Unable to Download Transactions From Schwab

timfetner's Avatar


02 Oct, 2021 05:22 PM

Recently upgraded to build 4045 and noticed issues with downloading transactions from Schwab. Followed all the guidance I found on the site, and still no luck. I now have noticed that when I try and disable online banking with my accounts to reset, it doesn't disable. I have a high number of transactions each month in these accounts and I definitely don't want to have to manually enter these. I also went back to previous version of MD (3095 and 4043) and no luck. Rebooted as well. Currently on MacBook Pro running Big Sur 11.6.

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  1. 31 Posted by dwg on 15 Oct, 2021 01:44 AM

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    I think people may need to wait for the dust to settle a little and with Schwab in particular. The sense I have is that Schwab are moving towards using FDX.

    My reading of FDX is that is works somewhat like Open banking in that a token is provided that allows the transaction information to be downloaded by or through the intermediate (aggregator) you have selected. They do not have your username/password combination at any time.

    Naturally you can rescind this approval at any time.

    This approach removes the barrier of having to provide usernames/passwords to third parties which is the largest security problem.

  2. 32 Posted by johnsonw on 15 Oct, 2021 11:19 AM

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    Thank you dwg for that insight into FDX. I agree with you - patience is warranted as the financial industry continues to evolve its methods and security related to data sharing. Since I have a work-around for importing Schwab data into MD (see above), I will see what happens in the coming months.

  3. 33 Posted by andrea_k on 27 Oct, 2021 01:40 PM

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    My Schwab downloads through Schwab is working with one problem. Schwab downloads only the completed transactions but gives the balance based on both completed and pending transactions. So reconciles don't reconcile.

    Is there some option that I should be setting?

  4. 34 Posted by jrjr on 04 Nov, 2021 10:30 PM

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    Are the Schwab downloads working with 2 factor authentication? I had to use the 2FA token code to connect through Moneydance+, and then it failed downloads but told me it was due to 2FA, which I am not willing to turn off. I cancelled Moneydance+ for now. I did query 'Moneydance thru Plaid' which put me in contact with a virtual assistant, to no avail.

  5. 35 Posted by dtd on 04 Nov, 2021 10:46 PM

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    just a user

    can you recognize devices (yours) with 2FA and Schwab? That might be something to pursue, as you won't always have to get a token code for a recognized device?

  6. 36 Posted by jrjr on 04 Nov, 2021 11:19 PM

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    not sure I understand the question. When I originally tried to register a Schwab username and pw, failed. Then I registered the pw with a token number appended, and was able to complete the registration, but downloads did not work. But I may have been too hasty; yesterday 'Setup Moneydance+' showed the 2 accounts (checking and investing) I registered with no name, and after I cancelled Moneydance+, it would not let me disconnect them. Today, it was properly identified as Schwab, and I was able to disconnect them. (I also changed both my passwords, since the process seemed so flakey.) Possibly if I waited a day, it would have worked?

  7. 37 Posted by dtd on 06 Nov, 2021 08:13 PM

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    jrjr - don't know, as I haven't tested MD+ yet, but I've often found (Awardwallet, for example) that there are ways to workaround 2FA.

    1) One is turn off 2FA only for the setup process, then turn it back on.
    2) One is to say 2FA except with recognized devices (and thus Plaid can become a "recognized device".

    Now the token concept may make this more problematic. I probably should just start testing it even though I've been waiting for Schwab investment accounts to work.

  8. 38 Posted by dtd on 06 Nov, 2021 08:17 PM

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    @johnsonw - Thanks for your mention of Propersoft Transactions Essential. I'm also looking for a way to use CSV with Schwab, given that's the only option now (If I can get this to work, I won't need MD+)

    Questions: Are you using this only for Schwab Banking or Credit Card, or are you also using this for your investments/stocks accounts? In reading the overview for Transactions Essential, it seems to say "only banking/cc".

    If you do have this working for investment accounts, you mention having to fix "action", but what about stock symbols, quantity of sale, and so on?

    Thanks for describing how you are making this work as an interim solution.

  9. 39 Posted by johnsonw on 07 Nov, 2021 12:30 AM

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    I have only used Propersoft Transactions for importing investment accounts. It works, but some transactions do require small changes, like dividends are listed as transfers and such. That said, I have only done imports once or twice so I really can't speak to how reliable or successful it will be in the long run.

  10. 40 Posted by dtd on 07 Nov, 2021 12:48 AM

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    So it does convert Stock Symbols and Quantity of Sale (which wouldn't be in a bank or cc transaction)?

    Thanks for your experience.

  11. 41 Posted by johnsonw on 07 Nov, 2021 11:36 AM

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    I just did another import from csv->qif uisng ProperSoft transactions into a Schwab investment account. This time, month and day were reversed in transactions, and amounts were negative instead of positive, It did get the proper symbols. I had no buys or sells so don't know about number of shares. It is quite possible that I did not set the parameters correctly in the program, which is why I had these issues this time, not last. Or, maybe it is better to do csv->ofx. Lots of ways to play around to see if it will work for your particular situation. All in all, I cannot give this program or approach a complete thumbs-up. So far for me, it works sort-of, but it is a PITA. Since I am not a heavy trader in my Schwab accounts, I may just enter the data manually. YMMV.

  12. System closed this discussion on 06 Feb, 2022 11:40 AM.

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