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Bank of America Missing from Financial Institutions on Loans

Austex3333

I recently got an auto loan from BOA and when I went to add it into Quicken, the only BOA that shows up is something called "Bank of America - Cash Pro". I have all of my checking/savings/credit cards in Quicken for BOA. Not sure why I can't add the loan as well?

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Sceptic

@Austex3333 if I go out to Tools→Add account, and search for Bank of America, I see it out there as a selectable FI. I also see other FIs, including Bank of America - Cash Pro. If your auto loan is available for an online connection it would use the FI - Bank of America. When you try to add it as a new account on Quicken but do not see it listed as an available account when you choose Bank of America as the FI, then that could mean that the auto loan is serviced by a third party.

Even if the loan cannot be connected to Quicken via online services, you can always set it up as a manual loan. It sometimes is the preferable method because online loans on Quicken do not show a payment history. If you set up a payment reminder for an offline or manual loan, the P & I will automatically be calculated for the loan payments.

Sceptic

@Austex3333 the other thing that sometimes it takes a few days after they issue the loan for it to show up as an available loan on Quicken. If the loan account does not show up as a selectable account, give a few more days and then check again.

splasher

Sceptic covered just about everything, but I will reiterate that the financial institution decides which type of accounts that are available for One Step Update downloads and BOA just might not support loan accounts. BOA support should be able to confirm whether loan accounts are downloadable by OSU.

Maybe a heavy BOA user with loans can confirm what is possible.