Upcoming Changes to Charles Schwab Accounts announcement is inaccurate

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User123456
User123456 Member ✭
edited May 2022 in Download, Add/Update Accounts (Mac)
This announcement states in bold letters that current Schwab account users set up prior to the change will not be affected. Quicken is asking for a password, even though my password was saved in the program, and then not accepting it when I try to download transactions. So for existing users as well as those trying to add new Schwab accounts it appears we are unable to download Schwab transactions until the change over is complete hopefully sooner than the end of the next week.

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  • Quicken Sarah
    Quicken Sarah Alumni ✭✭✭✭
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    Hello @User123456

    Thank you for taking the time to share the details of your experience, although we apologize for any frustration or inconvenience experienced.

    This behavior has been reported to our teams, however, they have confirmed the switchover is still in progress and request that if an invalid password error is received, to please allow up to 2 hours and then attempt to update accounts once more.

    Thank you,

    Sarah
  • Quicken Sarah
    Quicken Sarah Alumni ✭✭✭✭
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    Hello @User123456

    Our teams have made a few adjustments internally, would mind please closing and re-opening Quicken and then attempting to update the Charles Schwab account(s) once more.

    You will still receive a prompt to enter the password, but please let us know if the update completes successfully or if you still receive an invalid password error.

    Thank you,

    Sarah
  • DaveF
    DaveF Member ✭✭
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    To expand on this thread. If you add a new Charles Schwab account to Quicken, you are not given the opportunity to specify a Connection Method of Direct Connect. It automatically adds Connection Method of Express Web Connect +. There's a Question mark to the right (blue background). If you click on it, it
    tells you the connection is Provided by Capital One. This does not make me happy! I don't recall being informed by Schwab that Capital One is now in the mix. Especially with respect to Schwabs third-party access preferences. I've spoken with multiple people at Schwab Tech Support and I've come to the conclusion they are in the dark about this. They just pass me over to Quicken Support.
    When you do a One Step Update, it adds another Charles Schwab connection, this time without the zz
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