Schwab now using new "Express Web Connect Plus" (aka "Express Web Connect+"

Take a look at this post from James McAfee

This is what I did to get it to work for me. I deleted only one of my Schwab Accounts FI name. I then did Add Account and picked the Charles Schwab - Investor C Entered ID and Password Quicken and Schwab connect using EWC Download proceeded - had to map (match) accounts - it downloaded 226 transactions to my Regular account which included a new Transaction That transaction came down as a Deposit and not as a Reinv_Inc - all others I had to delete manually My IRA account downloaded about 45 each - deleted manually Each account had a popup about renaming Funds - I told one to ignore - Had to go to Security list - found duplicate Funds - just deleted those with no data. - the other accounts I just told it to ignore. Placeholders showed up for my regular account I just ignored them.

When finished I ran OSU - It ran without a hitch but I did notice that if you go to One Step Summary after running OSU Schwab does not show up - Not sure if this normal for a EWC connected account.

I hope this helps.

This was not a clean conversion. Top it all of they did it on a Thursday and Friday. That means no Phone help if you want it. Chat is available but Phone help is usually better.

Oh yea. Make sure you Back up your data file. Not just once but a couple of times just in case.

Yes, I too had multiple years of "old" transactions downloaded as well, and deleted them manually. But I had absolutely no problem with the 'conversion'. But then again, I only have ONE account at Schwab, and there were plenty of warnings about having to understand some procedures concerning multiple accounts which I didn't need to deal with. It was actually very clean.

Glad you got it to work. Just read on a post that Schwab said Quicken is to put out another update on Monday. Will be interesting if true. This sure did pi$$ed off a lot of people. Especially releasing this so close to a weekend. Like I said my connection is Charles Schwab - Investor C not Charles Schwab like before.

Well I finally got to work and it now shows I am connect via EWC+ and Charles Schwab

Removed all of Quicken using Qclean and removed any other leftovers. I then found a last good backup. Reinstalled Quicken. Before opening Quicken I rebooted computer and then before opening Quicken I installed the R37.25 Patch. When opening Q I had open the backup. When it did I went to use OSU and all it was try to download Quotes. I did a Ctl A to open Acct List. None of my Accounts were activated for downloading. So I activated (Online Setup) my Checking and Credit Cards first. Just to make sure all goes right with them. Next came Schwab. I noticed that my Regular Schwab account had "zzz-" in the Financial Name field. But my IRA accounts did not. I removed the "zzz-". Then proceeded with activating my Schwab accounts. I used my Regular Schwab account for the activation. It also included my other Schwab accounts during this process. It start and had to add ID and Password the Activation log in for Schwab showed up - logged in using Schwab log in & Password. Accepted the agreement. After that was done it asked to click to go back to Quicken. I do so. Once that was done Quicken went through the processing of updating activation and download any transactions. Be patient. It seems like it is not doing anything. Once complete I had some matched and new transactions. Accepted the Matched and deleted the New. I hope I covered everything. I hope it helps.

Did you have many unwanted New transactions? How did you delete the ones you did not want?

I had about 223 in my Regular account and about 26 each in my IRA's. I manually deleted those that said "New" and those that showed "Accept" I accepted them.

I was lucky to just that many. I saw that some people had a whole lot more and were not very happy.

It will be interesting to see what happens when the week begins and transactions are downloaded under this new connection.

I presume you mean you Accepted the downloaded transactions that showed a Status of "Match" (rather than "Accept").

And I presume you "deleted" the "New" transactions from the Downloaded Transactions tab, one by one.

The reason I asked the questions is because - depending on your answers - I wanted to point out that there is now a way to simplify the effort to delete multiple UNwanted downloaded investment transactions. A method, I suspect, many users may not be aware of.

Even deleting "only" 223 transactions from the Downloaded Transactions tab, one by one, is fairly time consuming.

I believe the method for dealing with unwanted downloaded investment account transactions I will describe below is fairly new for investment accounts; I can't recall exactly when it became available, but I think some users may be unaware of it.

In non-investment accounts, the simplest way to delete many unwanted New downloaded transactions is to:

- Deal with all the downloaded Match transactions (Accept as a Match, change to New and Accept, or Delete)

- Individually Accept all the wanted New downloaded transactions

- Manually add a dummy transaction to the non-investment account - details are irrelevant except that you insure you're able to identify that specific transaction later

- Accept all the remaining downloaded transactions (which should now all be New and all be UNwanted)

- Sort the account register by "Order Entered" (that should place all the transactions downloaded in the previous step, after the dummy transaction created two steps ago

- Select all the transactions in the register, starting with the first transaction after the dummy transaction you created, through the last displayed transaction (as you would select multiple files in Windows Explorer)

- Right-click a selected transaction

- Select "Delete"

That should delete all the unwanted downloaded transactions ... from any non-investment account.

It is now possible accomplish the same result in a similar manner in an investment account:

- Deal with all the downloaded "Match" transactions (Accept as a Match, change to New and Accept, or Delete)

- Individually Accept all the wanted New downloaded transactions

- Make sure all the existing investment account transactions you want to keep (including newly Accepted transactions) have been reconciled (have an "R" in the "Clr" column - you can use the Quicken Reconcile dialog for this

- Accept All the remaining downloaded transactions (which should now all be New and all be UNwanted)

- Select "Edit Multiple Transactions" from the Account Actions drop down

- Sort the resulting list of transactions by the "Clr" column (click in the column header)

- Select all the UNreconciled transactions in the above list (as you would select multiple files in Windows Explorer)

- Click the "Delete" button

You said, "I presume you mean you Accepted the downloaded transactions that showed a Status of "Match" (rather than "Accept").

And I presume you "deleted" the "New" transactions from the Downloaded Transactions tab, one by one"

I did a whoops. I Accepted all Matched transactions and Deleted all New transaction. I did it one by one. Time consuming yes. Before each Match I made sure Quicken actually was matching the Register entry. Since there was no "Manual" match in the Investment register I just Deleted them.

I hope this explains what I did. It will be interesting to how any New transactions will be handled when they are downloaded under this new connection.

Thanks for the way to deal with unwanted transactions. I saved it for the future.

I have a feeling other Financial Institutions are going to go this route. This is from Schwab in case you have not seen it.

In the following Community discussion, see Sherlock's reply to Chris_QPW (on November 23, 2021 @ 2:44PM).

Schwab Express Web Connect + Is Schwab using Capitol One as the interface for downloads? Found at:

Just to be clear, Express Web Connect+ is less secure and less reliable than Direct Connect or Web Connect. The motivation for Schwab's decision to drop Direct Connect was financial. My advise is to maintain the accounts manually or move the accounts to a financial institution that supports Direct Connect or Web Connect.

Did you check the "Cleared Status" (heading="Clr") of the existing Quicken transaction before and after you accepted each downloaded match?

I've been having a lot of trouble with this Schwab switch to Express Web Connect +, so I've done a fair amount of testing.

In my most recent test, after processing all other downloaded transactions, I did an Accept All on the remaining downloaded transactions (which were all Match transactions at this point). My evidence suggests that each of those downloaded "Match" transactions that matched a reconciled transaction, changed the Clr column from "R" to "c" in the pre-existing Quicken transaction.

Before I did that Accept All of the downloaded Match transactions, my Schwab account(s) were all reconciled through August of 2021. After I accepted all the Schwab downloaded Match transactions, a bunch of previously reconciled transactions had reverted to a Cleared Status of "c" -- going back to July of 2020.

Pretty bad when you consider that those downloaded Match transactions should never have been downloaded at all.

If you use your right hand to click "Edit", then "Delete" and your left hand to press Enter (in the Downloaded Transactions tab), you can make relatively quick work of deleting a bunch of downloaded transactions. And that may now be the best way to deal with the Schwab downloaded Match transactions. [I haven't yet tested re-reconciling the Schwab accounts.]

You said, "Did you check the "Cleared Status" to be honest I did not. I just made sure that if it said Match the Register matched the Download Transaction. Note: that each of the Matched transactions were from 2019, 2020 and a few from 2021. The "New" were from the same time period but as I said before there was no way to Manually Match those transactions. Would have been nice to do. But I did do a Reconcile of the Register after I did the "Accept" and "Delete" of the transactions. From what I have seen I was sort of lucky to only have to this with about 223 in my Regular account and about 26 each in my IRA's. I saw people had much more. I am just waiting for some Month end and year of distributions to see if they are download properly. Since I already know when some of the Month and Year End transaction will be hitting my account I will check the Schwab web site before I download any transactions. See this Post about Resynching

Since my accounts at Schwab were opened in May 2020, I had no matches prior to that opening date. But the problem wasn't the time frame of the Match transactions: it was that accepting the match transactions UNreconciled the transactions they matched.

As I see it, that will be necessary for everyone who accepts Match transactions the first time they download from Schwab using EWC+ ... even it their Schwab account was already totally current (so no legitimate New transactions downloaded), and all existing transactions were reconciled before the download.

I had already read that discussion; but I have known for a long time that switching to, or from, Express Web Connect usually downloads duplicate transactions ... and why. The problem is solvable, but it would require cooperation between the parties - given the length of time the problem has been happening, it seems that cooperation is not likely to happen. And given the fact that there were downloaded "Match" transactions, it seems unlikely that the typical inconsistencies between Transaction ID's when switching to/from EWC explain the problem - normally, there would be no "matches" after such a switch.

But to my knowledge, Accepting a downloaded Match transaction has never before changed the Cleared Status of the matched transaction from "R" to "c". The purpose of my most recent previous post was just to alert other users to this potential problem.

Just came across this post

Yes, I described the "Edit Multiple Transactions" approach in an earlier post in this discussion - on Nov 21, 2021, 9:13:47 PM (4 days ago).

In order to make the "Edit Multiple [investment] Transactions" approach reasonable, I believe the user will need to insure that all existing investment transactions in the account are reconciled, before Accepting any downloaded transactions.

And, in this specific (Schwab) situation, the user will still have a problem if they accept downloaded Match transactions and those Match transactions UNreconcile the transactions they match.

It's been reported that the fees Quicken charges financial institutions for Direct Connect are substantial. As the number of users managing their finances on PCs drop, I'm surprised there haven't been more major banks like USAA bailing out.

It is not Quicken charging the financial institutions fees for Direct Connect. It is Intuit.

Intuit doesn't charge financial institution's a fee for Express Web Connect as it enables them to gain access to valuable customer data. Quicken pays Intuit for access to the data which may contribute to Quicken's higher price.