tag:infinitekind.tenderapp.com,2009-01-14:/discussions/switching-from-another-personal-finance-program/15923-trying-to-figure-out-if-bill-pay-is-likely-to-work-with-my-banksInfinite Kind: Discussion 2020-05-27T22:20:23Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/481190822020-02-26T20:10:46Z2020-02-26T20:10:46Ztrying to figure out if bill pay is likely to work with my banks<div><p>I'm a fellow user.</p>
<p>PFM in the context of finances normally means Personal Financial Management.</p>
<p>Direct Connect is the open protocol that Moneydance uses to communicate with banks for the purpose of downloading transactions and optionally Bill Pay or to be more correct Application Base Online Banking i.e. you use Desktop software to transfer funds pay bills etc.</p>
<p>I would not normally expect to see a reference to PFM Direct Connect as the protocol is not limited to personal banking.</p>
<p>I do not know of a way that Moneydance could determine if Bill Pay is supported I would hope when attempting to set it up that the bank's server would send a suitable response if it is not supported.</p>
<p>Many banks do not support Direct Connect for anything more than transaction downloads and the expectation they have is that you will user Internet Banking for bill payment, transfers etc.</p>
<p>You could always try asking them what they support with Direct Connect.</p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/481190822020-02-26T21:56:37Z2020-02-26T21:56:37Ztrying to figure out if bill pay is likely to work with my banks<div><p>Thank you so much, dwg, for your guidance. I want to be able to use bill pay with more than one bank and have all the transactions report-ready every tax season. I am unclear whether I need "integration," if that's the term, from my banks (US Bank and Zions Bank) to be able to do that. I would rather not originate bill pay at each bank and then rely on download. I would rather originate bill paying in Moneydance and be able to categorize, etc. at the time I designate the bills for payment. In your experience, can I expect to operate this way, assuming that both banks at least support Direct Connect?<br>
I want Moneydance to be a long term solution, and of course I am longing for it to resemble the former Quicken which did not require "membership" and add-ons for paying bills.<br>
THANK YOU!<br>
Kathy<br>
On Wednesday, February 26, 2020, 01:10:52 PM MST, dwg <a href="mailto:tender+db1712b2a5@tenderapp.com">tender+db1712b2a5@tenderapp.com</a> wrote:</p>
<table>
<tr>
<td></td>
</tr>
</table></div>gyurkeytag:infinitekind.tenderapp.com,2009-01-14:Comment/481190822020-02-26T22:15:03Z2020-02-26T22:15:03Ztrying to figure out if bill pay is likely to work with my banks<div><p>I'm a fellow user.</p>
<p>Direct Connect is only supposed by a subset of banks in the U.S. and it is an even smaller subset of that group support Bill Pay. I'm not in the U.S. so it is a moot point for me personally.</p>
<p>It appears both banks support Direct Connect, at least for downloads.</p>
<p>If you banks support Bill Pay via Direct Connect then yes you should be able to categorized at the time the transaction is entered. Moneydance I do not think will be you limiting factor rather I think it will be the banks that determine what you can do.</p>
<p>The chance that Moneydance would introduce its own Bill Pay facility I would estimate as almost zero. Moneydance is sold worldwide so it is not viable to do something like that with all the countries and banking systems that would be involved.</p>
<p>At most, those of us outside the U.S. use Internet Banking for bill pay and download and import transactions into Moneydance.</p></div>dwg