Trying before I buy: Application refuses bank credentials
Hello,
I've downloaded MoneyDance, have no paid for it yet. Would like to try before I buy. In the app, I've added a new Bank, JP Morgan Chase, checking account, routing and account numbers are both accurate, I've used both my credentials and my wife's credentials and the application refuses to connect. This is when I click, "download"
Does this application not synchronize with JP Morgan Chase? Or maybe I'm missing a prior step in order to connect to my checking account with JP Morgan Chase.
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1 Posted by dwg on 14 Jan, 2025 01:03 AM
I'm a fellow Moneydance customer.
Unfortunately, Chase has discontinued their support for OFX Direct Connect, as of October 2022, Direct Connect is required to download your transactions automatically into Moneydance for free. As an aside it would appear Chase did not inform their customers of this change, and as such we saw many support requests from Chase customers around this time.
Given Chase no longer support Direct Connect this also means that 3rd-party bill pay is also no longer available from within Moneydance for this bank.
Without Direct Connect, you are still able to import your data into the program for free. You can use a web browser to download files from your bank's website. We recommend you download using the QFX file format, which you can import into Moneydance using File -> Import. The steps for manually importing your data are outlined in this article:
https://infinitekind.tenderapp.com/kb/online-banking-and-bill-pay/manual-downloads
It has been noted in the past that the QIF files that Chase provides are faulty, Customer's have logged issues with the institution but the problem, while identified, has never been addressed.
Alternatively, if you're using Moneydance 2022 or later, you can subscribe to Moneydance+. This is an optional subscription service that allows you to download transactions from your banks via an aggregator. You can read more about Moneydance+ in this blog post:
https://infinitekind.com/blog/moneydance-plus-privacy-subscriptions
There is a free trial period so you can fully test downloading from Chase before you are charged. The steps for setting up this service are outlined in:
https://infinitekind.tenderapp.com/kb/moneydance