I understand. Does the entire QFX file get sent to Intuit for this verification process? Thanks.
I don't know for certain, but my guess is, no. I think the only thing the "verirification" process needs is the financial institution's Intuit-assigned "id", which should have been put in the QFX file by the fi.
You have 2 options: Either move to a different Financial Institution which most of the "Senior Contributors" may tell you, or do what I did, move to MS-Money. MS-Money does accept QIF and works fine. Of course OFX does work as well and is the equivalent of QFX, but for free.
Did you get any replies to your question? I am new to Quicken2009 after having not used Quicken for a number of years, am in the same boat w/my bank & cannot import transactions.
You have 2 options: Either move to a different Financial Institution which most of the "Senior Contributors" may tell you, or do what I did, move to MS-Money. MS-Money does accept QIF and works fine. Of course OFX does work as well and is the equivalent of QFX, but for free.
When I tried to import my bank's QIF file and Quicken Premier 2009 said that it won't import QIF files for checking and savings accounts, there was a link "Why?" that I could click for the answer. When I clicked on it, it took me to a "Page not found". Maybe they don't know either.
Pls, don't let any "Senior" contributor make you look stupid. The matter of the fact is that the reason why there are hundreds of posts/questions abou this is that from a consumer/client point of view, it doesn't make any sense to have such a good feature desabled, unless you spend the time doing the research, which most of us most likelly won't do. Intuit followed the industry to a better file format called OFX (open financial exchange). Can you recall your bank enabling you to download OFX? Ok that works with MS-Money and a bunch of other softwares out there.
Back to Intuit: Quicken created a file format based on OFX called QFX, notice the "Q" in front of it...it adds 4 lines to the OFX. Two of them being the financial institution ID and the password for that institution. In short, Directly or indirectly YOU HAVE TO PAY to the bank in order to be able to download an importable transaction file to your Quicken.
The "Senior guys/girls" in this forum will tell you to switch to a different institution if they don't provide QFX, but will never tell you to switch programs like I did. I have been using MS-Money now in Brazil with ANY bank and all working fine. Even Citibank only exports QIF and it works great!
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