University FCU does not work with online banking

csratx's Avatar

csratx

01 Apr, 2015 04:56 PM

I started using Moneydance because on their site www.moneydance.com/if states they support online banking from University FCU. Of course when I set it up in the app and entered my credentials it was rejected. Checked the support forum and was instructed to contact the bank. The bank informed me they have never supported direct connect and will not in the future due to security issues. So Infinitekind is stating banks are compatible when they are not. That is very misleading and quite frankly a pretty bad customer experience. I also don't believe that downloading and importing quicken files is good solution, these are computers that do these tasks well on their own. So Infinitekind get it together and stop lying about your support. I will also be notifying apple about the iTunes store version being misleading and not fully disclosing it's incompatibilities.

  1. 1 Posted by Scott Meehan on 01 Apr, 2015 06:20 PM

    Scott Meehan's Avatar

    Hi Csratx,

    We do support direct connections with University FCU and they do have "Direct Connect" support (I just tested the connection in Moneydance), so their tech support must have been mistaken. Tech support at financial institutions is often not highly trained and not aware of the different connection technologies in place, which is why enabling "Direct Connect" access can be slightly challenging at times.

    You can usually accomplish this by asking your bank to set up your account for direct connections from Quicken. Moneydance uses exactly the same OFX server connection protocol as Quicken but your bank representative may not know this and mistakenly believe that you can not connect in Moneydance. Calling up your bank and stating precisely the following should get you started. "Please enable direct connect on my account such that I can connect to your servers directly with Quicken. Also give me the login credentials I need to connect Quicken to this service." Saying this specifically usually works.

    Application-based online banking often requires a different login/PIN than the ones that are used for ATM or web-based banking. When you enable your account for access from Moneydance or Quicken, your financial institution should let you know what customer ID/login and PIN to use. 

    Please let me know if I can be of further assistance, and thanks for your interest in Moneydance!

    Scott Meehan
    Infinite Kind Support

  2. 2 Posted by csratx on 01 Apr, 2015 06:26 PM

    csratx's Avatar

    Thank you Scott for your response, however I have spoken with a number of people at UFCU who knew what I was talking about and even gave me the link on their news page stating they do not support direct connections only web connections. They even pointed to quicken support who also confirmed that UFCU does not support direct connections. As a customer I am not going to get in the middle of you and banks who can’t work things out. If the bank won’t support it, then your app has no use to me. As of right now I am using iBank which has no issues getting connected, just hate the interface.

    -- 
    Charlie Robinson

  3. 3 Posted by csratx on 01 Apr, 2015 06:31 PM

    csratx's Avatar

    Here is the link that UFCU sent.

    https://www.ufcu.org/personal/learn/tools-advice/financial-tools/faqs/pfm

    -- 
    Charlie Robinson

  4. 4 Posted by Scott Meehan on 01 Apr, 2015 06:37 PM

    Scott Meehan's Avatar

    Hi Charlie,

    I understand and thanks for your interest in Moneydance! Please let us know if we can be of further assistance!

    Scott Meehan
    Infinite Kind Support

  5. Scott Meehan closed this discussion on 01 Apr, 2015 06:37 PM.

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