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Currency Setting On Existing Account (Not conversion)

KateKate Member
I am using Quicken Canadian Version R15.24 for Windows. After using this for many months with no issues, inexplicably, the transactions could not be downloaded. I kept getting an error message indicating that Quicken could not connect to my accounts. So, I performed the one step update, entered my vault password and the connection appeared to be restored. All of the account balances were out of whack and so I went through the process of downloading transactions to each account to see if that would fix things. For the most part, it did, except suddenly, my savings account had “US” beside it in my account list. I could not go into the account and edit it to make it CDN dollars as that option was grayed out. Now, when I have transactions in that account, Quicken is converting the money to US. Attempts to fix this using Quicken support documents have failed as the steps do not work in the Canadian version. I am hoping this is a simple fix? Do I have to delete the account (and all of its history :-( )and then add the account back in and download all of the transactions? I’m not trying to convert any currency. I just need my account to appear as CDN. Most of the help articles I find when I enter ‘currency settings’ are concerned with actually converting multiple types of currency accounts.

Comments

  • John BacogiannisJohn Bacogiannis Member ✭✭
    edited January 2019
    Hi.



    I have had the same problem too in the past.



    In regards to your savings account showing US$ that is because there probably hasn't been a recent transaction to your savings account.



    Transfer $.01 (one cent) from checking or any other account to your savings account. Next business day, do a one step update and see if it fixes the problem.



    Worked for me and others
  • Arctic Hare (H&B 2019 Canadian)Arctic Hare (H&B 2019 Canadian) SuperUser ✭✭✭
    edited December 2018
    The currency setting switching issue is a long running bug with the Canadian version of Quicken. Quicken is working on this issue and very recently (just days ago) have determined the cause of the problem. They are now working on a plan for a fix. No ETA for the solution yet.

    The "fix" that John suggested will restore the correct currency setting until such time that you don't have transaction for an extended period of time. Now that Quicken has isolated the cause of the issue, I am hoping that we will have a more permanent fix in the near future.
  • Hendrik Gerrit MerisonHendrik Gerrit Merison Member ✭✭
    edited January 2019
    Hi Kate, I also had an issue like yours that popped up suddenly and unexpected, but it turned out that my BANK had made a change on their website. Perhaps that's your problem and I would suggest you check whether your account is STILL properly linked.
    Remember that computers are STUPID devices that only recognize the difference between a zero and a one and therefore the old saying... Garbage In; Garbage Out ... still is valid.
    In the older days of Internet operations the term HANDSHAKE was used, now the LINK is more often used.
    Just like what  you do when you meet a new interesting person... you shake hands.
    Your computer, i.e. computer program must KNOW what to LINK to and therefore you must assure that your Quicken account is PROPERLY LINKED to your BANK account.
    You do so via ACCOUNT LIST (under TOOLS) then select EDIT on the offending account and check the ONLINE SERVICES tab.
    The alternate route is HELP -> Quicken Support and then take your pick of what's offered.


  • Arctic Hare (H&B 2019 Canadian)Arctic Hare (H&B 2019 Canadian) SuperUser ✭✭✭
    edited January 2019

    Hi Kate, I also had an issue like yours that popped up suddenly and unexpected, but it turned out that my BANK had made a change on their website. Perhaps that's your problem and I would suggest you check whether your account is STILL properly linked.
    Remember that computers are STUPID devices that only recognize the difference between a zero and a one and therefore the old saying... Garbage In; Garbage Out ... still is valid.
    In the older days of Internet operations the term HANDSHAKE was used, now the LINK is more often used.
    Just like what  you do when you meet a new interesting person... you shake hands.
    Your computer, i.e. computer program must KNOW what to LINK to and therefore you must assure that your Quicken account is PROPERLY LINKED to your BANK account.
    You do so via ACCOUNT LIST (under TOOLS) then select EDIT on the offending account and check the ONLINE SERVICES tab.
    The alternate route is HELP -> Quicken Support and then take your pick of what's offered.


    @Hendrik's diagnosis of this issue, and his respective advice are simply incorrect. This issue has nothing to do with a change to the bank's website. This currency setting switching issue is a bug in the Canadian version of Quicken. The bug was recently confirmed by the Quicken Product Development (i.e. they have isolated the specific cause of the issue). I understand that work on a bug fix for this issue has commenced, but they don't have an ETA to release the fix yet.
  • Unknown Member
    edited January 2019
    Similar issue but with a Line of Credit account.  It does get used approximately 4 to 5 times a month.  Set to US Currency and cannot be changed.
  • Arctic Hare (H&B 2019 Canadian)Arctic Hare (H&B 2019 Canadian) SuperUser ✭✭✭
    edited January 2019

    Similar issue but with a Line of Credit account.  It does get used approximately 4 to 5 times a month.  Set to US Currency and cannot be changed.

    @Robert: If you are making transactions each month and the currency setting got switched, that is a different issue. In that case, it is probably that the bank has the wrong <CURDEF> in the QFX file. I've seen a couple cases of that in the past.

    Which financial institution? 

    Can you download the QFX file using Web Connect? If so, you can open the QFX file in a text editor and check whether the <CURDEF> is set to CAD or USD. If it is USD, then that is what is causing your problem. And that would be a bank problem, not a Quicken problem. It doesn't happen often, but sometimes the banks put the wrong <CURDEF> setting in the QFX file.

    There seems to be two separate issues being discussed in this thread:
    1. Where the bank sets the wrong <CURDEF> in the QFX file; this issue is caused by incorrect information in the QFX file provided by the bank; hence, only the bank can fix this issue; in the interim, if you are using Web Connect, you could use a text editor to correct the <CURDEF> before you import it into Quicken (each time), but this is a nuisance; and
    2. Situations where there accounts that haven't had any recent transactions (e.g. no transactions in the last 90 days) have the currency setting switched until such time that there is a transaction in the account,and then it switches back to the correct currency setting. This issue is the result of an actual bug in the Quicken software; it is not caused by the bank and, other than initiating a transaction to reset the currency, there is nothing you can do to fix it.
  • KateKate Member
    edited January 2019

    Hi.



    I have had the same problem too in the past.



    In regards to your savings account showing US$ that is because there probably hasn't been a recent transaction to your savings account.



    Transfer $.01 (one cent) from checking or any other account to your savings account. Next business day, do a one step update and see if it fixes the problem.



    Worked for me and others

    This fixed the issue.  Thank you. 
  • Arctic Hare (H&B 2019 Canadian)Arctic Hare (H&B 2019 Canadian) SuperUser ✭✭✭
    edited January 2019

    Hi.



    I have had the same problem too in the past.



    In regards to your savings account showing US$ that is because there probably hasn't been a recent transaction to your savings account.



    Transfer $.01 (one cent) from checking or any other account to your savings account. Next business day, do a one step update and see if it fixes the problem.



    Worked for me and others

    This fixed the symptom, not the problem. If you go another 90 days without a transaction the currency will switch to the wrong currency again. The permanent fix requires a programming change.
  • Unknown Member
    edited January 2019

    Similar issue but with a Line of Credit account.  It does get used approximately 4 to 5 times a month.  Set to US Currency and cannot be changed.

    TD Canada Trust is the financial Institution.
    I have only noticed the issue since the last update to the Quicken software.  It may be coincidence but...

    Thanks for the suggestion.  I will try the text editor option.
  • Unknown Member
    edited January 2019

    Similar issue but with a Line of Credit account.  It does get used approximately 4 to 5 times a month.  Set to US Currency and cannot be changed.

    The CURDEF shows CAD from the bank.  When I try to load it into Quicken it does not recognize the account (it hasn't changed in 8 years) and wants to create a new account or add the transactions to one of my credit cards.

    Before I create a new account I will try to do a download from Quicken (one-step?). 

    Edit: It won't download any transactions for the Line of Credit account.  Is there a way to force just that account to download?

    Edit: Found out where to download just this account.  It will not find the Line of Credit Account at TD Canada Trust and if I download the TD Canada Trust Line of Credit account to Quicken, it won't give me the option of using the Quicken Line of Credit account to download into.

    The account on both ends has not changed for years.  Will probably end the original account in Quicken and create a new one as of 01/01/2018 with the download from the bank.
  • Arctic Hare (H&B 2019 Canadian)Arctic Hare (H&B 2019 Canadian) SuperUser ✭✭✭
    edited January 2019

    Similar issue but with a Line of Credit account.  It does get used approximately 4 to 5 times a month.  Set to US Currency and cannot be changed.

    @Robert: you shouldn't have to create a new account in Quicken. In order to determine next steps...

    Am I correct in assuming that you normally download transactions using One-Step-Update? If that is a correct assumption, try updating the problem account by clicking on the lightening bolt Update Now from the Gear icon menu when you are in the problem account's register. Do this twice in succession. This initiates a different download process than OSU. What happens when you do this? Also, how many days has it been since the last transaction was posted to the problem account? Are there any transactions that have been posted to the account (at the bank), but have not downloaded into Quicken yet? How old are those transactions? If you download a QFX file from the CU and open it in a text editor, can you see the most recent transactions (which have been posted to the CU account, but are not appearing in Quicken)?
  • DJSDJS Member ✭✭
    edited January 2019

    Similar issue but with a Line of Credit account.  It does get used approximately 4 to 5 times a month.  Set to US Currency and cannot be changed.

    Long time Cdn Quicken user (Windows, now on 2019 R15.24), and have just begun experiencing this incredibly annoying "switch" to US currency for my 2 bank accounts and MasterCard account, all with RBC Royal Bank. Spoke with Quicken support this morning, and as indicated above, was told there was a fix in the works and to just wait until next patch.  I didn't have much time this morning and thought that it was simply a matter of the $US symbol appearing before the amount in the register.  HOWEVER, I've now realized that any reports I run using data from these accounts are now unusable because the USD to CAD exchange rate is applied (inflating all figures by about 32% these days). Tax time is coming up and it sure would be nice to have reports in my actual currency.  I hope this fix can be implemented quickly.      
  • Michael CooperMichael Cooper Member
    edited January 2019

    Similar issue but with a Line of Credit account.  It does get used approximately 4 to 5 times a month.  Set to US Currency and cannot be changed.

    I spent countless hours on this in December then last week, I started from scratch only entering 4 accounts. Everything seemed to be going smoothly even with OSU but then randomly after one update, the US switch happened.
    Here are my accounts before:



    Then the random switch to USD:




    Here are the Account Details with Account Currency changed to USD and of course greyed out and unchangeable:




    Here is my version information:

    image


    Does this look like what everyone else is experiencing?
    This is extremely annoying!
    I had carefully saved backups after every change and now am doing any updates by downloading a .qfx file from the bank and then selecting File|File Import| and selecting Web Connect (.QFX) file
    So far this seems to be working, and seems a bit easier than the complex work around described above.

    Mike C
    Victoria



  • DJSDJS Member ✭✭
    edited January 2019

    Similar issue but with a Line of Credit account.  It does get used approximately 4 to 5 times a month.  Set to US Currency and cannot be changed.

    Mike C. yes, this is similar to what I am experiencing.  I have come to the conclusion that the One Step Update process is what causes this random switch.  When I push the QFX file from the bank it will put the currency properly back to CAD.  If I run OSU, it will flip it back to USD.  Very very frustrating.  And for this we pay an annual subscription fee ?  Come on Quicken, this is a big problem for us Canadian users as it distorts all banking reports.
  • Arctic Hare (H&B 2019 Canadian)Arctic Hare (H&B 2019 Canadian) SuperUser ✭✭✭
    edited January 2019

    Similar issue but with a Line of Credit account.  It does get used approximately 4 to 5 times a month.  Set to US Currency and cannot be changed.

    @DJS: I have worked closely with Q's PD team to diagnose this issue (which has been plaguing me for years). I also bank with RBC and also experience the issue with OSU; however, your comment about downloading a QFX strikes me as odd. Here's why...

    In my experience, the currency setting switching issue only occurs when there have been no transactions in an account for more than 90 days, which is the download history term for RBC. What strikes me as odd about your comment is that when I try to download a QFX from RBC's online banking website, it simply pops up a message saying no transactions to download (if there are no transactions to download). I never get a QFX file with no/null transactions. 

    Thus, my question to you is, are you actually experiencing the currency setting switching issue when transactions are downloaded for the account affected by currency setting switch? That would be inconsistent with my experience. Normally, you can get the currency setting (temporarily) reset by simply initiating a transaction with the affected account and downloading that transaction. For example, transfer $0.01 into the affected account and download that transaction and the currency setting with revert back.

    If you are saying that you can actually download a transaction into the affected account using OSU and that doesn't (temporarily) fix the currency setting, that is inconsistent with my experience and what others have reported and documented. In which case, we might want to get Quicken to have a look at your log files.
  • DJSDJS Member ✭✭
    edited January 2019

    Similar issue but with a Line of Credit account.  It does get used approximately 4 to 5 times a month.  Set to US Currency and cannot be changed.

    Hi Arctic Hare... thanks for weighing in. Some further info on my situation:
    1. I have activity at least every 2 or 3 days in each of my accounts with RBC.  (Chequing, eSavings and Mastercard).  In view of that, I don't think the 90-day "no transaction" aspect is at play in my case.
    2. Approx every 3-4 months I've had to go through the "hard reset" deactivation-activation process for the 3 banking accounts when I detect that OSU is not bringing in any transactions when I know there are some pending. This usually restores things just fine.  A pain in the neck to do, but it works.
    3. Two days ago, when I encountered the 0 transactions situation using OSU, I did a QFX download to capture them successfully.  I then did the quick simple "Reset Account" in hopes that it would fix OSU without having to go thru the more onerous deactivation-activation process.  When I ran OSU after that, my accounts were randomly switched to USD.  (Never happened before)
    4.  I then spoke with Quicken Support and had them walk me through a hard reset deactivation-activation process just to make sure I wasn't missing anything.  I then ran OSU and accounts are still in USD.  Agent then told me a fix from Quicken was coming and to wait for an update.
    5. This morning, again OSU did not bring in 2 credit card transactions so I loaded them in via QFX.  It changed the currency in my credit card account back to CAD, leaving the other 2 accounts in USD as there were no transactions for those accounts.
    6. I guess what I'm going to do for now is avoid the OSU process until I see indication that a patch has been created to fix.      
  • Arctic Hare (H&B 2019 Canadian)Arctic Hare (H&B 2019 Canadian) SuperUser ✭✭✭
    edited January 2019

    Similar issue but with a Line of Credit account.  It does get used approximately 4 to 5 times a month.  Set to US Currency and cannot be changed.

    @DJS: I suggest that we should delve into your situation as a bit of a separate issue. I suspect your situation is complicated by a second issue, which might be nothing more than an incomplete understanding of how OSU works.

    Firstly, it is important to understand that there is normally a delay between a transaction pending, posting, and available for download. For example, if you made a credit card purchase on a Saturday, that transaction wouldn't download by OSU until Tuesday, but would be available by QFX download (Web Connect) on Monday. This is because the bank would convert the pending transaction to posted on Monday and then the Intuit Aggregation server (which is used by OSU) wouldn't pick up the transaction until it logged into RBC sometime Monday night, making it available to OSU early on Tuesday.

    If you can't accept the delay involved with OSU, you can force the Intuit Aggregation server to do a real time login by using the Lightening Bolt Update Now from Gear Icon in the upper right hand corner of the respective register in Quicken. You seem to have been resorting to a de-activate/reactivate cycle because you think OSU isn't working, but it is really normal operation for that process. The work around is using the lightenting bolt update now... or simply waiting until Tuesday. Note: OSU will, normally, only download new transaction on Tuesday through Saturday; if you do OSU daily, you won't normally see new transaction on Sundays and Mondays. There are some exceptions to this... but I risk getting into too much detail here.

    N.B. Quicken's top tier tech support has changed there protocol for dealing with issues with OSU. They now recommend avoiding the Reset Accounts and avoiding de-activate/reactivate unless absolutely necessary. I suspect, in your case, you thought it was broken, but it was just normal delay.

    I have many accounts with RBC spread across a couple of client numbers. I download using OSU everyday and, barring a few exceptions, have no issues. I strongly expect that you were jumping the gun, thinking OSU was broken because you could get the transaction with Web Connect that didn't come down with OSU. It wasn't broken. Just delayed.

    Happy to help you further to work through these issues.

    I think your OSU / Web Connect confusion is contributing to your currency switching. We might have walk you through a CC Reset.
     
  • Michael CooperMichael Cooper Member
    edited January 2019

    Similar issue but with a Line of Credit account.  It does get used approximately 4 to 5 times a month.  Set to US Currency and cannot be changed.

    Yes, I am actually experiencing the currency setting switching issue when transactions are downloaded for the account affected by currency setting switch. All of the accounts where the currency was switched were active and had recent transactions. The only consistent issue I could identify was using the one step update process by clicking on the "gear icon" on the top right hand corner of the account window and selecting "update now" with the lightning bolt icon. I am now logging on to my CIBC accounts and downloading a qfx file then importing it into Quicken. So far so good. I would rather have a 3 step process that is safe instead of a one step process that screws up my data!
    Mike C
  • DJSDJS Member ✭✭
    edited January 2019

    Similar issue but with a Line of Credit account.  It does get used approximately 4 to 5 times a month.  Set to US Currency and cannot be changed.

    @Arctic Hare:  First of all, thanks very much for your detailed input.  You certainly know your stuff :)  
    Re the refresh and deactivate/activate processes, it's curious that the agent I spoke with didn't hesitate to walk me through them as a means of correcting the currency issue. I guess the top tier guys have yet to promote the new protocol to front liners.
    Also, while I appreciate the currency switch issue is likely a separate problem in my situation, it does seem triggered all of a sudden by use of OSU.  I'm now hesitant to use the traditional OSU button because until the currency fix is employed, there's a chance my data gets messed up. It seems the "safest" approach is to just push the QFX file as it keeps things stable.
    Question: Going into the individual register and using the lightning symbol update, doesn't that still attempt to update all bank accounts associated with the same Client Card number?  Isn't OSU doing the same thing (apart from the investment quotes retrieval)?
    Thanks
  • Arctic Hare (H&B 2019 Canadian)Arctic Hare (H&B 2019 Canadian) SuperUser ✭✭✭
    edited January 2019

    Similar issue but with a Line of Credit account.  It does get used approximately 4 to 5 times a month.  Set to US Currency and cannot be changed.

    @DJS:
    A key difference between OSU and the lightening bolt update now command is that OSU fetches transactions that are already on the Intuit aggregation server; whereas the Update Now approach triggers the aggregation to login to your bank account (at that very moment) and get the most recent transactions from your bank's website. Thus, the Update Now can obtain transactions, normally, one day earlier than OSU. There are some caveats to this, but, suffice to say, Update Now triggers the aggregation server to, right then and there, go get transaction from your bank, whereas, with OSU, the aggregation server just feeds you whatever transactions it found last time it logged into the bank, which is typically the night prior.

    Using Update Now can also resolve some of the CC-XXX errors. I bank with RBC and BMO and, from time to time, there are hiccups with OSU with each of them. In most cases, I can resole those CC-xxx errors by doing a lightening bolt update now (when OSU throws an error code).

    Also, Update Now only does one banking client number and no quotes, etc. OSU does all client numbers at all banks and all quotes. In the US version OSU can do more.

    As for the currency setting switching issue, I'm going to attempt to get Quicken PD to review this thread. There is a possibility that they will reach out to you for log files via the email account you used to sign up for GetSat.
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