Quicken 2006 Payee truncated

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Why does Quicken Deluxe 2006 truncate the last 3 digits of the phone number on the Payee field on downloaded transactions?

First: the payee field is just free form text; there is no telephone number defined there. If you happen to have a phone number there, that was the choice of your financial institution, and not all fi's make the same choice. [I don't recall ever seeing a phone number in the payee field of any of my transactions.]

Second: it's extremely unlikely that Quicken truncated your data. The payee name field currently used for downloading in OFX has a limit of 32 characters. And since the text that goes into that field is controlled by the financial institutions, the most likely culprit is your financial institution for their choice of payee name format.

Personally, I'd prefer that there be nothing in the payee name field ... except the payee name ... if all else was equal ... which it's not.