Chase Checking Account online balance negative, but Quicken and Chase online positive.
Updated online accounts this morning and my Chase Checking account in Quicken Windows (Premier, v. R60.15) shows an online balance of negative. However, Chase online has the correct positive value. Reported/known problem?
Answers
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Hello @Michael Farley,
Did you receive any error codes or messages? Do the transactions appear in your Quicken register as they do in your Chase accounts online? Can you see any transactions that would have caused this to occur?
Please let me know!
-Quicken Jasmine
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No errors. Transactions appear to agree. Looking again. Thanks!
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currently you can’t trust the online balance for Chase accounts because there is a known problem with the way Chase is sending data from pending transactions when it shouldn’t. You should try reconciling when you don’t have any pending transactions or maybe better yet to reconciling to what they call the statement balance which in fact can be any balance that you type in for instance a balance that you might see on the Chase website.
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also see this announcement
and even though it isn’t mentioned in this announcement, people have remarked that not only does it include pending transactions, the signs of those pending transactions are reversed.
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Also, you might want to check the Opening Balance transactions of those accounts to see if they have the correct dollar amounts listed. Perhaps the easiest way to confirm this is to restore a backup file from before when you first noticed this issue occurring. That backup file can be from a long time ago provided the accounts at issue now are also in that old backup file. If the amounts shown in you current main data file don't match what is shown in the restored backup file, then correct those amounts to match what is shown in the backup file.
Quicken Classic Premier (US) Subscription: R61.20 on Windows 11 Home
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Resolved: Pending deposits were the culprit. Online Balance stated in Quicken now correct. Known problem, it appears. Thanks for the responses!
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Hello @Michael Farley,
Thank you for coming back to update us, I am happy to hear that the issue is resolved!
-Quicken Jasmine
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You stated this is resolved, do we need to wait for the fix to happen after a software update? I am still having the issue, even after signing out and back in and running sync.
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I don't think you understood the response. @Quicken Jasmine wasn't saying that the Chase Online Balance problem was resolved. She was saying that @Michael Farley had found a "workaround" that "resolves" the immediate problem of reconciling his account (basically reconcile when there aren't any pending transactions or reconcile to the statement balance where you can type in the right balance instead).
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Got it, I misunderstood. Thanks!
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When is this going to be fixed? It's been a problem for years now.
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It can't have existed "for years now." This issue is specifically related to when pending transactions are enabled to be downloaded and included in the account balance. Don't know the exact date that this started but based on the original post and the posted Alert it likely started in the last 1-1/2 to 2 months. Even if it started earlier than this, this pending transactions feature was just released in April 2024….about 9 months ago, not years ago. And for this specific issue there is a workaround solution.
So, it sounds like you hare having an issue of some sort that is different than the subject of this thread. If that is the case, I suggest that you start a new thread and provide specific details of what you are experiencing, with which financial institution(s) and account type(s) you are experiencing it and what you might have done to troubleshoot the issue. That will help to ensure that your issue gets the attention that is needed without side-tracking this thread.
Quicken Classic Premier (US) Subscription: R61.20 on Windows 11 Home
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Hello All,
Who is still experiencing the issue regarding a negative balance shown with Chase?
Let me know!
-Quicken Jasmine
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I have never had this issue with my Chase account. But then I don't have pending transactions enabled to be included in the account balance.
Quicken Classic Premier (US) Subscription: R61.20 on Windows 11 Home
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Good to know, thanks!
-Quicken Jasmine
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I haven't seen the problem in a while, so it might be fixed. i was able reconcile my checking account and two credit card accounts and they have pending transactions at the moment. The checking account even has a deposit pending.
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I noticed over this past week it seems to have been corrected. I assume by Chase Bank.
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Hello @Chris_QPW and @wyerby,
Thanks for letting us know! I am happy to hear that the issue is no longer occurring. Please reach out if it returns!
-Quicken Jasmine
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Just saw the problem again. Probably due to Chase being "inconsistent" late at night.
This is true of both of my Chase credit cards.
Interesting that in the case of at least one of the accounts it is including one pending transaction and not another, that are both for the same day.
If Chase can't keep their website consistent, I have very little confidence that they can do it for Quicken.
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I am able to reconcile my Chase credit card but the online balance is incorrect (19,000 in quicken vs 4800 on line). Tried deactivating account, activating, turning on and off the pending transactions download feature. all to no avail.
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That's an unusually large discrepancy. Here are my immediate thoughts about it.:
- Check the Opening Balance transaction dollar amount. Is it accurate? If you do not know, you might need to go back to a backup file dated from before when you started seeing this issue. If the dollar amount in your current data file is not accurate, you will need to manually correct it.
- Have you previously entered account balancing transactions? If so, back up your data file and delete those transactions. Since is it not uncommon with EWC and EWC+ accounts to have a 1 day delay between the download of transactions and the updating of the Online Balance resulting from them, if we start entering account balancing transactions too soon it can become a "whiplash" issue that can cause the need to enter additional account balancing transactions to correct for the entering of previous errant account balancing transactions.
- You might want to scroll through the entire register looking for duplicate transactions. If any are found, keep one and delete the other.
- Are there missing transactions (especially payments made to Chase or credits) that are missing? There have been some posts by others that some older transactions that had previously been reconciled "disappeared" from the register and with older transaction categories (such as possibly payment transfers to this Chase account) having been changed or deleted. Perhaps this might have occurred?
(EDIT: Added #4 to this list of troubleshooting ideas.)
Quicken Classic Premier (US) Subscription: R61.20 on Windows 11 Home
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The problem described in this thread is able pending transactions being included in the Online Balance that is downloaded to Quicken, and sometimes the sign of those pending transactions is wrong. So, unless you have some really big pending transactions, you are dealing with a different kind of problem. @Boatnmaniac 's suggestions are a good start to try to figure out what went wrong.
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Please let us know how if the problem is still occurring after @Boatnmaniac's recommendations!
Thanks!
-Quicken Jasmine
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I have complete the troubleshooting ideas suggested by @Boatnmaniac and did not find any of those conditions present.
I also have updated the transactions since my last post and now the on-line transaction balance is showing 24,435,759,449,432,300.00.
I have been using Quicken for this credit card for 10 years and never had an issue with the online balance.
I will just continue to ignore the on-line balance value as it does not preclude me from reconciling the credit card monthly - it is just wrong. the balance in the register balance to the transaction detail for each cleared transaction.
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@jswright@ With a number like that this certainly isn't the "normal problems". Most likely some kind of something in the data Quicken is getting that is just garbage. This is one where the developers really need to have a look at the log files.
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Still having issues.
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