Chase Online Balance Not Correct

2

Answers

  • Quicken Mac Subscription Member ✭✭

    Same here… it's adding instead of subtracting pending entries (not that it should be doing either with those pending entries).

  • Quicken Windows Subscription Member ✭✭✭✭

    BTW, just to be clear, I'm on Quicken Windows, so whatever is happening is "upstream" from the actual Quicken program.

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  • Quicken Windows Subscription Member ✭✭✭✭

    With only 1 transaction to download and no pending transactions the online balance was correct this morning.

  • Quicken Mac Subscription Member ✭✭

    That makes sense, as the issue occurs when there are pending transactions. It’s now a known bug, so you just need to monitor the link above.

  • Quicken Windows Subscription Member ✭✭

    it seems like every time quicken does an update, they mess up the Chase downloads. Every single time!

  • Quicken Mac Subscription SuperUser, Mac Beta Beta

    @BWMATT Quicken Mac hasn’t had an update in the past month. The problem is almost never with the program itself; rather, it’s either an issue with the financial institution making a change or a problem with Quicken’s connectivity provider, Intuit, or both.

    Quicken Mac Subscription • Quicken user since 1993
  • Quicken Windows Subscription Member

    Is there any update on this issue as of 12/6?

  • Quicken Windows Subscription Moderator mod

    Hello @JosieC,

    The ticket is still open and being worked on. If you haven't already done so, I recommend that you bookmark the Community Alert linked below. Any updates, once available, will be posted there. If you do not see the bookmark icon at the upper right, please make sure you are logged into the Community.

    UPDATED 12/4/24 Chase - Online Balance including Pending Transactions

    Quicken Anja

    Thank you!

    Quicken Kristina

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  • Quicken Windows Subscription Member

    Will it mess up my Quicken file if I select "statement balance" instead of online balance to reconcile for the time being? Will I be able to transition back to online balance (when it's fixed) without a problem?

  • Quicken Windows Subscription Moderator mod

    Thank you for your reply,

    It shouldn't cause any issues if you use statement balance for now, provided that you make sure you're filling in the correct information. Once the issue is corrected, you should be able to switch back to using the Online balance option. For more information on reconciling using statement vs online balance, please review the How to Reconcile section of the article linked below:

    https://www.quicken.com/support/reconciling-account-quicken-windows/

    Thank you!

    Quicken Kristina

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  • Quicken Windows Subscription Member ✭✭

    Hello,

    My issue is a little different. The difference between my actual account balance on the Chase website and the one in Quicken is 1018.44. This is an account whose total value never exceeds $400 at the most. The online balance in Quicken has been incorrect for a month, so I am balancing it myself manually. Not an onerous feat but definitely annoying. That number is actual as I have no pending transactions at the moment. I tried turning the Pending off and on on the Online balance tab, I have reset the account several times, and ran a file validation. No issues. In fairness I will say that my other 10 accounts are working fine. Weird.

    Ken

  • Quicken Windows Subscription Moderator mod

    Hello @krlee,

    So our teams can further investigate this issue, please navigate to Help>Report a Problem and send a problem report with log files attached. Please include CTP-11394 in the description of the issue.

    Report a problem QWin.png

    Thank you!

    (Ticket #11412545/CTP-11394)

    Quicken Kristina

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  • Quicken Windows Subscription Member ✭✭

    I've been having the same issue. My Chase checking online balance in Quicken calculates the inverse of pending transactions before including them in the balance. So basically, a payment of $10 is looked at like a deposit of the same amount. Though I undestand how to calculate around the issue, it keeps me from being able to reconcile the account until a day hen there are no pending transactions. I don't undestand why this suddenly happened last month, or why Quicken can't roll back whatever update screwed this up. It shouldn't take weeks to resolve this.

  • Quicken Windows Subscription Member ✭✭✭✭

    @steveberk said:

    I don't undestand why this suddenly happened last month, or why Quicken can't roll back whatever update screwed this up. It shouldn't take weeks to resolve this.

    Most likely, because Quicken Inc didn't cause the problem, Chase is the most likely one that caused the problem.

    First off, this problem has shown up in both Quicken Mac and Quicken Windows (and neither of them had updates to the program at the time), so that pretty much rules out the actual Quicken programs as causing this.

    The next possible, is either Quicken Inc's or Intuit's servers doing something to the data as it is transferred through them (from what they got from Chase). This again is unlikely to be the problem because they wouldn't have written special software just for Chase. It would do the same for all the financial institutions using the same protocol. One of the main purposes of the new Express Web Connect + protocol is to standardize this data transfer.

    And since this isn't happening for any of the other financial institutions using this protocol, that points to Chase as sending out the wrong data.

    And that points to why Quicken Inc can't do a "roll back", and also why it is taking a long time. Chase has to fix it, and I'm sure it isn't one of their top priorities.

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  • Quicken Windows Subscription Member

    @steveberk I was able to reconcile today. I had to uncheck the "always use online balance to reconcile" and then it gave me the option to use a paper statement. I set the date of the "paper" statement to yesterday and used the running balance from the end of the day - that is available if you look at your checking account transactions on a browser instead of the Chase app. That way, the pending transactions are completely excluded from the process.

  • Quicken Windows Subscription Member ✭✭

    Dec 11, 2024 same issue with inverse math (pending deposits subtracted from actual balance for online balance). And, no pending deposits shown. Is this Chase issue or quicken issue?

  • Quicken Windows Subscription Member ✭✭

    JosieC- I understand the process for reconciling with a papaer statement, and have done it before.

    ChrisQPW- I'm not convinced that this is a Chase problem. I have several Chase accounts (checking, Credit Card, savings) and the checking account is the only one that exhibits this problem. The credit card account,which has many more transactions affecting it, displays and accounts for the pending balance correctly.

  • Quicken Windows Subscription Member ✭✭✭✭
    https://community.quicken.com/discussion/comment/20466195#Comment_20466195

    Which in my opinion increases the odds that this is a Chase problem. Why would Quicken behave differently for different accounts?

    Frankly, even though this new a "more serious" outbreak of Chase online balances being wrong, it isn't anything "new". For basically all the time since the switch to Express Web Connect + Chase's checking accounts have had a problem with the online balance on weekends and holidays. Note I said, "checking accounts". At the very same time there were no problems with their other account types like the credit cards.

    And at the same time, I have found inconsistencies even on Chase's website for some periods of the day/weekends…

    But more importantly, show me any threads where people are complaining about the same problem for a different financial institution. Note I'm talking about the exact kinds of same problems (only for some account types and only at certain periods of time, and the newest the amount sign problem). Online Balances have always been an "iffy" situation. But this is one of the first cases I have ever seen where the pending transactions are not only included when they shouldn't, they also have their amount signs reversed. That is a new one, and unique to Chase, and being "recent".

    It is this very fact that for Chase and only Chase, there is so many factors that keep changing depending on account type and time that points to Chase and not Quicken.

    Note that Online Balances reporting has been so inconsistent over a wide amount of financial institutions, that if you were posting this in a Windows thread you would almost certainly have a post by a SuperUser that you shouldn't be using the Online Balance and should be using the "Statement Balance" instead.

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  • Quicken Windows Subscription Member ✭✭✭✭

    Note this is now a new announcement on this:

    NEW 12/11/24 Chase Balance Discrepancy Issue — Quicken

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  • Quicken Windows Subscription Member
    edited December 2024

    I called support on 12/10 and spoke to someone who tried to tell me how reconciling checkbooks works and that there was NOT a problem. I have been using quicken for 20+ years and to have a "lesson" in banking was kind of an insult…

    Anyways, I am glad to hear that I am not the only one with the issue! I did figure out a workaround today since I haven't been able to reconcile my business checkbook in two weeks.

    Using the "paper statement" option, I added the balance from TWO days ago as the starting balance. As the ending balance, I used YESTERDAY's balance. It FINALLY reconciled to zero.

    I have spent way too much time trying to figure this out so hopefully someone else can use my workaround until this gets fixed.

  • Quicken Windows Subscription Member ✭✭

    Well it's nice to read these posts and determine its 'not just me'.

    I see the same behavior:

    "I'm not convinced that this is a Chase problem. I have several Chase accounts (checking, Credit Card, savings) and the checking account is the only one that exhibits this problem."

    Just the Chase checking online balance is widely and I mean widely off….

    appeared after you guessed it….A Quicken upgrade that was recently applied.

    Same old 'pony and trap'….

  • Quicken Mac Subscription Member ✭✭
    https://community.quicken.com/discussion/comment/20466249#Comment_20466249

    Off topic for this thread but I'd like to address your comments about Chase and Quicken not reconciling over weekends and holidays,

    I've seen the same thing. Chase stops clearing transactions after COB on Fridays and doesn't clear them again until Monday. The clearing takes place after COB on Monday which in turn means Quicken doesn't download the newly cleared transactions until Tuesday morning, which causes a 3-day dead zone in reconciling.

    It took me quite a while to see the pattern but it is very consistent.

    Hope this helps your understanding.

    And Merry Christmas to all !

  • Quicken Windows Subscription Member ✭✭✭✭

    Chase's "math" leaves a lot to be desired (even though they eventually get the right number).

    From my last statement, the balance was -1,551.80. And a download of the transactions since that statement (which doesn't include pending) from them in CSV format (Summing the Amount column gives 1,637.55)

    image.png

    image.png

    What do they report as the current balance:

    image.png

    Reconcile in Quicken:

    image.png
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  • Member ✭✭✭

    Same issue. Mine has one pending deposit that is being subtracted to get a lower balance instead of adding it. Windows. The balance shown on the bank site agrees with quicken before pending? Didn't quicken recently give us an option to get the pending transactions? I have it turned off so when someone says it's a known issue - for who. When ever I have called chase about anything it is always Quicken's problem.

  • Quicken Windows Subscription Member ✭✭

    Relating to steveberk and Chris_QPW previous comments, my Chase credit card online balance, with pending transactions, matches Quicken register update balance. However, Chase checking online balance does NOT match Quicken register update balance when pending transactions exist, and, pending payment transactions are added to Quicken online balance while pending deposit transactions are subtracted from the online balance. My guess is that this is a Quicken issue as there have been "pending" transactions with Chase and Quicken downloads checking for many years and this error phenomena with Quicken is fairly new.

  • Quicken Mac Subscription Member ✭✭

    I have had no issues with balances with my Chase Savings or Checking accounts. My problems have been with my Chase Credit Cards (I have 3 CC with Chase) they haven't matched with Chase ever since the last update that Quicken did, at least NOT until after 11AM Eastern Time! I normally look at & download Quicken at 7AM but since Quicken update,(sometime in Nov) nothing would match until after 11AM. This tells me something is off between Quicken & Chase as to when they Download Transactions. As reference the Balances & Downloads Match perfectly for my Wife's Discover Credit Card, so the problem for me exists with Chase & Quicken!

  • Quicken Mac Subscription Member ✭✭

    I'm having the same issue, Quicken for Mac, but it is only affecting my checking account with Chase. My Savings and Credit Card accounts with Chase do not appear to be affected.

  • Member ✭✭✭✭

    I'm seeing it in both checking and savings with Chase. Credit cards ok. Qmac user.

  • Member ✭✭✭

    I also get the wrong Balance imported from Chase, and it has been going on for over a month or two. However, there doesn't seem any rhyme or reason to the dollar amount displayed in my checking account (currently showing -$390.40 whereas it should be well over $3,000.00!). Been doing manual Reconcile for quite some time but the imported amount is always displayed wrong. Pain in the neck!

  • Member ✭✭

    I like so many other are experiencing this issue. In my case it is clearly a case where the pending transactions in my checking account are not handled properly. Credit cards reconcile just fine.

    This has been going on for way too long. If the issue is with Chase then Quicken needs to find a way to work around the situation created by Chase.

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