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Account currency Quicken Canada

jim@j

Quicken Canada continues to have problems with currency assignments. I’ve been using Quicken for many years and periodically my USD account with TD Canada reverts to CAD currency. Sometimes tied to Quicken updates. Sometimes likely caused by my own bank when creating the QFX file, it does not pay proper attention to the account currency. So some of these issues are caused by the Quicken software itself and some by the FI partner. For this to work, both must be mindful and attentive to the currency assignment. Likely not a high priority for Canadian FIs. My hunch is that the Canadian FIs are often to blame in not keeping up with Quicken updates. Their knowledge and attention to Quicken is exceptionally thin. Most FIs know nothing about Quicken. More work is needed by Quicken to ensure that their FI partners are understanding and constructing the QFX files correctly. As a user correcting this after a few weeks of not noticing it is very time consuming.

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Comments

Quicken Alyssa

Hello @jim@j,

Thanks for sharing your experience with this — I can see how frustrating this issue must be.

You’re right that changing the currency of an existing account is strange, and in fact, shouldn’t normally be possible.

To help me zero in, could you answer:

Where is your Quicken data file stored (local disc, network drive, other)?
Is that file being synced or backed up by any third‑party services like iCloud, Dropbox, OneDrive, etc.?
Did this issue start after a certain change — like an update, moving, or converting the file?

Once I have those details, we can see what else we need to check.

Arctic Hare

https://community.quicken.com/discussion/comment/20512335#Comment_20512335

@Quicken Alyssa I can vouch for @jim@j that this is a long running problem that has nothing to do with where the datafile is stored or synchronization. It is sometimes triggered by a Quicken update. Another trigger is/was having a period of 90+ days without any transactions occurring in a USD account and using Express Web Connect. That issue was resolved with RBC a few years ago with a bug fix - as result of me pursuing the issue with the development team - but the same problem is still reported from time to time particularly with TD bank.

Kevin Lee

Check the account currency after updates so any flips get caught early

Quicken Alyssa

Hello,

Thank you both for adding to this discussion with your thoughts and suggestions.

@Arctic Hare ,

Thank you for working with the development team on a bug in the past. Pretty cool when you get to see it through to resolution.

Since there isn’t currently an open ticket for this issue, we’ll need to go through the standard troubleshooting steps first before we can escalate it. This is important because if we escalate it to development without completing those initial steps, they’ll likely kick it back to us.

Once we’ve gone through the standard procedure and gathered the necessary information, we can escalate it with a clear case, which helps ensure a quicker and more effective resolution.

Thank you!

jim@j

Glad to see the interest in this issue. I agree that it would have little to do with the data storage location. BUT, I did some investigating and found a very strange and recurring issue with Online Setup. This was after spending almost a full day recreating the transactions for this one account. I now have a clean version with my TD Borderless account now in manual mode and showing as USD currency. I then made a test copy of the QDF and started to play with it. I went back to Online setup with the account correct as USD. I followed the prompts to setup directly from my FI - TD Canada. It went through the process fully and poof when it finished successfully and I went back into my Account Details, it now showed the account as CAD !!! Is this a bug within Quicken or is this some incorrect config in the API with TD for account setup? It's well beyond me to figure out but hopefully some Quicken engineers can figure it out. I'd be glad to collaborate as we fix this. But the key is that this currency shift happens every time that I update this account for online services.

Arctic Hare

It's not a bug with Quicken. The problem is actually caused by the financial institution. The downloaded dataset contains a field called [CURDEF] and the account will switch to whatever currency is defined in that field. Evidently, in your case, TD is providing the wrong value in the [CURDEF] field. This can be proven by looking at the logs. Quicken's escalated support is capable of assisting with this; however, the real challenge comes from how you get TD to correct the issue.

jim@j

Right. I had a hunch that it was the FI’s configuration. And you’re right, getting TD to pay attention to this will be very difficult even if they have a new CEO and new strategy. TD pays little attention to external financial software companies. As an example, for the longest time when listing the download formats they put Microsoft Money at the top. MS Money was disbanded many many years ago. TD doesn’t get it. And I’m a shareholder, small as it is. Quicken what is your capability or experience in getting Canadian FIs attention? Do they listen to you? Do you have an agreement that can be upheld to assure compliance with the API requirements. What can we do to help as your customers?

Arctic Hare

https://community.quicken.com/discussion/comment/20512769#Comment_20512769

It is possible to get Quicken to help with this, but I have found that you really need to push and follow up. There is an Online Banking Team at Quicken that can deal with this sort of issue. Best thing is to use the Report A Problem feature in Quicken and then call Quicken Phone support and get the issue escalated so that someone reviews the logs. When I had a very similar problem with RBC, I eventually got it solved, but it took about 18 months and many, many, many followup emails and calls with Quicken. Good luck!

jim@j

Thanks. Will give them a call. They do make an effort to help.

jim@j

One more data point. I tried creating a brand new Quicken file then set up my accounts for online access. All accounts were downloaded. However, in this new file, all of the currencies were set as CAD including my TD Canada USD account. This further reinforces that the issue is within the Quicken-TD API. I have initiated a ticket with TD Tech Support. To cover this, I will also seek to get Quicken to launch its own internal ticket. Hopefully one of these will lead to resolution. I don't want to go through another instance of having to recreate several months of transactions in my file.

Arctic Hare

I wouldn't refer to it as an API issue. When using Express Web Connect (One Step Update) TD's systems create a data file that is fetched by Intuit's aggregation server once per day; then, when you run One Step Update, your Quicken application fetches the data file from the Intuit server, which involves some path through Quicken Cloud. It is simple as TD needs to change "[CURDEF] CAD" to "[CURDEF] USD" - that's the entire fix that is required. As mentioned, you can validate by this by reviewing the log files.

Although EWC and Web Connect use different processes, you could also check whether the same behaviour happens using Web Connect. And, it is easier to look at the Web Connect QFX data file and search for the [CURDEF] field as well.

Finally, I highly recommend you wait until Quicken gets EWC+ implemented in Canada before going back to One Step Update for transaction downloads. No timeline has been published on the EWC+ implementation, however.

[Removed-Speculation]

Tealeaf3

Using Quicken Classic but not downloading from TD or any other bank, there seems to be no location where you can see the Exchange Rates they use. My account is based on C$, but I find that in order to figure out the C$ value of US$ items, I have to deduct all the C$ items to come out with the C$ value of the US$ items.

And this is just my Investing accounts which I keep/show separately. Heaven knows if I look into my other foreign exchange accounts. Thanks goodness I keep separate Xcel records.

Anyone know anything? I find call centre Staff, usually not v. knowledgeable.

Arctic Hare

https://community.quicken.com/discussion/comment/20517680#Comment_20517680

I recommend you start a new post/thread. It isn't clear what issue you are seeking help with, but what is clear is that it is not the same issue/concern as the original poster.

If you are using Quicken correctly, it handles currency exchange rates very well and accurately. Even if you aren't downloading transactions from any financial institution, you need to run One Step Update periodicaly to update/download the currency exchange rates. Or, so set it up to run that automatically. If you aren't downloading currency exchange rates, then, yes, you are going to run into valuation issues.