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Posted by DP on February 17, 2007, 10:47 am
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The exchange below -- which is from the recent thread "Wachovia - New
Monthly Fee for Using Quicken?" -- leads me to ask a question that has been
on my mind the last few days.
Is there a different data source that is accessed when one uses One-Step
Update as opposed to when you go to the website, download the data and have
it flow into Quicken?
If not, then how can a bank justify charging for downloading via One-Step
but not for downloading via the FI website? Do they have to do something
extra to make it compatible with One-Step Update?
And beyond that question, it seems to me that I've had situations where I
can see transactions on an FI website (NOT pending transactions) but which
One-Step Update does not pick up right away (in other words it may be
downloaded a day or two later via One-Step). This leads me to wonder if
there are different data sources that are being accessed by One-Step Update.
> BRH <BRH> wrote:
>
>>I use Quicken to pay bills online thru Wachovia and occasionally
>>transfer funds between accounts. Is that type of activity what they
>>mean by "accessing Wachovia Online Banking directly from
>>within....Quicken"? Or are they referring to something else?
>
> While I don't bank with Wachovia, I suspect what they are saying is that
> if you
> use the "One Step Update" button from within Quicken or Quicken's
> scheduled
> download function to download or upload transactions (ie pay bills or
> transfer
> funds), you will be billed the fee.
>
> On the other hand, if you log into Wachovia's web site and click on the
> download
> button on the web page, they will not charge you - even if that causes
> Quicken
> to automatically start up and import the transactions.
>
> You might call them and ask if you do sufficient business with Wachovia to
> get
> them to waive the fee, or consider switching to a bank that does not
> charge this
> fee.
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