As I understand it, there is a fee that Intuit charges the Chase bank, and they are just passing it along to the Quicken user.....
For $9.95 or about $120 A YEAR, I can have the "luxury" of downloading my Chase data via Quicken....
I've been grandfathered since 1999, and have been using Quicken since 2000, but when we "added" a new Chase user ID, to access the SAME ACCOUNTS we were hit with the "new" $9.95 fee !!!
Amazing - what a business model....
Can you threaten to "vote with your feet" to get the fee rescinded (And be prepared to act on it)? I would think/hope that many times a bank will rather not lose a long term (or 'good') customer over something like this...
Check to see what that charge is for. Downloading transactions is usually free but bill paying through quicken is not. Chase will assume you are using the Quicken billpay feature and try and charge you unless you speak up.
Intuit really hit the banks with a big hammer the past couple of years (if the number of banks now charging for access through Quicken is any indication).
Wachovia also has a fee for Quicken users... but ONLY if the transaction is INITIATED through Quicken. Use of the Wachovia website is free, and download to Quicken is seamless. Instead of using the 'update' button in Quicken, I use a download button in Wachovia.
I suspect Chase uses a similar price point. If it is possible to download the data TO Quicken there really is no reason to download IN Quicken, other than the use of the 'one-step' update button to update all at once.
Actually, I belive that Wachovia charges this fee only to new customers. I've banked with Wachovia for about 10 years now and have never incurred this fee. ....And I do initiate my transactions from within Quicken.
On the other hand, I just got off the phone with Bank of America (I'm a new customer there). BofA does charge $9.95 for the same service, uless you pay the bills, etc from their website and then download the transaction into Quicken.
Hello, ps56k! You wrote on Tue, 27 May 2008 11:44:14 -0500:
Saw this and thought - that's the pits; if it were me I would change banks. Then I received a flyer from my bank (Amegy) in my monthly statement that they were going to charge $3/mo for downloading direct from Quicken. Guess what - I'm walking and have told them so. The bank I am going to claims they do not have the fee - they may have it coming tho - my old bank starts charging in July.
Thanks,
Colonel Blip. E-mail: snipped-for-privacy@bigfoot.com
p> As I understand it, there is a fee that Intuit charges the Chase bank, p> and they are just passing it along to the Quicken user.....
p> For $9.95 or about $120 A YEAR, p> I can have the "luxury" of downloading my Chase data via Quicken....
p> I've been grandfathered since 1999, p> and have been using Quicken since 2000, p> but when we "added" a new Chase user ID, p> to access the SAME ACCOUNTS p> we were hit with the "new" $9.95 fee !!!
p> Amazing - what a business model....
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