Exceeding bank's monthly download quota
My bank allows 15 transaction downloads per month after which a
charge of $.75 is made for each download. In a 30 day period I was
charged $107 for going over the allowed quota, which translates to
nearly 185 downloads. No way, no how did I do that.
I did have background downloading turned on in Moneydance and turned that off after three weeks of having it turned on. However, even so, I still generated $43 in excessive charges after that point and I know that I did not initiate that many downloads since I was now aware of the limits and did not want to occur additional charges.
Today I called my bank and discovered that on May 1st, they showed 11 "download transaction sessions", which means I now only have 4 left before reaching my limit for this month! Something is wrong. So while I had the bank support person on the line, I initiated another "Download all accounts" session and she reported that it showed up as one transaction.
What could possibly be running up the banks record of downloads if I'm positive I have not done that and automatic downloading is not turned on?
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1 Posted by terry on 03 May, 2010 04:56 PM
For clarity, I have seven accounts and after downloading transactions for all accounts, my bank reported seeing just 1 connection.
2 Posted by Ben Spencer on 03 May, 2010 07:57 PM
I am sorry that this has happened to you. I am shocked (appalled even) that your bank would charge you for each additional download. A service that costs them practically nothing to provide. I hope you were able to get them to give you a refund.
Moneydance definitely makes an independent connection for each account it downloads. If you have 7 accounts with one bank and download all accounts that is 7 separate connections. I have checked in with the senior developer on this and he is certain. The banks representative you were speaking with must be mistaken. If you have background downloading turned off Moneydance will only make a connection to your bank when you tell it to. Unless you are willing to pay these astonishing fees you will only be able to download from your bank a couple of times a month. The other alternative would be to manually download and import OFX files form your banks website.
Sincerely
Ben Spencer
Moneydance Support
3 Posted by terry on 03 May, 2010 08:14 PM
Thanks for the reply. If you'll recall, this morning I performed a "Download All Accounts" action in Moneydance, then left the program open for hours to see if the bank would record any other activity.
The bank confirmed just now that that one session in which I downloaded all accounts was the only session today. Apparently even though Moneydance makes seven separate connections for seven accounts, the bank counts it as one session when I connect to download all.
It becomes much more reasonable to have a limit of 15 per month as I could do this 3 times a week and not go over the limit, which is more than plenty for what I need.
Now the question would be on May 1st, why the bank shows that I had 11 sessions when I'm positive I never did that, being aware of not incurring charges.
Any other thoughts on the way Moneydance works that might have caused this?
4 Posted by Ben Spencer on 02 Jul, 2010 03:57 PM
I am sorry I have not responded sooner. I cannot think of a reason why there were so many connections on that day. One way of trouble shooting this would be to turn on the console window. Select Help->Console Window. this output will display detailed information on action Moneydance is taking such as each details on each download as it happens.
Sincerely
Ben Spencer
Angie Rauscher closed this discussion on 24 Jul, 2011 07:56 PM.