Changing from Direct to Web Connect

I think you mean "qfx" format.

I believe you will need to change the name of the financial institution; I think that will require that you Deactivate the account for transaction download. You should leave the account deactivated if you intend to do web-connect downloads to it.

Thanks!

I recently completed the arduous process of converting from JPMorgan Chase to chase.com. That process was painful enough, but the resulting problems are bigger than cost (which I'll get to in a second): (1) they increased the lead time from 4 working days to 6 for most bill payments; (2) they no longer write a paper check for anything; instead they debit your account at the BEGINNING of the lead time to write a bank check, and then deliver the bank check to the payee on delivery day; in some rare cases, they can do EFT, but still they do this like 3 days in advance; (3) the downloaded transaction are more obscure, e.g., some payee names that used to come through now say something like "CHECK PAID" and I have seen cases where Chase assigned check #'s differently from how they were assigned in Quicken. Nightmare. My biggest issue is the cash flow problems that have resulted from their new bill pay system.

I would happily pay more to solve the bill pay issue, but ironically, Chase seems to have stopped charged me anything. I was paying $2.95/mo for banking plus up to $10.50/mo for bill pay, and it all stopped in

6/2005, which is when I believe they absorbed Bank One, which is what precipitated this online services change of theirs.

Where did you notice this?

If you sign up for the free online services and log on to your accounts and you click on one of your bank accounts to get "Account Activity" you look on the right hand side of the page for "Download Account Activity". When you click the download option a new page opens which has "select software format" at the bottom. When you click on "select download type" it give you the Intuit Quicken Webconnect qfx format as an option.

To preface, I have been paying my bills using Quicken from when they first offered this service(at the start using DOS Quicken and the Checkfree service) and now using Quicken Bill pay.

I have been using Chase for a number of years (including predecessor banks that merged or were bought) but have always used Checkfree and now Quicken Bill Pay (which is still done by Checkfree corp) to make my payments, using paper checks or electronic transfers depending upon the creditor. In all cases my checking account was not debited until the date I designated for the payment to be made. I now download transactions from Chase on a daily basis which records all of these transactions into Quicken so I can reconcile my account on a daily basis.

I converted to the Chase direct download with out any problems and am very happy with the service.

I don't use the Chase bill payment service, I like to enter my payments into Quicken, do a Quicken Update to send the payments to Quicken Bill Pay, download transactions from Chase, my credit cards and from Vanguard for my investments with two clicks and a password entry. The only fee I am paying is for Quicken Bill Pay, which considering postage and my time is worth the expense.

Hope this helps Marty snipped-for-privacy@attglobal.net

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Quicken in Jan of 2004 switch from Checkfree to Metaventa. Chases switch in OCT from Checkfree to Metaventa.

If you dont belive me goto Quickenforums.com or call quicken bill pay they will confirm the above information for Quicken. If you call Chase they will also confirm the information.