Chase Bank is updating the balance ahead of clearing the transactions

SRC54

For the past week or so, Chase Bank Credit Card (using the Chase OAuth Connection) has started updating the Online Balance a few hours ahead of clearing the transactions. This, of course, throws off the balance in Simplifi. Normally, my workaround is to clear the offending transaction myself. This morning I had several and it was quite a hunt to clear the right ones.

This is happening in both Simplifi and Quicken (which uses same OAuth Connection type). Of course, Quicken handles it differently so the balance is right but it throws off Auto Reconcile. I've reported the problem to Quicken through Quicken Classic.

For some time, Capital One has done this, and I've lived with it, but now if Chase is going to start this too, it will be a double pain as I use it more. is there any way we can get these banks to download the transactions when they are going to update the balances?

It's not a matter of changing the Pending Settings as most of the time, these accounts' balances exclude pending transactions.

Coach Jon

Hello @SRC54,

Thanks for reaching out! Quicken Simplifi is designed to count pending transactions toward your balance; this includes manually entered pending transactions with the current or a prior date, as well as downloaded pending transactions. This allows you to get a better idea of how much money you actually have in your bank accounts, as banks typically provide a balance that does not include pending transactions. More information about how the balance is calculated in Quicken Simplifi and how to disable pending transactions from being counted towards the balance can be found in this support article: https://help.simplifimoney.com/en/articles/4202003-how-to-resolve-balance-discrepancies

Hope this helps,

Coach Jon

SRC54

Yes @Coach Jon. But the problem is that Chase for some reason is updating the balance counting the pending transactions it previously downloaded, but lags in marking the pending transactions cleared. This throws off the balance until the next download (or until I clear the pending transactions that are apparently no longer pending but Chase didn't yet update). This is new behavior in the past week. And I think it is an error on Chase's part.

As expected, it cleared up at 10am when Simplifi updated again.

Coach Jon

Hello @SRC54,

This may be something you want to take up with the bank for sure. As for what can be done on our side, you may try to make the accounts manual and then use the Add Account flow to get a completely fresh connection. If the connection is successful, you'll then want to link the account to your existing Quicken Simplifi account. Let us know how that goes!

-Coach Jon

SRC54

@Coach Jon Oh, I will take it up with Chase Bank. I am an old campaigner. They will say, as always, to take it up with Quicken. It's been the same song for 30+ years.

I posted this not so much for a resolution, though hope springs eternal, but more to see if others were seeing this behavior and to carry on an discussion about the future for apps like Simplifi that work backward from the downloaded balance. Quicken Classic would not have this problem, but it shows up in accounts where I used auto Reconcile so I know what to expect in Simplifi.

As I mentioned in my original post, Capital One does this too, but it works a bit differently. Capital One doesn't download pending transactions so I have to enter them manually. Simplifi correctly subtracts them from the downloaded balance. 2 days later, when I update, Capital One downloads the updated balance (but not the transactions) so Simplifi keeps subtracting the now taken-into-account transactions and my balance is wrong. I usually just go ahead and clear the transactions in Simplifi or I can wait 4 hours and they will download and match and the balance is correct again. (Even if I clear them myself, Simplifi downloads and matches them anyhow, which is how it should be.

I never thought either of these cases was Simplifi or Quicken's fault. It just points up again the problem of making these apps work for all these banks and their peculiarities, which is one reason why I will harp on this over and over, that I fear the future is for manual accounts and why we need in Simplifi QFX import. And why Simplifi needs to make Manual Accounts more robust to avoid the intermittent problems they have with transaction summation.

PS. I will reset the Chase connection at some point. It might work for Chase. It never has for Capital One. Thanks.

RobWilk

chase does this on weekends, holidays, and something like 9pm to 7am weekdays. I had a.long back and forth about this over a year ago.

SRC54

@RobWilk Well, I have no trouble connecting, but it merely updates the balance but doesn't update the now cleared transaction until the next time. I have tried resetting the connection.

RobWilk

@SRC54 that’s the issue, it connects but outside of those hours, it will not download transactions but will update bank balance, and yes, this causes problems if you do manual entry like I do

RobWilk

this was the original discussion on this

https://community.simplifimoney.com/discussion/3730/issues-with-new-chase-connection-type

SRC54

@RobWilk Thanks for the clarification. I hadn't noticed this until lately. I routinely connect at 530am Central Time to download my transactions so I start off the day. Most banks have updated by that time. It's funny because I got used to doing that before Fidelity locked their downloads but since changing to the updated connection, I don't get the dreaded ! from them. It just reports correctly that there is nothing new to download. I see no reason for Chase to do this behavior. It's almost as if the banks want to kill off Quicken like Aggregators. And I think they do. They don't make money from them.

PS By the way, I went back and read the original thread from 2 years ago, and boy do I not remember any of that. Being 70 is part of it, but also I have always been able to dump stuff that no longer mattered to me, so there it is. All of this Chase behavior cleared up for me or it is only the last week that I have noticed it again. I only use Amazon Visa to buy from Amazon. I usually order on weekends and pay it off on Tuesday or Wednesday and done with it by Thursday. The timing must have hidden this behavior from me.

I would just dump Chase if I didn't get that stupid 5% back. I may drop them anyhow. Stupid behavior. Thanks again for pointing this out AGAIN! I'll try to remember it this time.

RobWilk

@SRC54 Lucky You —- I like Chase's website (like Quicken it supports tracking external accounts, but for example PenFed isn't supported and that's my 2 lowest apr credit cards), but it's frustrating how it works with Quicken Simplifi on off-hours. Some mornings I'm up before 7am and it's a problem, and today, for example, it's the weekend — I tried e-mailing customer support way back when, they said they'd ccnsider it or something like that, but maybe I wasn't persistent enough on following up on it. Please consider e-mailing chase through their website.

Don't worry about being 70, I'm 50 (in about a month or so), and I'm not sure if it's the gabapentin I started a year ago, but my memory has gotten awful. Today I am lowering the gabapentin myself (or trying to) - - Some of what I thought was Trigeminal Neuralgia ("face pain") may have been caused by a bacterial sinus infection, and in the last 2 months, I've been treating that at an ENT (VivAer and Balloon Sinuplasty) and now the facial pain seems to be gone - I'm really hoping I can get off gabapentin to see if that's the source of my memory problems.

SRC54

@RobWilk Yeah, I'll probably stick with Chase for now. I did email them and they replied for me to call them. LOL. Not in the mood this weekend. Maybe next week. Phone support from Banks gives me the heebie-jeebies.