Schwab - wrong transaction dates
Schwab is downloading today's transactions with yesterday's date…all accounts (Roth, Regular, PCRA) through one-step update.
Best Answer
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@Bill44, excellent sleuthing!
Looks like Quicken finally opened an official ticket on this. Well Done to everyone here who posted and kept the pressure on!
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Answers
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"Today's" transactions haven't posted yet. They post overnight. So please explain further. Graphics (JPG or GIF format, please) are helpful.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP-1 -
Agree, the last two days the incorrect date is reflected in the download.
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Like this:
Maybe some hangover from the CrowdStrike problem?
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Same problem here (Windows version). I have multiple Schwab accounts. Yesterday (Wednesday, 7/24), ALL downloaded transactions from Schwab were dated one day earlier than their actual execution date. This included transactions from Tuesday (which were dated as Monday) as well as intra-day transactions I executed yesterday (which were dated as Tuesday!). Today the problem continues — downloaded trades from yesterday are dated as of the day before and dividends being paid today have yesterday's date.
During match up, these transactions show as "Near Match" and, when Accepted, the date of the matching transaction is changed to the bogus date. I then must edit each of the accepted transactions to correct the date. (Or I delete each download transaction and manually mark their matching item in the register as "Cleared".)
Also, though probably unrelated to the date issue, I see another odd glitch. The download triggered a pop-up reporting a mismatch in the quantity of a T-Bill that I bought a couple days ago. The download reported a face value quantity that included a fractional share (####.11). Logging into Schwab, however, I see the Position and History data are correct — they show only a whole dollar face value for the bond.
Schwab would do well to borrow from the Quicken code that they inherited from TD Ameritrade. I never had any glitches. One thing that TD downloads did more accurately was to report reinvested dividends as a single "ReinvDiv" transaction (thereby matching my register) as opposed to Schwab, which breaks it into 2 transactions — a dividend and a buy.
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Actually, Schwab does download intra-day transactions, within minutes after the execution. No need to wait until next day to download. As of this writing, downloaded transactions of all types are being dated one day earlier than actual. However, transaction data on Schwab's site is dated correctly. Only download is in error.
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Please do TOOLS, Account List and tell use what's in the "Transaction Download" column adjacent to your Schwab acct. If that column isn't visible, add it via the OPTIONS button at the bottom of the dialog.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
[removed-violation of community guidelines]
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You, obviously, misunderstand how EWC+ works. It's NOT an immediate connection to Schwab, rather Q's interface provider (Intuit) goes out once a night and collects the available info.
THEN, when you request a download, it's coming from what Intuit has connected the night before. Thus, yesterday's date.
And, no Intra-day transactions … at least not via EWC+. Those could ONLY come via Direct Connect or Web Connect.Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP-3 -
Hate to be correcting you again, but EWC is the method that relies on a nightly cache. EWC+ (PLUS) uses the intermediary for credential validation, but then performs a real time connect to the bank/brokerage data (that is actually stored on intermediary servers). Intra-day transactions are indeed downloaded to Quicken by Schwab.
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SIMPLY WRONG. See the "Data" bullet points under "Express Web Connect / Quicken Connect - Details" at
"https://www.quicken.com/support/how-quicken-connects-your-bank/"
In particular the phrase "nightly update".
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP-2 -
I have the same issue. It started several days ago. All downloaded dates are the previous day, even though the trades were made today.
Hope this is fixed soon. This happens with all of my Schwab accounts. It does not happen with accounts from other institutions.
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The date problem has been reported to Schwab. No idea whether the problem is with them or the intermediary servers, but it would appear to be on Schwab's end since they appear to be the only institution exhibiting the issue.
Regarding "nightly update" relative to Express Web Connect, that is outdated documentation, at least as far as Express Web Connect Plus is concerned. Intermediary servers are now fully capable of intra-day data updates and routinely do so, but that is dependent upon the willingness of each financial services firm to participate. Many still only do nightly updates. Intra-day update support is more common for brokerage accounts than for bank checking/saving accounts (which makes sense, since most banks follow a once-per-end-of-day posting process). J.P. Morgan and Schwab brokerages (and no doubt others) currently support intra-day trade transaction updates via EWC+.
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The page that I cited was, per info at the top of the page, last updated March 28,2024 … well after EWC+ was implemented.
So, it looks current to me.
Those who disagree need to cite evidence, otherwise they're just blowing smoke.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP-3 -
Thanks for your update about the problem having been reported to Schwab. I have been experiencing the same problem since Wednesday. In addition, over the last week, I have occasionally been receiving duplicate transactions from mid-June with the current day's update. Never had any problem like this for more than a decade when it was a TD Ameritrade account.
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[removed-violation of community guidelines]
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This morning, I downloaded from Schwab 2 option-related transactions that executed at close of business Friday. These were dated as of today (the next business day) and that is NORMAL date behavior for such transactions. Conclusion: It is possible they have fixed the problem. Standing by…
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Nope, sorry. I just downloaded from Schwab and as of 7/29/24 at 2:30 PM, transactions that were executed today were given yesterday's date (which was a Sunday no less!). The date problem remains, at least for certain transaction types.
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Still having the problem here! Today's transactions were all dated one day early (7/28). I sent a message center to Schwab customer service explaining the problem and asking that they have their technical people fix it. Fingers crossed.
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Today still downloading yesterday's date for today's tranactions and now downloaded transactions going back several months. Getting worse.
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maeagle
If you haven't already done so, could you report the issue to Schwab. Perhaps, if they receive enough reports about the problem, they will do something to fix it.
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I would like to suggest a test: Create a new Quicken file with only Schwab in it and observe and compare the behavior.
- Create a new Quicken data file: File > New Quicken File > select New Quicken File
- Turn off Sync: Edit > Preferences> Mobile & Web > Sync=off/gray
- Add your Schwab account to it. Double check again that Sync is turned off (Edit > Preferences> Mobile & Web > Sync=off/gray).
Start downloading and see how it behaves in the next few days. The objective is to determine if the strange behavior is in Schwab's downloads, Quicken, or the specific datafile.
You can alternatively look at the download logs data but gets more involved.
- QWin Deluxe user since 2010, US subscription on Win11
- I don't use Cloud Sync, Mobile & Web, Bill Pay/Mgr0 -
I have heard back from Schwab regarding my report of the date problem, which is not very helpful. Schwab's position is that "if any information is coming through incorrectly on Quicken's end, that would need to be discussed with their [Quicken] technical support team even if it is Schwab data." I plan to reach out to Quicken support as soon as I have time to spend on the phone.
Never had a problem like this in over 20 years as a TD Ameritrade client. My main brokerage account is with Morgan Stanley and I use Schwab only for a modest account that I like to try some out some ideas (options, futures, etc) without bothering my advisors at MS. I will have to look at alternatives to Schwab for this account.
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I looked at the OFX file, and although downloaded data is there for my other brokerage accounts, there is nothing in that file for Schwab. This may be because of the different connection protocols (Direct Connect for my other brokerage accounts and EWC+ for Schwab). Does anyone know where to look for the log of the data that is coming from the intermediary between Schwab and Quicken?
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Contacting Schwab was worthless…just got the runaround. ..and as I have already stated this "wrong date issue" started around July 23. It is interesting that this happened after the Crowdstrike incident. None of my other accounts outside Schwab are affected.
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Just realized this was happening to me when I saw this post. Definitely needs to be fixed, but unless you’re day trading probably doesn’t really matter in the long run. I’m not going to change the dates, but they do need to fix it quickly, of course.
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Hello All,
We have forwarded this issue to the proper channels to have this further investigated. In the meantime, we request that you please navigate to Help > Report a problem and submit a problem report with log files, a sanitized data file, and screenshots (if possible) attached in order to contribute to the investigation.
Please let me know once you have submitted logs!
(CTP-10643)
-Quicken Jasmine
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I received a response from Schwab technical team. They state that they are sending correct date data to Quicken's intermediary — the transaction dates that appear in account History on Schwab.com. So, they believe the problem is with the intermediary or Quicken.
I have a vague recollection of once reading about a similar problem in wrong dates being downloaded and it having something to do with incorrect time zone identification/handshakes between the sender and receiver servers. I mention this in case it might help any Quicken tech's who are reading this.
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"I received a response from Schwab technical team. They state that they are sending correct date data to Quicken's intermediary — the transaction dates that appear in account History on Schwab.com. So, they believe the problem is with the intermediary or Quicken."
I believe that this is probably correct. As a test, I downloaded a .csv history file from my Schwab account, and it shows the correct dates. I would guess that this or something similar is being fed to the intermediary, so the corruption must be taking place after the data leaves the Schwab system.
Per Quicken Jasmine's suggestion, I will submit a problem report to Quicken support tomorrow with the requested documentation.
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Does anyone know where to look for the log of the data that is coming from the intermediary between Schwab and Quicken?
I find cc transactions from an EWC+ connection in the Cloud Sync Log file. It can be a bear to parse into something readable. I do not have any brokerage EWC+ connections.
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After seeing this for the 1st time I looked at my download from yesterday.
I did the download mid-day. I had transactions from the previous day 30th that showed up as the 29th and a current day transaction 31st dated as the 30th. It does show that dates are dated incorrectly. It also shows that you can download current day transactions.
Sometimes I have to wait for 3 days to get transactions even though I try every day. Once in a while I give up and reset the online connection and it consistently fails on the 1st try to connect all of the accounts and works on the 2nd.
I thought there was something going on with Quicken and now find that there is an intermediary. This sure has been a headache since transferring to Schwab. At least now I know where it is happening.
I have found it has worked better (not perfect) when run after 10:am CDT.
Member since 1984.
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