Banks that support direct connect?

Posted by Diver4242 on June 22, 2009, 10:26 am

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My bank (Commerce Bank of Harrisburg PA) recently became Metro Bank.
This change also means that direct connect is no longer supported, so
I have to do web connect which is a lot more work in remembering to go
download the file and import it, etc. i also can't pay my bills
anymore with one step, i have to go to the bank's web site to do that
(which is currently down!).

So I might have to switch banks. Is there a list anywhere of banks
that support direct connect? I find that when I call them most don't
know or get confused and think this is the same as web connect.

Also is this a trend? My wife's employer just switched 401k to Great-
West and they only have web connect also!

Posted by John Pollard on June 22, 2009, 1:44 pm

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Diver4242 wrote:

> My bank (Commerce Bank of Harrisburg PA) recently became Metro Bank.

> This change also means that direct connect is no longer supported, so

> I have to do web connect which is a lot more work in remembering to go

> download the file and import it, etc. i also can't pay my bills

> anymore with one step, i have to go to the bank's web site to do that

> (which is currently down!).

> So I might have to switch banks. Is there a list anywhere of banks

> that support direct connect? I find that when I call them most don't

> know or get confused and think this is the same as web connect.

One way to get that answer, if you already know the name of the financial
institution, is to look it up in the Quicken "Participating Financial
Institutions" list ... in the Quicken "Online" menu.

If you don't have an fi name, the alternative is cumbersome, and I can't
attest to its value. If you need that post back.

> Also is this a trend? My wife's employer just switched 401k to Great-

> West and they only have web connect also!

I can't tell you whether there is a trend or not; but these are tough
financial times, and Direct connect downloads cost the financial
institution more than Web connect downloads.

[If you have Q2008 or better, you MAY be able to take advantage of a new
type of download called Express Web Connect (you get Web connect downloads
in your One Step Update). I believe that financial institutions that
offer this, pay pretty much the same as for plain Web Connect (certainly
less than for Direct downloads). This download method has a spotty
success rate, but when it works, it's nice.]

--

John Pollard