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Quicken Unable to Verify Financial Institution - QFX

TagTommyRocket

I have been downloading QFX files from my Finanical Instituation (TD BANK) for several years. Today I suddenly received this message when trying to open the document (which imports the transactions automatically into the correct account on my Quicken software.) "Quicken is currently unable to verify the financial institution for this download. Please try again later." Any idea what this is about and what the workaround might be.

I don't use webconnect because it has seriously screwed up my record-keeping in the past by importing transactions dating too far back.

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Comments

UKR

Looks like TD Bank pulled the plug on downloading QFX files by requesting a profile update with Quicken (and Intuit as the download service provider).
At the same time TD should have updated their website and removed all QFX file download support, too.

Did they not send out emails and/or website messages about this change?

You will have to begin using One Step Update (OSU).
Yes, the first time you download using OSU after (re-)activating the account for downloading, you will get a download containing 60 - 90 days' worth of old transactions and you will have to cleanup those duplicates.
I recommend you turn off "automatically accept downloaded transactions" before you do that. This way you can delete duplicate downloaded transactions from the Downloaded Transactions tab area before they hit your register and cause a mess.
Future OSU downloads will only contain new, not previously downloaded transactions.

NotACPA

Expanding upon the reply from @UKR, anytime that you change download methods (between Direct Connect, Web Connect and Express Web Connect+) there's a probability that previously downloaded transactions will be re-downloaded.

That's because the FITID (Financial Institution Transaction ID) that Q uses to identify dupes is generated differently by those methods (i.e., the bank and Intuit don't create them in the same way), and thus Q doesn't recognize them as dupes.

SO, there's a clean-up involved. BUT, as long as you stay on the same download method, you shouldn't experience duplicate transactions.

TagTommyRocket

Thanks for the help. I have avoided OSU until now but I have turned off Automatic Entry so this should prevent the duplicates so that I can manually confirm each transaction.

Thanks for the insights.