Schwab Bank?

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28 Jan, 2010 12:01 AM

Has anyone been able to connect with Schwab Bank? It's not on either list (yes or no).

  1. 1 Posted by Angie Rauscher on 28 Jan, 2010 01:32 AM

    Angie Rauscher's Avatar


    There are several branches of Schwab bank and investment services, some of which support direct connect and some of which cannot. Would you please let me know the exact name of the piece of Schwab you would like to connect to (Schwab 401K, Schwab Retirement Services, Charles Schwab & Co, Inc, or another branch), and I will let you know if we can create that connection.

    Angie Rauscher
    Moneydance Support

  2. 2 Posted by Mac Carter on 28 Jan, 2010 02:13 AM

    Mac Carter's Avatar

    Hi Angie,

    What a nice, quick response!

    We have 4 brokerage investment accounts with Schwab Inc. AND one checking
    and one savings account with ³Schwab Bank². The later is a new bank formed
    by Schwab about two years ago. This bank operates independently of Schwab
    Inc. - the brokerage firm. That is the institution I asked about. I am
    currently able to download all of my investment transactions, balances, etc.
    AND download my Schwab checking account into Quicken for Mac 2007.
    Supposedly, I will be able to also download Savings account transactions by
    the end of Q4.

    Here¹s the context for my question. I am one of MANY disenchanted long-time
    Quicken for Mac users who is vigorously looking for an alternative. The
    pending release of Quicken Essentials for Mac is a major downgrade from
    Quicken for Mac 2007. I¹ve been a member of the beta testing group for over
    a year. I think what Intuit is doing is a disgrace to be blunt. I want to
    find an alternative. However, the alternative must be capable of connecting
    with the specific banks and brokerage firms we deal with in our personal
    life. I am in the process of reviewing your program and cannot, yet,
    determine if I would be able to access and download transactions in the
    banks and institutions we deal with.

    So, hopefully, your response will help me understand what MoneyDance can do
    and can not do. I am also interested in your strategy for taking advantage
    of this incredible opportunity to gain market share with Macintosh Quicken


    From: Angie Rauscher
    <[email blocked]>
    Reply-To: Infinite Kind Support <[email blocked]>
    Date: Wed, 27 Jan 2010 17:32:07 -0800
    To: Mac Carter <[email blocked]>
    Subject: Re: Schwab Bank? [Financial Institution Direct Connection support

  3. 3 Posted by jklan on 28 Jan, 2010 03:09 AM

    jklan's Avatar

    I also have investment accounts with Schwab & Co. Inc. They require connection through a dedicated "Scrubber Server" that Quicken and Microsoft MS Money provided. This was for enhanced security purposes. These servers required that you store your financial data there. I consider a violation of my privacy.

    The information Schawab gave me was that the only option available to us was to download a coma separated value file to Excel. You will find file command on the same line as the History (title) to the left of Export command. I believe you can open it with any spreadsheet that handles .CSV files.

    Perhaps Angie can give us some precise instruction how to process these files into Moneydance.


  4. 4 Posted by Mac Carter on 28 Jan, 2010 12:05 PM

    Mac Carter's Avatar

    Wow, Joel. That¹s interesting.

    I¹ve been downloading my Schwab investment transaction data into Quicken for
    over 3 years. Same with their Bank for my checking account. Maybe the
    Quicken ³scubber² server you describe is transparent to me, but the process
    works just as easily as with any other bank or brokerage institution. For
    example, I used Fidelity Investments for brokerage and banking also with no
    difficulty with downloads to Quicken.

    I also use Bank of America (WA state which you apparently do not support),
    Wells Fargo, Chase, and a few others. I currently download from all of these
    with no issues with Quicken. I¹ve never heard either Schwab or Fidelity
    mention that my data was being stored on separate Quicken servers. I¹ll have
    to check on that.


    From: jklan <[email blocked]>
    Reply-To: Infinite Kind Support <[email blocked]>
    Date: Wed, 27 Jan 2010 19:09:11 -0800
    To: Mac Carter <[email blocked]>
    Subject: Re: Schwab Bank? [Financial Institution Direct Connection support

  5. 5 Posted by Oilcan on 30 Jan, 2010 08:11 AM

    Oilcan's Avatar

    I was able to set-up a manual connection to Schwab Bank in MD 2010.
    Name: Charles Schwab Bank, N.A.
    OFX Institution Org: ISC
    OFX Institution ID: 101
    OFX Connection URL:

    I am a new user of the production (still testing) and I am considering moving off of Quicken (used since 1994). I only have a checking account, but it seems to be downloading just fine.


  6. 6 Posted by Jon Hoover on 30 Jan, 2010 02:59 PM

    Jon Hoover's Avatar

    Hi all,
    Moneydance should be able to connect to both Charles Schwab Inc. and Bank.

    Inc. is on the list, look under the full title of 'Charles Schwab Inc'. We are currently trying to add Charles Schwab bank, keep an eye on the list for that one. And you can try the manual settings suggested above. Please let me know if I can be of any further assistance.

    Jon Hoover, Moneydance Support

  7. 7 Posted by Jessica Little on 30 Jan, 2010 07:57 PM

    Jessica Little's Avatar

    Hi Oilcan,

    Thanks for the note that you were able to connect to Schwab Bank. We've actually be having a lot of problems getting that connection working through Moneydance, and the fact that you are able to connect using the Manual setup points me in the direction of a solution. I need to do some work to verify the fix, but hopefully we'll be able to add Schwab Bank to the list of supported institutions soon.

    Jessica Little
    Moneydance Support

  8. 8 Posted by Mac Carter on 30 Jan, 2010 08:12 PM

    Mac Carter's Avatar


    I initiated this thread and, for some reason, am receiving two copies of
    every message posted on this topic. One message goes to the personal email
    address I used to sign up with your support forum ([email blocked]) and the
    other goes to my business address (the one I am using now to send this
    message). Can you tell me how to eliminate my business address from this


    From: Jessica Little
    <[email blocked]>
    Reply-To: Infinite Kind Support <[email blocked]>
    Date: Sat, 30 Jan 2010 11:57:38 -0800
    To: Mac Carter <[email blocked]>
    Subject: Re: Schwab Bank? [Financial Institution Direct Connection support

  9. 9 Posted by Ben Spencer on 30 Jan, 2010 09:13 PM

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    To be removed from the response list reply to the email with the body of your reply containing:


    and nothing else


    Ben Spencer

  10. 10 Posted by Danielle on 31 Jan, 2010 12:56 AM

    Danielle's Avatar


    I'm not sure if I'm understanding this thread correctly or not, but I'm interested in using MoneyDance with my checking account at Schwab. They've said they don't support ofx files directly and only support downloads to Quicken and MS Money.

    Is this what people are asking for? A direct connection with Schwab's accounts and the ability to download into MoneyDance?

    If so, I would also like to request the same feature.

    I was surprised that with Schwab's robust capabilities they weren't able to provide me with an ofx file or another way to download to MD.

  11. 11 Posted by EllieB on 31 Jan, 2010 05:01 AM

    EllieB's Avatar

    I have been downloading my investment transactions directly from my schwab brokerage account into moneydance for two years with no trouble. I have a brand new Schwab Bank savings account which i cannot yet access directly from moneydance; but i will try calling them during the week and see what I can find out. Since the bank account is accessible from the same page as the brokerage account (one login) I have hopes. By the way, I tried the manual setup suggested by Oilcan but no luck.

  12. 12 Posted by Mac on 31 Jan, 2010 05:16 AM

    Mac's Avatar

    Schwab informed me that they do NOT expect to have the necessary approvals and the tech stuff worked out to allow access to their savings accounts until the end of March.

  13. 13 Posted by erspeiser on 31 Jan, 2010 10:06 PM

    erspeiser's Avatar

    Thanks so much for the info - I'll wait until April before I start bugging

    On Jan 30, 2010 9:16pm, maco
    <[email blocked]> wrote:
    > // Add your reply above here

  14. Jon Hoover closed this discussion on 01 Feb, 2010 01:44 PM.

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