Vanguard Error Code: 16503 (QMac)
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I called Vanguard today and requested the digital banking department, as some have recommended, to register my displeasure. The rep asked why and I told him it was about the Quicken issue. He said he's received numerous calls and that they're working on the problem, but he had no idea how long it would take. I just said to register another complaint, that I was a long time customer of both Vanguard and Quicken, but that I'll move my assets from Vanguard before I give up Quicken.
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@frank6 I have had no problems at all syncing / downloading Discover Card transactions with Quicken Mac. I successfully sync every single day.
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so my old discover card still works but I have a new discover account and that will not connect. I called discover and they said they don't support quicken anymore.
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Both people told you the truth. Currently, the only connection option which works with Quicken is Quicken Connect — which most people won't want because you can't see your transactions. Direct Connect was disabled by Vanguard on February 20, but Vanguard says they are working to make changes and restore Direct Connect. This is not a problem created by Quicken; it was done by Vanguard. Hopefully, within a week or two, Vanguard will restore access and things will be back to working as in the past.
Quicken Mac Subscription • Quicken user since 19931 -
Vanguard is having other issues too. It won't let me see my portfolio - just says there is an issue and to try again. And I tried to rebalance my investments, and it says there is an error on their end and to try again. Saw it this morning and just now too.
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When downloading Vanguard transactions as a .qfx file, the option to "link to an existing account" is not available nor are my Vanguard accounts included in the available list of accounts!?! This would appear to be a problem with Quicken, not Vanguard.
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I have no problems with Discovercard. My account use Quicken Connect and my transactions are downloaded on a daily basis.
The evidence in this discussion stream point to a security change at Vanguard that effects some (all?) third parties including Quicken.
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This appeared when I opened Quicken just now…
Ongoing Vanguard Direct Connect Issue
An ongoing issue with Vanguard’s Direct Connect service is preventing Quicken customers from downloading transactions and balances due to a service disruption on Vanguard’s end.
We are in communication with Vanguard, and they are aware of the problem and actively working on a resolution. We apologize for any inconvenience and appreciate your patience as we work with Vanguard to restore connectivity.
While we await a resolution from Vanguard, you can use the Web Connect method as a temporary workaround to download your transactions. Visit this alert for instructions on downloading Web Connect files from Vanguard, or to view latest updates on this issue.
We apologize for any inconvenience and appreciate your patience.
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Is your Vanguard account still showing as being connected via DC or Quicken Connect? If so, deactivate it (or them if you have more than one account). Then try to import that downloaded QFX file, again. You should be prompted to Link it to the account(s) you already have in Quicken.
Quicken Classic Premier (US) Subscription: R61.20 on Windows 11 Home
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So the information I got on my call from quicken was incorrect !!! there needs to be a place to get accurate information. I would like an update daily so we know they are stilll working. not so hard to say still working on it daily.
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@frank6 Sorry to tell you, but you have unrealistic expectations. 😉 There will not be daily updates from Quicken (a) because they have an Alert message posted, and any update, should they become aware of one, will be reflected there, (b) they never deliver daily updates on any of the hundreds of connectivity disruptions with occur each year, and (c) Quicken can't provide daily updates because they don't know the exact status of the work to resolve the problem, which involves Vanguard and it's third-party connectivity provider.
If you can get Vanguard to deliver daily updates — since this is their problem to solve — that would be great. And, probably, a miracle. 🤣
Quicken Mac Subscription • Quicken user since 19931 -
I don't accept that and we should not accept that. They can do better! I am a quicken user for maybe 35 years and what you said is how they have been doing business. Just like the pop up that was just mentioned; that can be updated daily. Accounts that people have with vanguard, fidelity and the like are much more important than say my target credit card.
Put that in version 9 quicken!
Thank you for your response Jacob (I have transaction back to 1993 but I am pretty sure I used to archive them before that)
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I don't accept that and we should not accept that. They can do better!
I don't understand your thinking (other than that you are, justifiably, unhappy with the current situation). Vanguard cut off access to Quicken (and many other finance programs using Direct Connect. Only Vanguard can fix it.
What do you expect Quicken to say tomorrow and the next day and the day after that? "Hi, Quicken users! Vanguard hasn't fixed the issue yet. Have a nice day!" (I'm jesting, but you get the idea.)
Quicken never throws financial institutions under the bus, because Quicken depends on the financial institutions to allow them access; if Quicken were to badmouth a financial institution, they could just say the heck with it and save time, money and aggravation by cutting off Quicken permanently.
Quicken Mac Subscription • Quicken user since 19932 -
Just like the pop up that was just mentioned; that can be updated daily.
No, thank you. I don't need or want to have to dismiss the same pop up day after day. As long as I know they're aware of the problem & it's being worked on I can wait patiently until it's fixed.
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I believe our difference may be here is the level of the problem that we feel. This vanguard issue is so far the biggest issue for me not being able to have this data. it has added maybe an hour a day of inconvenience. this is money lost for me.
The information I got when I called quicken was inaccurate, that is not acceptable. they said vanguard has stopped direct connect forever. I called vanguard and they said they are working on it from a 2/20 memo. I told them this was different from what quicken said, so I asked vanguard who do I believe. they researched it more and found a new memo date 2/25 saying the same thing.
ok a daily update is not real, I take that back. I believe that this community does not have a quicken representative and only until the splash screen yesterday I didn't feel very confident that the information we were getting was accurate.
from your response and the joking this is not really a problem to you (and that is ok), again to me this is huge. and our expectations are obviously different. No matter what, everyone should try to do better in everything they do.
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If I was having to spend an extra hour every day in Quicken because of this I'd be pretty annoyed too, so I can understand that you want this fixed more urgently than I do. But to be honest, I don't understand how this could be eating up so much of your time. I've traveled without internet access for weeks at a time managing all my accounts in Quicken offline and it didn't require anything close to an hour a day. Hopefully you can find a way to streamline things so you're spending less time in Quicken - if you post about what parts you're struggling with we might be able to offer some advice.
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Very frustrating but hopefully Vanguard with fix this soon.
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Discover still works for me, but after just doing an update, now Interactive Brokers is giving the same 16503 error code with an HTTP 404 that Vanguard is. I hope this is temporary and not a sign of things to come for more financial institutions…
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I also am waiting for a fix. I check this board daily hoping to learn that Vanguard is again allowing "direct connect". For anybody that has several active accounts it really is not practical to enter transactions manually.
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This issue with Vanguard is specific to Vanguard. It has no bearing on what might or might not be happening with other financial institutions. If this were an issue caused by the Quicken software or integrator (Intuit) then an error codes might be applicable to downloading from other financial institutions. But in this case it is well established that the cause of the downloading issues is Vanguard, not Quicken software nor Intuit. So if you are getting this error code with another financial institution it simply means that those financial institutions are experiencing some issue that will generate the same error code even though the cause is different.
Maybe think of it in terms of your car's battery warning light on the dashboard. When that light comes on it simply means that there is some issue with the battery. It does not identify what the cause of the issue is. For instance, it could be caused by the battery having a low charge or by the battery failing or by corrosion on the battery terminal or by low battery acid in the cells or by damage to the battery or by the alternator not charging properly (and is that because the alternator is failing or because the serpentine belt is slipping), etc. So, lots of different possible causes but all trigger that battery light.
In the same way, an error code in Quicken for any financial institution is simply a notification that a type of issue exists but it does not identify what the specific cause of that issue is and that specific cause can be very different from one financial institution to another.
Quicken Classic Premier (US) Subscription: R61.20 on Windows 11 Home
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to clarify my question, and no one other than quicken knows this. How important is it to the financial institutions that they support quicken. If only 1 person uses quicken at vanguard they will drop it. but if a gazillion people use it then they will fix the problem yesterday.
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I agree!!!! Especially since we just crossed a month-end and fund and ETF dividends were distributed, and perhaps reinvested. These transactions have not been recorded, and I have no desire to do it manually.
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So, I just found this thread. In the same boat. Question: I changed my Vanguard connection to Quicken Connect. If Direct Connect is restored, how much history would I be able to download?
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@aardvarker Typically, up to 90 days of history.
Quicken Mac Subscription • Quicken user since 19930 -
You can get 18 months of history with a qfx download. That's the maximum allowed on Vanguard's site. Someone said that this issue may take Vanguard "several weeks" to resolve, so you may want to grab that history now as time slips by. You can probably grab all your history from a Quicken backup and somehow import it into your current file but I don't want to think about that - it may not be easy or possible.
If Vanguard does not provide an adequate solution (willing to wait several weeks), I'm transferring all my Vanguard accounts to Fidelity - I'm assuming the history will be there when I connect, but IDK for sure.
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its already over 2 weeks not working. I feel it's not that important to vanguard. I also feel that quicken is dying, I really hope not.
I believe if you switch to fidelity and create a new account in quicken, that transactions history is gone.
I will also leave vanguard but may look at something other than fidelity. I have some of my portfolio in fidelity and don't feel comfortable in putting 100% in one place.
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If Vanguard does not provide an adequate solution (willing to wait several weeks), I'm transferring all my Vanguard accounts to Fidelity - I'm assuming the history will be there when I connect, but IDK for sure.
If you switch your accounts to Fidelity, Fidelity won't have any history. So you'd want to download a QFX file from Vanguard before you make the move, so you can import it into Quicken. In Quicken, then you'd create the Fidelity accounts as manual (offline) accounts at first. That enables you to do a Transfer Shares transaction to move all securities from a Vanguard account to a new Fidelity account (you'll need to do this for each account); in Quicken, your Fidelity accounts will then open with a series of Add Shares transactions which will maintain the original date each lot was acquired. Doing it this way, you will have the proper lot history, and your investment Portfolio graph will show the continuity of your investments. After manually getting the Fidelity accounts set up with the history in this way, then you can connect them for downloading from Fidelity, being sure to specify to link to the existing Quicken account rather than creating a new one.
Quicken Mac Subscription • Quicken user since 19931 -
Other comments in this thread indicated that Vanguard is failing many other third parties - so I'm thinking it may be important to them.🤞
Quicken is not perfect, especially for serious investors, but it has made a steady stream of improvements over the last few years. Not dying IMHO. I use Quicken exports to other web tools and spreadsheets to get my own investment dashboard - quite easily.
If the history is not transferred, it is not a huge deal to me - I certainly have all my tax data exported to spreadsheets anyway. What's more important to me is the automatic daily updating (so it is not a manual drudge) and yearly tax reports that Direct Connect enables by providing detailed transactions.
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to clarify, I feel quicken is giving me a great value and I have no plans to stop using it. That is unless other financial institutions stop supporting it.
We don't know how many quicken users there are and we don't know how a financial institution sees the return on investment in them supporting quicken.
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If you move your Vanguard account to Fidelity the cost basis of your assets should transfer over to Fidelity (though it may take a few weeks to show up). The Transfer Shares transaction in Quicken Mac will create Remove Shares & Add Shares transactions that preserve your cost basis. And the rest of your account history is still in your Vanguard account in Quicken - you don't lose that either. Your tax reports should pull information from both accounts at the end of the year.
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