What is the deal with setting up a new PIN?

I am trying to setup online banking. When I connect for the first time, I am prompted to
enter a new password/PIN, and there is an arbitrary-seeming limit of 8 characters in the
new password? This did not happen when I was connecting from another application such as Quicken of MSMoney.

The OFX servers for some banks (SunTrust? for example) include a flag that indicates that
customers must change their PIN the first time they connect. Some servers enforce this so
Moneydance should also. It is a security requirement because these banks usually mail the customer a temporary PIN that needs to be changed the first time they connect to the service. There is an option to bypass this step in case you have already changed your PIN for the connection. The checkbox that bypasses the change PIN process is in the change PIN panel of the setup-connection window.

If Quicken doesn't require that they change their PIN the first time you connect then either:
1) you were using web-connect in Quicken (rather than direct-connect) to download
transactions, or 2) Quicken is connecting to a difference server/service for that bank The OFX service to which Moneydance connects also specifies the minimum and maximum length of the PIN. If this is not the same as the customer's PIN, #1 above is most likely the case and you will have to use a different login/PIN for direct OFX banking from Moneydance.