Moneydance Stopped Downloading Transactions From Charles Schwab

Raymond Danahy's Avatar

Raymond Danahy

03 Jan, 2022 11:09 PM

I am using Moneydance version 2021.1 (3069) on a Windows 10 computer. Because I was hospitalized, I had not downloaded transactions from several Charles Schwab accounts for several months. Before my hospitalization all Schwab accounts downloaded flawlessly. Now, none of the Schwab accounts (checking acc plus 2 IRA investment accounts) will download transactions. All non-Schwab accounts download properly.

I have read some discussions about similar problems with Moneydance+ not downloading Schwab transactions. So my question is the following: IS INFINITEKIND ACTIVELY WORKING WITH CHARLES SCHWAB TO RESOLVE TRANSACTION DOWNLOAD ISSUES WITH MONEYDANCE 2021.1 AS WELL AS MONEYDANCE+? I would prefer to continue using MD 2021.1, to avoid monthly Plaid fees associated with Moneydance+. I see no point in upgrading to Moneydance+ if it has the same Schwab download issues. I would greatly an email response to indicate whether you are working on this issue for MD 2021.1. If you don't intend to fix this issue with MD 2021.1, I must regrettably look for a competing software package from another supplier.

  1. 1 Posted by dtd on 03 Jan, 2022 11:29 PM

    dtd's Avatar

    just a user.

    Schwab discontinued OFX downloads on October 1 ... to everyone ... and began to only work with aggregators. (Quicken, of course, is considered an aggregator).

    MD is not working on this issue for MD 2021.1 as they CANNOT fix the issue in MD 2021.1 or any version that used OFX to download Schwab. It is Schwab that made that happen.

    MD is working on the issue with Plaid, an aggregator, as that is their only way forward. They are using the Moneydance+ concept as the alternative to OFX.... However, at this time Investment accounts are not yet working. There is no definitive estimate other than "soon".

  2. 2 Posted by sarah.mccarty on 05 Jan, 2022 10:28 PM

    sarah.mccarty's Avatar

    This is a problem for me, too. Can I export from Schwab to a .CSV file and import it into Moneydance?

  3. 3 Posted by dtd on 06 Jan, 2022 01:17 AM

    dtd's Avatar

    just a user

    If it's a Schwab banking account, then it can be done with a little configuration of the CSV importer in Moneydance. If it is an investment account, that won't import correctly.

  4. 4 Posted by sarah.mccarty on 06 Jan, 2022 02:34 PM

    sarah.mccarty's Avatar

    Thanks so much!

    Sarah

  5. Support Staff 5 Posted by Maddy on 06 Jan, 2022 02:45 PM

    Maddy's Avatar

    Firstly, please accept my sincere apologies for the delay in responding to your query, Raymond!

    At this time, Moneydance+ does not support investment accounts. We are working with Plaid (the third-party aggregator that our Moneydance+ service uses) to enable this, but we can't speculate on when that will be released.
    However, I have flagged this thread and you will be notified as soon as there is an update on the topic.

    Unfortunately, Schwab OFX (Direct Connect) downloads are no longer available. Schwab has disconnected this service without a replacement. We are working to restore a connection through Moneydance+ which was recommended by Schwab as the only way forward due to security concerns on their side. Using Moneydance+ in Moneydance 2022 you can download banking transactions from Schwab accounts, but investment accounts are not yet accessible.

    I hope this information is helpful. Please let us know if you have further questions or need more assistance.

    --
    Maddy, Infinite Kind Support

  6. 6 Posted by art.richard on 22 Jan, 2022 07:20 PM

    art.richard's Avatar

    I am currently running Moneydance Version 2022.3 (4063). When my Charles Schwab Investments quit downloading, I read about Moneydance+. I immediately downloaded the trial and got it working (so I thought). However, no transactions were downloading from my Charles Schwab Investment accounts (3). Further investigation revealed that support for Investment accounts was not yet included in Moneydance+. Based upon past experience with Moneydance support, rather than deinstalling Moneydance+, I paid the $2.00 with confidence that it would be fixed in a short period of time. Not recognizing the complexity of this problem, I have now made 3 payments for a service that I have received absolutely no benefit!

    I know now that I should never have paid the first payment for Moneydance+, but that is my mistake! I guess my question is "How much longer do I have to pay for this service that I'm not receiving?" $6.00 is not breaking my bank account, but if we don't have a fix after 6 months, I will proceed with deinstall and later reinstall when product is working.
    Thanks in advance,
       Art

  7. 7 Posted by dtd on 22 Jan, 2022 08:43 PM

    dtd's Avatar

    just a user

    I signed up for Moneydance+ a bit over two weeks ago and just received my first $2 charge. I was waiting to sign up till Schwab investments worked, but I'd agreed to test the new investment feature.

    So, it is definitely being worked on. I'm still hoping to test the investment changes soon.

    But as to final timing? Only Sean and Moneydance can give that update.

  8. 8 Posted by atwood.t on 07 Mar, 2022 07:35 PM

    atwood.t's Avatar

    Any update on MD+ support for Schwab Investment transaction support?? It is now March. Thank you.

  9. 9 Posted by dtd on 07 Mar, 2022 08:04 PM

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    just a user

    The first PREVIEW release supporting investment accounts came out last week. However all downloaded entries have a zero value (as one of the issues), so another preview is supposed to be out "in the next few days".

    So, I guess - an update - would be, there is now preview(beta) code being released and tested, and at the moment, some fixes need to be made.

  10. 10 Posted by Ray on 07 Mar, 2022 11:41 PM

    Ray's Avatar

    Just a user!
    I didn't want to wait for the development of new download software, not
    knowing how long it would take or how much it would cost. So I found an
    app called TRANSACTIONS by a company called Propersoft. It will
    translate CSV files manually downloaded from Schwab into various
    financial software file formats  (QIF, OFX, QFX, etc.).  Check this
    link: https://www.propersoft.net/products/transactions Their tech
    support responds to questions, and there are lots of training videos to
    help you get started. After translation the files are importable into
    Moneydance. You may have to do some editing in Moneydance after
    importing; but it brings most of the data properly. I import checking,
    savings, credit card and investment transactions - no complex transactions.

    -------- Forwarded Message --------
    Subject: Re: Moneydance Stopped Downloading Transactions From Charles
    Schwab [Problems #76352]
    Date: Mon, 07 Mar 2022 20:04:26 +0000 (UTC)
    From: dtd <[email blocked]>
    Reply-To: [email blocked]

  11. 11 Posted by dwg on 07 Mar, 2022 11:50 PM

    dwg's Avatar

    Moneydance itself can import most CSV files into non-investment accounts.

    It is getting appropriate investment data from CSV files that has always been the challenge as most CSV files do not have the structure nor the required data, for example the defined action types are absent from most CSV files.

  12. 12 Posted by dtd on 08 Mar, 2022 12:06 AM

    dtd's Avatar

    @ray - i have investigated many csv converters, including propersoft.

    Please show a link where they state they handle investment transactions. Checking, savings, credit cards? NO PROBLEM. Please show where they handle stocks and such.

    Thanks.

  13. 13 Posted by Ray on 09 Mar, 2022 11:00 PM

    Ray's Avatar

    I have attached a sample CSV file containing _brokerage account
    transactions_ that I manually downloaded from Charles Schwab. As you
    stated in your email, Moneydance doesn't import CSV files into
    investment accounts. So I use the conversion app called TRANSACTIONS to
    convert the file to a QIF file, which I can then import into MD. As
    noted below, the conversion to a QIF file may not be perfect; but once
    imported into MD you can correct the problems. For example, most
    Dividend transactions appear as Transfer transactions in MD.

    I have converted and then imported investment transactions like those in
    the attached CSV file multiple times, and it works well for me. And I
    don't have months of investment transaction data accumulating while I
    wait for the "downloader" to work properly.

    Ray

  14. 14 Posted by Ray on 09 Mar, 2022 11:19 PM

    Ray's Avatar

    Go to this site;
    https://www.propersoft.net/howto/import-investment-transactions-quicken
    I know that TRANSACTIONS sold by Propersoft can convert CSV brokerage
    investment data to a format that Moneydance will import because I have
    done the conversion and import multiple times.
    Ray

  15. 15 Posted by Ray on 09 Mar, 2022 11:34 PM

    Ray's Avatar

    Try this link:
    https://www.propersoft.net/howto/import-investment-transactions-quicken
    I know that TRANSACTIONS sold by Propersoft converts CSV investment data
    to files that can be imported into Moneydance because I have done the
    conversion and then import multiple times. Sorry if this is a duplicate.
    I am not sure my first attempt went out properly.
    Ray

    <https://www.propersoft.net/howto/import-investment-transactions-quicken>

  16. 16 Posted by dtd on 10 Mar, 2022 01:49 AM

    dtd's Avatar

    @ray - this looks interesting, as what I've tested from Moneydance has many issues as well. I'll check it out. Thanks.

  17. 17 Posted by dtd on 10 Mar, 2022 01:58 AM

    dtd's Avatar

    out of curiosity which level did you buy? (monthly is crazy, but essential looks interesting.) Doesnt seem like the higher levels are real pertinent to this moneydance bit, but now I look to you as someone who may have checked this all out.

  18. 18 Posted by Ray on 10 Mar, 2022 05:16 PM

    Ray's Avatar

    I purchased TRANSACTIONS ESSENTIAL, lifetime license, for for $39.99. It
    seems quite flexible, if you want to take the time to fine tune it to
    your needs. I just noticed that Propersoft also has an app called
    CSV2QIF. You may want to look at that also. At first glance, it appears
    to be less flexible than TRANSACTIONS.
    rAY

  19. 19 Posted by dtd on 10 Mar, 2022 06:41 PM

    dtd's Avatar

    I was aware of CSV2QIF, which was replaced by Transactions.

    I was even aware of Transactions, but I thought it only converted checking/savings/credit cards. Your link made me aware that it could do more.

  20. 20 Posted by roy on 10 Mar, 2022 08:52 PM

    roy's Avatar

    I have been trying this out and have not been able to figure out the best
    way to map the entries in their program. It does bring in the name of the
    stock so that is a little help. But I have not found a way to have it
    bring in the other things and put them in their corroect places.

    Roy

    The trial is free with limited entries but most days I have less than the10
    limit.If I get a bog month can openthe .csv file and break it up.....

  21. 21 Posted by dtd on 10 Mar, 2022 09:57 PM

    dtd's Avatar

    Yes, that's my main concern, and why I've seen very few programs that will
    convert investment data properly.

    Even now, Sean is working with MD+ to make the investment accounts work
    properly. Someone asked at one point why it was taking so long (months) vs.
    regular accounts - and I think these programs reflect the issue.

    And yes - I want the MD+ update yesterday as well.

    From: roy <[email blocked]>
    Sent: March 10, 2022 1:52 PM
    To: [email blocked]
    Subject: Re: Moneydance Stopped Downloading Transactions From Charles Schwab
    [Problems #76352]

  22. 22 Posted by Ray on 11 Mar, 2022 03:48 PM

    Ray's Avatar

    Anyone trying to help you will need much more specific information: What
    financial software are you trying to import to? What data fields are in
    the CSV file and where did it come from? Are you trying to use the
    TRANSACTIONS  app to convert CSV data to a useable format? Are you
    working with a FREE TRIAL version or did you purchase it?

    I had trouble to begin with. I exchanged a couple of emails with
    Propersoft tech support, and I looked at the training videos on the
    propersoft web site. I got it to convert QIF format adequately, but not
    perfectly. I suggest you put your information into an email and send it
    to [email blocked]. They did respond to my questions.

    Ray

  23. Support Staff 23 Posted by Maddy on 15 Mar, 2022 04:35 PM

    Maddy's Avatar

    Hi Ray,

    We've just released Moneydance 2022.3 (4068). This is now available to download from this page.
    Upgrading to this version should allow you to connect to Investment accounts using Moneydance +.

    Please keep us posted on your progress, Thank you!

    --
    Maddy, Infinite Kind Support

  24. 24 Posted by roy on 15 Mar, 2022 04:49 PM

    roy's Avatar

    This comment was split into a new private discussion: Moneydance Stopped Downloading Transactions From Charles Schwab

    Maddy,

    1. Does this work with Charles Schwab to download the transactions there
    now?

    2. Does this insall just use my current license key?

    3. Do I have to add the subscription to the Plaid system previously
    mentioned in these threads?

    Roy

  25. 25 Posted by Ray on 15 Mar, 2022 09:46 PM

    Ray's Avatar

    This comment was split into a new private discussion: Moneydance Stopped Downloading Transactions From Charles Schwab

    Maddy,
    I (and many others, I suspect) would like to see the answers to the 3
    questions that Roy asked below. Please copy me on your responses to
    Roy's questions.

    Ray

  26. 26 Posted by roy on 16 Mar, 2022 01:54 AM

    roy's Avatar

    Ray,

    Same key but yes Support responded and my key will work on the new version.
    But I have to subscribe to Moneydance+. Most likely that is the Plaid
    system link mentioned earlier she did not say. But that is only $2 a month
    and would be worth it if it works.

    I just responded to Maddy (support) asking if it downloads the entries
    correctly before I subscribe. In the past as a OFX downloads came in but
    things like actions, etc were not correct. I am hopeful with this new
    system thy get all the correct information so the come in correctly and I
    don't have to edit each one.

    Not sure why she made the response private, Roy

  27. 27 Posted by dtd on 16 Mar, 2022 02:06 AM

    dtd's Avatar

    You will almost certainly have to do some edits, as that was true even with OFX downloads when they worked.
    The question is not will I have to do edits, the question is how many?

    My initial look (just in the last hour) suggests it may be a bit more than with OFX, but it is much better than having all the prices be 0.0 - :)

    I have found a few items already that are “new” issues, and as a tester, I will be reporting them.

    Part of the issue, as always, is MD can only provide what they are given, whether OFX or Plaid.
    Still, they can work on making sure the data given is properly applied to the account.

    So, don’t be hopeful that it will suddenly be perfect.

    But, you get two weeks free when you sign up, so you can decide during that period.

  28. 28 Posted by Ray on 16 Mar, 2022 02:40 PM

    Ray's Avatar

    I would be curious to hear the results of your Moneydance+ trial and
    your impression of how well it works.

    Ray

  29. 29 Posted by Ray on 16 Mar, 2022 02:44 PM

    Ray's Avatar

    Hello Roy,
    I would be curious to hear the results of your trial of Moneydance+ and
    your impressions of how well it works.
    Ray

  30. 30 Posted by dwg on 16 Mar, 2022 09:05 PM

    dwg's Avatar

    I'm a fellow user.

    I would be surprised if you did not have to do some edits with Plaid downloaded data with Investment accounts, just as you had to with OFX or even QIF.

    Apart from the novel ways that some data can be presented, and we have seen some very creative ones over the years, one of the core problems is that Moneydance does not have all possible actions or substitution for them that can be used hence for some transaction we just do not have a simple ready made way of handling them.

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