Indeed. This is the point I have been trying to make to WFB for the last 3-4 years.
There is no trantype indicator for QIF, which is why they did this crap in the first place; they felt it was more important for people to know whether the card for an account was used as a debit card or credit card before they display the friggin merchant info. Can you think of anything more assinine???
They HAVE been selectively following the OFX specification for the direct connect downloads. For instance, they truncate the Payee field at 32 characters. However, they don't follow the specification. Instead, they continue to put "CHECK CRD PURCHASE ##/## " or "POS PURCHASE - " in the (PAYEE) field. Well, in all fairness, they do put POS as . As you can see, in the first case, they are wasting 25 characters and in the second, 15 characters on virtually meaningless data. This wreaks havoc on the memorization and autocategorization features of Quicken. I can't believe more people, i.e. anyone who banks with WFB and uses Quicken, haven't complained about this.
Consequently, I have NOT upgraded since Quicken 2003. Instead, each week, I download the CSV version of my transactions from WFB, run an MS Word macro on the data to strip out the aforementioned garbage and format the file in QIF form, and then import it into Quicken 2003. My greatest fear in life is that the CSV download will be discontinued at WFB.
On a different note, I think the OFX people should reconsider the 32 character PAYEE/NAME restriction. 64 seems more reasonable and offers more flexibility. Also, I think the OFX folks should amend the spec to include CHECKCRD as a . Currently, they only have POS. I can see that some WFB customers might want to track using their card as a credit card because they are earning points for doing so.
I will post my detailed write-up of the problem RE: WFB and the Payee field.