Online Bill Payment
I'm trying to convince my local bank, River Valley Community Bank, to support Moneydance like they do Quicken. I have made numerous calls to them in this regard. They say they have no relationship with Quicken - and I understand that - and Quicken apparently uses OFX to work with the bank. What do they need to do to allow bill payment with Moneydance?
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1 Posted by dwg on 02 Feb, 2024 08:30 PM
Your bank would need to provide Direct Connect services, including online bill payment.
There are various ways of providing data in OFX format for transaction information, Direct Connect is one. Quicken does also support this, but they also support Web Connect/Enhanced Web Connect which Moneydance cannot support but this does not provide online bill payment. OFX data is also available from Many institutions in the form of OFX files. All of these methods use the OFX specification at leas partially
The full specification for OFX can be found at:
https://financialdataexchange.org/common/Uploaded%20files/OFX%20files/OFX%20Banking%20Specification%20v2.3.pdf
It seems banks are becoming more and more reluctant to provide direct connect download services let alone online bill payment. For online bill payment they seem to focus on customers using their internet banking capabilities provided through their web sites.
System closed this discussion on 03 May, 2024 08:30 PM.