On USAA's Web Connect page ("USAA with Quicken and Microsoft Money"), The following message is now appearing:
For many years, I've been using Microsoft Money ("Sunset Edition"), a free, but unsupported, product. I regularly download my bank account activity using the Web Connect page. I am very content with this arrangement.
Does this message mean that Web Connect is going away, and we Microsoft Money users will now have to pay $35/year to subscribe to Quicken in order to electronically download our bank account information?
If so, I am displeased.
Hi @Laurance! Thank you for reaching out. I can certainly understand the convenience of this feature, and how the arrangement would help when configuring account activity. I would recommend reaching out to our Website Support Team for more information on this arrangement, including what this arrangement will look like moving forward. You can reach them at 877-632-3003. I've also submitted your feedback regarding this to the appropriate team on your behalf. I appreciate you taking the time to post today. ~Holland
I was most surprised to see the minimalist notification about account data downloads not being available after 5/26. I use the ".qfx" file to keep my MoneyDance management application up-to-date with the USAA bank. WHY would USAA choose to eliminate this most useful feature? In this day of electronic data every effort should be made to increase our ability to manage accounts with online connections. Who could possibly have suggested that retreating from modern data management is path USAA should be taking? With all of the online banking options available I feel that there is no reason forme to continue my 50+ year association with USAA.
Laurence and DKG- I concur with your comments. I've used web connect to download my data into my Budget software for over a decade...and today I discover that USAA has taken it way. Between this and the transition to Charles Schwab, I'm concerned about the quality and easy of use of USAA. And USAAs reply to Laurence was a non-reply. USAA, I hope you're listening...you are greatly testing the loyalty of this three decades plus member. For the first time ever, I'm going to shop around for a better option.
@MRL89, I understand that you have been a USAA member for over 30 years. We appreciate your loyalty, and we certainly don't want to lose your business. I have confirmed that USAA disabled Web Connect on May 25, 2020. Members will no longer be able to access their USAA account information through Web Connect or download their data in the Quicken .qfx format. Members who want to aggregate their data in Quicken still have the option to use Direct Connect.
You also mentioned a concern with the recent transition to Charles Schwab. Today’s business environment is quickly evolving in several ways, including fierce competition, regulatory demands and increasing consumer expectations. Our mission drives us to continually ensure we deliver highly competitive products to meet the unique needs of our membership. Sometimes, this means working with providers that can offer greater value in the marketplace based on expertise and scale. We chose Schwab because Schwab serves its clients by approaching every decision “through clients’ eyes” and putting clients first. Members can learn more about the Schwab transition at http://usaa.com/investmentupdate.
As a member of over 30 years, your concerns are important to us, and I'm sharing them with the appropriate teams for review. ~DC
I too am unhappy with this decision. I have used this for a VERY long time, and now my budgeting software that I use doesn't allow for direct connect, so I will have to change my entire budgeting software in order to reconcile my account. This change makes no sense!
See my comment under OFX downloads.
I have filed a ticket with Web Support, but that's the wrong solution. Management needs to explain just why the can't--or won't--continue the feature. And don't try the "security" excuse. My home computer is a whole lot safer an environment than Quicken's server. I don't trust anyone with my USAA password. Least of all Quicken, which is why I stopped using Quicken a good while ago.
@Grandpa Charlie, at this time we do not have additional information to provide regarding why the feature has been discontinued. Members who want to aggregate their data in Quicken will have to use Direct Connect. If you have any further questions or concerns you may contact Technical Support at 1-877-632-3003 for assistance. Thank you. - Rhonda
I too am in the same suitation with no longer being able to download my USAA account data to my money management software. I called USAA about my concern and was switched to the web management people and got the basic response of thats how it is now. They said that my complaint would be noted. I believe that USAA members who are upset about this should make this more known to all USAA members.
I have accounts at three other banks, 2 local banks and at Chase and they all allow downloading of my banking transactions. Shame on USAA for this minimal of a warning. I will NOT be buying an annual "Quicken" plan.