tag:infinitekind.tenderapp.com,2009-01-14:/discussions/financial-institution-direct-connection-support-requests/3215-rbc-bank-usa-non-business-accountInfinite Kind: Discussion 2018-03-17T03:29:13Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/397085992016-04-22T22:02:47Z2016-04-22T22:02:47ZRBC Bank USA - Non-Business Account<div><p>Hi,</p>
<p>Unfortunately, it doesn't appear that RBC Bank supports direct
OFX connections, which Moneydance requires in order to talk
directly to a bank for any accounts that are not flagged as a
business account. The best way to get your transactions into
Moneydance is to use a web browser to download them from your
bank's web site. You can download into QFX, QIF, OFX or OFC
files (sometimes referred to as Quicken or MS Money files), any of
which will import cleanly into Moneydance. You can also
open your bank's download page directly (after entering the
appropriate address in the Account->Edit Account menu) by going
to the menu bar and selecting Online->Open Account Website.</p>
<p>If your bank begins to support direct OFX connections in the
future, we will be happy to work with them.</p>
<p>Please let me know if I can be of further assistance, and thank
you for your interest in Moneydance.</p>
<p>David Hanley<br>
Infinite Kind Support</p></div>David Hanleytag:infinitekind.tenderapp.com,2009-01-14:Comment/397085992016-04-22T22:23:37Z2016-04-22T22:23:38ZRBC Bank USA - Non-Business Account<div><p>It is my understanding that MoneyDance uses the same OFX
connection as Quicken and should be able to connect where ever
Quicken can. The attached screenshot states Quicken will work. Is
my understanding incorrect?</p></div>Nametag:infinitekind.tenderapp.com,2009-01-14:Comment/397085992016-04-22T23:46:48Z2016-04-22T23:46:48ZRBC Bank USA - Non-Business Account<div><p>There are two methods that personal finance software can use to
access your accounts: direct connect and web connect. With web
connect, the software basically connects to your bank's website and
downloads and imports OFX, QFX, QIF, and OFC files automatically.
Direct connect actually connects to a server at your bank instead
of their website and usually requires different login credentials
than you would use to log into your banks website. From a user's
perspective, these two connections look basically identical.
Moneydance only supports automatic connections through direct
connect and not web connect. RBC Bank is using web connect with
Quicken for non-business accounts.</p>
<p>Please let me know if I can be of further assistance!</p>
<p>David Hanley<br>
Infinite Kind Support</p></div>David Hanleytag:infinitekind.tenderapp.com,2009-01-14:Comment/397085992016-04-23T15:53:39Z2016-04-23T15:53:39ZRBC Bank USA - Non-Business Account<div><p>Thank you for the explanation, David.</p></div>Nametag:infinitekind.tenderapp.com,2009-01-14:Comment/397085992016-04-24T13:30:14Z2016-04-24T13:30:14ZRBC Bank USA - Non-Business Account<div><p>We're currently developing an alternative to Quicken's web
connect, we've found that there are some inherent security flaws
with the protocol that we cannot expose our users to. To use
Express Web Connect you have to give the usernames and passwords
you use to log into your bank websites to Quicken (Intuit). Intuit
then stores these on their own servers. Intuit has to have your
passwords on their servers to be able to connect to the bank on
your behalf. For the technically inclined an important piece here
is that Intuit cannot just store a hash of your password on their
server. They must store your actual password in order to be able to
use it. Storing actual passwords on servers, rather than a hash of
a password, is considered extremely bad practice from computer
security perspective, but in order to provide this service Intuit
has no choice. They almost certainly encrypt the passwords at rest
but they must have the full password available on their server. I
am sure Intuit goes to great lengths to make their servers secure
and I can hardly imagine just how incredibly awful it would be if
Intuit's servers were hacked and their users bank account passwords
stolen.</p>
<p>David Hanley<br>
Infinite Kind Support</p></div>David Hanleytag:infinitekind.tenderapp.com,2009-01-14:Comment/397085992016-04-24T21:21:09Z2016-04-24T21:21:09ZRBC Bank USA - Non-Business Account<div><p>FWIW where I am the banks make it a condition that you will not
give your passwords or PIN to any third party, if you do so they
state that they can refuse to indemnify you for any losses that may
occur due to fraudulent use of the password/PIN.</p></div>dwg