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Posted by Don in San Antonio on August 19, 2006, 10:09 am
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Disciple wrote:
> On 16 Aug 2006 13:05:10 -0700, Sam wrote:
>
>> Sorry if this is posted elsewhere but I have what I think is a basic
>> question. I have been using msmoney for years and using online bill pay
>> for several years as well. Using msmoney I would log onto my banks web
>> site to schedule my transactions and then download those transactions
>> into msmoney when they cleared. Doing this worked fine except that
>> after downloading the transactions I would still have to assign expense
>> catagories and make sure the payee name was correct.
>>
>> So now I would like to switch to quicken (for several reasons) and I
>> want to make sure I can use online bill pay but rather than downloading
>> the trasactions I want to enter the transactions in quicken and then
>> send the payment to the bank. From what I have read on this forum I
>> believe that is possible when using Quicken Bill Pay. Is that correct?
>> And there appears to be a monthly fee of $9.95 for this service but I
>> think I have read from a few posters that their particular bank does
>> not charge for the use of quicken bill pay, is that true? If so can you
>> post the name(s) of the bank(s) that do not charge for using quicken
>> bill pay? Are there any banks that allows the user to enter their
>> transactions into quicken and upload the transactions to the bank so
>> that all the transactions originate from within quicken for free with
>> or without using quicken bill pay? Is there an alternative to quicken
>> bill pay that allows the user to originate transactions in quicken and
>> upload to their bank?
>>
>> Since my current bank does not support quicken not only will I be
>> switching softwares but also switching to a new bank and I want to make
>> sure that with quicken and the new bank I will be able to enter all my
>> transactions in quicken and then upload those transactions. Just trying
>> to make sure I know what I am getting into before going through all
>> this hassle.
>
> Sam take a look at this Intuit web page that lists the Financial
> Institutions that support Quicken,
>
<http://web.intuit.com/personal/quicken/search.cfm?type=basic&qwid=qw1500&qmid=qm1501&qbid=qb1600&qbmid=qbm1600>.
> What you want is a FI that provides/supports Direct Connect, this allows
> you to enter transactions into Quicken and then upload them to the FI for
> processing/payment.
>
> Quicken Bill Pay is a sperate service from Direct Connect, and as you know
> costs $9.95 per month. A FI may or may not charge for Direct Connect access
> to an account, but if you have Direct Connect access that will be the only
> fee charged.
>
> HTH, and that I have not confused you any.
>
>
Thanks for the listing of Banks and Financial Institutions that support
Direct Connect. I found two accounts that I'd been using Web Connect
for that also supported Direct Connect. One question, I have Quicken
2005 Premier and I don't think it supports transaction uploads to my
bank. I had done this in earlier versions of Quicken, but I think they
Intuit dropped this feature out around 2004 then put it back in around 2006.
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