Citibank and Quicken 2006

I just discovered that Citibank is charging $10 per month, per account (unless the accounts are linked), to allow you to download into Quicken.

This seems like an excessive charge.

Are other banks charging fees like this on a monthly basis to download into Quicken?

TIA

Louise

Reply to
louise
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I don't pay anything to download Citi Card transactions.

Wells Fargo charges me monthly fee, to *pay* through quicken, not to download transactions.

Notan

Reply to
Notan

I can't find anything about fees on Citibank, but I don't have an account there. I know my bank gives me free bill pay if I agree to online statements. Maybe there is some requirement like this for you to use direct download. Even with Q2004, I did not use a QIF download for the last couple of years with my bank. I did have an investment that still uses that form.

Clark

Reply to
Clark

louise wrote in news:LyfEf.28807$SD.4449@news-wrt-

01.rdc-nyc.rr.com:

You have to get your checking account converted to an "everything counts" account. They would like you to do investment transactions with it. Then the minimum is $20K, with everything counting to the balance: checking, savings, credit card, mortgage, investing. If you do not have any investments, the minimum is $10K. The fees that you'll get charged if you fall below are very exorbitant, so keep enough in the accounts. When you get your everything counts account, ask for a refund of the last 3 months of Quicken fees, because it was so difficult to find out about that type of account.

Reply to
Han

The Citicard transactions are free to download. But if you're downloading checking account info, as you used to be able to do from a qif file, it's $10 - I spoke to two different techs and both gave me the same answer - but only when I specifically asked "is there a charge for this?"

Louise

Reply to
louise

I didn't find out either until I asked "is there a charge for this?". They tell you you can do it (on the phone), but they don't tell you there is a charge - you'd find that out on your statement.

This is especially true for me because I have two active checking accounts, one a corporate business account, which cann't be linked. Therefore, my payment would actually be $20 per month.

I sent them a "stern" email saying I thought the charges were excessive. Louise

Reply to
louise

With all due respect, I'd imagine that your "stern 'email'" did nothing other than make you feel better. Maybe not.

We've got a Wells Fargo Portfolio Management Account, which basically means that we keep "big bucks" in our account(s).

Nevertheless, WF charges us a monthly fee of $6.95 for the first account, and $3.00 for every additional account, for the privilege of using Quicken to pay bills.

Exceptions? Not according to WF.

Notan

Reply to
Notan

Thanks for letting me know that other banks are charging as well. It still isn't the $20/month it would cost me because the two accounts can't be linked (because one is corporate with more than one signer and the other is personal), but it is a monthly charge and I'm sure it adds up..

As for my email, I did it because if charges like this (and I do think $10/account is excessive) are unquestioned by the customers, we are just endlessly saying ok - ok to a lot of things we don't believe in or agree with. I feel better when I express my thoughts and reactions. Every so often, I even get a positive response and a change in the situation. I wasn't nasty or abusive, just direct and clear.

Louise

Reply to
louise

Don't get me wrong... I do the same thing, as far as feedback to the businesses that I deal with.

But, I'm finding more and more, that businesses are developing an "if you don't like it, leave" attitude.

Too bad... In general, customer service just ain't what it used to be!

Notan

Reply to
Notan

Notan PMA account is a big bucks account? LOL requires $25K only between deposit, Loans and investments. Wells Fargo large balance account is Premire baning account which requires $100K between deposit or investments or $250K with loans.

Not sure where you live but $25K is not big bucks.

Reply to
ob

Louise Citibank waives the Quicken Fee if you have an Everything counts accounts like others said except they misquoted you the requirements. You must have a linked investment account except you dont have to use it. And balance requires is $10K all linked deposit and investment accounts or $20K with loan balances.

Also if you get a Citigold account requires $100K + between deposit and investment balances or $250K with loans they will waive all fee associated with your SSN.

Reply to
ob

Thanks for the info.

I got so annoyed I just ordered Quicken 2004 thinking it's less expensive than paying Citibank's fees.

But I will look into that account for next year because that will be the end of qif as I've know and loved it :-)

Louise

Reply to
louise

I'm at HSBC and pay all my bills electronically through them (via Quicken). I don't pay any charges of any kind for doing this but there are criteria you have to meet. I know the rules changed recently to be more restrictive but I'm still not paying (yet).

We have direct deposit checking and our mortgage is set for auto-payment from that account. Also, we normally have a fairly large amount in the account as it's our only checking account and all cash flow is through this account. We've been paying our bills this way for at least 10-15 years without incident so it's also been pretty stable.

One last thing: I'm pretty sure there may be a restriction on the number of checks you can write for free each month so that may be another restriction to consider. In our case however, we use our USAir Visa Card extensively during each month so that we can gain more frequent flier miles (which we happily manage to use). This has the added benefit of reducing the number of checks written monthly. I normally stay around 15-20/month -- one of which is normally quite large (Visa).

Reply to
Lee Florack

Call them on the phone, talk to a supervisor and tell them you will close your accounts and move on unless they waive the charges.

Reply to
TooTall

Doesn't WF have free Billpay? Why use Quicken?

Reply to
TooTall

I agree with you. Let them know how you feel and also $10 is $10 too much to pay to download transactions. There's too many banks willing to do this for nothing.

Reply to
TooTall

While all you high rollers decide what is big bucks, does any one know if Microsoft Money is discontinuing the qif support? Maybe I'll qif myself to them.

Reply to
TooTall

In addition to Quicken offering features other than "just paying bills," it's a lot easier to have everything at easy disposal, rather than having to reference WF's we site for billing transactions.

Notan

Reply to
Notan

As it turns out, part of my post was incorrect (I hate when that happens!)...

Nevertheless, WF charges a monthly fee of $6.95 for bill paying, and $3.00 for downloading any/all transactions through Quicken.

As a PMA Customer, I called and had the $3.00 fee waived. The $6.95, from what I'm told, can't be waived, as this is a third-party charge.

Notan

Reply to
Notan

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