Bill pay
Jeff Stewart
I am considering purchasing mondeydance for the MAC, but one area of importance for me is the ability to pay my bills directly through Moneydance. I can see from your website that it has this ability, but it does not really give much more information. Can you provide me any more specifics as to exactly how the paying bills online works with moneydance?
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2 Posted by pvonk on 18 Jul, 2011 07:17 PM
`Moneydance can pay bills, but only if your bank has its internet connection set up to accomodate automatic communications between the bank and MD - I suspect most don't. Mine doesn't, so I place a payment through the bank's web site and then reenter the info in MD. Before, using Quicken, I used Quicken Bill Pay - but for now that doesn't connect to MD or any of the other competators (that I know of). Hence I now rely on my bank's (free) service via the browser.
Your bank has to have OFN (not QFN) set up to allow MD to handle payments directly. I understand that for many banks, there's a charge for this.
3 Posted by pvonk on 18 Jul, 2011 07:19 PM
I forgot to add - if you haven't done so, look for the Moneydance user guide at their site. It gets into details.
Support Staff 4 Posted by Jessica Little on 18 Jul, 2011 07:53 PM
Hi Jeff,
pvonk is correct -- We are able to support bill payments if your bank offers the service through direct connections. If you'll let me know which bank you use, I can check to see if we are able to support bill payments through them.
Jessica Little
Moneydance Support
5 Posted by Jeffrey Stewart on 18 Jul, 2011 07:54 PM
Wells Fargo
Jeff Stewart
Director of Finance/Controller
ATAC
(O) 757-243-8027
(C) 757-816-0566
(F) 757-243-8743
www.atacusa.com
-----Original Message-----
From: Jessica Little [***@***]
Sent: Monday, July 18, 2011 3:53 PM
To: Jeffrey Stewart
Subject: Re: Bill pay [Switching to Moneydance from Microsoft Money?]
Support Staff 6 Posted by Jessica Little on 18 Jul, 2011 08:39 PM
We do indeed support bill payments through Well Fargo. You'll just need to activate your account for bill payments with them. They do charge a monthly fee for this service, but once you're set up, you'll be able to download transactions and pay bills in Moneydance.
Jessica Little
Moneydance Support
7 Posted by scott on 26 Apr, 2012 10:18 PM
Jessica do you know if American Airlines Credit Union supports OFN and direct connection?
Support Staff 8 Posted by Angie Rauscher on 27 Apr, 2012 01:26 AM
Scott,
I'm sorry to say that American Airlines Credit Union does not currently support direct OFX connections, which Moneydance (and other financial software) requires in order to talk directly to a bank. The best way to get your transactions into Moneydance is to use a web browser to download them from your bank's web site. You can download into QFX, QIF, OFX or OFC files (sometimes referred to as Quicken or MS Money files), any of which will import cleanly into Moneydance. You can also open your bank's download page directly (after entering the appropriate address in the Account->Edit Account menu) by going to the menu bar and selecting Online->Open Account Website.
If your bank begins to support direct OFX connections in the future, we will be happy to work with them.
Please let me know if I can be of further assistance, and thank you for your interest in Moneydance.
Angie Rauscher
Moneydance Support
9 Posted by Gary Pennock on 31 May, 2012 01:07 AM
I have been testing Moneydance for the last several weeks and just found out, Wells Fargo will be charging me $9.95 per month to use bill pay with your service. Unfortunately that takes away the value of your product - since other programs do not charge the monthly fee since they are not direct connect. Your fee of $50 (I think that was the amount I saw) plus the $120.00 my bank will charge me makes your product less desirable. Unfortunately I will be staying with MVelopes or switching to Quicken. Please let me know if you are able to correct this in the future and I would be happy to come back. After all...it is about the money and functionality.
10 Posted by james f on 31 May, 2012 04:59 AM
Moneydance does not perform a service, unlike Quicken that actually uses a database center. The service is between yourself and your Financial Institution. Moneydance is just a Personal Financial Management program.
Direct Connect is a service provided by your Financial Institution. Their fee is actually based upon the fact that they pay Intuit, the makers of Quicken, a licence fee for the technology to provide Direct Connect access to their customers.
The $50.00 for Moneydance is not a fee, it is the cost of the program. It is the same as if you were to buy any other program from a retail Outlet such as Best Buy, for instance: Quicken.
11 Posted by Gary P on 31 May, 2012 05:25 AM
Thanks Jeff for your quick response. To be sure, are you saying the charge is to purchase the software and there is no annual fee associated with the purchase?
12 Posted by james f on 31 May, 2012 10:45 AM
Gary P,
That is correct.
And BTW, my name is james f, not jeff.
13 Posted by Gary P on 31 May, 2012 03:19 PM
Sorry James, I was reading the name above from Wells Fargo while typing. Ok, that is good news, I really do like your product and with only a one time purchase cost that would make your product less expensive than say MVelopes. I will need to re-think this.
Thanks
14 Posted by james f on 31 May, 2012 03:49 PM
It's not my product, nor am I associated with the support staff at Moneydance. I am but a seasoned Moneydance user. I've been using Moneydance since 2002 on an array of different computer systems and operating systems over the years.
I actually penned the FAQ that I steered you to and afterwards, one of the Moneydance support team members thought it was good enough to place onto their their FAQ list. I am still very humbled by that move.
These forums are open to all Moneydance users. We help each other based upon our individual experiences. Yes, the forums are closely monitored by Moneydance support staff who also help out when an issue arrises that no Moenydance user can competently help with.
15 Posted by Keith on 09 Oct, 2012 06:51 AM
Jessica, do happen to know whether Charles Schwab Banking supports Direct Connect Bill Pay through MoneyDance? It looks like it supports online banking okay via OFX, but online Bill Payment is questionable. Thanks.
Support Staff 16 Posted by Jessica Little on 09 Oct, 2012 07:57 PM
Hi Keith,
Charles Schwab does not support bill payments through OFX.
Jessica Little
Moneydance Support
Jessica Little closed this discussion on 09 Oct, 2012 07:57 PM.