UPDATED 12/28/21: Changes to Charles Schwab Accounts

Quicken Kathryn
Quicken Kathryn Administrator admin
Charles Schwab is changing the way you access and download your account information into Quicken.

We have made changes to Quicken to accommodate these Schwab changes. In order to ensure you maintain your Schwab connectivity, please update your version of Quicken to the latest release as soon as possible.

To update Quicken for Windows: 
In Quicken for Windows, go to Help > Check For Updates.  If there is an update to install, Quicken will prompt you to install the update.

You can also download the manual update here.  Be sure to update to R36.23 or higher.

To update Quicken for Mac:
In Quicken for Mac, go to Quicken Menu > Check for Updates.  If there is an update to install, Quicken will prompt you to install the update.  Be sure you're updated to 6.4 or higher.

When the Charles Schwab change is completed over the next two weeks, you will be prompted to modify your accounts in Quicken to maintain your connectivity to Charles Schwab.

For updates when these changes are completed, please click the Bookmark icon on the upper right to be notified of updates to this thread.
Quicken Kathryn
Community Administrator

Comments

  • Quicken Kathryn
    Quicken Kathryn Administrator admin
    UPDATE 10/29/21: This morning, our service providers have disabled the old Charles Schwab financial institution for Quicken Windows and Mac. 

    If you have existing Charles Schwab accounts, you will not experience a difference, and will be able to update your accounts as expected; you may see a "zzz" in front of your Charles Schwab financial institution name in Quicken.  

    However, if you are trying to add a new Charles Schwab account, or if you try to deactivate and reactivate an existing Charles Schwab account, you will be unable to until the final service cutover is complete at the end of next week.

    We apologize for this inconvenience--we're working to enable this new Charles Schwab connection as quickly as possible to minimize the impact of these Charles Schwab changes.

    In the meantime, please click the Bookmark icon on the upper right to be notified of updates to this thread.
    Quicken Kathryn
    Community Administrator
  • Quicken Sarah
    Quicken Sarah Alumni ✭✭✭✭
    edited October 2021
    UPDATE 10/29/21

    Some Users may receive a prompt to enter their password for existing Charles Schwab accounts and receive an invalid password error.

    The switchover is in progress, if an invalid login error is received, please close and re-open Quicken, then attempt to update the account(s) once again.

    You will be prompted to enter the password for Charles Schwab and once entered, the update should complete successfully.

    In the meantime, please click the Bookmark icon on the upper right to be notified of further updates to this thread.

    Thank you!
  • Quicken Sarah
    Quicken Sarah Alumni ✭✭✭✭
    edited November 2021
    UPDATE 11/01/21

    The upcoming changes to the connections with Charles Schwab accounts have been paused and delayed.


    Thank you!
  • Quicken Kathryn
    Quicken Kathryn Administrator admin
    UPDATE 11/2/21

    Just to clarify on the Charles Schwab migration: while the switchover date of 11/4/21 has been pushed back, if you have Charles Schwab please ensure you have updated to the latest Quicken release, as the original post here indicates. 

    You will still need to have the latest release ensure your Charles Schwab accounts continue to update.  The sooner you update to the latest release, the smoother your transition to the new download method.

    The latest information from Charles Schwab is that the system change will occur sometime between 11/16-11/18/21.

    Thanks--
    Quicken Kathryn
    Community Administrator
  • Quicken Sarah
    Quicken Sarah Alumni ✭✭✭✭
    edited November 2021
    UPDATE 11/12/21

    We have been investigating reports from some users of experiencing a authorization 'loop', where once the authorization has been completed for the Schwab accounts, the message to authorize continues to appear when an update is performed.


    There are two potential causes to this issue:


    First Issue:
    This behavior may occur if you have multiple data files with Schwab accounts connected for downloading transactions.  At this time, the new Schwab authorization process is limited to a single data file, and if Schwab accounts are connected or authorized in a different file, the original file connection is signed out, and you will again be prompted to authorize the accounts.

    Second Issue:
    This behavior may occur if there are any hidden or closed Schwab accounts in your data file that are still connected for downloads.

    If you experience this behavior and do not have multiple data files, please check the Account List for any hidden or closed accounts still connected for downloads.


    Quicken for Mac - Go to the Accounts tab and select "Hide and Show Accounts" and scan the list for any Schwab accounts that may be marked as hidden and/or closed.  Uncheck the box so they appear in the account list on the left again.  Then go to the Register > Settings > Downloads and select Disconnect Account.

    Quicken for Windows - Go to the Tools menu and select "Manage Hidden Accounts" and scan the list for any Schwab accounts that may be marked as hidden and/or closed.  Uncheck the box so they appear in the account list again.  Then go to the Tools menu > Account List and click the 'Edit' button to the right of each Schwab account name.  In the window that opens, go to the middle tab for "Online Services" and select the "Deactivate" button.

    Once these accounts have been deactivated from downloads the prompt to authorize the accounts should no longer continue to appear.

    Thank you!

  • Quicken Kathryn
    Quicken Kathryn Administrator admin
    UPDATE 11/16/21: Tonight, we will be migrating several users still on the older connectivity type to our new connectivity, in order to continue supporting Schwab account downloading.  If you have not yet updated your Quicken version to the latest patch release, you will experience errors when attempting to update all of your connected accounts.

    Please update your version of Quicken now with the latest FREE patch updates using the steps above.

    Otherwise, you will see/experience the following in Quicken:

    Quicken for Windows: Error CC-501 or HTTP-400

    Quicken for Mac: "This version of Quicken cannot use connected services."
    Quicken Kathryn
    Community Administrator
  • Quicken Kathryn
    Quicken Kathryn Administrator admin
    UPDATE: 11/19/21: Quicken for Windows users are experiencing an OL-301-A error with Schwab.  If you experience this error, please follow the steps here to resolve the issue.
    Quicken Kathryn
    Community Administrator
  • Quicken Kathryn
    Quicken Kathryn Administrator admin
    UPDATE 11/19/21: The Charles Schwab changeover is now complete.  When updating your accounts, you should now receive an option to Reauthorize your Charles Schwab accounts with the new connection method.

    If you have any issues updating your accounts in Quicken for Windows, we suggest that you download and install the latest mondo patch, version R37.25.
    Quicken Kathryn
    Community Administrator
  • Quicken Chris
    Quicken Chris Alumni ✭✭✭✭
    Update 11/22/21

    We have Published a new FAQ for troubleshooting issues while setting up the new Charles Schwab Connection Method:

    https://www.quicken.com/support/errors-when-updating-or-adding-charles-schwab-accounts

    Please Also see this new Alert regarding Missing Investment Transactions:

    https://community.quicken.com/discussion/7902129/schwab-accounts-missing-investment-transactions#latest
  • Quicken Chris
    Quicken Chris Alumni ✭✭✭✭

    In our ongoing effort to improve the security of your information, we are changing the way you access and download your Charles Schwab account information into Quicken.

    We switched over fully to the new download system on Friday, November 19.  Most of our customers have been able to migrate successfully using the automated reauthorization flow.   However, we have identified a few migration-related issues in Quicken for Windows (see below) that are affecting some of our customers. For a summary of all known issues including a few that we have already fixed, please see our new FAQ below:

    https://www.quicken.com/support/charles-schwab-transaction-download-changes

    For updates on when any remaining issues are resolved, please click the Bookmark icon on the upper right to be notified of updates to this thread.


    Thanks!

  • Quicken Chris
    Quicken Chris Alumni ✭✭✭✭
    Update 11/23/21

    We have created another Charles Schwab FAQ which provides an overview of known issues and links to download the latest patch with several Schwab related fixes:

    https://www.quicken.com/support/charles-schwab-transaction-download-changes
  • Quicken Kathryn
    Quicken Kathryn Administrator admin
    edited December 2021
    Update 12/3/21:

    We've released several product fixes for known issues with Charles Schwab accounts, but we are continuing to work on three issues reported by customers:

    Numerous Compare to Register transactions to accept after reconnecting
    .  We are working to shorten the date window of downloaded transactions to 90 days for Schwab to mitigate this issue.  We hope to have this change implemented soon.  We have implemented the fix for this issue.

    Missing transactions.  We have confirmed and are investigating the root cause of this issue (a special thanks to community members who assisted in troubleshooting!).  We will update this thread with more information as soon as it's available. 

    Reauthentication required when switching between different datafiles accessing a single Schwab login
    .  We are researching this issue; it appears to work in some cases, but not others.   Some use cases seem to work, while others don't.  We will update this thread with more information as soon as it's available. 

    Our team will continue to research and resolve these Schwab issues, and work to fix them as quickly as possible.  We thank you for your patience during this transition. 


    Quicken Kathryn
    Community Administrator
  • Quicken Kathryn
    Quicken Kathryn Administrator admin
    UPDATE 12/3/21: 

    We have implemented a change that limits transaction download to 90 days after reauthenticating Charles Schwab accounts.  Thank you for your patience while we implemented this fix.
    Quicken Kathryn
    Community Administrator
  • Quicken Kathryn
    Quicken Kathryn Administrator admin
    edited December 2021
    UPDATE 12/6/21:
    We have continued to work through issues reported by our customers.  Here are some updates:

    Needing to reauthorize your Charles Schwab accounts repeatedly when updating accounts.  This is likely due to a Schwab account in your file, or in another data file that you've used previously, that is still connected to the old instance of Charles Schwab.  Please follow the instructions here (use the Windows or Mac tab on the FAQ for your version of Quicken) to find and disconnect these old instances and this should resolve the issue.

    Numerous Compare to Register transactions/Duplicate to accept after reconnecting. 
    We have reduced the number of transactions downloaded during the reauthentication process.  If you are experiencing more than 90 days of duplicate transactions, You can restore a backup file (instructions here), then download and install the latest patch. Once the patch has installed, you can complete the migration process again.

    Missing transactions.  We have resolved most instances of missing transactions.  If you are missing investment transactions after downloading from Schwab, please follow the instructions here to deactivate and reauthorize your Charles Schwab accounts; this should restore your transactions. 

    If you have only a cash account with Schwab and are experiencing missing transactions, we are working on a release to resolve missing transactions, which should be available soon.

    Reauthentication required when switching between different datafiles accessing a single Schwab login.  We have identified one situation in which this occurs: if you have one set of Schwab login credentials, you will be unable to use this single set of credentials with more than one Quicken ID. 

    However, the following situations should work:
    • Using Charles Schwab credentials with the same Quicken ID across more than one data file
    • Using more than one set of Schwab login credentials in the same Quicken data file
    If you experience issues with the above two situations, please post a new thread in the community detailing your Quicken version, and the steps you took when attempting to update your Schwab account transactions.
    Quicken Kathryn
    Community Administrator
  • Quicken Kathryn
    Quicken Kathryn Administrator admin
    edited December 2021
    UPDATE 12/13/21:
    We have observed an issue where Windows users who have multiple Charles Schwab accounts in the same Quicken file may experience transactions downloading into the wrong Charles Schwab account.  We have released a patch (R36.54) to correct this issue today.  To download the patch, please visit the FAQ here.  Note: if you experienced this issue, you can fix previously downloaded transactions using Move Transactions from the gear menu for the investment register.

    Users are also reporting that some Charles Schwab transactions are downloading as the wrong transaction type (for example, Capital Gains coming through as Return of Capital).  We are tracking these issues and working to correct them as quickly as possible. 

    If you experience this issue, please go to Help > Submit Feedback (Quicken for Windows) or Help > Report a Problem (Quicken for Mac) and submit your log files for research, with ATTN: Kathryn as the subject line.  Please also describe with as much detail as possible what transaction types you're seeing, and what they should be.
    Quicken Kathryn
    Community Administrator
  • Quicken Kathryn
    Quicken Kathryn Administrator admin
    edited December 2021
    UPDATE 12/14/21:
    There is currently a known issue causing errors when adding or updating Charles Schwab accounts--we're working to fix this as quickly as possible--please follow the thread here for more information.

    UPDATE 12/14/21: This issue is now resolved.
    Quicken Kathryn
    Community Administrator
  • Quicken Kathryn
    Quicken Kathryn Administrator admin
    edited December 2021

    UPDATE 12/17/21:

    Below is a summary of the issues we've resolved with Schwab in Quicken for Windows and Quicken for Mac.  For ongoing issues, please see this FAQ: https://www.quicken.com/support/charles-schwab-transaction-download-changes 


    Schwab Issues we have addressed recently in Quicken for Windows:

    • Missing Accrued Interest in Bond Buy/Sell transactions
    • Missing Online Balance for non-investment accounts
    • No transactions downloaded for some accounts containing Option securities
    • Instances of transactions not downloading for certain accounts. This is typically resolved by following the steps here
    • Repeated reauthentication prompts when a One Step Update is performed (for more information, click here)
    • Unable to follow manual migration instructions (see link) because deactivating an existing Schwab account doesn’t work
    • "Feature temporarily unavailable" when signing into Schwab.  This is typically resolved by following the steps here.
    • Numerous duplicate transactions after reauthenticating; Due to the changes made to the way information is downloaded from Charles Schwab, you may notice some duplicate transactions after updating your accounts. You can review them and match them to your existing transactions. However, if you have numerous transactions and prefer not to review them, we've updated our systems to limit the transaction download after completing the migration to just 90 days. You can restore a backup file (instructions here), then download and install the latest patch. Once the patch has installed, you can complete the migration process again.
    • Schwab customers accessing accounts for the following roles should now be able to add their accounts to Quicken:
      • Authorized Agent
      • Entity Agent
      • IA Entity Agent
      • Full Power Financial Advisor
      • Sole Proprietor Spouse
      • View Only
      • Limited Power of Attorney
      • Donor
      • Portfolio View
      • Nominator
      • Trusteed IRA Recipient
      • Limited Power Financial Admin        
      • Withdrawal Power Financial Advisor
      • QPLAD
      • HSA Custodian
      • Non-Trading Agent
    • Schwab has added download support for ​Donor Advised Funds

    • Some customers with more than one Schwab account reported that transactions would download into the wrong account; this issue has been resolved with the latest hotfix patch, that you can download here.  Note: If you previously experienced this issue, you can correct previously downloaded transactions by using Move Transactions in the investment register gear menu.

    Many of the above resolutions are included in the latest Windows patch release, download and install the latest patch now at this link.


    Schwab Issues we have addressed recently in Quicken for Mac:

    • Missing Accrued Interest in Bond Buy/Sell transactions
    • Missing Online Balance for non-investment accounts
    • No transactions downloaded for some accounts containing Option securities
    • Instances of transactions not downloading for certain accounts. This is typically resolved by deactivating and reauthorizing your Schwab accounts
    • Repeated reauthentication prompts when a One Step Update is performed (for more information, click here)
    • "Feature temporarily unavailable" when signing into Schwab.  This is typically resolved by following the steps here.
    • Schwab customers accessing accounts for the following roles should now be able to add their accounts to Quicken:
      • Authorized Agent
      • Entity Agent
      • IA Entity Agent
      • Full Power Financial Advisor
      • Sole Proprietor Spouse
      • View Only
      • Limited Power of Attorney
      • Donor
      • Portfolio View
      • Nominator
      • Trusteed IRA Recipient
      • Limited Power Financial Admin        
      • Withdrawal Power Financial Advisor
      • QPLAD
      • HSA Custodian
      • Non-Trading Agent

    Many of the above resolutions are included in the latest patch release, open Quicken and go to the Quicken Menu > Check for Updates

    Quicken Kathryn
    Community Administrator
  • Quicken Kathryn
    Quicken Kathryn Administrator admin
    UPDATE 12/28/21:

    We have released a Quicken for Windows patch which should resolve the following issues:
    • An issue when using File Validate where Schwab bank accounts were being flagged incorrectly and deactivated.  
    • An issue that caused some investment transactions to download with missing information
    • A situation where users with closed or hidden accounts had issues with reauthorization and account deletion
    To install this new patch, please see the FAQ here.
    Quicken Kathryn
    Community Administrator