USAA Money Market tracking in Quicken

I have just opened a Money Market account with USAA, and I cannot figure out how to add it to my list of Quicken accounts for tracking purposes.  Money Market isn't an account type option that I can see.  Help?

Comments

  • NotACPANotACPA SuperUser
    edited January 16
    Is this Money Market account within a Brokerage account?  Representing the cash portion of the account?  IF so, there's an option on the Brokerage Details screen (TOOLS, Account List, and then click EDIT across from the account name) to "Show cash in a checking account" ... which will create a Checking account for the MMF.

    If Not, then just create a Checking type account.  Your MMF acts like a checking account, and so a MMF account type isn't needed.
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  • crp7556crp7556 Member
    edited January 17
    Thank you for your recommendations. This worked to fulfill our needs for the money market.
  • mshigginsmshiggins SuperUser
    edited January 18
    From C. D. Bales:


    "Money Market isn't an account type option that I can see".



    No it isn't.



    Actually, I don't see where USAA has such a thing as a Money Market "account" either.



    I think there are two possibilities: you have a savings-type account whose interest rate is linked to money market interest rates; or you have an investment-type account that can hold a Money Market mutual fund, where you can buy, sell and reinvest in "shares" of that fund.



    You can probably tell by looking at your USAA home page to see whether your account is listed in the Banking section or the Investments section.



    USAA banking accounts use a different Quicken financial institution name (USAA Federal Savings Bank) than USAA investment accounts (USAA Investment


    Management Co.).



    When you try to setup the account in Quicken:


    - if your USAA account is in their Banking section, select "Savings" account in Quicken and use the USAA banking financial institution name


    - if your USAA account is in their Investments section, select "Brokerage" account in Quicken and use the USAA investment financial institution name



    To setup the account:


    - Click the + sign at the top of the Quicken Account Bar (or "Add Account" in the Account List)


    - In the resulting dialog, select the appropriate account type


    - In the resulting dialog, click the blue Advanced Setup link at the bottom


    - In the resulting dialog, key the appropriate USAA financial institution name in the box, then click Next


    - In the resulting dialog, select Direct Connect (it is free with USAA), then click Next


    - In the resulting dialog, key your USAA member number (no leading zeros, no


    punctuation), and your numeric 4 digit USAA Pin, then click Connect (you can also tell Quicken to save the USAA password in the Vault in this dialog)


    - Choose to Add the MM account (give it your own nickname, if desired), then click Next


    - When the download is complete, click Finish
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