Citizens Bank

chris.snyder's Avatar

chris.snyder

21 Oct, 2009 06:25 PM

I attempted to get and ID and PIN number from Citizens Bank. They stat that they only support Quicken and specifically stated that their software will not work with MoneyDance and refused to give me an ID and PIN. The rep from the bank was very abrupt but stated that the protocol they use is QFX. Is there any chance of getting Citizens Bank (Pennsylvania) to cooperate?

  1. 1 Posted by Keith on 21 Oct, 2009 06:49 PM

    Keith's Avatar

    i have banking accounts at citizens bank pa, and moneydance DOES work, once you have successfully connected. Since they required a pswd change the first time you connect via ofx (and this didn't work for me in moneydance), i was able to establish the initial connection and change my pswd using ms money (from which i'm fleeing).

    They make it quite difficult:

    1. unless you have a 'circle' account, it'll cost you (iirc, 8.95/mo for direct download, another 3.95/mo for bill pay, and with additional lead time for bill pay)

    2. call the online support number (sorry, i don't have it handy), and claim you're using money or quicken. For the pswd change, i needed ms money.

    3. they'll try to talk you out of it, citing the cost and additional lead time for bill pay

    4. they'll issue you a userid and temporary password strictly for ofx connectivity

    5. The first time you login, you'll need to change your pswd. Again, i couldn't get moneydance to do this, so i used ms money.

    6. now that you have an established userid/pswd for ofx, set up the connection in moneydance via the usual means. (it think it was Citizens Bank - Mid Atl)

    More caveats:

    • ofx payees are separate from web banking payees (had to set them up twice, silly me)

    • web banking reflects info in real time, while the ofx connection is a day (or more) behind

    • billpay lead time is 5 days, minimum, while web banking can be next day (for payees that accept electronic transfers) or 3-5 days for a mailed check.

    It's a pain, and they seem to be actively discouraging direct ofx, but if it's something you really want, it can be done.

    hth...

  2. 2 Posted by chris.snyder on 21 Oct, 2009 08:29 PM

    chris.snyder's Avatar

    Thanks for your rapid response. I will have to give it a try when I have some time to play. I do have a circle account, so it might be worth it. It's a shame they make it so difficult. I do have an old version of quicken, so hopefully I can use that if I can't get MD to change to password.

  3. 3 Posted by Angie Rauscher on 28 Oct, 2009 12:12 AM

    Angie Rauscher's Avatar

    Chris,

    I am sorry to hear you are having this problem with your bank. If you have your financial institution set up your account as if you were using Quicken 2008 for Windows then it should also work with Moneydance since they use the same protocol. This is sometimes necessary as many banks don't yet recognize Moneydance or know how to deal with it. Keep in mind that application-based online banking often requires a different login/PIN than the ones that are used for ATM or web-based banking. When you enable your account for access from Moneydance or Quicken, your financial institution should let you know what customer ID/login and PIN to use.

    Basically, Keith seems to have great and specific advice, I wish you the best of luck! Please let me know if I can be of further assistance, and thank you for your interest in Moneydance.

    Angie Rauscher
    Moneydance Support

  4. Angie Rauscher closed this discussion on 28 Oct, 2009 12:12 AM.

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