I had quite a suprise yesterday with Quicken 2007.
One of my credit card providers (Bank of America) is fairly primitive in it's download offerings - only allowing download on a monthly basis when the credit card statement has been published - very primitive compared to American Express.
Furthermore they do not have a direct connection to Quicken. One must use the kludgy web connect download of an ofx file.
Steps:
1. Run quicken
2. Log into credit card site
3. find statement
4. go to download transactions
5. download them
6. quicken imports the file slowly
This is certainly not as easy as the one step update function that I enjoy with my other accounts.
While performing the above steps, Quicken 2007 asked me if I would like to add this web connect account to my One Step Update! Very interesting!! I said yes and re-entered my logon information. Quicken then added the account, site and login information to one step update. With glee I tried logging on via the one step update.
I was very excited. No more tedious steps. I hoped to track my family member's spending daily rather than chasing them down for receipts at the end of each month. Quicken 2007 logged on and began processing my credit card data.
But nothing happened. I received an error. How disappointing! I was told there was a problem with quicken's web server and they were being made aware of it. Which meant no one step download.
Oh well.... I certianly hope Intuit gets a handle on this and Bank of America switches to real time download.
Have a wonderful day,
makingourway
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"I hoped to track my family member's spending daily rather than chasing them down for receipts at the end of each month."
I can see my spouse's spending daily through Yodlee. I don't track it that closely intentionally, but sometimes, I'll be checking my bank balances for some reason at work, and I'll see, oh, great, M got gas and went to the grocery store this morning. Two things I can cross off my list."
Then I try to act surprised when he tells me what he accomplished. :)
My MBNA credit card does the same thing in Quicken... it will download automatically, but only downloads once a month when the new statement is available. Kind of lame, but at least I don't have to manually log into their site anymore.
Claire,
I've checked out yodlee, however, it doesn't seem like I can access it if my bank does not host the product - anyone have any ideas?
ken, i'm familiar with the mbna product - now that BofA owns them, you'd hope they update it.
regards,
makingourway
sweet - that may make it worth the price of updating to newer pf software - let us knwo if you get this working smoothly.
As of Sept 18th, MBNA has disabled the Quicken Webconnect download function (QFX file). You can download a file, but it will contain no data. MBNA tech support informed myself of this. They instructed me to download transactions into Quicken by using the QIF file. There is one BIG problem. Quicken 2007 (and I think 2006) will not allow you to import using QIF files into a credit card account. If this does not get resolved soon, I will be changing banks with my credit cards.
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