Unable to download transactions from Charles Schwab

Jeffrey Morrison's Avatar

Jeffrey Morrison

25 Oct, 2020 09:18 PM

I am running Moneydance 2019, and up until recently I have been able to download all of my banking and brokerage transactions from Charles Schwab and from Charles Schwab Bank. I did recently update my password at Charles Schwab, but have set up Moneydance so I type my password everytime, so not thinking that is the issue. I have tried uninstalling Moneydance and reinstalling, and restoring a back up copy, but it still will not downloand the transactions into my register. Moneydance walks me through the transaction download process but it just does not download the transactions. Was unable to find anything in your online resources that was helpful, unless I just looked in the wrong place. Any assistance would be deeply appreciated. If I am unable to rectify, I will need to return to Quciken, but would rather not. Thanks for any help you may be able to provide.


  1. 1 Posted by dtd on 25 Oct, 2020 09:32 PM

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    This was a decision made by Charles Schwab , on October 16 I think, without consulting their clients (Schwab appears to have contacted aggregators over the last few months, but they did not contact any clients)

    Many of us are complaining to Schwab, and Sean (Moneydance developer) is trying to get involved with a possible resolution.

    Just a user

    PS - Changing anything in Moneydance right now won't affect anything, as Schwab has shut down what has worked for years.

  2. 2 Posted by Jeffrey Morriso... on 26 Oct, 2020 01:33 AM

    Jeffrey Morrison's Avatar

    Charles Schwab said...
    Matt S
    Agent Matt S said
    Thank you for your patience. According to my resources, the technology department has made a decision to restrict the ability to export transaction data. As of market close on October 16, 2020, Schwab will restrict access to its legacy OFX (ofx.schwab.com) for all third parties except for Quicken (personal finance management), TurboTax,and H&R Block (for tax preparation). According to the statement, this step is being taken to secure clients' data. I apologize for the inconvenience. The notes stat that this policy may be amended as time goes on.

    So the only choice I have now is Quicken, or do it by hand? Seriously Schwab? Seems a bit like thuggish monopolistic behavior. Filed a formal complaint.

    I left Quicken because I had sevre technical issues with their software which none of their techs could solve, and Microsoft Money closed up shop.. .Sadly Moneydance, if you can't change Schwab's tune, Moneydance is regretfully dead to me.

  3. 3 Posted by derekkent23 on 26 Oct, 2020 08:22 AM

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    I am not support staff, just a user.
    Hi Jeffrey

    Some posts on the subject in different discussions from Moneydance’s software developer you may find interesting.



    Hope this helps.

  4. 4 Posted by Christian S. on 26 Oct, 2020 07:30 PM

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    Schwab told me that Moneydance/Infinite Kind need to contact Schwab and get verified as a legitimate software app. Basically its an issue between Infinite Kind and Schwab.

  5. 5 Posted by dtd on 26 Oct, 2020 10:47 PM

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    I'm still waiting for my 3rd level I/T support call from Schwab, if I get it.

    To me, basically the issue is that Schwab has been planning this change for months, but without contacting a single client, and only contacting major software vendors (including some aggregators).

    And, no provision for an interim solution (i.e. you can only download CSV files, not OFX, manually).

    For me, the issue is making a major decision change for a system that has existed for 10-20 years with no warning, no contact to users, and no contact to many (smaller) software providers.

    I put this all on Schwab. I've been a Schwab customer for over 30 years.

    For them to say, "hey, your software vendor needs to contact us" is almost as insulting as saying "hey, why didn't you know this was going to happen?"

  6. 6 Posted by Christian Skiel... on 29 Oct, 2020 12:28 AM

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    I used som of my contacts at Schwab to raise attention to this issue. Here is what Schwab says Infinite kind need to do:

    Schwab has restricted access to its legacy OFX for all 3rd parties except for: Quicken, Turbo Tax and H&R Block. This step is being taken to secure our client's data. Third parties who have historically used OFX to aggregate Schwab client data are encouraged to register for access to the Retail Account Aggregation API at developer.schwab.com <http://developer.schwab.com/>. This website is not intended for clients, but for third parties who provide software solutions to retail clients.
    Hope this is helpful and can expedite a solution.


    Christian S

  7. Support Staff 7 Posted by Maddy on 29 Oct, 2020 12:54 PM

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    Hi all,

    Please find the latest update below:

    Our connection specialist have now access to the FDX protocol specification and he is working towards implementing it. We still need our application to Schwab's developer program to be accepted which should be happening soon.

    We will keep you posted on any improvements timely.

    Thank you for your patience and sorry for the inconvenience.

    Maddy, Infinite Kind Support

  8. 8 Posted by bschottmi on 29 Oct, 2020 01:14 PM

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    I'm glad to hear you are working on this. I did a search but did not see this thread initially so I opened a new one. I'll go and close it.
    Will this require an update to a new version of MD?

  9. 9 Posted by bschottmi on 29 Oct, 2020 01:16 PM

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    Note: Schwab Tech Support says they notified developers about this starting last January, but apparently, MD/Infinite Kind did not make their list.

  10. 10 Posted by glbechtel on 29 Oct, 2020 02:40 PM

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    I'm also glad to hear you're working on it. Many thanks. I'll be looking forward to having download work once again with Schwab.

  11. 11 Posted by rtater on 29 Oct, 2020 11:41 PM

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    Also very happy to hear you're making progress on this. I had just upgraded to the 2020 version and thought the issue was related to that until I found this thread. Your efforts on fixing the download capability, even if MD had nothing to do with it breaking, is very much appreciated and why I keep relying on MD.

  12. 12 Posted by Christian Skiel... on 03 Nov, 2020 08:18 PM

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    Hello Infinite Kind,
    What's the progressive's on this? When can we expect to have this issue resolved?
    Have you tried to establish contact to Schwab via the developer link below?

    Christian S.

  13. 13 Posted by Christian Skiel... on 03 Nov, 2020 08:22 PM

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    Sorry, I meant what's the on this - not progressive.

  14. 14 Posted by Christian Skiel... on 03 Nov, 2020 08:26 PM

    Christian Skieller's Avatar

    Sorry,I meant What's the progress on this, not progressive

  15. 15 Posted by derekkent23 on 03 Nov, 2020 09:05 PM

    derekkent23's Avatar

    I am not support staff, just a user.
    Hi Christian

    Take a look at this discussion starting at this post https://infinitekind.tenderapp.com/discussions/problems/63978-money...

    Hope this helps

  16. 16 Posted by Christian S. on 12 Nov, 2020 07:50 PM

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    It would be nice if we could get some kind of progress report from InfiniteKind. This has taken way to long to resolve!

  17. 17 Posted by chris_hardin on 14 Nov, 2020 10:04 PM

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    Just another user noting the same issue. Looks like MD/Infinite Kind is working towards resolution. I'm hoping that by adding to this thread, I get notified when something happens. Thanks.

  18. Support Staff 18 Posted by Maddy on 16 Nov, 2020 11:59 AM

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    Hi all,

    We are sorry to hear about the problem you have encountered.

    Please be reassured that we're currently working to get this resolved.

    Please refer to posts 52 and 75 of this thread where Sean (our head developed) provided a detailed explanation of the action that has been taken from our end, so far.

    I'll update you as soon as we have more information.

    Thank you for your patience and sorry for the inconvenience.

    Maddy, Infinite Kind Support

  19. Support Staff 19 Posted by Maddy on 04 Dec, 2020 11:53 AM

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    Hi all,

    Upgrading to the latest free preview version should fix the connection problem with Schwab.

    Moneydance 2021 (2010) is now available to download from this page.

    For a full list of improvements in the preview version, please refer to this page.

    Specifically, the (end-to-end encrypted) tunneling for OFX exchanges with certain banks (like Schwab) has been enabled within this version.

    Please let us know if you have further questions or need more assistance.

    Maddy, Infinite Kind Support

  20. 20 Posted by Richard Tater on 04 Dec, 2020 06:28 PM

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    Thank you!

  21. Melissa closed this discussion on 04 Dec, 2020 06:34 PM.

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