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Capital One locks out Quicken — but for how long? [UPDATED: not for long]

October 16, 2012 5 Comments

[UPDATE 11/08/12: Sometime in the past few weeks, the problem went away. I assume Capital One and/or Quicken came to whatever decisions they needed in order to allow automatic downloads once again.]

I have a few Capital One credit cards — have had them for years. I use Quicken to track my finances and have it set up to download financial transactions automatically once a day from all my financial accounts, including Capital One.

A week or so ago, I started getting error messages from Quicken stating that it was unable to download my Capital One transactions. I get these occasionally — say, once every week or two — for different accounts, so I didn’t think too much of it.

But then the error messages were there again the next morning. And when I tried a manual download of Capital One transactions, I got the same message. I kept getting error messages each day. The Quicken messages at first suggested that I needed to log into my accounts at Capital One and authorize downloading of transactions. I logged in…and could find no such authorization. Then the error message within Quicken changed to read, “We couldn’t complete the downloads for your account(s) because your financial institution has disallowed access.”

Hmm.

So a day or two ago, I logged onto the CapOne web site and sent the following message:

I use Quicken to track my expenses. For the last week or so, CapOne has refused to let Quicken download my transactions. Why? (this applies to all my C1 cards)

To which I received this response:

Thanks for your message.

We regret any inconvenience you may have experienced.

Please know that Capital One® does not support Direct Connect services which allow customers to directly load their statements into their financial software.

Thanks for being a Capital One customer.

Regards,

Capital One

Huh? My re-response:

Well, you did up until a few days ago. I’ve had Quicken automatically downloading my credit card statements daily for months. Why the (unannounced) change in policy? And why should I stay with CapOne (vs. balance transfer to other banks that continue to allow downloads)?

To which I received this wonderfully informative and helpful response:

Thanks for your message.

We’ll be glad to assist you. Please call our Online Technical Support Department at 1-866-750-0873 and say or choose the corresponding option number from the following choices:

Unlock Account or press 1
Reset Password or press 2
Mobile Banking or press 3
Technical Support or press 4
General Account Questions or press 5

Our representatives are available 24 hours every day for your convenience.

Thanks for being a Capital One® customer, and please let us know if there’s anything we can do for you in the future.

Regards,

Capital One

So, there you have it. With no prior announcement or warning, Capital One has apparently suddenly disallowed downloading transactions directly into financial software.

Note that I did do some searching online and found a discussion of similar problem from a year ago. It suggested that the problem might be with Quicken and gave a solution.  Tried it. Didn’t work. On the other hand, the Capital One website still gives instructions as to how to download transactions into Quicken. On the gripping hand, this discussion over at Intuit tech support indicates that it’s due to a server/DDOS problem at CapOne, and it’s unclear how long it will take to resolve it, if ever.

I’m curious if others have noticed this problem.  ..bruce w..

 

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About the Author:

Webster is Principal and Founder at at Bruce F. Webster & Associates LLC. He works with organizations to help them with troubled or failed information technology (IT) projects. He has also worked in several dozen legal cases as a consultant and as a testifying expert, both in the United States and Japan. He can be reached at 720.895.1405 or at bwebster@bfwa.com.

Comments (5)

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  1. charles says:

    I have been having the same issue. Thanks for documenting the situation. The following link appeared 10/16/12 on the intuit website. On that web page is a link to a form where you can register to be notified when the issue is resolved. Thanks.
    http://quicken.intuit.com/support/help/bank-download-issues/capital-one-error-155-or-cc-555/SLN64390.html

  2. bfwebster says:

    Actually, you can do it for next to nothing. Go to a site like WordPress.com or Blogger.com (or, I’m sure, any number of other blogging sites), and you can set up your own blog quickly and, I believe, for free.

  3. Have you ever thought about creating an ebook or guest authoring on
    other blogs? I have a blog based upon on the same ideas you discuss and would really like to have you share some stories/information.
    I know my subscribers would value your work. If
    you’re even remotely interested, feel free to send me an email.

  4. Mike says:

    BB&T – INTUIT COLLUSION
    TARRIF CHARGES

    “Financial Software Access” means using third-party financial management software to connect to your Accounts. The Company provides the technology to support third-party, two-way connectivity using Open Financial Exchange (OFX), the industry standard for the exchange of electronic information over the Internet. Examples of third-party software include, but are not limited to, Quicken® and QuickBooks® software

    Date: 09/24/2013
    From: Customer Service
    To: JOHN DOE
    Subject: BB&T Account Question
    Dear Mr. JOHN DOE:
    Thank you for contacting BB&T E-Mail Support regarding Quicken/Quickbooks.
    Unfortunately BB&T E-Mail Support is unable to assist you further in your inquiry.
    However, at your convenience you may wish to contact our Online Support with the number listed below.
    We apologize for any inconvenience this caused you.
    As security issues prevent us from assisting you by e-mail, please call OnLine Support toll-free at 1-888-228-6654. OnLine Support Associates are available to assist you from 6 a.m. to 12 midnight, ET, seven days a week. Our hours of operation for Technical Support are Monday through Friday, 8 am to 6 pm. Thank you for using BB&T OnLine. We appreciate your business!
    BB&T E-Mail Support

    Date: 09/23/2013
    From: JOHN DOE
    To: Customer Service
    Subject: BB&T Account Question
    This is a cheap cop out on the part of BB&T.
    As I’m sure you’re well aware, neither quicken nor quickbooks (nor any other accounting or checking software) will import account history in a csv file format. Go figure.
    In essence, since BB&T has partnered (colluded) with Intuit, all transactions must be either manually entered, one at a time or changed to a supported format via Intuit software which coincidentally, carries a monthly fee as well.
    Ergo, your message below, is a polite, if not political way of saying, “Tough Shi-”. Pay us our tariff or do it the long way.
    This is not the customer service I would expect from BB&T and again, suggests profiteering collusion on the part of BB&T.
    Why has BB&T specifically engineered this download process so as to make it incompatible with the import features of Quicken/QuickBooks?

    Date: 09/19/2013
    From: Customer Service
    To: JOHN DOE
    Subject: BB&T Account Question
    Dear Mr. JOHN DOE:
    Thank you for contacting BB&T E-Mail Support to inquire about downloading your account information through OnLine Banking.
    Please follow the steps listed below to download transactions using .CSV file format:
    1. Logon as usual
    2. Select account to view
    3. Account History will be displayed
    4. Click Export History
    5. Current month will be displayed
    6. Click Next
    7. Click Export to .CSV
    8. Save the file to disk (default setting) and Click OK
    9. Save As box will appear
    10. Save in Desktop, Note: Recommended but not required
    11. File name will default to Export.CSV, Note: It is recommended to enter a different file name
    12. Click Save
    13. Download is now complete
    If you require additional assistance, please call OnLine Support toll-free at 1-888-228-6654. OnLine Support Associates are available to assist you from 6 a.m. to 12 midnight, ET, seven days a week. Our hours of operation for Technical Support are Monday through Friday, 8 am to 6 pm.
    If E-Mail Support can be of additional assistance to you, feel free to e-mail us again through BB&T OnLine. Thank you for using BB&T OnLine. We appreciate your business!
    BB&T E-Mail Support

    Date: 09/18/2013
    From: JOHN DOE
    To: Customer Service
    Subject: BB&T Account Question

    There is no apparent method of downloading my account information on my ONLINE SERVICES page.
    How do I accomplish this?

    Date: 09/17/2013
    From: Customer Service
    To: JOHN DOE
    Subject: BB&T Account Question

    Dear Mr. JOHN DOE:
    Thank you for contacting BB&T E-Mail Support regarding accessing your account online.
    Mr. JOHN DOE, as indicated in your previous e-mail communication with BB&T, BB&T charges no fee for accessing your account information via BB&T OnLine. This includes downloading your account information.
    However, a fee is assessed for the use of Quicken to access your account balances and transactions.
    Please be assured this fee is disclosed in the Business Services Pricing Guide provided at the time of account opening. You may also view this information via our website by going to the link below and selecting your state of North Carolina:
    http://www.bbt.com/bbtdotcom/customer-service/business-services-pricing-guide.page
    If you need assistance with accessing your account via BB&T OnLine without the use Quicken, please feel free to contact by calling 1-888-228-6654. OnLine Support Associates are available to assist you from 6 a.m. to 12 midnight, ET, seven days a week. Our hours of operation for Technical Support are Monday through Friday, 8 a.m. to 6 p.m.
    Thank you for banking with BB&T. We appreciate your business!
    BB&T E-Mail Support

    Date: 09/14/2013
    From: Customer Service
    To: JOHN DOE
    Subject: BB&T Account Question

    Dear Mr. JOHN DOE:
    Thank you for contacting BB&T E-Mail Support regarding Quicken service for your account.
    The fee for Quicken services is assessed monthly as BB&T supports the current version and the two previous versions of Quicken Windows, Quicken Mac, as well as the current version and the previous two versions of QuickBooks Windows and QuickBooks Mac. These are additional services provided to clients through a partnership with the vendor; thus requiring additional technical staff and support.
    Mr. JOHN DOE, if you have additional questions you may contact online support at the number listed below.
    We apologize for any inconvenience.
    If we can provide additional assistance, please contact us again by e-mail or by telephone at 1-888-228-6654. OnLine Support Associates are available to assist you from 6 a.m. to 12 midnight, ET, seven days a week. Our hours of operation for Technical Support are Monday through Friday, 8 am to 6 pm. Thank you for using BB&T OnLine. We appreciate your business!
    BB&T E-Mail Support

    Date: 09/12/2013
    From: JOHN DOE
    To: Customer Service
    Subject: BB&T Account Question

    Do I understand correctly that BB&T is profiting from my quicken account information downloads to the tune of 9.95/mo?
    If so, how do you justify this fee? What service or effort has BB&T extended to justify charging me to download my account information?
    JOHN DOE

    Date: 07/16/2013
    From: Customer Service
    To: JOHN DOE
    Subject: BB&T Account Question

    Dear Mr. JOHN DOE:
    Thank you for contacting BB&T E-Mail Support regarding the BB&T OnLine service fee on your account.
    Our records indicate that you are currently using Quicken to access your account information online.
    A monthly fee of $9.95 will apply to access your account balances and transactions in Quicken.
    BB&T charges no fee for access to your account information in BB&T OnLine, our Internet-based online banking product, or for unlimited use of our online bill payment feature.
    If we can provide additional assistance, please contact us again by e-mail or by telephone at 1-888-228-6654. OnLine Support Associates are available to assist you from 6 a.m. to 12 midnight, ET, seven days a week. Our hours of operation for Technical Support are Monday through Friday, 8 am to 6 pm. Thank you for using BB&T OnLine. We appreciate your business!
    BB&T E-Mail Support

  5. Mike says:

    BACK GROUND:
    INTUIT has been lobbying in congress for years, to restrict the access and preparation of our tax return software to only their software programs.
    To this end, Intuit has gobbled up every tax return prep software program that comes out, killed its legitimate competitors (Microsoft Money) and even stymied the release of an IRS created, IRS maintained and 100% free tax preparation software program.

    The base premise here, is that both Intuit and the partner bank (who ever that may be) are deriving profits from accessing “service fees” for downloading your financial information into your paid for, licensed financial software, whether automatically or manually.
    In addition, both parties have specifically, whether intentionally or by omission, made it impossible to download this information without paying this fee which by definition, becomes a tariff.

    My premise on the issue above, is that Capitol One has quietly, refused to partner with Intuit and as such, Intuit has in turn, blocked CO from the use of their formatting system.

    The only solution I have found is use of a third party translation product that will translate a csv file format to an ofx format but that only works if you have only one account. Multiple accounts won’t work even on an individual download basis as the INTU.BID numbers and account names boggle the software.

    I have been searching the web for information on the legality of this issue but have been unsuccessful in finding anything about it thus far.

    Any one have anything else helpful to add?

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