Bank of America connection
Just over the past 3 days, Moneydance has not connected to Bank of America. I've filed a ticket yesterday with BofA but still this morning no change. I can still connect to other institutions. Error reads "java.net.ConnectException: Connection refused. I believe this would be an issue on the bank's end since nothing has changed on my end. But checking here for any advice.
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Support Staff 1 Posted by Maddy on 02 Nov, 2022 03:04 PM
Hi Charles,
We are sorry to hear about the problem you have encountered.
Unfortunately, Bank of America have discontinued their use of OFX Direct Connect, which is required to download your transactions automatically into Moneydance for free. They've also stopped supporting 3rd-party bill pay. It would appear Bank of America hasn't informed their customers of this change, as we've received many support requests from other BoA customers in the last few days.
Without Direct Connect, you are still able to easily import your data into the program for free. You can use a web browser to download files from your bank's website. We recommend you download using the OFX, QFX or QIF file format, which you can import into Moneydance using File > Import. The steps for manually importing your data are outlined in this article.
Alternatively, if you're using Moneydance 2022, you can subscribe to Moneydance+. This is the new (optional) subscription service that allows you to download transactions from your banks using the Plaid aggregator. You can read more about Moneydance+ in this blog post. There is a 14-day free trial so you can fully test downloading from Bank of America before you're charged. If you have a Moneydance 2022 license key, the cost to use Moneydance+ is then $2/monthly. The steps for setting up this service are outlined here.
I hope this information is helpful. Please let us know if you have further questions or need more assistance.
--
Maddy, Infinite Kind Support
2 Posted by Charles Withey on 02 Nov, 2022 11:44 PM
Maddy,
Thanks for the information. Since they’ve stopped 3rd party bill pay, does it mean that even with Moneydance+ subscription, I still won’t be able to pay bills via Moneydance+?
Charles
3 Posted by dwg on 03 Nov, 2022 12:32 AM
That is correct.
At this time Moneydance has no alternative for Bill Pay when a bank discontinues the Direct Connect service.
The bank's position is generally to use their Internet Banking site to pay bills.
Support Staff 4 Posted by Maddy on 03 Nov, 2022 11:01 AM
Unfortunately Moneydance + doesn't support Online Bill Pay at the moment as outlined here.
That being said please stay reassured that the development team are currently working to find a suitable replacement to allow our customers to use a similar service in the future.
We have created a ticket in our system for this issue and I have attached it to this discussion now. By posting in this discussion your interest in the ticket has been registered. This is equivalent to voting for it. We will post on this thread as soon as there are further developments on this topic.
I hope this information is helpful. Please let us know if you have further questions or need more assistance.
--
Maddy, Infinite Kind Support
5 Posted by BGoldman on 05 Nov, 2022 01:06 AM
Online Bill Pay would be great to work out. I too have found out BofA is no longer doing direct connect.
Ironically, EVERY time I log on to my account a popup requests my permission to access BofA via Quicken!
6 Posted by Lori L on 06 Nov, 2022 02:25 PM
It is terrible that the big banks can do this without advance notice to their customers. I've used MD Bill Pay for years. Please Please Please give us Bill Pay functionality ASAP!!
7 Posted by Charles Withey on 08 Nov, 2022 06:13 PM
This comment was split into a new private discussion: MD + subscription using the Mac App Store version - no receiving email confirmation
System closed this discussion on 07 Feb, 2023 06:20 PM.