PNC Bank Web Connect

Angela's Avatar

Angela

05 Mar, 2016 04:41 PM

Here is the issue:
- Moneydance only uses Direct Connect with PNC Bank
- PNC Bank can not allow direct connect for Virtual Wallet accounts (because it is all one account as far as direct connect can tell, but it's actually three or more separate accounts on PNC's end)
- The only alternative PNC Bank customer service could offer me was to use Web Connect instead of Direct Connect, which is not currently offered by Moneydance.

I'm getting by recording the transactions manually and/or using the csv file import extension in Moneydance. But it would be SO convenient to have my transactions reconciled automatically. Is there any particular reason you don't support this connection? Is it in development or on the pipeline to be developed any time soon? Or do you have some good reason it will never be implemented?

  1. 1 Posted by Ben Spencer on 05 Mar, 2016 05:21 PM

    Ben Spencer's Avatar

    Web connect is not a standard connection protocol. With Quicken Express Web Connect the banks don't have to support any special protocols. Quicken's server pretends to be a human and logs into your bank's website for your. It will navigate to wherever the transaction file download link is and download the QFX, OFX or QIF file for your. The Quicken server aggregates these downloads and stores them on its own server. Quicken's server will do this on a regular basis, typically every day. Then when you run Quicken, instead of connecting to the bank's server directly, Quicken connects to the Quicken server and retrieves everything it has ready for you.

    To use Express Web Connect you have to give the usernames and passwords you use to log into your bank websites to Intuit. Intuit then stores these on their own servers. We think that this is a huge security risk and that is why we do not have a similar system to Web Connect. Trusting a 3rd party with your bank username and password in not something we ever intend to ask our users to do.

    Ben Spencer
    Infinite Kind Support

  2. 2 Posted by Angela Berardin... on 05 Mar, 2016 05:39 PM

    Angela Berardinelli's Avatar

    Ben,

    Thank you very much for your detailed and quick response. This is a very
    good reason not to support web connect! And it's related to one of the many
    reasons I chose Moneydance - the fact that my financial and other sensitive
    information is not gathered and stored on a remote server.

    Keep up the good work!

  3. Jenny closed this discussion on 07 Mar, 2016 01:17 PM.

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