I just found out that my bank does not work with Quicken (Mobile Oil Federal Credit Union) I filled out the request on the quicken web site to have my bank added to the list of supported banks, my question is what are the odds of my bank actually supporting quicken? I am considering switching from Money because I am having some problems downloading transacations but if quicken does not support my bank at all I guess I am stuck with Money.
What are the chances? Not very good. It's really up to the bank. Intuit is always happy to have new banks on board because it enhances their revenue. So they are not your problem.
Your best bet is to talk to the bank. The decision is in their hands.
I just checked with the bank and they are already considering supporting quicken but the problem is that quicken wants the bank to pay in order for the banks customers to be able to use quicken. Too bad that quicken has taken that type of approach.
I don't think "Quicken has taken that approach." I think the banks have had to pay for some time. From what I've seen here and my own experience the banks don't want that expense. They now offer their own version of bill pay on their own web site. It sucks!
It doesn't beg the question at all. It's an expression of my view that working with Quicken is the single most important aspect of choosing a bank. It's also my recommendation to the original poster that he change banks.
Although there's no reason why it should be a secret, it's completely irrelvant to the point I was making. There are many banks that work with Quicken.
Is this a trick question? I mean you just got through saying that your bank doesn't work with Quicken. Then you ask what's the odds that your bank will support Quicken?!? My guess would be - the odds are currently
0! ;-)
Personally I'd seriously consider getting a new bank.
I doubt seriously that you will be significantly enlightened on this question ... because there are too many subjective observations/decisions involved in your quest.
But I can tell you that my personal experience is that fi's do listen to their customers when it comes to providing Quicken downloads. It is definitely a MUCH bigger question than meets the eye: the fi has to consider specific factors, the details of which, their customers will never be able to know.
I deal with several fi's that have changed from not offering Quicken downloads, to offering them during the time I have used Quicken. I know that I made it clear to those fi's that I very much wanted Quicken downloads ... and that Direct download was the preferred method. Each of those fi's responded to me that they were definitely considering my request.
I am one person; as such I get only one vote. So I am not even suggesting that my vote alone changed any tide. But I know that my vote was considered. So will yours.
This has been Intuit's financial model for several years now. You don't think that they make any real money on Q and TT, do you?? The real profit is in services...
Whatever your bank decides, don't expect it to be free without some restrictions being added........
Restrictions are usually in the form of requiring a minimum balance. My bank, Bank of America, requires a minimum balance, but that's not a problem for me. I keep a minimum balance there anyway, since it entitles me to a number of extra benefits, not just Quicken billpay and downloads.
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