Evaluating Moneydance / Unable to connect to BB&T

Gerald Oefelein's Avatar

Gerald Oefelein

12 Dec, 2018 08:23 PM

I am migrating from Quicken to (hopefully) Moneydance. I have imported my Quicken file without issue, but when I attempt to download data from BB&T I get the following message. When I called BB&T they said they only support Quicken. I use Quicken regularly without problems so my username and password are correct.
There was an error communicating with your financial institution. The details of this error are below.

Bank Name: BB&T - Online Banking

The error code reported by the server was: 2000

Must complete registration process. Please call the BB&T Care Center at 888-228-6654.

  1. 1 Posted by dwg on 12 Dec, 2018 08:34 PM

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    I'm a fellow user.

    You bank is on the supported list - which means they support Direct Connect:


    Error 2000 is a very generic error, it can often mean that your accounts are not set up for Direct Connect Access, Quicken offers another method they developed called Web Connect which uses the Bank's Internet banking site, Direct Connect uses a completely separate system and often requires the bank to grant access to the system.

    For more information see the knowledge base article:


  2. 2 Posted by william on 15 Jan, 2019 02:11 AM

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    BB&T charges a fee for direct connect. Web connect is free but Moneydance doesn't support it. I'm having the same issue.

  3. 3 Posted by dwg on 15 Jan, 2019 02:18 AM

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    Web Connect is a proprietary Quicken system that is not freely available to other vendors, nothing that Moneydance can do about that.

  4. 4 Posted by william on 15 Jan, 2019 02:21 AM

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    That's what I said, it is relevant for a user coming from Quicken like myself and the user asking the question who was used to web connect. Nothing Moneydance can do about the face BB&T charges for direct connect either, I'm just stating the facts as they are for a BB&T banking client and a Moneydance user. I would still rather use Moneydance.

  5. 5 Posted by william on 15 Jan, 2019 02:23 AM

    william's Avatar

    Gerald you'll have to call BB&T and have them setup direct connect. I believe it's a separate username/pw but I am not sure since I just opted to do the double entry. I am very happy with Moneydance over Quicken btw...

  6. 6 Posted by -Kevin N. on 15 Jan, 2019 02:40 AM

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    Hi Gerald,

    It would be negligent not to mention that Moneydance can manually import OFX, OFC, QFX and QIF file formats into most all account types.

    It can also manually import formatted CSV and TXT file formats into Bank and Credit Card accounts.

    Most banks allow for at least one of the above-mentioned file formats for manual download.

    -Kevin N. (not a member of MD support)

  7. 7 Posted by dwg on 15 Jan, 2019 02:44 AM

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    The moneydance folks have started development of an alternative system to Direct Connect and Web Connect. Direct Connect is generally confined to a subset of U.S. based institutions and Web Connect to the North American market, so has limited usage for a product sold world wide like Moneydance is. MD 2019 has the first building blocks for the solution, but a full implementation is still some way off. The embedded browser is the first part of the solution

  8. 8 Posted by william on 15 Jan, 2019 03:04 AM

    william's Avatar

    Just curious and slightly off the main topic but related to your reply, why doesn't MD use a microservice such as Yodlee? Their integration is impressive and would be mostly plug and play. My bank uses it, Personal Capital uses it, as do many others. It would simplify development for sure.

  9. 9 Posted by dwg on 15 Jan, 2019 03:14 AM

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    It also involves you giving your banking usernames & passwords to a third party.

    Many regard doing that as a security issue. The Moneydance developer takes security very seriously and does not want things like usernames/passwords on any device but your own and even then protected by encryption.

  10. 10 Posted by william on 15 Jan, 2019 03:29 AM

    william's Avatar

    That's not 100% accurate since it is an API and login information is not stored on the service, but regardless I appreciate the precaution. However, the benefits of Yodlee surpass any concerns since they not only have connections with banks but with utilities and more. Data from these sources could be aggregated into MD as well, which would increase the value of the product tremendously. I don't pretend to understand InfinteKind's development plan, but from a consumer point of view I would have paid double for the product had I known there was a reliable path to integration seamless integration of my accounts.

  11. 11 Posted by rsmerrin on 15 Jan, 2019 05:12 AM

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    From post 8 & 9. Here is a another point you missed. I know that their are banks that have wording in their banking agreements in which handing over any of your banking information to a third party is a violation of the banking agreement. This type of violation of the banking agreement releases then from any responsibility should their be a theft from your bank account,

  12. 12 Posted by william on 15 Jan, 2019 05:53 AM

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    Not the case here, the service is an API and Yodlee already has agreements with the banks who participate in their API. With an API, the data would be channeled from the bank to MD.

    Moreover, MD already has integrations with (Dropbox) third party services to hold my data.

    Comparatively, in the case of Yodlee the service is likely more secure than the above mentioned integration already in use (they have bank level security in place, I'm sure a requirement the banks who support them required).

  13. System closed this discussion on 16 Apr, 2019 06:00 AM.

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