Credit Card Downloads Disappearing?

"Walt Bilofsky" wrote

I asked whether there was a trend that cards were removing direct download (as my credit union did), or some motivation for them to do so.

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There is anecdotal evidence that some financial institutions are dropping Direct Connect downloads.

And some may be dropping downloads altogether.

But I don't have any idea to what extent it is affecting only credit card institutions. So far, my few credit card financial institutions are still downloading using Direct Connect.

The reason for the defections from Direct Connect (and downloading altogether): I believe, is cost. [A problem likely exacerbated by the recent consumer "assistance" legislation from Washington putting a ceiling on debit card fees. The current economic malaise can't be helping either.]

Intuit is trying to compensate (IMO) by offering Express Web Connect for more financial institutions, now including even those institutions that don't offer any downloads. An unreliable, costly, process.

[I think the total number of financial institutions technically available for downloading may actually be somewhat higher than ever now ... but many are currently listed as only offering Express Web Connect.]

"John Pollard" wrote in news:jcmbh9$uh5$ snipped-for-privacy@dont-email.me:

I complained to Chase that the direct downloads I had been enjoying for free ever since they took over Bank of New York were no longer free since about July or August. I had gotten refunds for 2 charges, then got a message I was no longer authorized for the downloads. I switched to the more cumbersome Webconnect. The Chase Freedom account kept having problems and still does. However, I explained forcefully to the local branch manager that charging me ~$10 for direct downloads made me steer my credit cards away from the Chase supported cards (also the Amazon card). That meant that they didn't get the fees for the several K $$ I spent monthly on the cards, dwarfing the loss of a $10/mo fee. (It adds up quickly, when adding groceries, gas, and online purchases). Lo and behold,the local branch manager told me that effective about 12/14 Chase no longer charges a fee for customers like me. I promptly enrolled iin DD, and now only have a few little problems that I hope to work out soon.

Don't know about the other but my AMEX downloads just fine.

Just did it a minute ago.

Marty

Oops running Quicken Home and Bus. 2011 on win 7.

Marty