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Account Setup

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Jeff Parker

Oct 15, 2016 @ 10:03 PM

I have accounts with Fidelity and Schwab.

With both companies I have both individual accounts and IRA/401K-type accounts.

I do not have separate login credentials for each account, just one set of credentials for each firm. I log into their websites and then, once in, I can reach the accounts.

I've reviewed the user guide and forums but have not found definitive guidance on how to set these in MD. It appears to be tricky for many. I don't want to start down a blind alley so how do I start this so I can finish successfully.

Thanks

1. Support Staff 1 Posted by Jenny on Oct 16, 2016 @ 01:26 PM

   

   Hi Jeff,

   Moneydance supports automatic connections via Direct Connect and you can view a list of financial institutions that support this feature here - http://infinitekind.com/fi
   If your bank is on the list, this means they support Direct Connect. You can setup online banking with these banks within Online --> Set Up Online Banking. Then select 'New Connection' and choose your financial institution from the list.

   Have you enabled these accounts for Direct Connect access? Many financial institutions will require you to enable your accounts for application-based online banking. You can accomplish this by asking your bank to set up your account for direct connections from Quicken. Moneydance uses exactly the same OFX server connection protocol as Quicken but your bank representative may not know this and mistakenly believe that you can not connect in Moneydance. Calling up your bank and stating precisely the following should get you started. "Please enable direct connect on my account such that I can connect to your servers directly with Quicken. Also give me the login credentials I need to connect Quicken to this service."

   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.

   If your bank is not listed, then unfortunately they do not not support direct OFX connections, which Moneydance (and other financial software) requires in order to talk directly to a bank.
   The best way to get your files into Moneydance is to use a web browser to download them from your bank's web site. You can download into QFX, OFX or OFC files (aka Quicken or MS Money files), any of which will import cleanly into Moneydance. If your banks only supports manual download in CSV format, then you can download the 'Text File Importer' from within Moneydance, which will allow you to import your data.

   Please let me know if I can be of further assistance.

   Jenny
   Infinite Kind Support

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2. System closed this discussion on Jan 15, 2017 @ 01:30 PM.