Capital One

Jim's Avatar


03 Jun, 2020 08:19 PM

Can't connect to my Capital One account.

  1. 1 Posted by dwg on 03 Jun, 2020 09:36 PM

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    I'm a fellow user.

    Capital One removed their support for Direct Connect some time ago. Direct Connect is the only open protocol for automated transaction downloads. The best way to get your transactions into Moneydance without this is to use a web browser to download them from your bank's web site. You can download into QFX, OFX, OFC, or QIF files (sometimes referred to as Quicken or MS Money files), any of which will import cleanly into Moneydance.

    There have been previous discussions on this see:

  2. 2 Posted by alfyj72 on 14 Jul, 2020 09:51 PM

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    I was able to download tranactions from my Capital One QuickSilver credit card into Quicken 2017 as late as May 2020. How does Quicken accomplish this? Capital One is the 6th largest credit card issuing bank in the US with 62 million cardholders according to How can Moneydance expect to compete with Quicken if they can't work well with such a large credit card holder. Downloading and importing QIF files is just so cumbersome. You guys need to try harder, contact Capital One at a high level and get someone with some knowledge and authority to work with you on this issue. Otherwise, people like me will go back to Quicken. I am very skeptical of your statement that Capital One does not support a way to automatically download transactions into personal finance software.

  3. 3 Posted by dwg on 14 Jul, 2020 10:30 PM

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    I'm a fellow user.

    In the U.S. there are two protocols used to download transactions.. Direct Connect is the only open protocol that is free for everyone to use. This is what Moneydance supports. The other protocol is Web Connect, which should really be called Quicken Web Connect as it is a proprietary protocol developed and owned by Quicken and licensed to the Financial Institutions to use.

    Web Connect is layered on top of a Institutions Internet banking site so even paying Quicken it is likely to be cheaper than using Direct Connect and hence attractive to some.

    US financial institutions I believe are less likely to be receptive to a small market player like The Infinite Kind which also happens to be based outside of the US. Quicken has the largest market share so the institutions do enough to support it.

  4. Support Staff 4 Posted by Maddy on 15 Jul, 2020 09:09 AM

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    I can see you’ve received a reply from one of our knowledgeable Moneydance customers.
    To add to this useful information I thought it's worth mentioning that Moneydance only supports automatic downloads using Direct Connect, and unfortunately Capital One no longer support this connection method.

    Capital One use other connection methods that Moneydance does not support, called Web Connect and Express Web Connect.

    By only using Direct Connect, we can guarantee that your username, password and financial data only ever exists with your bank or on your own personal computer, and at no point are your details stored on another server.

    You can read more about why we only support this connection type in our blog and also in this article.

    Without Direct Connect, you are still able to easily import your data into the program. The best way to get your transactions into Moneydance is to use a web browser to download files from your bank's web site.

    We'd recommend you download using the OFX or QFX file format if available. If not, use the QIF file format. (These files are sometimes referred to as Quicken or MS Money files). You can import the files to Moneydance using File --> Import.
    The steps for manually importing your data are outlined in this article from the knowledge base.

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

    Maddy, Infinite Kind Support

  5. 5 Posted by alfyj72 on 15 Jul, 2020 04:17 PM

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    So why don't you support Web Connect? From Wikipedia Proprietary Protocol Page: "Reverse engineering is the process of retrieving a protocol’s details from a software implementation of the specification. Methods of reverse-engineering a protocol include packet sniffing and binary decompilation and disassembly.

    "There are legal precedents when the reverse-engineering is aimed at interoperability of protocols.[8][9][10] In the United States, the Digital Millennium Copyright Act grants a safe harbor to reverse engineer software for the purposes of interoperability with other software.[11][12]

    Admittedly this is a complex legal issue beyond my ken, but you guys should seriously think about not being so willing to accept pat answers like those above, and seriously look into what it would take to support Web Connect, either by reverse engineering from Wireshark traces of Quicken communications with Capital One, or even trying to license the protocol from Quicken.

    You could also contact Capital One at a high level and ask why they don't support Direct Connect and see what you can do allay their concerns, instead of simply accepting that they discontinued support for it. Is there a Direct Connect consortium that might be able have a better avenue to contact Capital One.

    It is also interesting to note that you support Direct Connect with Capital One Investing. Could you exploit that fact in discussions with Capital One?

    If you are not willing to seriously try to push the envelope, you may continue to be only a small player.

    Also, are you aware of, or working on, FDX support for MoneyDance? Are you a member of the OFX or FDX consortium?

    Alfy Johnson, Gibson Island Maryland

  6. Support Staff 6 Posted by Maddy on 21 Jul, 2020 07:47 AM

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    Hi Alfy,

    As it was mentioned earlier it is by only using Direct Connect that we can guarantee that your sensitive data only ever exists with your bank or on your own personal computer, and at no point are your details stored on another server.

    We consider the security of your financial data an enormous responsibility. We fiercely believe that your financial information should be secure and only accessible to yourself, your financial institution, and anyone with whom you explicitly choose to share it.

    Moneydance never sends any financial information, statistics, or online banking credentials to any service other than your own financial institution. Your financial data and online banking passwords are only stored encrypted on your computer. If you have enabled syncing, your financial data, but not your online banking passwords, are encrypted before being uploaded, only to the syncing system that you use. Your information is never accessible to anyone unless you copy it and explicitly share it yourself.

    This may sound like common sense, but it’s actually unusual. The current trend is personal finance tools that require the sharing of your private financial information with advertisers, unrelated financial services, or simply third party aggregation services. We can assure you that Moneydance will never require such sharing to work.

    Maddy, Infinite Kind Support

  7. Support Staff 7 Posted by Sean Reilly on 21 Jul, 2020 08:51 AM

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    In addition to what Maddy mentions, we are actively working on implementing a similar mechanism to what is called Web Connect.

    Web Connect is basically an embedded browser that automates the login and downloading of transactions from a bank's web site. It is easier for banks in that they basically just need a relatively simple login page, account selection, and file download. Quicken in the past couple of years has taken the route that this login+download process is done on their servers, but we are committed to doing it on your own computer where it will be under your control. The main difference there is that Moneydance ensures security and privacy, but it is a bit more difficult to implement because we have less control over the environment in which the process is running.

    I have applied for membership to FDX and we'll see how that goes. We have never been a member of the OFX consortium as it was basically run by Intuit, Microsoft, and (earlier) CheckFree and the specification was always public, but I have followed it closely since about 2000-2001.


    Sean Reilly
    Developer, The Infinite Kind

  8. System closed this discussion on 20 Oct, 2020 09:00 AM.

  9. alfyj72 re-opened this discussion on 05 Apr, 2021 06:32 PM

  10. 8 Posted by alfyj72 on 05 Apr, 2021 06:32 PM

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    Thanks for your knowledgeable responses. I appreciate the security concerns and admire your stand on not storing user credentials.

    You could you do more to automate webconnect so the user only has to provide credentials in the web browser, and then Moneydance automatically selects transaction download action, and specifies the date range, download directory etc. You might even allow the user to record a download macro a la Excel/LibreOffice Calc. You could have pre-recorded scripts for the largest bank web sites. Also, it would be very helpful to dup-check downloaded transactions and automatically avoid duplicate transactions in the register. You could then allow the user to manually accept or merge duplicates.

    Thanks for your good work. I think MoneyDance is a good alternative to Quicken, especially since they have adopted the subscription model which significantly increased their usage cost.

    Alfy Johnson

  11. System closed this discussion on 05 Jul, 2021 06:40 PM.

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