BofA Charge for Using Quicken

AlanW wrote in news:4g17d4lq3b64e1bvam0vk0oue9rmb6ugfq@

Yes. Intuit, the company that sells (and pretends to support) Quicken, charges banks a fee. Some pass it on to their customers, some absorb it. Mine, Wachovia, eats the fee for customers like me who have been around for a while and maintaine a certian minimum balance.

I guess BoA decided they want you to help pay for that purchase of Merrill Lynch.:)

You might shop around for a different bank, although based on how often this question comes up, the number of free banks is dwindling.

Check and see if there are still other conditions that qualifies you for free electronic banking with BoA. Ours is free but we have bundled our accounts plus mom's account so that we always have a high enough balance to qualify. At one point in time direct deposit of your pay or pension checks also qualified you. You have to ask in order to get the freebie but they do exist. They charged us and when I said not only did we qualify based on balance we also were not using Quicken for bill paying. The BoA bill paying feature is free. When I told the agent that it was enough to convince her to give it to us for free plus refunded several months of the charges.

BTW, the BoA website into Quicken is not a bad workaround. I do that for several of my clients and it works fine. One account actually automatically set itself up for direct connect after importing the file.

Or, perhaps better yet, a **Credit Union** that is owned by it's members for their benefit, not a large commercial bank that is in business to make money for disinterested (in terms of servicing its customers) third parties (sometimes called share holders).

I use Quicken to download directly from the BOA website without charge and works fine- had to get a user name and password on the site but once set up, no issue. Been doing it this way for years and over at least 3 Quicken releases, good luck.

The OP was talking about online banking. I'm assuming this is different than downloading transactions.

Also, I have noted with Citibank that you can download credit card transactions without charge, but you must pay for downloading bank account transactions.

Cheers, Scott

What you're doing is fine if that's what you like, but it's very different from electronic banking through Quicken, which is what the question is about. From my personal point of view, it's that electronic banking that makes Quicken such a valuable product to me.

Gee, thanks for your approval.