Schwab - Added Accounts and Immediately Fail OSU and Other Issues

Like everybody, been fighting multiple problems this since 11/20. Running R36.54 Build 27.1.36.54.

I have 2 brokerage accts, 2 IRA, a new Roth and a checking account.

I deactivated and renamed all the accounts, and deleted the account numbers and financial institution name. I then went through the process to add new accounts from Schwab.

Problem 1 -
It did not find one of the IRA accounts to add.

It did successfully add the other 4 accounts with the proper account values and transactions.

Problem 2 -
Without doing anything else, I did a OSU and got a CC-506 error "Quicken is unable to update your account. This may be because the account was closed, or its nickname was changed". Note I did absolutely nothing between adding the accounts and doing an OSU. The error only shows for the checking account even though it reports 5 accounts.

Problem 3 -
Downloaded transactions from DFA mutual funds show as RtrnCap instead of Long Term and Short Term Cap Gains as reported by Schwab.

Problem 4 -
The newly created accounts only download 90 days worth of transactions. This is pretty worthless. No cost data is downloaded.

This is Saturday so no transactions to update until next week. I will update this post without making any more changes to the file early next week.

I had previously gone through this exercise except once I created the new accounts, I deleted the placeholders and transferred the transactions from the deactivated accounts. However, Quicken would not update any transactions and I was getting the 506 error for all the accounts. Clicked Fix It, got "Success" but nothing changed.

Comments

  • davidlip2 said:
    Like everybody, been fighting multiple problems this since 11/20. Running R36.54 Build 27.1.36.54.

    I have 2 brokerage accts, 2 IRA, a new Roth and a checking account.

    I deactivated and renamed all the accounts, and deleted the account numbers and financial institution name. I then went through the process to add new accounts from Schwab.

    Problem 1 -
    It did not find one of the IRA accounts to add.

    It did successfully add the other 4 accounts with the proper account values and transactions.

    Problem 2 -
    Without doing anything else, I did a OSU and got a CC-506 error "Quicken is unable to update your account. This may be because the account was closed, or its nickname was changed". Note I did absolutely nothing between adding the accounts and doing an OSU. The error only shows for the checking account even though it reports 5 accounts.

    Problem 3 -
    Downloaded transactions from DFA mutual funds show as RtrnCap instead of Long Term and Short Term Cap Gains as reported by Schwab.

    Problem 4 -
    The newly created accounts only download 90 days worth of transactions. This is pretty worthless. No cost data is downloaded.

    This is Saturday so no transactions to update until next week. I will update this post without making any more changes to the file early next week.

    I had previously gone through this exercise except once I created the new accounts, I deleted the placeholders and transferred the transactions from the deactivated accounts. However, Quicken would not update any transactions and I was getting the 506 error for all the accounts. Clicked Fix It, got "Success" but nothing changed.
    Hello davidlip2,

    I understand that the connection issues related to Charles Schwab accounts are distressing, but thank you for being so patient and also for bringing these matters to the attention of the community.

    In regards to the IRA account that doesn't appear when you try to connect to Charles Schwab's online banking services, I just want to be sure that the account is a) under your name, b) is not a donor-advised account and c) is not provided to a 'view-only' user. If you are experiencing this issue and any of the previous conditions are met, I would advise looking at this thread for the most recent updates regarding the connections that are currently supported with Charles Schwab: https://community.quicken.com/discussion/7900567/updated-12-17-21-changes-to-charles-schwab-accounts#latest. Of course, you may already be following that thread, but I always want to redirect attention there when it comes to a problem of this variety.

    As far as the CC-506 error code that appears when performing a One-Step Update is concerned, that particular message generally obtains when Quicken is unable to identify an account in which it should be downloading transactions. It can be caused by the change of an account nickname or number on the bank or credit union's website, as well as the presence of any accounts in Quicken that have been closed on the bank's end but have not been disconnected in Quicken.

    Be sure to check for any hidden accounts in your file by going to 'Accounts' and then 'Hide and Show Accounts' in the menu at the top of the screen while the Quicken Application is open. Save a backup then deactivate all of the Charles Schwab accounts by going to 'Settings' then to 'Downloads' and 'Disconnect Account.' Leave any closed accounts disconnected from online banking services and reconnect the others. You may have to add any accounts that have had their account name or number changed recently. 

    Regarding Problem 3, how old is the account? If it is simply a couple of weeks old, try to see if you can restore from a recent backup and connect with a One-Step Update. **Be absolutely sure that you have disconnected all of your Charles Schwab accounts before you try restoring, however.

    Lastly, regarding Problem 4 and the matter of your accounts being restricted to 90 days' worth of transactions: this is currently a limitation provided in order to prevent duplications from occurring. You can read more about this change here: https://community.quicken.com/discussion/7902333/updated-12-3-21-schwab-duplicate-transactions#latest

    Definitely let us know if you are experiencing any further difficulties with these accounts, and if you have any other questions.

    Thanks,

    Quicken Jared 
This discussion has been closed.