TD Waterhouse Downloads and Money Market Sweep

Aug 30, 2005 3 Replies
C

Anyone out there downloading from TD Waterhouse?



I have a TD Waterhouse account I've managed in Quicken for years; I use the Money Market option for my sweep account. To manage my sweep interest manually, I setup a security called TD Waterhouse Money Market. Each month, TD Waterhouse would post 2 transactions for my sweep interest: one transaction for the interest and one to buy the money market funds. I used Quicken's ReinvDiv to show the interest receipt and purchase of additional money market securities in one transaction. This method seemed to work well.



I activated the online download today and after completing my first download, I was surprised to find that TD Waterhouse used TWO separate names for the Money Market security. One for buying additional securities (Mon Mkt Buy), and one for selling money market shares (Money market redemption). I tried to change the downloaded transactions to use my single security name before accepting them, but Quicken wouldn't keep the change.



Won't it mess up my holdings to just accept these downloads as they are sent from Waterhouse? Money Mkt Buy is incorrectly high and Money market redemption is negative. Is there something I need to do for the download to work correctly in Quicken? Could this be a bug in Q2006 or a problem with TD Waterhouse?



Another issue/question regards a withdrawl I made. In my downloads was a transaction to sell enough money market funds to cover the withdrawl. It showed as a sell in the download list, but when I accepted it, it changed to a sellshort. I edited and changed it to sell, but on saving, it changed it back to a sellshort. Does anyone know why? I'm not even sure what a sellshort is.



Any help would be greatly appreciated.



I'm using Quicken 2006 Premier Home and Business. Just upgraded yesterday from 2005 Premier, but wasn't downloading Waterhouse using Q2005. Windows XP Pro, SP2



Kindest Regards, Charles Goodman


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C

I got the following response from TD Waterhouse regarding this issue. Not great information, but its honest and sincere. I give them points for that. More than I've seen from other financial service companies.

"Please accept our apology for the problems you are having with the TD Waterhouse Bank Money Market (A000468) transactions. The problems are due to glitches with the way our TD Waterhouse Bank Money Market is downloaded into Quicken.

The glitch occurs when you download "buys" and "sells" in the TD Waterhouse Bank Money Market (A000468). The "buys" will erroneously appear as a new security, "Mon Mkt Buy" instead of "TD Waterhouse Bank Money Market". The "Sells" will erroneously appear as "Mon Mkt Redemption". Quicken will add these erroneous securities to your Portfolio. In order to correct this, you need to edit the security name on these transactions to "TD Waterhouse Bank Money Market" (select it from the pull-down list on the Edit Transaction window).

Unfortunately, we are not able to resolve these issues at this time due to problems with our database vendor. We hope to address the matter soon and regret the inconvenience they have caused you."

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C

Thanks for posting this. I have run into this problem for over a year now, and finally just gave up and have sucked it up. I end up having a portfolio comparison mismatch, so to workaround it, I just ignore the discrepancy. I had contacted TD Waterhouse several times over a 6 month period, but they never gave me as much information about the problem as what they told you, so I'm glad to hear they finally realize there is an actual problem. It'd be nice if they fixed it some day.

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C

I wonder if the fix will come in the conversion to Amerifee.

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