add my banks

drevebernstein's Avatar


01 Aug, 2023 05:37 PM

Please add Ally bank and Charles Schwab bank so I could use Money dance

  1. 1 Posted by dwg on 01 Aug, 2023 10:33 PM

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    Ally Bank has never supported Direct Connect and Charles Schwab made the decision to drop support. so it is impossible for Moneydance to add these organisations.

    The only option to facilitate automatic downloads is if these institutions are supported by the optional (paid for) Moneydance+ add on.

    Schwab are, I do not know about Ally and I have no way of looking it up myself.

  2. 2 Posted by dtd on 01 Aug, 2023 10:50 PM

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    just a user - Ally at least comes up in MD+ as "multiple connections", but since I do not have an Ally account, I cannot push through to verification.

    I have several Schwab accounts, all work with MD+

  3. 3 Posted by drevebernstein on 01 Aug, 2023 11:09 PM

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    When I spoke to schwab bank, the tech guy said it was on Money Dance end
    not schwab's.

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  4. 4 Posted by dwg on 01 Aug, 2023 11:16 PM

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    What utter BS.

    These forums are littered with the result of the actions various banks have taken. Schwab took the decision to end Direct Connect support and push aggregators as their preferred solution.

    The goal of support people it to get you off the phone and for them to close the call. Putting the onus onto another organisation often works well for them to achieve this.

    The owner of Moneydance has told the users that Schwab told him to use an aggregator.

  5. 5 Posted by dtd on 01 Aug, 2023 11:23 PM

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    just a user - Schwab consultants are "sort of right", but also absolutely wrong.

    Schwab dropped a reliable OFX download connection, in favor of aggregators. (i.e. Schwab gives your data to yet another company, but won't give it to you (via a download))

    They now require you to gather your data in financial software via aggregators (Yodlee, in this case Plaid, Intuit, etc.) Moneydance reluctantly did this by creating Moneydance+, and it works, but there is now less privacy.

    So, Schwab saying "this is on Moneydance" simply means Schwab made a decision to give their clients less access, and it is on the financial software to make it work again, and Schwab - the folks who made the decision to change - are not responsible.

    As dwg said, what utter BS.

  6. Maddy closed this discussion on 04 Aug, 2023 04:15 PM.

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