Schwab - wrong transaction dates

GaryB1234 · October 1

After over 3 months since this was first reported with no updates to status of this problem, it is becoming obvious that there is zero urgency to solving this problem. This needs to be escalated to a much higher level in this company to make someone at a higher level aware of the situation. I am sure Schwab is used by thousands of quicken users who are all impacted by this issue.

[Removed - Off Topic/Speculation]

ronwalter · October 1

I called Quicken Support 650-250-1900. I was told the last status entry on Ticket 11228611 was Aug 29th - the support person said 'the problem is Charles Schwabs to fix' - for what that's worth.

ronwalter · October 1

I spoke w/Charles Schwab technical support - he said, by looking at an open ticket, that the problem is between Schwab's 'aggregation services' and Intuit - Again for what it's worth. I didn't get any worthwhile info about either urgency or a fix.

K123 · October 1

I surmise that the urgency and priority are very low. The evidence and facts to support this conclusion are overwhelming. I'm afraid it will only be resolved through happenstance or (perhaps) a frustrated user getting the attention of the right person at Quicken or Schwab.

Quicken are you listening?

Stu · October 1

email . He will fix it.

Quicken Janean · October 3

Hi All, I have reached out for an update for this issue. I am sorry for the delay in response and updates. I will message here when I have more details Thanks.

Stu · October 7

Made a Schwab outgoing wire transaction today (10/7/24) at 1:11 pm.

The wire was completed by Schwab today (10/7/24) at 1:15 pm:

Did a Quicken OSU at 2:55 pm today (10/7/24) and it came through as being executed on 10/6/24.

I don't see how Schwab systems could have created that error.

Rob · October 7

Every transaction across my 10 different Schwab accounts comes to Quicken dated the day prior. It is very frustrating that this has been happening since July and Quicken has done nothing to fix it.

Larry Goodnight · October 7

Would it be to much to ask for a Quicken representative to give us a quick update on where they are in resolving this issue? I have not seen an update in quite some time.

veegee · October 8

based on @Bill44 JSON object from Schwab, the incorrect data seems to be originating from Schwab. Looks like the tradeDate and SettlementDate field are incorrect (a day early).

Having said that, Quicken has a responsibility to its users to get it fixed, and not just point to Schwab, because their product is the one that promises to connect with financial institutions and download transactions.

Having said that, Quicken has limited ability to influence Schwab's priorities. So it is best to 'strongly encourage' Schwab.

I recommend writing to the office of the president at Schwab or the CEO. The more people write, the better! Instead of complaining here, your time is spent far better by writing to Schwab. You can ask any of the AI's (CoPilot, Gemini etc.) for email/phone for the President or CEO - I provided Co-Pilot provided contact info in an earlier comment in this thread. It would be helpful to add to your email the JSON object that @Bill44 posted.

An alternate solution that Quicken could implement is to use the "time" field instead of tradeDate field. This is assuming 'time' = 'tradeTime". This would also allow Quicken to sort downloaded transactions by the time of the trade - which is how brokers list the transactions on their websites. This type of sort functionality is missing in Quicken (but is badly needed, IMO).

Quicken Janean · October 8

Hi everyone, I wanted to provide an update regarding this issue. This issue has already been escalated to Schwab for further investigation. Unfortunately, at this time, they do not expect a fix in the near future and do not have an estimated timeline for resolution. We recommend reaching out to Schwab directly for more detailed updates and information.
We will continue to work with Schwab and our service providers to help resolve this issue.

ronwalter · October 8

Quicken Janean

While I appreciate this update, I respectively ask - why did it take 2.5 months to get this response?

Bill44 · October 9

Earlier in this thread, I gave an answer as to how to fix it with an example of the transaction from Schwab and what to do.

How about looking at it and doing something.

veegee · October 9

@Bill44 (Kindly take a look at my last comment as well.) The way the JSON fields are named, I would venture to guess that the "tradeDate" field is supposed to be the 'Date' part of the trade transaction, and the 'time' field is supposed to be the 'Time' part of the transaction. i.e. that is what Quicken expects, I think, and that is perhaps correctly populated by institutions other than Schwab. If I am correct, then Quicken may not be able to use the date part of the 'time' field because it might break other institutions, unless they write 'Schwab specific' code. I am only trying to guess here what might be Quicken developers' objection to using the 'time' field.

I will reiterate that 'this breakage' was caused by/at Schwab. As @Stu points out, the date problem may be affecting transactions other than trades as well. It is in Schwab's hands as far as I can see. And it is up to Schwab clients (such as us) to get the priority elevated. Per @Quicken Janean, it appears that Quicken has already attempted to elevate this issue at Schwab (without any resulting fix).

qc001 · October 9

The date field is 11:00PM the day before the trade. So it's really only off by one hour. My guess that there's a timezone mismatch somewhere, or a hard-coded time-zone offset, that is incorrect by one hour.

To go further with the speculation, it may be that there's a hard-coded offset based on standard time that breaks when DST is in effect — for example, they're subtracting five hours to get from midnight Eastern to midnight UTC, which is correct when there is no DST but gets you 11PM the day before during DST.

I think there's some chance this problem will disappear around the beginning of November and then reappear mid-March 2025.

Larry Goodnight · October 9

I am an active day trader and have downloaded transactions from Charles Schwab daily for the past 3 years. All of this worked fine until this July when suddenly all transactions were off by one day. So why all of a sudden did this phenomenon begin? Somehow someone made a change. Hard for me to believe that the change has never been identified by either Schwab or Quicken. I must have 25-30 financial accounts and the only transactions arriving with the wrong date are those downloaded from Schwab. Why is this the only one?

Stu · October 9

@Bill44, @veegee, @qc001 - thanks for your insight. I have fired off a complaint and plea to my personal FA at Schwab. Schwab is presently under a lot of financial pressure and I suspect they have been cutting back on their IT investment (good luck if you were a StreetSmartEdge user!). It seems the only people really working on this issue is our own QW community.
@Bill44 - since you were able to analyze the JSON transmission detail from Schwab, could you also do the same with another FI? That might enable us to see if the QW parsing of the data is different from other FIs. This might address @veegee's comments.
@qc001 - that's a thought about DST. Of course, if it does flip back on Nov 3rd, the problem will be buried until next year. It started on June 15/16 this year.
btw if transactions from the History page in Schwab are downloaded in JSON format, the data is correct. Seems to me that the abbreviated data in that format is all that QW should require.

veegee · October 9

@Stu , thanks for reaching out to Schwab. I do suspect the SSE to Sink-Or-Swim :-) transition is keeping them real busy and this is a low priority. I think there is little that Quicken folks can do to change priorities at Schwab (barring a very high level call between the two).

Also the 'base data' at Schwab appears to be all correct - there are various 'views' of the data - on the website, on SSE, on TOS etc. which are correct But it looks like the code that does the 'transport' of that data (to Intuit in this case) seems to be messed up. It could be Schwab or Intuit itself, but if it was Intuit, then I would expect multiple FI's to be affected. (Hence my conclusion that it is a Schwab data delivery issue.)

I do plan to talk to Schwab again, but one person complaining is not going to change their priority.

JPG · October 9

As someone previously suggested, perhaps elevating this issue to a higher corporate level than tech support would have benefits. We are all customers of Schwab, so if Schwab is the entity that has to fix the problem, we should be complaining to them directly. According to a google search I just made, the email for Schwab's president is [Removed - Personal Information]. He might be interested in learning about a technical problem affecting every Schwab customer who also uses Quicken that has gone unfixed for almost 4 months! I will be sending my own email to him later today.

veegee · October 10

Yes, everyone. Please write Schwab CEO.

smutschler · October 12

Regarding our mailing campaign to Schwab, feel free to borrow from my letter to Walter Bettinger, CEO of Schwab (until end of 2024).

JPG · October 12

According to my Google search, Bettinger retired in 2021 and Rick Wurster was appointed President and CEO. His email address appears to be rick.wurster@schwab.com.

Stu · October 12

@JPG. No. Bettinger retires in December this year. Wurster takes over then.

@smutschler. Excellent letter. Thanks. I have alerted my Schwab FA to the issue and he's looking into it.

ronwalter · October 12

On Thursday, I sent an email to my FA and copied Rick Wurster. I received a call on Friday from a person on Mr. Wurster's staff - he promised to investigate and get back to me early this coming week. I'm in agreement that more people contacting Schwab will be helpful!

Rich Gaughan · October 12

This problem has been ongoing since July 14th/15th. Can Quicken Support give us an update?

veegee · October 13

Very glad to see movement on contact Schwab executives. Hopefully we will have a resolution soon.

Meantime, anyone else experiencing 'incorrect cash balance' issues on their brokerage accounts? Problem started in the last 3 or 4 days - affecting multiple FIs - perhaps with the last Quicken Windows update. I know it is a different issue, just want to see if others are having the same issue before starting another thread.

JPG · October 14

I'm pleased to report to everyone on this thread that my email to Rick Wurster seems to have prompted an immediate and very positive response and escalation of the issue within Schwab. This morning, I received the following reply from the Schwab Customer Advocacy Team:

"October 14, 2024

Dear Joseph Giasi,

I am writing in response to your email to Rick Wurster dated October 12, 2024, regarding discrepancies with Schwab transaction dates on Quicken.

I regret to hear of your experience and any difficulties you have faced in manually updating this information. We have received similar reports of this issue which has been escalated to Schwab’s Data Aggregation Services Owner, as well as the company who operates the infrastructure for Quicken, and they are currently collaborating on a solution to this issue. The investigation is ongoing and although we do not have an estimated resolution date at this time, please know this is being reviewed by the appropriate parties.

To track progress, you may periodically check on Client Technical Support (CTS) Issue #34171 by contacting customer service at 1-800-435-4000, by secure message or live chat. If doing so, please provide the CTS issue number for the most efficient service.

Thank you for taking the time to share your concerns and insight regarding what you experienced. We appreciate your continued business and patience throughout this process.

Should you have additional concerns regarding this matter, I can be reached Monday-Friday at 1-877-877-0273 between the hours of 8:00 AM and 4:30 PM Eastern or you can email me at clientadvocacyteam@schwab.com.

Please reference the following assigned case number C-50315493.

Sincerely,

Dan Siffring

Resolution Manager | Client Advocacy TeamTel 877 877 0273| Fax 800 977 0122211 Main StMail Stop: PHXPEAKSan Francisco, CA 94105Charles Schwab & Co., Inc.NOTICE: All email sent to or from the Charles Schwab corporate email system is subject to archiving, monitoring and/or review by Schwab personnel.Charles Schwab & Co., Inc. member SIPC.Investment Products: Not FDIC-Insured • No Bank Guarantee • May Lose Value"

So, we now have confirmation that Schwab is actually working on the problem and both an Issue number and case number for tracking the status of resolution.

Stu · October 14

That’s good news. Let’s see how much clout the customer advocacy team has within Schwab. It’s noted that all he says is they are working on it. Your letter to Wurster is matched by my own to him today that I sent by snail mail (deliberately). We may have to keep their attention on this.

veegee · October 14

Customer advocacy team has some clout within Schwab. But it is more of the forwarding of the issue through the CEO (future CEO in this case).
I have had to work issues through the CEO (W. Bettinger) > President > further management by the office of the president/client advocacy team in the past. Issues that had persisted for 2 years or more. Nevertheless, it still takes time to resolve and get out of the pipeline to availability to customers. One issue was with Quicken, another issue with tax filing related date transfer to the IRS. The first issue needed a second reminder to the CEO that he had promised a resolution 6 months earlier.

smutschler · October 15

@JPG Thank you for sharing that response. Well done! A group effort, we are applying pressure through multiple persons and multiple channels. Let's hope they "get tired of hearing from us" sooner rather than later!

Schwab - wrong transaction dates

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