Comments on: Wachovia to Start Charging for Direct Access to Quicken http://www.consumerismcommentary.com/2007/02/21/wachovia-to-start-charging-for-direct-access-to-quicken/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sun, 08 Nov 2009 07:50:42 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: T.Schramm http://www.consumerismcommentary.com/2007/02/21/wachovia-to-start-charging-for-direct-access-to-quicken/#comment-196575 T.Schramm Fri, 07 Aug 2009 00:32:05 +0000 http://www.consumerismcommentary.com/2007/02/21/wachovia-to-start-charging-for-direct-access-to-quicken/#comment-196575 I've tried for months to get Wachovia to stop charging me the $5.95 fee for Direct Connect. Each month they say they have removed the product from my account and refund the charge. Problem is - I keep getting charged, keep calling, keep being told the same thing. Does anyone know if I can disconnect this service myself through Quicken without having to delete the account? I’ve tried for months to get Wachovia to stop charging me the $5.95 fee for Direct Connect. Each month they say they have removed the product from my account and refund the charge. Problem is – I keep getting charged, keep calling, keep being told the same thing. Does anyone know if I can disconnect this service myself through Quicken without having to delete the account?

]]> By: R.Hash http://www.consumerismcommentary.com/2007/02/21/wachovia-to-start-charging-for-direct-access-to-quicken/#comment-96449 R.Hash Sat, 12 May 2007 05:04:15 +0000 http://www.consumerismcommentary.com/2007/02/21/wachovia-to-start-charging-for-direct-access-to-quicken/#comment-96449 The $5.95 just showed up on my statement with no warning whatsoever. I called Wachovia to find out what PFM was and the agent said it was Microsoft Money and Personal Finance Manager. She said the charges were from Microsoft and I have been on a wild goose chase until just now to find out who and what this was all about. This misleading info what worse than the charge itself. I have wasted over an hour trying to find out what this was. Now that I know I am really ticked. I will download on my own and get a refund from Wachovia. This is just sad all the way around. The $5.95 just showed up on my statement with no warning whatsoever. I called Wachovia to find out what PFM was and the agent said it was Microsoft Money and Personal Finance Manager. She said the charges were from Microsoft and I have been on a wild goose chase until just now to find out who and what this was all about. This misleading info what worse than the charge itself. I have wasted over an hour trying to find out what this was. Now that I know I am really ticked. I will download on my own and get a refund from Wachovia. This is just sad all the way around.

]]> By: Free Money Finance http://www.consumerismcommentary.com/2007/02/21/wachovia-to-start-charging-for-direct-access-to-quicken/#comment-85120 Free Money Finance Fri, 23 Feb 2007 11:21:57 +0000 http://www.consumerismcommentary.com/2007/02/21/wachovia-to-start-charging-for-direct-access-to-quicken/#comment-85120 Star Money Articles for the Week of Feb. 19... Here are interesting posts and news this week from the MoneyBlogNetwork members and beyond: AllFinancialMatters wonders if anyone should use a credit counseling service. MightyBargainHunter got a great deal on wings. Five Cent Nickel details how to get... Star Money Articles for the Week of Feb. 19…

Here are interesting posts and news this week from the MoneyBlogNetwork members and beyond: AllFinancialMatters wonders if anyone should use a credit counseling service. MightyBargainHunter got a great deal on wings. Five Cent Nickel details how to get…

]]> By: tolak http://www.consumerismcommentary.com/2007/02/21/wachovia-to-start-charging-for-direct-access-to-quicken/#comment-84945 tolak Thu, 22 Feb 2007 07:21:04 +0000 http://www.consumerismcommentary.com/2007/02/21/wachovia-to-start-charging-for-direct-access-to-quicken/#comment-84945 "This is an example of Quicken’s high cost to the banks being passed onto the consumerâ€â€?banks have to pay Intuit to support Quicken’s file format." This doesn't explain how you can still manually download the Quicken web connect for free. Obviously they are supporting this file format for no charge. Until now I thought the bank pocketed the fees. It's hard to imagine Intuit charging monthly fees as high as $5-10 per user in licensing. Banks, OTOH, can charge for a "service". Still, between manual downloads and automated access there is no more capacity or infrastructure needed other than simply allowing access to Quicken on behalf of the user. “This is an example of Quicken’s high cost to the banks being passed onto the consumerâ€â€?banks have to pay Intuit to support Quicken’s file format.”

This doesn’t explain how you can still manually download the Quicken web connect for free. Obviously they are supporting this file format for no charge.

Until now I thought the bank pocketed the fees. It’s hard to imagine Intuit charging monthly fees as high as $5-10 per user in licensing. Banks, OTOH, can charge for a “service”. Still, between manual downloads and automated access there is no more capacity or infrastructure needed other than simply allowing access to Quicken on behalf of the user.

]]> By: Jonathan http://www.consumerismcommentary.com/2007/02/21/wachovia-to-start-charging-for-direct-access-to-quicken/#comment-84944 Jonathan Thu, 22 Feb 2007 07:01:33 +0000 http://www.consumerismcommentary.com/2007/02/21/wachovia-to-start-charging-for-direct-access-to-quicken/#comment-84944 I'm with THC. This is dirty little secret of Quicken that doesn't show on the box, and how they REALLY make money. Many leaner banks like credit unions can't afford such fees and don't offer access at any price. Doesn't BofA charge too? It's also why I don't use Quicken. I’m with THC. This is dirty little secret of Quicken that doesn’t show on the box, and how they REALLY make money.

Many leaner banks like credit unions can’t afford such fees and don’t offer access at any price. Doesn’t BofA charge too? It’s also why I don’t use Quicken.

]]> By: Trepp http://www.consumerismcommentary.com/2007/02/21/wachovia-to-start-charging-for-direct-access-to-quicken/#comment-84910 Trepp Thu, 22 Feb 2007 03:40:26 +0000 http://www.consumerismcommentary.com/2007/02/21/wachovia-to-start-charging-for-direct-access-to-quicken/#comment-84910 About 3 years ago Bank of America started to charge me 10$ per month for Quicken access!! I went in and asked them to remove the fee, which they wouldn't, so I canceled my account and moved my money to UMB bank which does not charge for Quicken access. I do all my banking on-line, and only use a teller to deposit checks (very rarely). For them to keep my business it costs them whatever quicken charges them, especially since they offer no interest on my checking account and a piddly interest on my savings account. About 3 years ago Bank of America started to charge me 10$ per month for Quicken access!! I went in and asked them to remove the fee, which they wouldn’t, so I canceled my account and moved my money to UMB bank which does not charge for Quicken access. I do all my banking on-line, and only use a teller to deposit checks (very rarely). For them to keep my business it costs them whatever quicken charges them, especially since they offer no interest on my checking account and a piddly interest on my savings account.

]]> By: thc http://www.consumerismcommentary.com/2007/02/21/wachovia-to-start-charging-for-direct-access-to-quicken/#comment-84902 thc Thu, 22 Feb 2007 02:51:30 +0000 http://www.consumerismcommentary.com/2007/02/21/wachovia-to-start-charging-for-direct-access-to-quicken/#comment-84902 As I read your post I was afraid you were going to come down against Wachovia. I'm happy to see that you understand how Quicken has been taking advantage of banks and I'd like to see more of them take a stand on this. As I read your post I was afraid you were going to come down against Wachovia. I’m happy to see that you understand how Quicken has been taking advantage of banks and I’d like to see more of them take a stand on this.

]]> By: Jesse http://www.consumerismcommentary.com/2007/02/21/wachovia-to-start-charging-for-direct-access-to-quicken/#comment-84888 Jesse Wed, 21 Feb 2007 23:59:40 +0000 http://www.consumerismcommentary.com/2007/02/21/wachovia-to-start-charging-for-direct-access-to-quicken/#comment-84888 Quicken is overshooting. There are easier ways to manage your money more effectively, for less time, and less money. We're in beta right now to be able to import Quicken's format (.qfx) and the more standard (free) .ofx format. It'll require you to go to the site and download, just as you do now Flexo. So this is actually good news for me. Quicken is forcing banks to pay, who are in turn forcing the consumer to pay. Quicken is overshooting. There are easier ways to manage your money more effectively, for less time, and less money.

We’re in beta right now to be able to import Quicken’s format (.qfx) and the more standard (free) .ofx format.

It’ll require you to go to the site and download, just as you do now Flexo. So this is actually good news for me. Quicken is forcing banks to pay, who are in turn forcing the consumer to pay.

]]> By: mapgirl http://www.consumerismcommentary.com/2007/02/21/wachovia-to-start-charging-for-direct-access-to-quicken/#comment-84879 mapgirl Wed, 21 Feb 2007 22:14:34 +0000 http://www.consumerismcommentary.com/2007/02/21/wachovia-to-start-charging-for-direct-access-to-quicken/#comment-84879 Well, this is really annoying. But I suppose I'm not in love with Wachovia anyway. It sounds like you can go and fetch your download without a fee, but I think this will drive me to pull out more cash from the ATM instead of using my debit card for everything. I used to love the debit card/Quicken download, but I'm finding as time passes, Quicken wants me to use their service and I'm less and less thrilled with them. Their forecasting feature was great in the basic version back in 1996. Now it's offered in the Deluxe package but it doesn't seem to work as well as it used to. (Maybe partly because I have weird stuff going on with a mortgage now with transfers from one account to the other, etc.) Well, this is really annoying. But I suppose I’m not in love with Wachovia anyway. It sounds like you can go and fetch your download without a fee, but I think this will drive me to pull out more cash from the ATM instead of using my debit card for everything. I used to love the debit card/Quicken download, but I’m finding as time passes, Quicken wants me to use their service and I’m less and less thrilled with them. Their forecasting feature was great in the basic version back in 1996. Now it’s offered in the Deluxe package but it doesn’t seem to work as well as it used to. (Maybe partly because I have weird stuff going on with a mortgage now with transfers from one account to the other, etc.)

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