Chase Online Balance Not Correct
Answers
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Same here… it's adding instead of subtracting pending entries (not that it should be doing either with those pending entries).
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BTW, just to be clear, I'm on Quicken Windows, so whatever is happening is "upstream" from the actual Quicken program.
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With only 1 transaction to download and no pending transactions the online balance was correct this morning.
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That makes sense, as the issue occurs when there are pending transactions. It’s now a known bug, so you just need to monitor the link above.
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it seems like every time quicken does an update, they mess up the Chase downloads. Every single time!
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@BWMATT Quicken Mac hasn’t had an update in the past month. The problem is almost never with the program itself; rather, it’s either an issue with the financial institution making a change or a problem with Quicken’s connectivity provider, Intuit, or both.
Quicken Mac Subscription • Quicken user since 19930 -
Is there any update on this issue as of 12/6?
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Hello @JosieC,
The ticket is still open and being worked on. If you haven't already done so, I recommend that you bookmark the Community Alert linked below. Any updates, once available, will be posted there. If you do not see the bookmark icon at the upper right, please make sure you are logged into the Community.
Thank you!
Quicken Kristina
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Will it mess up my Quicken file if I select "statement balance" instead of online balance to reconcile for the time being? Will I be able to transition back to online balance (when it's fixed) without a problem?
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Thank you for your reply,
It shouldn't cause any issues if you use statement balance for now, provided that you make sure you're filling in the correct information. Once the issue is corrected, you should be able to switch back to using the Online balance option. For more information on reconciling using statement vs online balance, please review the How to Reconcile section of the article linked below:
Thank you!
Quicken Kristina
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Hello,
My issue is a little different. The difference between my actual account balance on the Chase website and the one in Quicken is 1018.44. This is an account whose total value never exceeds $400 at the most. The online balance in Quicken has been incorrect for a month, so I am balancing it myself manually. Not an onerous feat but definitely annoying. That number is actual as I have no pending transactions at the moment. I tried turning the Pending off and on on the Online balance tab, I have reset the account several times, and ran a file validation. No issues. In fairness I will say that my other 10 accounts are working fine. Weird.
Ken
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Hello @krlee,
So our teams can further investigate this issue, please navigate to Help>Report a Problem and send a problem report with log files attached. Please include CTP-11394 in the description of the issue.
Thank you!
(Ticket #11412545/CTP-11394)
Quicken Kristina
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I've been having the same issue. My Chase checking online balance in Quicken calculates the inverse of pending transactions before including them in the balance. So basically, a payment of $10 is looked at like a deposit of the same amount. Though I undestand how to calculate around the issue, it keeps me from being able to reconcile the account until a day hen there are no pending transactions. I don't undestand why this suddenly happened last month, or why Quicken can't roll back whatever update screwed this up. It shouldn't take weeks to resolve this.
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@steveberk said:
I don't undestand why this suddenly happened last month, or why Quicken can't roll back whatever update screwed this up. It shouldn't take weeks to resolve this.
Most likely, because Quicken Inc didn't cause the problem, Chase is the most likely one that caused the problem.
First off, this problem has shown up in both Quicken Mac and Quicken Windows (and neither of them had updates to the program at the time), so that pretty much rules out the actual Quicken programs as causing this.
The next possible, is either Quicken Inc's or Intuit's servers doing something to the data as it is transferred through them (from what they got from Chase). This again is unlikely to be the problem because they wouldn't have written special software just for Chase. It would do the same for all the financial institutions using the same protocol. One of the main purposes of the new Express Web Connect + protocol is to standardize this data transfer.
And since this isn't happening for any of the other financial institutions using this protocol, that points to Chase as sending out the wrong data.
And that points to why Quicken Inc can't do a "roll back", and also why it is taking a long time. Chase has to fix it, and I'm sure it isn't one of their top priorities.
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@steveberk I was able to reconcile today. I had to uncheck the "always use online balance to reconcile" and then it gave me the option to use a paper statement. I set the date of the "paper" statement to yesterday and used the running balance from the end of the day - that is available if you look at your checking account transactions on a browser instead of the Chase app. That way, the pending transactions are completely excluded from the process.
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Dec 11, 2024 same issue with inverse math (pending deposits subtracted from actual balance for online balance). And, no pending deposits shown. Is this Chase issue or quicken issue?
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JosieC- I understand the process for reconciling with a papaer statement, and have done it before.
ChrisQPW- I'm not convinced that this is a Chase problem. I have several Chase accounts (checking, Credit Card, savings) and the checking account is the only one that exhibits this problem. The credit card account,which has many more transactions affecting it, displays and accounts for the pending balance correctly.
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Which in my opinion increases the odds that this is a Chase problem. Why would Quicken behave differently for different accounts?
Frankly, even though this new a "more serious" outbreak of Chase online balances being wrong, it isn't anything "new". For basically all the time since the switch to Express Web Connect + Chase's checking accounts have had a problem with the online balance on weekends and holidays. Note I said, "checking accounts". At the very same time there were no problems with their other account types like the credit cards.
And at the same time, I have found inconsistencies even on Chase's website for some periods of the day/weekends…
But more importantly, show me any threads where people are complaining about the same problem for a different financial institution. Note I'm talking about the exact kinds of same problems (only for some account types and only at certain periods of time, and the newest the amount sign problem). Online Balances have always been an "iffy" situation. But this is one of the first cases I have ever seen where the pending transactions are not only included when they shouldn't, they also have their amount signs reversed. That is a new one, and unique to Chase, and being "recent".
It is this very fact that for Chase and only Chase, there is so many factors that keep changing depending on account type and time that points to Chase and not Quicken.
Note that Online Balances reporting has been so inconsistent over a wide amount of financial institutions, that if you were posting this in a Windows thread you would almost certainly have a post by a SuperUser that you shouldn't be using the Online Balance and should be using the "Statement Balance" instead.Signature:
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Note this is now a new announcement on this:
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I called support on 12/10 and spoke to someone who tried to tell me how reconciling checkbooks works and that there was NOT a problem. I have been using quicken for 20+ years and to have a "lesson" in banking was kind of an insult…
Anyways, I am glad to hear that I am not the only one with the issue! I did figure out a workaround today since I haven't been able to reconcile my business checkbook in two weeks.
Using the "paper statement" option, I added the balance from TWO days ago as the starting balance. As the ending balance, I used YESTERDAY's balance. It FINALLY reconciled to zero.
I have spent way too much time trying to figure this out so hopefully someone else can use my workaround until this gets fixed.
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