Truist vs Wells Fargo

Mike_L

Which works better with downloading transactions and transfers from checking and savings accounts with Web Express in Quicken, Truist or Wells Fargo?

Mike_L

When I use my current facility, I make all transfers with the banks app. I never have problems with that. I have 8 accounts at the facility.

However, when quicken downloads the transfer transactions, there usually are problems. The account where the funds are actually transferred from are identified in the correct account in quicken, however, the account transferred to is often incorrect and there are also, sometimes, quicken transactions showing the transfer also occurring in other accounts. As my wife makes all the transfers, I usually have to go to the bank site to verify which transfers are correct in quicken and correct the erroneous ones and delete the ones recorded in the wrong accounts.

I was wondering if anyone had problems with transfers at Wells Fargo as I was thinking about possibly moving my accounts there.

UKR

For best results I recommend you manually enter transfer transactions into your register BEFORE you download transactions from the bank which contain the transfer confirmations. For recurring transfers use scheduled reminders and enter them a day or two before the due date.
Be sure to use distinct Payee Names for each transfer / credit card payment to avoid confusing Quicken - memorized payee entries.
That takes the guesswork out of the downloading process. Because a correctly entered transfer transaction already exists in your account registers, the download process should just match the downloaded transfer transaction to the existing one in both accounts.

NotACPA

Also note that, in the specs for the downloaded file, there's no provision for the "to account", only the account where the transaction took place.

SO, if Q is reflecting a "to account" in the "from account" it's guessing, based upon other data in your file

All of which is why you should manually record the transfer. It's the only way to be sure that it's right.

Mike_L

That makes a lot of sense. It seems like the from account was always in the right account but Q was having problems with the to account.

The manual entry in Q may just solve my problem.

Now I need to tell my wife to let me know when she transfers funds. 😂