Bank of America

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mark

04 Nov, 2015 03:58 PM

It looks like Moneydance doesn't support online banking or bill paying with Bank of America. Is that correct?

I noticed that there have been several discussions about this in years past, but the lack of any current dialog on the topic leads me to believe this is not something that's going to occur anytime soon, if ever.

I'm asking because I'm evaluating moving over to Moneydance from Quicken, and being able to integrate, somehow, my accounts at Bank of America with my personal finance software is a key requirement.

- Mark

  1. 1 Posted by David Hanley on 04 Nov, 2015 04:36 PM

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    Hi Mark,

    This is a recent change. Unfortunately, Bank of America is discontinuing support for direct OFX connections, which Moneydance (and other financial software) requires in order to talk directly to a bank.  Bank of America also charged $9.95/month for each account that you chose to enable direct connect access to. The best way to get your transactions into Moneydance is to use a web browser to download them from your bank's web site.  You can download into QFX, QIF, OFX or OFC files (sometimes referred to as Quicken or MS Money files), any of which will import cleanly into Moneydance.   You can also open your bank's download page directly (after entering the appropriate address in the Account->Edit Account menu) by going to the menu bar and selecting Online->Open Account Website.

    If your bank begins to support direct OFX connections in the future, we will be happy to work with them.

    Please let me know if I can be of further assistance, and thank you for your interest in Moneydance.

    David Hanley
    Infinite Kind Support

  2. 2 Posted by mark on 04 Nov, 2015 04:53 PM

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    Thanx for the quick reply. Out of curiosity, does that mean Quicken will no longer be able to do online bill paying either?

    - Mark

  3. 3 Posted by David Hanley on 04 Nov, 2015 05:01 PM

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    It's likely that Quicken will retain billpay, they also use another protocol with BoA called web connect. There are two methods that personal finance software can use to access your accounts: direct connect and web connect. With web connect, the software basically connects to your bank's website and downloads and imports OFX, QFX, QIF, and OFC files automatically. Direct connect actually connects to a server at your bank instead of their website and usually requires different login credentials than you would use to log into your banks website. From a user's perspective, these two connections look basically identical. Moneydance only supports automatic connections through direct connect and not web connect.

    We are working on an alternative to web connect, but I unfortunately cannot give a timeline to completion.

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

    David Hanley
    Infinite Kind Support

  4. 4 Posted by mark on 04 Nov, 2015 05:10 PM

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    Thanx, that’s very helpful.

  5. 5 Posted by Scott Meehan on 04 Nov, 2015 09:43 PM

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    Hi Mark,

    We're happy to help! Please let us know if we can be of further assistance!

    Scott Meehan
    Infinite Kind Support

  6. Scott Meehan closed this discussion on 04 Nov, 2015 09:43 PM.

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