Once you add your bank and investment accounts and activated them online services, you'll need to keep your account balance information current.
The easiest way to keep your accounts up-to-date is to use One Step Update - a single access point for almost all online features.
Whenever you use One Step Update, you retrieve information for all online activated accounts at the currently selected financial institutions.
Transaction information is updated directly into Quicken, and then you can compare your financial institution's records to your own. Typically, when a checks clears the bank or when a credit card purchase is processed, you find out about it the next time you go online. With One Step Update, you can:
Your financial institutions may require you to use passwords to access online services. There are two methods of managing financial institution passwords in Quicken. You can enter each password individually (least convenient), or manage multiple passwords in a vault (most convenient and secure).
Quicken's Password Vault is a secure and convenient way to store multiple financial institution passwords that you can then access with a single master password.
Depending on your financial institution, you may be required to change your assigned password the first time you connect to your financial institution. Your assigned password is the one your financial institution sent to you after you signed up for online service. Some financial institutions require multiple passwords, depending on the services and the accounts you use. If yours does, you'll be prompted again to change the next assigned password.
You can change the Vault password or stored (financial institution) passwords at any time. If necessary, you can also completely reset your Password Vault.
As a defense against phishing attacks and other online scams, the Federal Financial Institutions Examination Council (FFIEC) has released new guidelines that require financial institutions to strengthen their customer authentication measures for Internet banking transactions. As a result, many financial institutions are beginning to require identity verification beyond a customer ID and password when customers request online account access. This additional information is sometimes called multi factor authentication.
When you go online to update your transactions and balances in Quicken, your participating financial institution may request similar identity verification. When you use online setup to add your accounts, Quicken can store the verification information for you to make the download experience more convenient.
For security purposes, financial institutions change the type of authentication they request from time to time (for example, a bank might request you to enter your postal code instead of the year in which you were born). When these changes occur, Quicken prompts you to enter the new information.
From Quicken's Online Center, you can print a list of:
Select the specific accounts, securities, and other items you want to include in your One Step Update session. You can also use One Step Update to change your Quicken.com password and member ID.
Yes! Online payment saves time during every step of your regular bill-paying chores. With just a few keystrokes, you enter a payment transaction in Quicken and then send it electronically.
Online bill payment is available for checking accounts at participating financial institutions (including cash management accounts at participating brokerages).
Some financial institutions limit the number of times per month you can update transactions without incurring additional charges. If your transaction information is current, you may want to clear the download transactions instruction check box when you use One Step Update to send transfer or payment instructions.
You can update payment information as often as you like (at no extra charge). This update includes information about payments, transfers, and e-mail. To update payment information, be sure to send the Bring my payment information up to date instruction each time you connect.
Depending on how Quicken is setup to connect to your financial institution (FI), there may be a delay between the time the transactions are posted to your account and when they appear in Quicken.
If your FI uses Direct Connect, Quicken will receive the transactions directly from the FI when the FI sends them. Some banks only update (aggregate) accounts once every 24 hours while others update several times per day.
If your FI uses Web Connect, you're downloading transactions from their website so there should be no difference between the posted (cleared) transactions.
If you have activated Express Web Connect (aka Improve Connection), transactions will be updated once every 24 hours.
Many financial institutions let you bank or manage your investments online using your Web browser. However:
Follow the instructions found in the Getting Started section of Help.
Online account services are available only for U.S. dollar accounts; if an account is based on another currency, you will not be able to activate that account.