Moneydance+ & Investment accounts

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dfsutherland

31 Oct, 2021 08:34 PM

I've been linking accounts via Moneydance+, with very mixed success. Most accounts link up successfully (as in "appear in the Moneydance+ window"). Downloading transactions from bank accounts and credit cards appears to work fine, including on sites where I used to be unable to make online banking work. However...

I don't seem to be able to download any transactions for investment accounts. Is this an expected limitation? It seems odd that I'd have the same "Downloaded zero new transactions" behavior for investment accounts at Schwab and Fidelity and ETrade and TIAA. If investment accounts aren't expected to work yet, that'd explain everything. It'd also remove my primary reason for evaluating the Moneydance+ service.

So: Should I expect investment accounts to work via Moneydance+? If so, I'll open a support ticket. If not, can you tell us whether support for investment accounts is planned, and when to expect it?

  1. 1 Posted by Stuart Beesley ... on 31 Oct, 2021 08:46 PM

    Stuart Beesley (Mr Toolbox)'s Avatar

    Investment accounts have not yet been enabled in md+

  2. 2 Posted by dfsutherland on 31 Oct, 2021 09:02 PM

    dfsutherland's Avatar

    Thanks Stuart.

    Suggestion for the Moneydance/IK folks: What's available and what isn't should have been very clearly stated in the md+ writeup. Something like

    AVAILABLE NOW:

    • Bank Accounts

    • Credit Cards

    COMING SOON:

    • Investment accounts

    • whatever else I didn't think of...

    Some clue regarding anticipated schedule for upcoming features is always nice. That said, as a software professional myself I fully recognize that such statements may be aspirational rather than commitments.

  3. 3 Posted by dfsutherland on 31 Oct, 2021 09:07 PM

    dfsutherland's Avatar

    Now that I know my investment accounts won't work via MD+, how can I put them back into OFX mode? Unlinking them in md+ appears to be straightforward. But when I restart the "setup online banking" process, I no longer see any option for the old-school connection. Sigh.

  4. 4 Posted by dtd on 31 Oct, 2021 09:50 PM

    dtd's Avatar

    just a user - one reason I'm still using 2021(3069) for my live data is lack of implementation of investment accounts in MD+ at this time. (I want Schwab back).

    I'm testing the new 2022.2, but only on a copy of my live data. Since I knew investment accounts don't work yet, I haven't gone down the rabbit hole you have, so I haven't got an answer for you (also yet). Hopefully someone will chime in to answer your question, else I'll have to try it myself (and luckily I can just chuck it when I'm done).

    As for
    If not, can you tell us whether support for investment accounts is planned, and when to expect it?

    the answer is that support for investment accounts is planned, and I don't know that MD knows when it will be provided, as they are working with Plaid to make it happen, so it is somewhat out of their control.

    Me? I want it yesterday, but that didn't happen.

  5. 5 Posted by dtd on 31 Oct, 2021 09:54 PM

    dtd's Avatar

    Oh, regardless, make sure you are now using 2022.2(4060), as Stuart and I found a bad OFX bug in 4058, that in 4060 is resolved.

    What you are describing is not the bug, but if you find a way to move forward, you don't want the 4058 bug to be next.

  6. 6 Posted by dwg on 31 Oct, 2021 09:59 PM

    dwg's Avatar

    With the account open if you start online banking setup I expect to see a screen asking if you want Moneydance+ or OFX service

  7. 7 Posted by dfsutherland on 31 Oct, 2021 10:56 PM

    dfsutherland's Avatar

    Thanks all for the helpful observations.

    I used the Toolbox extension (View your installed bank / service profiles) to see that my various investment accounts still showed as being md+ even after unlinking them with md+. Sure enough, trying to set up online banking just dumped me straight back into the md+ window.
    So, with the toolbox extension in ADVANCED mode, I ran "Cleanup missing online banking links." That got rid of the lingering mapping between those investment accounts and md+.

    It turns out to be a good thing that I didn't move all my Schwab accounts to md+. With md+ connection gone, I was able to choose "Online -> Match online accounts" and reconnect the various Schwab accounts with the OFX connection. Sadly, that doesn't get me back to being able to download successfully.

    Per what dwg wrote above, when I choose "set up online banking" for one of the Schwab accounts in question, I see the usual OFX setup windows. Great! But the only available option for Charles Schwab in the downloaded list is "Schwab Retirement Services" which certainly isn't the correct choice.

    I guess I get to poke around some more.

  8. 8 Posted by dwg on 31 Oct, 2021 11:02 PM

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    Schwab are one of the institutions that have removed the ability for Moneydance to use OFX (Direct Connect) to download transactions directly from them, in other words they have blocked Moneydance connecting.

    Going forward Moneydance+ will be the only way to interact with Schwab (once investment accounts have been enabled).

  9. 9 Posted by dtd on 31 Oct, 2021 11:30 PM

    dtd's Avatar

    At the moment, Schwab doesn't work in MD at all - either OFX or MD+

    Schwab killed it on Oct 1.

    As I said, I want Schwab back, and that will only (eventually) happen in MD+, and I don't think anyone knows exactly when that will happen.

    It appears that MD+ already works with Schwab bank - but not with investments.

  10. 10 Posted by kad on 19 Jan, 2022 05:58 PM

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    It's 2022 now. Has there been any movement on the MD+ and investments issue?

  11. 11 Posted by dfsutherland on 19 Jan, 2022 06:25 PM

    dfsutherland's Avatar

    If anything has changed, I haven't heard about it.

  12. 12 Posted by dwg on 19 Jan, 2022 08:04 PM

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    I'm a fellow user.

    The last update I have seen from Sean is that Plaid have approved Investment account downloads to Moneydance.

    From a Plaid perspective this is a separate product and the API and billing are separate. There is programming required on the Moneydance side to make it work and that is what is being progressed at the moment.

  13. 13 Posted by andyschmid on 31 Jan, 2022 05:51 PM

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    An update/roadmap from Moneydance staff on MD+ investment support would be appreciated. I too think its a bit disingenuous this limitation was not disclosed upfront.

  14. 14 Posted by dwg on 31 Jan, 2022 07:56 PM

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    The release notice in the blog did state that the initial release did not work with Investment accounts

    https://infinitekind.com/blog/moneydance-2022

    "Moneydance+. Now with a single click, you can seamlessly download all of your transactions from tens of thousands of banks and credit card accounts. It even works with PayPal and Wise.com! Moneydance+ accesses an order of magnitude more banks than Moneydance has ever supported, and we’re excited to roll it out initially for US and Canadian bank and credit card accounts, with EU, UK and investment support soon to follow."

  15. 15 Posted by andyschmid on 31 Jan, 2022 09:41 PM

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    Thanks for pointing that out, I overlooked the blog entry..I stand corrected!

  16. 16 Posted by Mark J on 03 Feb, 2022 01:52 PM

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    Is there any estimate of when investment accounts might work? I am able to link with my Ameriprise Financial accounts, but the only transactions downloaded are "banking" ones (fees, interest, cash transfers, etc). Securities trades and dividends are not.

  17. System closed this discussion on 05 May, 2022 02:00 PM.

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