I can't remember the new name, but it's what has replaced direct connect for many of my accounts.
It appears that it doesn't actually download the transactions until I _open_ the account. I had grown very used to the old way: I could click on one-step-update and go get a cup of coffee and when I got back Q was "ready to go". It now seems that when I got to reconcile or work with an account there's a big delay [like a minute] during which a green pop up appears "downloading quicken data". And so when I wanted to get to-it on what I had to do I get to wait wait wait. Am I the only person that this bothers??
Several FI have been switching from Direct Connect to either EWC+ (such as Chase and BOA) or to just plain EWC (such as Discover). Amex will be switching soon. There are others - these are just the ones that affect me so far.
My experience is that EWC and EWC+ are normally slower than Direct Connect to begin with, and there have also been recent problems with servers that slowed it down significantly more, and even caused it to fail completely. None of these recent server problems affected Direct Connect accounts.
See this link on the Quicken Community discussion boards:
Since you don't download data (which is a big selling point of an internet-based Financial App whether its Q or anything else like Mint, etc. (vs. simply using a spreadsheet, but that's a whole different topic altogether), why would simply having a slower download speed (which was the topic of the OP) 'bother' you?
I'm just trying to ascertain if I'm missing something here.
(FWIW, I haven't seen any noticeable difference in speeds at all).
It's pretty much that way for me still, though I think the total time to complete the download is somewhat longer.
I don't fully understand what you're experiencing there, but what I see is that my Direct Connect financial institutions all complete downloading before any of my Express Web Connect + accounts do (and before Discover which uses plain EWC)
While I would prefer that all Connection Methods complete as fast as the Direct Connect downloads do, I don't find the delay unbearable.
My guess is that since EWC and EWC+ have more entities involved in the downloads than Direct Connect, those downloads naturally take longer to complete. And my guess is also that Quicken plays only a small role (if any) in that longer download time.
What is the confusion? I don't like hearing when software companies make their programs less useful to users. Just because it doesn't affect me, personally, in this particular instance, doesn't mean I think it is acceptable.
Do you usually draw conclusions by making assumptions for which you have no evidence?
I don't believe you'll find any evidence to support the notion that this change was initiated by Quicken (the "software compan[y]"), since it is the financial institutions who are demanding the change.
Nor is this change (from Direct Connect to Express Web Connect +) likely to be a net loss for Quicken users, since it is a better Connection Method for the long run (costs less and employs better security) - meaning more financial institutions are likely to continue to offer downloads to Quicken. And I believe some financial institutions whose best Connection Method is currently Express Web Connect will now give serious consideration to offering Express Web Connect +, which is a definite improvement over Express Web Connect for users.
I know of no users who liked the only previous Connection Method alternatives to Direct Connect: Web Connect (user must log on to FI web site and initiate the download ... very SLOW), or Express Web Connect (also slow, with less security ... which FI's were attempting to compensate for by requiring 2FA which slowed the downloads even more ... and made One Step Updates into Multiple Step Updates, which would not complete, if the user was not present to respond to the 2FA request).
BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here.
All logos and trade names are the property of their respective owners.