Bank transfers

Hi John,

I'm in the middle of reconcile a large number of downloaded transactions at the moment but a couple of things...

My accounts I'm transferring between are with the same financial institution with the same customer id. When I setup a reoccuring transfer, there doesn't seem to be a place I can tell it to do an online transfer. Does that box come up at the time I actually enter the transaction? If so, then I'm ok, right?

Another question, Quicken setup some of my scheduled payments to credit cards as transfers - is there an easy way to convert the transfer reminders to a bill pay a bill pay reminder to a credit card account?

Thanks, John

You can't schedule repeating online transfers via Quicken. You can do that from your billpayer's web site.

Any online billpay transfer instruction submitted from Quicken to the billpayer, must be a one-time, immediate, transfer.

[I don't know whether the above is true for "Quicken Bill Pay"; I've only used billpay from my financial institutions ... as it appears you are doing.]

You should be able to schedule an online payment to a credit card company (add them to your Online Payee List), with the Quicken credit card account name in square brackets in the "Category" field. That's not an "online transfer", just a regular billpay transaction.

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Hi John,

Thank you for your reply.

I'm not talking about a repeating transfer where you submit an instruction to the bank and it repeats. I'm talking about a repeating reminder that reminds me and facilitates my submission for a transfer each month. Does that make sense?

Yes, but Quicken has them now stored as transfers - I can manually recreate each one and delete the old one but wondered if there was a way to just convert it to a payment seeing I have so many of them!

Thanks for your help, I appreciate it.

John

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No way to do that I know of. To submit an online transfer request, you need to initiate it from the Online Center.

If you want to have some zero amount scheduled transaction that is strictly a "reminder" (which you skip each time it reminds you), I suppose you could do that. But I don't believe you could use that "reminder" in the creation of the online transfer request.

I believe that's what you'll need to do.

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Ok, although it sits in register like nothing happened, an instruction is put in the queue the next time I online update. After updating, the transaction was marked as an electronic transfer with the lightning symbol so it looks fine. So it looks like it works reasonably well!

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As you've noticed, Quicken doesn't automatically send billpay instructions: you need to initiate an update that includes the billpayer.

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Hi John,

Yes, I actually prefer it that way - that's the way Money used to do it...

Thanks for your help, I appreciate it.

John

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