Express Web connect
I am using Quicken Starter
Year: 2019,
Version: R16.16,
Build: 27.1.16.16
Edition: Canada
I just changed my connection type of several RBC accounts and a TD account from Web Connect to Express Web connect.
Everything seems to work fine so far, One Step Update is working to update the accounts
I have a couple questions about using the scheduling function.
If I schedule to overnight, do I leave Quicken open or not?
What happens if my computer goes to sleep?
Are there any other drawbacks to scheduling updates?
Thanks
Year: 2019,
Version: R16.16,
Build: 27.1.16.16
Edition: Canada
I just changed my connection type of several RBC accounts and a TD account from Web Connect to Express Web connect.
Everything seems to work fine so far, One Step Update is working to update the accounts
I have a couple questions about using the scheduling function.
If I schedule to overnight, do I leave Quicken open or not?
What happens if my computer goes to sleep?
Are there any other drawbacks to scheduling updates?
Thanks
0
This discussion has been closed.

Comments
I don't use the scheduling function because it is incompatible with having a password on your Quicken file.
If you don't have a password on your Quicken file and you use the scheduling function, then your PC will need to be awake to do the update. You can set up an event to wakeup your PC, depending on what sleep state it is in, etc. All this considered, I find it much easier to just push the OSU button when I go into Quicken. Also, Quicken recommends that you NOT keep the Quicken software open on your PC. Honestly, I am guilty of keeping Q open most of the time, but it is not a best practice.
I haven't been able to fully test. The initial download seemed to work properly, but now that there are no more downloads, when I click the OSU button, the OSU summary indicates the correct time of the download, and zero transactions (because there are no new ones)
So I'll likely have to wait a few days to be fully confident.
I don't understand exactly what you mean when say EWC 'fetches' new transactions once per day.
Doesn't it fetch new transactions whenever you click the OSU button?
I think you may mean that it can only be scheduled once per day.
I agree that the advantages of scheduling OSU may not be worth security risks.
The dates/timing of transactions downloaded from the bank website seem identical to downloading with OSU.
A couple more questions.
Now that I've switched to EWC, will Web Connect still work if I click on the Download Transaction button from the bank's website?
My understanding from https://www.quicken.com/support/how-quicken-connects-your-bank
is that Express Web Connect will not identify transfers or bill payment transactions from Quicken and communicate them to the bank to be executed. As such it only records banking data, and cannot actually affect my bank accounts. This is critical to me, could you please confirm.
I haven't been able to fully test. The initial download seemed to work properly, but now that there are no more downloads, when I click the OSU button, the OSU summary indicates the correct time of the download, and zero transactions (because there are no new ones)
So I'll likely have to wait a few days to be fully confident.
I don't understand exactly what you mean when say EWC 'fetches' new transactions once per day.
Doesn't it fetch new transactions whenever you click the OSU button?
I think you may mean that it can only be scheduled once per day.
I agree that the advantages of scheduling OSU may not be worth security risks.
The dates/timing of transactions downloaded from the bank website seem identical to downloading with OSU.
A couple more questions.
Now that I've switched to EWC, will Web Connect still work if I click on the Download Transaction button from the bank's website?
My understanding from https://www.quicken.com/support/how-quicken-connects-your-bank
is that Express Web Connect will not identify transfers or bill payment transactions from Quicken and communicate them to the bank to be executed. As such it only records banking data, and cannot actually affect my bank accounts. This is critical to me, could you please confirm.
Typically FIs/Banks post their data once a day. Then typically FIs/Banks only allow aggregator servers to get data once a day, which may or may not be synced or coordinated at the same time, since EWC does not involve the FI/Bank to participate. And as Arctic Hare points out, some only make data available 5 out of 7 days.
So depending on your schedule, the EWC process may only pick up data that is a far behind as 3 days.
That said, in some instances, some FIs/Banks allow the EWC process to trigger every time there is a request.
So the entire process varies from one FI/Bank to another.
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(Canadian Q user since '92, STILL using QM2007)
As for your other questions...
You should still be able to use Web Connect if you have Express Web Connect setup. I say should, because I have had some issues with doing this. Sometimes it seems to have difficulty mapping the Web Connect download to the correct account when EWC is setup. Again, this is supposed to work, but I've decided to rely exclusively on EWC and recommend that you not switch between methods.
EWC is strictly a one way download. Only Direct Connect and Quicken Bill Pay allow you to initiate bank transactions from Quicken. Neither Direct Connect nor QBP are available in Canada. EWC does not send any instructions to the bank. In fact, EWC cannot connect to your bank, it only connects to Intuit's aggregation servers.
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(Canadian Q user since '92, STILL using QM2007)
So my understanding of the Express Web Connect process.
-Banks download info to Intuit aggregate server (typically daily)
-The info stays on the Intuit server until I click OSU
-The info is then sent to my computer Quicken.
Does Web Connect from the bank website go thru Intuit's aggregation server?
So far it seems to be functioning, but I had the same problem on two different accounts, when during Auto Reconcile.
I made an ATM withdrawal, and an email transfer this morning, and a few more yesterday.
When I executed EWC from the OSU button, yesterday's transactions downloaded, but today's ATM withdrawal and email transfer didn't.
Which I understand from the timing issues noted above.
I couldn't balance the 'Cleared' and 'Statement Ending Balance'.
The difference was the equivalent of today's transactions, and could not simply click the today's transactions to balance. I repeated OSU update using lightning bolt, same issue.
It was as though the current balance downloaded as though today's transactions were included, but the transactions themselves did not download.
I manually entered today's transactions thinking that this would allow me to Reconcile, but when I ran Reconcile, I get a warning that 'There are no uncleared items to reconcile' and do not show as uncleared transactions to be selected during Reconcile. Even though the account register clearly showed my manual entries with today's date showing blank in the column 'Clr',
I tried OSU a couple more times, Quicken crashed somewhere in the process and when I restarted Quicken. When I restarted, and repeated reconcile it indicated the online balance at the end of yesterday, and today's transactions did not download, which is what I would expect, so I think my problem disappeared.
I don't know if this glitch was a timing issue associated with my first usage of EWC/OSU, or an issue with my recent update to Version R16.16
Web Connect is a download directly from the FI/Bank BUT when you go to load the data into Quicken, Quicken phones home to verify the registration of the FI/Bank with Quicken. If it is not, or if the internet connection is down, or if Quicken online functionality has expired, Quicken will refuse to load the data.
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(Canadian Q user since '92, STILL using QM2007)
Is there a security risk with Quicken aggregateserver being hacked?
Is it worth the risk worth the marginally added convenience?
Full disclosure... you just asked someone who assesses and manages risks in their professional life a risk question.
Is there a security risk with the Intuit aggregation server being hacked. Sure there is. Is there a risk with your bank's server being hacked. Sure there is. Intuit claims to employ bank level security protocols and systems.
I always try to talk about risk in terms of an "acceptable level of risk". I deem the use of EWC to be an acceptable level of risk, but you'll have to make that assessment and judgement yourself.
I use three different bank IDs with Quicken. Thus, if I used Web Connect, every day I would have to log into three separate bank sites. I find that rather inconvenient.
In my view and judgement, the Intuit aggregation process present a relatively low, and, therefore, acceptable level of risk to me. I've never heard of case of anyone hacking into the Intuit server, but everyday I hear of people falling victim to other cyber scams and hacking.
If you truly find EWC only marginally more convenient, then, perhaps, you want to use WC. For me, EWC, is more than "marginally" more convenient that WC and, therefore, I accept the additional risk, which I judge to be small.
All that being said, I encourage every individual user to think through the convenience and risk factors and choose an approach that suits their individual profile.