Anyone know a bank that supports Bill Pay through MoneyDance?

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aarwdc

13 Aug, 2017 02:14 PM

Hi
Unfortunately even for banks that support Direct Connect on the list, it is impossible to know whether the bank supports Bill Pay until you actually open an account.
Found that out the hard way when I actually opened a new account with a local credit union that supports downloads, but not Bill Pay.
 
So... does anyone know of a bank - greatly prefer Credit Union actually, keeps our money working for the people - that supports Bill Pay through MD?
I am in Colorado, but don't think the bank need to be local, if they have good online options.
Thanks

  1. 1 Posted by avp2 on 04 Sep, 2017 03:45 PM

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    Wells Fargo does Bill Pay - and it is free (for me at least). It does have a peculiarity in that payments made by direct connect do not show on-line until cleared and payments made on-line do not show in direct-connect until cleared.

    Capital One, Chase, Bank America and USA Bank also had non-free direct-connect bill pay a few years ago, but I have not checked lately.

  2. 2 Posted by aarwdc on 04 Sep, 2017 05:33 PM

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    Thanks for answering that, it was up a long time before anyone responded.

     I guess this is where I have to choose between my moral outrage at those big, crooked banks (particularly Wells Fargo) who perpetrated the 2008 collapse, and my desire for convenience. Just closed my account with Wells a couple of years ago.

    I have been trying to only deal with credit unions or community banks, or at least smaller banks more likely to keep the money local.
    If we all moved our money to those banks, we would knock those players down to size.

  3. 3 Posted by avp2 on 04 Sep, 2017 06:11 PM

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    I have been with WF for many years now as they bought up the investment firm that had my IRA’s. So far, they have treated me well. But the latest story about them lying to Congress has got me thinking about dropping them too.

    Unfortunately, we do not have a local CU, or small bank, that does OFX/direct connect. I really do not want to go back to writing checks and web upload/download is a lot less convenient.

    Al Pawlowski
    Los Osos, CA USA

  4. 4 Posted by aarwdc on 04 Sep, 2017 06:27 PM

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    WF never personally treated me badly either, and my money moving elsewhere has less effect than a flea on a dogs back, but its the principle - no pun intended.

     Elevations CU in Colorado has excellent online options for people out of town, and with CU's, are all interconnected, so you can do many things in any branch of any CU in the country, I think, It supports direct connect downloads, but unfortunately not bill pay.

  5. 5 Posted by avp2 on 04 Sep, 2017 06:39 PM

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    I just found a Credit Union that does OFX and the local branch is only 15mi away - The Golden 1. Will be checking it out.

    Al Pawlowski
    Los Osos, CA USA

  6. 6 Posted by aarwdc on 04 Sep, 2017 07:11 PM

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    Let me know if they support bill pay, thanks!

  7. 7 Posted by dwg on 04 Sep, 2017 09:14 PM

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    Don't banks in the U.S. provide services by the way of their web sites that provide logins where you can pay bills?

    If they do thee you could use these for the bill side and then direct connect to just retrieve the transactions and load them into Moneydance.

  8. 8 Posted by aarwdc on 04 Sep, 2017 09:39 PM

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    That is a less optimal solution,though it would work. It requires the extra step of navigating the bank's site to make a payment, and then going back later and reconciling that payment into MD.

    Further, it prevents one from setting up autopayments from within MD, which I believe it will do, and being able to project future budgets based on that. I presently do that with quicken, and I know exactly what my balance will be in 2 weeks, after already entered payments leave the account.

  9. 9 Posted by avp2 on 13 Sep, 2017 03:44 PM

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    No luck. Setup an account. They have OFX direct connect download, but only web Bill Pay.

    Al Pawlowski
    Los Osos, CA USA

  10. 10 Posted by aarwdc on 13 Sep, 2017 04:15 PM

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    Unfortunate.

    So, based on the general non-response to the question from
    the community, Wells Fargo appears to be the only bank in
    existence in the US that allows no-extra-charge billpay
    through direct connect.

    Please correct me if I am wrong.

  11. 11 Posted by avp2 on 13 Sep, 2017 04:32 PM

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    You may be right. I just called SESLOC credit union who also does not offer OFX bill pay. US Bank (US BankCorp) says they do, but I have not tried them.

    Al Pawlowski
    Los Osos, CA USA

  12. 12 Posted by aarwdc on 13 Sep, 2017 04:53 PM

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    Thats better phone results than I have gotten. Most banks
    have no idea - they either work through quicken or not.

  13. System closed this discussion on 13 Dec, 2017 05:00 PM.

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