download from financial institutions

A) Yes, it would download redundant data and "match" it with what you had previously input ... so that you wouldn't double-post transactions.

Note, however, that the match is dependent upon the data and amount criteria that you have previously enterred. SO, if you input a transaction as $123.45 with a date of 8/27 and your FI downloaded a transaction of $123.45 a/o 8/28 they'd match ... but if you input $543.21 as of 8/27 they wouldn't. Other variations can result in a "Near Match".

B) It will ALSO download transactions that you forgot to input, FI initiated transactions (such as user fees or interest payments) AND ... erroneous/fraudulent transactions posted to your account. A couple of years back, my wife didn't realize that she'd lost a credit card and the "finder" began to use it fraudulently. I was able to detect the unauthorized usage the next time I downloaded from the FI . I notified the FI, and was able to stop the crooks after they'd run up about $500 in charges. If I'd waited longer, there's no telling what the loss (to the merchant's) would have been. THIS is why I download every day (my CC compandy DOES post every day).

db

thank you. "transactions I forgot to input" - don't be silly!

OK, how about "transactions your spouse forgot to tell you about"?

db