A personal update on the situation with TD Bank

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25 Dec, 2018 06:16 PM

Hi tech staff,

I don’t know if you’ve read my private message called “Goodbye Moneydance”. If not, then please read the message. It details why I’m switching to a different personal finance application. That said, this post is for the benefit of everyone who is going to continue using Moneydance with the hope the aforementioned issues including the one with TD Bank are finally resolved. Here is my update on the situation:

I contacted TD Bank about downloading transactions with Moneydance and was told it wasn’t supported. I knew this prior to speaking with them. I said I was switching to Quicken and wanted to know how to configure it to download transactions. They informed me I needed to use a supported version of Quicken to create a "profile" in their system. Once I did that, I could use Quicken to download transactions. Since Quicken 2017 is supported by TD Bank (and doesn’t require a subscription), I purchased a copy and used it for this task. Downloading transactions worked perfectly.

Since I’m in the process of switching from Moneydance to Quicken 2017, I felt I should move to the newest revision of Moneydance 2017 and make sure all of my accounts are up-to-date and reconciled. As a part of this process, I updated to Moneydance 2017 for the Mac "v2017.10 (1706)". Since I was in the midst of downloading transactions for all of my financial accounts, just for giggles, decided to try downloading transactions from TD Bank.

Previously, when attempting to download transactions from TD Bank, I'd receive the error we have all come to know all too well. To my surprise, this time, Moneydance appeared to connect without difficulty to TD Bank. It didn’t download any transactions. I know there are new transactions to download. Although transactions weren't downloaded, the fact that Moneydance connected is significant.

I don’t know if the apparently successful connection was because I created the “Quicken profile”, because something changed on TD Bank’s end or because of the newer version of Moneydance 2017. Something has definitely changed for what appears to be the better.

I'm bringing this to the attention of IK because it may provide them another path to follow in their efforts to finally squash the problem with TD Bank.

Happy holidays,


  1. 1 Posted by dwg on 25 Dec, 2018 08:07 PM

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    I'm a fellow user.

    Even though Direct connect is an open standard I think it is possible that TD bank is using the extended data that Quicken specifies to effectively stop any other application being used, they could even be validating that data against the Quicken server as I believe is done with Web connect, to ensure your are a Quicken customer.

    If they are doing that they are saying to use application banking with us you must use Quicken, at the same time I do not see a way of validating that this is what they are doing, if the servers just fail to respond to Moneydance OFX requests I do not think there is a way through that. Any suggestion that this type of thing is done for "security" reasons I would also find highly suspect.

  2. 2 Posted by zrob on 25 Dec, 2018 11:08 PM

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    Can you break apart your post? It's difficult to understand what you're trying to say. The only part I really got was your last sentence.

    In a previous conversation from back in August, TD Bank said currently supported versions of Quicken will work. I don't find this suspect at all. I wouldn't recommend directly accessing financial data at an institution with an old, unsupported, less secure application from any publisher be it a personal finance app, web browser, etc.

    I like TD Bank and they've done right by me for nearly a decade. I cannot say the same for Infinite Kind when it comes to Moneydance. I would choose TD Bank over Infinite Kind and Moneydance without hesitation, which is why I'm switching to a different personal finance application.

    FWIW, Igg Software seems to have found a way to allow Banktivity to download transactions from TD Bank. <https://www.iggsoftware.com/support/articles/ibank-5/td-bank-has-suspended-ofx-direct-connect/>

    Although I had planned to move to Quicken 2017, Banktivity is now under consideration.


  3. 3 Posted by dwg on 25 Dec, 2018 11:45 PM

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    The OFX specification has the ability for vendors to make vendor specific extensions, what I'm wondering is if TD bank are using the Quicken specific extensions to effectively lock others out, or at least attempt to, but under the guise of it being a security enhancement, i.e. not only do you have to use your bank Username/password but we validate that you are a registered (Quicken) User, but I do not see a way to test this as it would need access to the server to see what it is doing. It's a hypothesis but given the way the server seems to be responding or not responding to Moneydance at times makes me wonder.

    I moved to Moneydance from Reckon because of the Attitude, policies and actions of Reckon

  4. 4 Posted by zrob on 26 Dec, 2018 12:26 AM

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    Thank you for your initial response and your clarification. TD Bank specifically said you needed to have a Quicken created profile from a currently supported version of Quicken in their system, otherwise you couldn't use the download features. They have a listed of supported versions.

    I suspect that is part of the problem. No profile, no downloading of transactions. I've had the necessary profile at TD Bank for a couple of months. Prior to moving to the latest flavor of Moneydance 2017, attempts to download transactions always produced an error. That is no longer the case with the newest version of Moneydance.

    IK modified/fixed issues with OFX. Maybe in doing this, they made progress towards resolving the issue with TD Bank, which is why I posted about it even though I'm moving away from Moneydance.


  5. 5 Posted by dwg on 26 Dec, 2018 12:47 AM

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    It all just provides more justification for TIK to continue to work on a system that can use the Bank's Internet Banking sites for downloads.

  6. 6 Posted by zrob on 26 Dec, 2018 01:09 AM

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    You mentioned you moved from Reckon to Moneydance "because of the Attitude, policies and actions of Reckon". These are the same reasons I'm moving from Moneydance to a different application. I'll gladly provide you a list fo the issue but not in this thread. This is focused on the online banking issues with Moneydance, which is just one of the problems. I don't want to muddle this post with the other issues.


  7. Support Staff 7 Posted by Sean Reilly on 08 Jan, 2019 04:20 PM

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    Hi Rob,
    Thank you for looking into this in such detail and I am very sorry that we were so bad at acknowledging and responding to your messages, especially about this issue. I completely understand the need to use personal finance software with responsive customer support.

    I'll add the information you gathered to a KB article about connecting to TD Bank so that it might help others.

    All the best,

  8. System closed this discussion on 09 Apr, 2019 04:30 PM.

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