capital one moving to etrade
William A Siebert
Member
I have an account with Capital One Investing, which tomorrow will be transferred to Etrade. Do I simply rename my existing account in Quicken and update the log-in credentials for the Etrade or must I close that account in Quicken, open a new account maned Etrade in Quicken and transfer 18 years worth of transactions? What will this do to the information shown in the investing tab?
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I wouldn't get in too big a hurry, do you really want to be the trail blazer on this changeover? If you wait a couple of days, there will probably some first hand experience from other users.
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In that case I certainly would just deactivate/reactive.
But in fact the more I think of this there are "risks" involved.
Quicken decides if the downloaded transactions are new or not based on the unique Id. Hopefully they don't change them in the process so that people will get a lot of duplicate transactions.
And be sure you make a backup before doing it!
Well here hoping it all goes smooth for you. :-)
If you do account transfer it gives the security but no lots or price history. So it seems like de-activate-restart Q. and activate the cap 1 account with the E-Trade info and everything is there.
And be sure you make a backup before doing it!
I backed up but not sure how I would use a backup to correct anything.
Be careful.
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Been using Quicken for 25 some years. Disappointing that it can't do what I need.
To see placeholders, you have to change the setting in Preferences to show hidden transactions. If any transaction does not have a proper basis, you will get the * in the overview. Placeholders never have a basis.
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When I click on "Holdings," all shares are gone but each account shows an odd cash entry still there. Not quite sure why, frankly. When I go to the Etrad website to see my new Etrade accounts online, everything from the old Capital One account seems to be there.
Now I just need to see if using your process ( deactivate/activate) successfully converts the fomer Capital One accounts in Quicken to the new Etrade accounts, including cost basis. For some reason I am not optimistic that will happen.
Wish me luck.
One of my securities spun off a new company a few days before the conversion so I have a placeholder in ETrade. The position still appears in Cap One. I called Cap One and was told there is still some corporate activity to finish up so the position did not transfer over but would as soon as whatever corporate activity is completed.
Until that happens I will leave things alone in Quicken. I can find enough ways to confuse Quicken (or vice versa) without going out of my way. What Quicken doesn't know won't hurt me. Once the position appears in Etrade I will use the deactivat/reactivate process.
TL;DR -- the unlink / link worked for me.
I started with ShareBuilder I think in 2015. Moved to Capital One Investing. Now moved to E*Trade. (Curiously, its called "Quicken E*Trade" inside quicken so are they owned by the same company?).
I found my quicken "file" (which is actually a directory full of gunk) via "Show **** in Finder" under File. Then quit Quicken, made a copy (via the Finder) of my data to my desktop. Then started Quicken and did the "unlink". This involves going to Edit the account, change the download settings, and setting them to "manual". I quit Quicken and made a 2nd backup.
Then started Quicken back up and linked it to E*Trade via Edit the account. I searched for "Trade" and found the Quicken E*Trade entry under "Other". Picked that, filled in my user id and password and it linked.
I had a dividend and a reinvest transaction which were new. They were added. I didn't see any other changes. It appears to be working. I'll update if I find problems.
I had only one Capital One Investing account and I now have only one E*Trade account.
I created a test backup of the Quicken file on my Desktop. Then deactivated the Capital One account. Then saved the file and exited. Opened a new file from the backup. Went back into the deactivated Capital One account, changed the name to "E*Trade (CapOne-Sharebuilder)" to distinguish from my existing E*Trade account, entered the new E*Trade account number and setup a new online service in Quicken. I followed the instructions (yes, Quicken found the account and called it "Quicken E*Trade" for some reason, entered my new E*Trade username and password, pressed "Finish" and, voila, everything that used to be CapOne was now E*Trade. I confirmed the balances, saved the file, created another backup, deleted the test backup from my Desktop, and had a drink. Glad and more than a little nervous that it might not work, but it's all good.
Hope others find this description helpful!
On a slightly different topic, that page says that it has "Free" trades. And I've heard that Robin Hood does as well (and their web page seems to say the same thing). How do those guys make money? Anything that is "free" I'm very skeptical of.
The ReinvDiv is if the dividend and the reinvest is entered as a single transaction (based upon my piddling around today).
So far, it appears as if E*Trade is doing it correctly with a Div followed by a Buy.
I start ShareBuilders 1/1/2015 and I started using Quicken (this latest time) 1/1/2017 and I had entered some things like the ShareBuilders (CapitalOneInvesting) back to somewhere like 3/31/2016. Probably because that is what was offered for download.
Due to various mental disorders :-) I started down the quest to make my E*Trade exactly match with the cash balance as well as the shares for each stock. Happily, I've now succeeded.
One thing I did which others might want to do (and it has already been suggested up above). You can still go to the Cap One web site and download all of the transactions to csv files. Its sorta tedious. You have to do it year by year but, for me, four years wasn't bad.
With Edward Jones, you get the ReinvDiv alone and that is the way I prefer it.
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