Moneydance+ NOT real-time...
Former user that just started up again. Was trying to set up my accounts using Direct Connect, but couldn't make it work so went with Moneydance+. Issue I'm having is simple, even though I know there are transactions that haven't downloaded to my computer yet, Moneydance+ won't download them on demand, it's like I have to wait for one download every 24 hours. Not a big deal, I suppose, but irritating. Is this normal, and if so, is there a way around it, short of manually entering the un-downloaded transactions?
On a related issue, I'd still prefer using Direct Connect, but my bank recently merged with another bank, and even though both show up on the list, I can't seem to make it work. One bank kicks me out with an error of incorrect login credentials, the other seems to go through, but nothing happens. The banks in question are Glacier Family of Banks, with the recent addition of Wheatland Bank. If anyone has any ideas for a way to get this working, it'd be much appreciated. Later.
Dave
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1 Posted by dtd on 28 Apr, 2024 04:28 PM
It's normal, no way around it. [Except for manually entering un-downloaded transactions... but then you might get duplicates when MD+ catches up, especially in investment accounts]
Direct Connect is what it says it is - a direct connection to the bank. Thus, the downloads will be (near) real time. Unfortunately, as I'm sure you are aware, banks have been dropping direct connect service... (for me, the big ones are Schwab, Chase, and USAA).
If you ask the bank, it's for "better security" which is a crock [us slang - foolish/wrong/untrue].
Banks are abdicating giving their customers THEIR OWN DATA except via their websites, and allowing aggregators to compile your data (with your permission) and then charging to give it to you.
Now, to the delay, which is probably obvious. You aren't connecting to your bank, you are connecting to an aggregator, who also then has to poll your bank for the data. These are not concurrent checks. There may be quite a bit of delay in the aggregator getting your data, and then a further delay for when you ask for it. I've found that the MD+ delay ranges from 2-7 days depending on things like weekends, holidays, and such.
As to your other question, a merge is often a time to drop direct connect for banks. Often 3rd party permission is dropped in the merge. Also, login credentials might get out of sort. The way to try to get this working is to contact the bank you believe to now be handling your data, and give them a call - asking about the transition, whether 3rd party permission is in place, and so on. Always say you are trying to get QUICKEN direct connect working again. One other thing is to go the quicken forums and do a search for your banks - someone really using quicken might have gone through this.
Hope that helps.
2 Posted by dwg on 28 Apr, 2024 10:56 PM
Aggregators will never be real time. They do not have the amount of hardware to do and it would be inefficient to do real time in any case. They may even have agreements with the institutions about when to do it to spread out load.
If you want up to date data you may have to revert to manual downloads and imports. if your bank provides these.
Moneydance did try to automate this some time back but it proved to be a mountain too high, the maintenance load was enormous with the unlimited variety of sites and the changes they go through. Moneydance was never going to get the banks to agree to putting hooks in their pages, like some do with Quicken (and pay for the privilege).
With the institutions getting data from them is your problem not theirs ...
System closed this discussion on 28 Jul, 2024 11:00 PM.