I use Quicken 2007, and it downloads transactions just fine from checking, savings, and credit card with the one credit union account. However, if I try to perform a transfer (pay off credit card from checking), it fails. The error message says my financial institution does not recognize my account XXXXX. Really? It seems to recognize it just fine when downloading transactions, just not when I try to transfer. My account information is all correct in Quicken that I can see. Ideas on what is wrong?
"PSMSR" wrote in news:3tidndVsINFWZ_PanZ2dnUVZ snipped-for-privacy@comcast.com:
Usually there is a signup, or account establishment with your financial institution to let you use Quicken to perform such financial transactions. Often there is a fee for this, or increased balances required at your FI. Ask your credit union how they will let you do this.
It sounds to me like you have left out important information.
Quicken could care less about your financial institution if you try to enter a simple transfer transaction.
So I assume you left out some very important information.
Not all financial institutions allow you to transmit "transfers" to them from Quicken. If your financial institution is one of those, you're out of luck. You can initiate the transfer at their web site - if they allow it - or do without altogether.
And it is even more unlikely that your bank will allow you to transmit a "transfer" of funds from your checking account with them, to your credit card account with another financial institution.
To do that you require online billpay capabilities with the financial institution that holds your checking account. And to do that via Quicken requires that the fi that holds your checking account permits you to submit online billpay transactions to them from Quicken ... which not all fi's permit.
The accounts were setup via Quicken's wizard, so if any information was left out, it was Quicken's failure to ask for it. All data fields regarding the account are populated with data. I don't know what other important information I could provide, nor where else in Quicken to key it in. I will check with the FI to see if they permit transfers through Quicken. They used to, as I used an earlier version of Quicken this way some time ago. Additionally, the FI does permit transfers at their website. The transfer in questions is from a checking account to a credit card, at the SAME FI institution. If I need to adjust some setting, I'd like to know what it is.
I meant you left out important information in your post ... about what your fi allowed you to do and how you were going about it.
How exactly are you attempting to create the transfer?
Is your Quicken account setup for online billpay (that is different from downloading transactions ... it requires the ability to upload instructions, which the financial institution must support).
If there is a number that goes along with the error message, that might be useful. Also an exact quote of the message could help.
Sorry, I misunderstood the meaning of your comment on information.
The transfer is being created in the checking register, using a OXFR type transaction (where "Num" is), made payable to the credit union, with the category as the credit card account. Quicken attempts to make this transaction, and this has worked before, with the same credit union. The transfer shows up in the credit card register as well, as a credit or payment to the account. The FI may have changed their rules or permissions, which I will check on Wednesday.
I am not using on-line Bill pay. Have not tried it.
The error message reads. "Your financial institution cannot recognize the account Checking (xxxxxx-xxx). To continue, review the account information: in the Account Bar list, right-click this account name and choose Edit Account. Compare with information provided by your financial institution and make any necessary changes. If you have changed any information, connect to your financial institution again (Online menu > One Step Update). If you have not changed information, contact your financial institution. [OL-307-A]"
The good news is it's now much clearer what you are trying to do and how you are doing it: it seems like what you're doing should work ... as long as the fi permits it.
The bad news is I don't have any idea what the problem is.
Usually if you have an error number, you can look it up at the Intuit support site ... but there's nothing for OL-307. And nothing I could find using keywords from the error message either.
You could try deactivating the account for downloading (and re-Activating, if you're doing Direct Downloads), then trying your download again. Backup first.
Well, I tried another transfer to no avail, so deactivated and reactivated the checking account. Then tried the transfer again. Now, I can't even download any transactions, for ANY account. The checking, savings, credit card, and car loan (all the accounts) are all met with the error message stating. "Your financial institution rejected your request", or something similar. The error message is OK-301-A. Also, it looks like Quicken will download transactions as far back as the FI permits. Any way for this not to happen. I don't want all that old stuff.
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