My wife's 401k is managed by Transamerica. Quicken Premier 2007 for Windows says it's on the Web Connect list. When I Activate the account for One Step Update it takes me to the Transamerica website and the window to set up the online services for this account says One Step Update is not available. Is there any way to verify if it really is, or is not available for Web Connect since one part of the application says it is and another part of the application says it is not?
Cheers, Scott
Ok.
Right.
Try setting up your account at the Transamerica website, and downloading.
"Web Connect" is not the same as "one step update".
It is indeed possible that your financial institution offers WebConnect for download. But, you may have to initiate the download at your FI's website.
I have noticed an increasing trend on the part of the financial institutions I have accounts with, to force a website login, rather than allow transactions to be initiated through Quicken. Maybe it is concern over security (more and more the FI's are asking for more than just passwords to verify accounts - pics that you select to identify yourself, computer id checks, security questions). Maybe it is a reaction to increase charges to banks by Intuit to connect to Quicken via OFX.
Wachovia, where my checking account is, still allows daily updates for free - so long as the downloads are initiated through the bank website. Most of my other accounts allow only monthly downloads (again, initiated through the financial institution's website).
Doh. That's exactly it.
It's actually a reaction to new laws requiring such changes with more changes to come. I guess I should have put those two together. Obviously there must be some way for Quicken to embed a strong authentication mechanism to retain, encrypt, and produce other strong authentication mechanisms for these websites.
Are you serious? Only monthly downloads? Why would they care if you access it more frequently? It's not like you're downloading movies that are gigabytes in size.
Thanks for your help. I simply didn't get the differences between the two forms of download. All is good now.
Cheers, Scott
One of our customers has done exactly that for a corporate banking application. They have embedded cryptographic key-based two-factor authentication into their client software and added support for it into their server. Still pretty seemless to the user but much more secure than image and cookie-based systems that are easily thwarted. It was easier, though, because that one company controls both the server and the client.
Nick
-- Nick Owen WiKID Systems, Inc.
404.962.8983Have something to add? Share your thoughts — no account required.
Ask the community — no account required