, and times when it isn't.
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This is not the issue I’m having. In my case, the online balance shown in Quicken is not matching the balance in Chase. The only way to reconcile the two is to take the Chase balance and add (not subtract) the pending debits (those pending debits are not included in the posted balance, so this is basically grossing up the balance by the inverse amount of the pending debits). It should not be pulling in any pending items, let alone adding them to a balance from which they haven’t even been reduced from yet (the posted balance). I never had any issues before (I reconcile daily and have for several years)…this just started in the last week.
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You are getting pending transactions downloaded?
Does Quicken Mac have the feature to download pending transactions?
Quicken Windows has a new feature that allows downloading of pending transactions (or with it off not downloading them).
This feature has been proven to be "unreliable". And I think all the Quicken Windows SuperUsers have turned it off. And yes, the major problem with it seems to be that the online balance isn't always correct for all financial institutions, not to mention the problems like I stated where the online balance isn't "consistent" at certain times.
If Quicken Mac doesn't have this feature, then you shouldn't be getting any pending transactions downloaded. If you are, that is the bug, not necessarily the online balance (but it can be wrong too).
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no, pending transactions are not being downloaded. The only thing that changed in the last week is that the Online Balance being pulled in is wrong. If on Chase it shows a cleared balance of $1,000 and a pending charge of $100, quicken is showing a cleared online balance of $1,100 for some reason. It’s very strange. I could see if it was inadvertently pulling in a balance of $900, but it’s not even doing that. It’s just taking the cleared balance and adding pending charges to the balance (even though the pending charges have not reduced the cleared balance yet).
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In general, I have had pretty good luck with Chase credit card accounts online balances. And yes, I have noticed in the last few weeks where they have been "inconsistent" when I never seemed to hit that before. But Chase's checking account has a regular problem where on weekends and holidays the online balance is wrong if there are transactions cleared during that time. This has been there from day one and never fixed (not too much of a problem for me since I don't have a lot of checking account transactions and can wait till Monday to do the reconcile).
On the other hand, different financial institutions have had these kinds of inconsistencies where at certain times of the day/week/month are wrong. This is nothing new.
Think of it this way. How could the online balance be wrong last night for my reconcile, but correct today, if this was a bug in Quicken (the program)?
Quicken (the program either Windows or Mac) isn't going to do something different with the online balance at different times of the day.
It is going to be Chase that needs to fix this problem but note the first step in that is what @jacobs suggested. You need to contact Quicken support and try to get them to escalate the problem to the people that will talk to Chase and get it fixed.
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Jforada says it exactly as what I've experienced and diagnoses. I've been using quicken since 1996. This is the 1st time that the online balance does not match what quicken shows as the online balance. It's off but it's off because it is doing the inverse with the pending transaction.
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agreed. This is for my checking account. Never had any issues before last week. There is a glitch in one of the systems (Chase or intuit) and it’s getting the wrong balance.
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Same issue here. The online balance for my chase checking account in Quicken is incorrect. It is taking the real online balance and adding the Pending transaction amounts to it, which is a much greater amount than the real online balance. When will this be resolved? @Quicken Kristina
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My Chase balance is off by the amount of my 2 uncleared pending transactions, so I tried to show them as cleared in the reconcile window. Instead of adding them to the difference (which was negative) it subtracted them from the difference, so instead of making the difference zero it doubled it instead. I don't think I will get reconciled correctly until I have no pending transactions left (unless the glitch gets fixed). Of course, I rarely have no pending transactions.
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this is exactly what’s happening to several of us.
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I am experiencing pretty much the same issue. In my case (after performing a one-step update) the online balance shown in Quicken was $-1653.13. The actual balance in the chase account was $2660.08. All of my cleared transactions downloaded correctly. There are no other past cleared or pending transactions to download. Additional- I did an update using the Gear option ⚙. The online balance changed to $-1353.13.
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In my checking account, I have an ending balance of $117.50; I have an EFT deposit of $2006, Chase reporting an online balance of $1888.50-. Same problem as everyone else. This is happening in Classic for Windows as well.
You would think with the volume of errors (who knows who's not complaining), Chase would have fixed this by now. Has Quicken reported it to them yet?
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Same Issue Quicken Online Balance does not match the actual chase balance. started happening a few days ago.
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I don't know how to report it. It's really annoying and needs to be fixed so someone please stay on it! Thanks.
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The best way to report it is to contact Quicken support:
Official Quicken® Support - Phone, Chat, or Community
You can also do Help → Report a problem (note there isn't any feedback when using this method and isn't as sure that a ticket will be created for it).
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After doing an update this morning my ending balance corrected itself to the proper amount.
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Do you have any pending transactions? Mine is still showing a wrong balance. The only time the balance is correct is if there are no pending transactions.
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Yes, there is one pending ACH deposit showing on the Chase account.
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After I did a One Step Update this morning the online balance was incorrect once again. There are 3 pending transactions on the Chase account.
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Hello All,
Thank you for taking the time to report this issue to the Community, although we apologize for any frustration or inconvenience experienced.
This issue has been reported to our Development and Product teams for further investigation and resolution. Though we do not currently have an ETA, you can bookmark this Community Alert to get updates when available and to know when the issue is resolved. If you do not see the bookmark icon at the upper right, please make sure you are logged into the Community.
Thank you!
(Ticket #11412545/CTP-11394)
Quicken Kristina
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After I did a One Step Update this morning the online balance was incorrect once again. There is 1 pending transaction on the Chase account.
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Chase is just bizarre.
Look at this "math".
Reported online balance to Quicken:
If you take the $18,261.33 and add the $33.76 and $444.94 you get the reported online balance $18,740.03. Note I said add, these transactions are debits!
Even if the pending transactions are included in the balance, it should be $18,261.33 - $444.94 - $33.76 = $17,782.63.
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I hope this gets corrected soon. It's my exact scenario with the inverse math showing in quicken version of chase online balance.
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