Quicken is currently unable to verify financial institution information for download QFX file, BofA
I have reviewed some of the other postings but not sure their issue is mine. I have always downloaded from Bank of America. I currently have version R64.30 Build 27.1.64.30 my subscription is valid until May 2, 2026. When I try to update Quicken says that I am on the latest update.
I started receiving this message two days ago.
Answers
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When you do TOOLS, Account List, what shows in the "Transactions Download" column adjacent to your BofA acct(s)?
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
I have this same issue. I last downloaded a QFX file from BoA on Sept. 12 and was able to import it into Quicken without any problems. But, today, I encountered the "unable to verify financial institution information" error message when I downloaded a new file.
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Mods are saying that Bank of America is no longer supporting the download of QFX files, aka Web Connect. If true, why hasn't Bank of America warned about it and/or removed the option to download the qfx from the website is my question.
see the announcement by mods here:
also, my thread about it: https://community.quicken.com/discussion/7966606/bank-of-america-discontinued-importing-of-qfx-files-cc-885-qwin#latest
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will quicken then start using Moving forward, the new supported connection method is Express Web Connect+.
If quicken doesn’t fix this, I will be discontinuing my quicken subscription as that’s the whole reason I have quicken is to balance my Bank of America visa
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We, other Q users, have no way of knowing why BofA didn't warn you. Ask them these questions.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
We're other users, and Q NEVER pre-announces such things. And, your first sentence is so ungrammatical that I'm not sure what you're asking.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP-1 -
I have reauthorized my BofA accounts to switch to Express Web Connect+ and there new are transactions to be downloaded, but they are not being pulled into Quicken when using Express Web Connect+. Is anyone else having this issue?
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I take it by the first sentence you are asking if Express Web Connect + will be supported. If that is indeed your question the answer is yes. That is the whole point. Bank of America has changed over from Web Connect (QFX files) and Direct Connect to offering Express Web Connect +.
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I compared my .qfx file I downloaded today to a file I downloaded a few weeks ago. Outside of the transaction information, all the information matches. For example, the FID and INTU.BID, those numbers have not changed. So, to me, Quicken made a change, not Bank of America. If the bank made a change, the .qfx files I compared would be different, right?
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Almost, but not quite correct. BofA instructed
FidelityQ/Intuit to no longer accept Web Connect downloads.SO, yes, Quicken made the change but at BofA's direction.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
@NotACPA I think you confused Fidelity with Intuit/Quicken Inc.
BofA told Intuit that it no longer wants to support Web Connect. Quicken Inc pays Intuit for “connected services”. Intuit maintains the relationships with the financial institutions and the list that Quicken uses to tell which financial institutions are participating partners and what services they support.
It is a mistake on BofA’s part to still allow downloading the QFX file.
The file is:
if you look up the INTU.BID number in that file (first number on the line) you will see that it doesn’t have WEB-CONNECT on it.
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Brain flatulence, plain and simple. I've corrected it. Thanks for pointing it out.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
Thanks for clarifying. But what are our options going forward? To manually enter all transactions?
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Well, as long as they are putting out that QFX file one possibility is to look for another financial institution that still does support web-Connect for 401k (both will be on that line together) and edit the FID and INTIUT.ID to that number. Be sure to deactivate the connection first, and what out for duplicate transactions on the changeover.
Oh I see that I thought I was on the thread where this was asked about 401K accounts. For non-401K accounts you should be able to setup a Express Web Connect + connection. The same might be true for some 401K accounts, but for my wife’s the only option has always been just Web Connect/QFX file, so that is gone and the above is for that.
The same can be done for other account types but you will have to make sure the right type is available on the line. The types are bank, credit, investment, and 401K (which is used for all retirement accounts)
EDIT: You can also use my free program (ImportQIF) to do the same edit. You can find it at my website. After adding the account on the Setup tab, select the "Convert QFX/OFX to QIF" button to switch it to outputting a QFX file.
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So I don't understand Is BOA or Quicken going to correct this problem with just basic checking acct. or are we still trying to find a solution for downloading transactions on a daily basic, web connect or qfx file. how Do I solve this problem
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The "plan" as I understand it, is for BofA to go to Express Web Connect + exclusively, and drop Web Connect/QFX and Direct Connect. You should be able to deactivate your account for Web Connect and reconnect it with Express Web Connect + by selecting Ctrl+A to bring up the Add Account dialog, and select BofA and go through the authorizing process and then at the end link the online account(s) to the ones in Quicken.
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NOTE that this is BofA's plan. The FI is the SOLE determinant of what download methods (if any) the FI supports
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
Im not a wise computer geek, so what does
"The FI is the SOLE determinant" mean is there something that needs to be changed with Fl will BofA be able to help me with this, Thanks
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@Tim Moeller It means that (the FI equals Financial institution, BofA in this case) makes the decision on what connect methods they want to support. Only they can change it.
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Did anyone find the real solution for this issue? Im on the latest subscription of QuickBooks. I have reconnected my BoA account in QuickBooks and verified it is using the new Express+ connection. If this is something that BoA discontinued supporting, then why do they still allow you the download the QFX file from your backup account online? Wouldn't they discontinue your ability to download if you cannot import it. Doesn't make sense.
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I hope you are actually talking about Quicken, not QuickBooks. This is the Quicken forum.
I don't have a BofA account to check, but you are supposed to be able to setup and use Express Web Connect +.
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It was a Type-O. I'm at work and use QuickBooks in my office. I meant to say Quicken. I have already reconnected my BoA account and it is now showing Express Web Connect +. Still cannot import the downloaded QFX file from my BoA account. I need the last 4 months of entries and the One click update only downloaded the month of Sept.
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Express Web Connect + downloads using One Step Update. Importing a QFX file is called Web Connect, and that is what BofA has told Intuit/Quicken Inc to disable. You can't do that anymore.
You can use my free program to convert the QFX file to a QIF file and import that into Quicken to fill in the gap (but note you will most likely have duplicates to deal with too and the transactions will go directly into the register). You can get ImportQIF on my website.
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What a stupid move for a bank.
If this is not resolved soon I will have to close both my Bank of America accounts and move to Wells or another bank that still works with Quicken.
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Go to "Tools", then to "Account List", click on your Bank of America, then "Online Services", Click on "Reset Account", follow all promts and you should have your downloaded transactions with no futher issues. Hope this helps!!
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Express Web Connect + downloads using One Step Update. Importing a QFX file is called Web Connect, and that is what BofA has told Intuit/Quicken Inc to disable. You can't do that anymore.
Yes, I understand that I have to use One Step Update, but it takes forever on my account(s). That is why I went straight to BOA to download transactions. so, the question is, if anyone knows, when will BOA and others let quicken users directly download from website again?
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A big downside for me is that if you switch to Express Web Connect +, you grant permission for Quicken to store all your financial info on their servers. Using the old method (Web Connect), all financial info was saved locally, on your own computer.
I know Quicken says this was a BofA change, but Quicken should step in and provide a solution that doesn't require us to Quicken free reign to take all our financial info and be able to "share" it with their "affiliates".
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Actually, with Web Connect (where you login to the website and manually initiate the download), NOTHING regarding login was saved in Q.
You needed to input it manually, or have some other tool that remembered your ID & Passwords.
[EDIT] Q can do nothing to require an action by a bank, you've got the relationship backwards. YOUR action would be to change banks if you don't like their decisions and the ramifications therefrom.[/EDIT]
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
I'm not talking about login info, I talking about financial info. Not sure what your point is here.
Banks make changes to their technology all the time. Now they are requiring Express Web Connect + to download transactions. No big deal. Quicken does not need to retain my financial information to facilitate this. Download the transactions from my bank to my local file, then delete them from Quicken's servers. This is their decision to do so, not the banks. One that I strongly oppose and am going to call them out on.
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You, obviously, have no concept of how EWC+ works … and they're not going to re-design it just for you.
Accept it, or change banks. Those are you ONLY choices.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0
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