"Improve Connection"? Why, what, huh?

Question

Today I noticed something, but don't understand it.

Of the 21 financial institutions I have QW connected to, the oldest (Comerica), and frankly the most reliable one  in terms of downloading transactions , says I can "improve connection".    When I click it, it wants to sell me on "Direct Connect".    What is that, and why do I want it?   Do I not already "direct connect"?   How would I find out if the username and password is different from the one I use on their online banking website?     Why do I want to jeopardize the most reliably downloaded account?  Please, community, help convince me why I want to do that.

While we're at it, what is "Express Web Connect" (for Vio) and "Express Web Connect+" (for Citibank) and how does it differ from whatever the Comerica account has been using reliably for the past three and a half decades?

Thanks!

Windows 10 (extended support)

Boatnmaniac · Answer

@Patrick Larkin - It appears that Commerica charges a $10.95 monthly fee for DC use with business accounts and $15.95 for DC Bank Bill Pay.  But I did not see any DC fee listed for personal accounts.

I agree with @NotACPA's statement that DC is generally the most reliable and fastest connection method.  But I am also a firm believer in the "If it ain't broke, don't fix it" saying.  So if your current connection method is meeting your needs and you have been happy with the reliability of that connection with Commerica, then I would ask why you would want to change from it to DC?

However, if you have a personal account and if you do write checks then perhaps a DC connection with DC Bank Bill Pay enabled is a feature you might really like to have.  DC Bank Bill Pay is a feature where we can set up bill payments and transfers between accounts at the same bank in Quicken which are then sent to the bank.  The bank will then process and pay the bill or do the transfer for you.  This is usually done at no additional cost to the user.  DC Bank Bill Pay (not to be confused with Quicken Bill Manager Check Pay and Quick Pay) is a feature that is only available with a DC connection and when the bank supports DC Bank Bill Pay in addition to standard DC.

If you are interested in taking advantage of DC with or without DC Bank Bill Pay, you should first contact Commerica first to confirm whether or not there would be a monthly fee you would need to pay and, second, to find out what their requirements are for login (most but not all require a unique password and some but not all require a unique userid).  Also, there often needs to be an authorization process set up in your online account before you can start to use it.

Once you get that clarified, you can then proceed to set up that "improved connection" method and enable DC Bank Bill Pay for the account in Quicken.  Post here if you would like assistance in how to do that.  I or someone else can help to guide you through that process.

Quicken Kristina · Answer

Hello @Patrick Larkin,

Thank you for reaching out! That "improve connection" option is typical when you're connected using Express Web Connect and Direct Connect is available.

To answer your questions about the different connection types:

Direct Connect (DC) is a direct connection between Quicken and your financial institution. It may require a sign-up process through your financial institution. As @NotACPA said, some financial institutions charge a fee for this service.

Express Web Connect (EWC) uses an aggregation service to download your updated information from the financial institution.

Express Web Connect Plus (EWC+) is similar to EWC, but it is considered more secure because, instead of storing your login credentials, you authorize the connection through your financial institution, which issues an authentication token that is used in place of credentials to download updated account information.

For information about the different connection types, I recommend reviewing this article:

https://www.quicken.com/support/how-quicken-connects-your-bank/#section-windows-1

.

I hope this helps!

NotACPA · Answer

Your current connection method,  to all of your accounts, can  be found in the  "Transaction Download" column, next to each of the accounts at TOOLS, Account List.

"Direct  Connect" is generally considered to be the most reliable  download method into Q.  If your bank/brokerage/card offers it you should consider it unless the bank charges a fee that you don't want to pay.  Not all charge such fee.