Connection with US Bank
DonB
via web
Has anyone had experience setting up online banking/downloads with US Bank? After trying setup without success, I called the bank and learned they do not support Moneydance. That may not mean that a connection cannot be made, but I am on my own. Would appreciate any help or suggestions.
2 Posted by james f on 25 Jan, 2012 10:35 AM
You are not on your own. Not here at the Moneydance Forums.
First off: US Bank does support Direct Connect.
Second: When speaking with US Bank Customer Support, never mention that you use Moneydance. Right away they will say that they do not support it, which is a fallacy.
Third: You will need to enable your account at US Bank for Direct Connect for Quicken.
Often times banks will charge a fee for the usage of their Direct Connect systems. I believe US Bank charges somewhere in the neighberhood of $9.99.
You can then setup your account in Moneydance to connect to US Bank.
3 Posted by -Kevin N. on 25 Jan, 2012 01:15 PM
Hi DonB,
Just to add to james f's post.
Providing that your bank allows for manual downloads of your financial data, if you wish to avoid the monthly service fee and are willing to manuallly import your financial data, Moneydance can easilly import OFX, OFC, QFX and QIF file formats.
These file formats are often referred to as Microsoft Money and Quicken formats respectively. Moneydance can also import the CSV file format but it is much more involved. Try to use one of the other formats.
Once you've manually downloaded your data in one of the above mentioned formats you should open Moneydance, then from the Menu bar click on File > Import... An explorer window will open allowing you to navigate to the newly downloaded file.
HTH -Kevin N.
4 Posted by DonB on 25 Jan, 2012 01:46 PM
Thanks for the help. Once I learned that Moneydance follows the same protocol as Quicken, I was able to successfully download from my US Bank account. I've been downloading from US Bank to Quicken for years; I got the "do not support" response from the bank, but was able to get enough direction (using Quicken as a surrogate" to finally make the download connection.
Thanks again.
DonB
5 Posted by james f on 25 Jan, 2012 01:55 PM
-Kevin N.,
Or, what I do with Capital One.
1. I first start Moneydance
2. go to my Capital One account in Moneydance
3. then open my web browser and log into my Capital One account
4. click to download my transactions using Money OFX file format or Quicken QFX format
5. I receive a prompt whether I want to open the file with a program or "Save File"
6. I always choose to open the file with Moneydance
7. then Moneydance prompts me with "Import OFX File" that was just downloaded,(see Picture 14 below)
8. Moneydance then prompts me to "Select an Account" and says"Please select the account having the following account number"
9. since I already have my Capital One account open in Moneydance, it has Capital One already chosen for me
10. I click OK
11. It then imports any or all transactions available into my Capital One register
12. I then go through the process of Merging the transactions with transactions that I had previously put in at time of payment
I guess this same procedure could work with QIF file format, but with how sloppy QIF is, I prefer to download in either OFX or QFX. I usually recommend to users to either use OFX or QFX, if it is available. QIF ought to be used as last resort.
6 Posted by -Kevin N. on 25 Jan, 2012 02:01 PM
13 And it's free!
7 Posted by james f on 25 Jan, 2012 02:03 PM
Correct!
8 Posted by james f on 25 Jan, 2012 02:09 PM
-Kevin N.,
Side note:
With Chase Checking, Direct Connect is free as long as you have Direct Deposit set up and receive a minimum of $500.00 per month in Direct Deposit.
9 Posted by -Kevin N. on 25 Jan, 2012 02:17 PM
Hi james f,
That seems to be a growing trend. Either a direct deposit requirement or a minimum balance requirement.
Either of which I have no real qualms with but IMO plunking down almost $10 a month to access one's own data through an OFX server is outlandish.
-Kevin N.
10 Posted by james f on 25 Jan, 2012 02:25 PM
I second that