posted: Mar. 1, 2007 @ 8:20p
Edit:As dolmar explains below, the changes at PenFed.org involve support for new 1-way quicken option, "Express web connect". This is despite the fact that PenFed's own staff aren't aware of this. I'll keep the thread up to let others know, and to enable discuss how that new level of support is working (or not). Thanks to dolmar for his help with this! (End Edit)
As the most popular credit union discussed in these forums, I'm hoping that others will be as interested as I was in figuring out what the recently revamped Penfed.org web site could do with quicken downloads.
I had many problems using "one step update" and "direct connect" in Quicken 2007 Home & Business to automatically download transactions. So, I wrote Penfed's IT department (they won't talk to you by phone) to inquire about the problem. Here's the relevant portion of the answer I received a few days later: [Q]The Quicken program may offer to download information for you directly from a financial institution. Direct downloads are not currently available for PFCU accounts. The firewalls that we have in place to protect our members privacy is a factor into why direct downloads are not available for your PFCU accounts. Given the choice of protection for our members or the option of direct download, it is management's decision to place the emphasis on security, especially in this age of increased identity theft.
In order to import transactions for PFCU, please type "Pentagon" into the Search field (within Quicken)when prompted to access the list of compatible financial institutions. Then, follow the software's instructions for importing transaction files. You can also do manual downloads using the QIF format (we don't support OFX for the Mac at this time) .
Alternatively, you may download account activity information into Intuit Quicken formats and Microsoft Money formats for importing. Quicken version 2004 or higher only supports checking, savings, and credit card transactions. If you wish to obtain certificate of deposit transactions, please note that a certificate of deposit should appear as a savings account for the purposes of downloading.
From the main screen of PenFed Online, select the appropriate account by clicking on the account number. The next screen will present you with the 20 most recent transactions on your account. The download feature will appear directly below the last listing on the page.
To download all the transactions listed on the page keep "All" as the value selected in the pull-down menu. To download only certain transactions, select the "Transactions selected individually above" value and check the box to the right of the transactions you want to download. To download a range of transactions select the "Transaction # range" value from the pull-down menu. Enter the beginning transaction and the ending transaction numbers in the "range" boxes. These numbers are found to the left each transaction listed above. The transaction numbers are used only in the display of this screen and should not be referenced when contacting Pentagon Federal Credit Union.So basically, they're saying that only "web connect", e.g. manual downloads, will work.
The problem is that when I set up a brand new Quicken test file and had it download PenFed accounts, it found all of them, downloaded the transactions, and enabled everything for "one step update."
Now, it's entirely possible that even though Quicken SAYS direct connect/one step update is active, it really isn't--rather that's just Quicken's clumsy way of saying that the software was properly set up...
I'm looking for other experiences and "data points" with Quicken and Penfed. In particular, if you tried to get penfed working with direct connect/one step update, did you get it to work, or not? And if so, how?
Any other tips folks want to share with Quicken and Penfed would be welcome here too.
TIA, and I hope this info helps someone else.