Fidelity - Extra transactions; "Redemption From Core"
Simplifi has a major transaction import problem now that accounts have been recently migrated to "Fidelity-Investments & Retirement". Quicken in the past has resolved this in other products but the simplifi team did not resolve it. This causes many "extra" transactions to import which should be suppressed by Simplifi. Simplifi should suppress unnecessary Core Purchase and Redemption Transactions from displaying.
To fix this, Simplifi needs to resolve the FDIC core cash position in Simplifi. An FDIC core cash position should be treated as Cash instead of as a security. This will suppress additional end of day net activity (Purchase and Redemption of FDIC Core) which displays daily for accounts that have an FDIC core cash holding.
Fix this urgently and confirm back. Thank you
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I want to see a fix for this too. With the previous Fidelity connection everything imported correctly, and I didn't have so many of "Redemption From Core Account Fidelity Government Money Market (spaxx) Morning Trade (cash)" or "Purchase Into Core Account Fidelity Government Money Market (spaxx) (cash)".
For each transaction that is made, two of this is made, and next they you'll see one of this again randomly. Balance still the same but I don't see these types of transaction in the Fidelity website either.
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@JTJG & @SGranada, thanks for posting!
To clarify, are you referring to Investment Portfolio Holdings or Investment Transactions? Also, are you seeing a balance discrepancy in either the Accounts List or the Investments Portfolio section for the account in question? How exactly does Quicken Simplifi differ when compared to Fidelity's website?
Please let us know so we can best assist!
-Coach Natalie
-Coach Natalie
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We're seeing this also. We have Fidelity Checking and Savings accounts (money management) that behave this way, and now we're seeing these core settlement transactions showing up in those accounts. It needs to be fixed. Thanks!
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@Coach Natalie The accounts are in the spending and saving products in Fidelity. They don't fall under the Investment section in Simplifi or in the Fidelity website. This started happening when the new connection was set up, at first there was a balance discrepancy, but it seems now that the balance matches what's on the account. In the Fidelity website there is none of the Redemption or Purchase into account transactions, they only appear in Simplifi.
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Also seeing it for every transaction against my fidelity checking. I get two transactions one for the debit and then one for moving the money out of the core position to pay for the debit. This never happended with the previous transactions for Fidelity. Just need to remove it as it is an extraneous transaction that does not appear in the Fidelity transaction list when you look at activity on the fidelity website.
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Hey everyone, I'd like to take a look at escalating this and need the following info from each of you to be able to do so:
- Confirm that you have migrated your Fidelity accounts to the new "Fidelity Inv & Retirement" connection option.
- The name of the account the transactions reside in, as it appears in Quicken Simplifi.
- A screenshot of the Transaction Detail window for 3-4 example transactions that shows the Date, Payee, Amount, and "Appears on your statement as…" info.
- A screenshot of the transaction register in Quicken Simplifi that includes the example transactions (such as what @SGranada provided above).
- A screenshot of your transaction activity from the bank's website that covers the same time span as the screenshots/examples from Quicken Simplifi so we can see that those transactions do not exist/are not listed.
Please also submit your logs by using the 'Send Feedback' option:
- Log into the Quicken Simplifi Web App.
- Select Profile from the left-hand navigation bar.
- With the Profile menu open, hold down the Option key for Mac or the Alt key for Windows, and then click Send Feedback.
- Leave all boxes checked, add a brief description of the issue, and then click Send.
Thanks!
-Coach Natalie
-Coach Natalie
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I have sent you the information via private message.
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Hello @Coach Natalie - Thank you for escalating this. This is an urgent issue that many users are dealing with. You can see the issues here and in other threads, as well as on reddit. We have tried our best to work with Quicken Customer Support and they have apparently escalated the problem over a week ago. Each time I talk to a rep about it, they say they will call back the next day, and they never do. I cant use my Simplifi system until this issue is resolved since the registers are cluttered now and I don't want to waste more time reviewing and reclassing transactions. The register is including the redundant background transactions. These are checking accounts.
I do believe that users who have experienced issues and been working hard to communicate them, like for example @SGranada, should get a year of free service once this is resolved. We can 't be the ones testing and providing quality control here. It takes serious time.
In my case, you can access all of my log files and screenshots under Quicken Customer Support Ticket ID: 10680343. This ticket was escalated but Quicken Customer Care over a week ago. We have not heard back. Please share this feedback with Senior Management. And please help us know the timeline for resolution so we can make plans and decisions. Much appreciated.
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@SGranada, thank you for providing the requested information! I have gone ahead and gotten this escalated and will be sure to let you know as soon as an update is received.
For anyone else experiencing this issue in Quicken Simplifi, I'd like to get some additional examples added to the ticket. To do so, please provide the following information:
- Confirm that you have migrated your Fidelity accounts to the new "Fidelity Inv & Retirement" connection option.
- The name of the account the transactions reside in, as it appears in Quicken Simplifi.
- A screenshot of the Transaction Detail window for 3-4 example transactions that shows the Date, Payee, Amount, and "Appears on your statement as…" info.
- A screenshot of the transaction register in Quicken Simplifi that includes the example transactions (such as what @SGranada provided above).
- A screenshot of your transaction activity from the bank's website that covers the same time span as the screenshots/examples from Quicken Simplifi so we can see that those transactions do not exist/are not listed.
Please also submit your logs by using the 'Send Feedback' option:
- Log into the Quicken Simplifi Web App.
- Select Profile from the left-hand navigation bar.
- With the Profile menu open, hold down the Option key for Mac or the Alt key for Windows, and then click Send Feedback.
- Leave all boxes checked, add a brief description of the issue, and then click Send.
@JTJG, it doesn't look like your case has been escalated, so feel free to also provide the requested details here and I can add you to the ticket. Otherwise, you can reach back out to our Support Team directly and reference the ticket number below so they can add you to the ticket instead.
-Coach Natalie
CTP-8534
-Coach Natalie
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@Coach Natalie Thank you. I keep trying to contact Customer Support via the call-back request, but no call back from Quicken Customer Support. I've tried more than 5 times over two days. So, I dont know what to do. This is a pay service but no responses from support. You mentioned here that my case was not escalated but customer service said it had been. Please contact them and escalate my case. Quicken Customer Support Ticket ID: 10680343
Please escalate the technical issue and also the customer support delay and lack of response.
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@JTJG, I can't have Chat/Phone Support escalate a case for you, but I can add you to the ticket I submitted if you'd like to provide the requested info here in the Community. 🙂
-Coach Natalie
-Coach Natalie
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Yes. This is a frustrating problem. There are SO MANY transactions reported just for ONE dividend and it's reinvestment. This was not an issue in Mint at all. I could understand some hiccups, but this is quite ugly. The more time goes, the more these superfluous transactions are accumulating.
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I want to mention that I started deleting them every time I see them. Don’t know what issues it can bring but so far nothing has happen. Account syncs and doesn’t bring them back, only the new ones which then I delete. Balance seems to be one thing that doesn’t update in real time.
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Hey everyone, thanks for your patience as this was being researched!
I'm afraid I don't have good news. 😞 As mentioned in our support article here, there are some issues present with the API connection that we're working to address with Fidelity, and it sounds like this is one of them, so there's nothing further that can be done from our end at this time. We are asking that users contact Fidelity directly to help make them aware of the issue.
We apologize for being unable to find a resolution for this.
-Coach Natalie
-Coach Natalie
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Simplifi is not usable as long as this is going on. I deleted the "Redemption from core account" transactions in Simplifi and they come back the next day it synchs. This is not going away Coach Natalie…
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Recently Simplifi started to use OAuth for Fidelity accounts connection. I noticed in the past my Fidelity Bloom (a simplified brokerage account that default to money market fund) account would simply show up as a checking account and not display any extra transaction for automatic "Redemption From Core Account" and "Purchase Into Core Account" whenever there's a debit or credit on the account. Now each credit/debit would pull an extra transaction. I can see those transaction on Fidelity website too, but only when "View settlements in money market funds" is toggled on, and it's off by default.
Here's an example:
Dec-29-2023 PURCHASE INTO CORE ACCOUNT FIDELITY GOVERNMENT MONEY MARKET (SPAXX) (Cash) -$4.16
Dec-29-2023 DIVIDEND RECEIVED FIDELITY GOVERNMENT MONEY MARKET (SPAXX) (Cash) +$4.16
Dec-13-2023 REDEMPTION FROM CORE ACCOUNT FIDELITY GOVERNMENT MONEY MARKET (SPAXX) (Cash) +$86.62
Dec-13-2023 DEBIT CARD PURCHASE CASH APP*REDACTED (Cash) -$86.62Is there anything Simplifi plan to do to avoid showing those "settlements in money market funds"? I found it difficult to categorize those transactions and they create quite some confusion.
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@yb_, thanks for posting to the Community regarding this issue!
As you can see from the discussion above, this issue has already been escalated, and our team has determined that Fidelity is providing the info this way so we can't do anything further from our end. At this point, we suggest contacting the bank directly to help make them aware of the issue.
Sorry for not having better news, but I hope this helps!
-Coach Natalie
-Coach Natalie
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@yb_ is correct. I wasn't aware there was a section called "View settlements in money market funds" in Fidelity's website. These transactions are there. I guess these new API is looking at those. I do want to mention that deleting them from Simplifi has cause me no trouble in the past week, I will select them and just hit delete. Every time it syncs it doesn't bring them back, at least not for me.
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Just adding my voice to this one - having the same issue with the Cash Management Account (simple debit and credit transactions, like checking and savings accounts). Manually hunting down and deleting the sweep transactions every day solves the problems for a few hours, until the next back office sweep into the FDIC insured banks that Fidelity is partnering with. Thanks to the users here for flagging this.
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Is there a way to automatically mark these as excluded from spending plans and reports?
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Quicken Support (Simplifi) need to resolve this with a technical solution. The solution is to give Simplifi clients the ability to suppress these background transactions. Users specify the account type (for example checking) and could then toggle to suppress the redundant settlement transactions. But this is NOT a technical issue. This is a commercial issue between Quicken/Plaid and Fidelity. Fidelity uses a API that they prefer and see as more secure and better. This system competes with Plaid. While this commercial issue plays out, Simplifi clients suffer as our registers are contaminated with these redundant transactions. Simplifi needs to understand that clients are far more likely to leave Simplifi than they are to leave Fidelity. A technical solution should have been implemented long ago and before the change to the new API. I have not used Simplifi since the change and am searching for other options while I monitor the action and communication from Simplifi. My case has been escalated but I hear nothing back.
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I think that the ability to automatically exclude and hide these Fidelity core transactions is the way to go. And, this capability is already a Feature Request under the Transaction Rules tag:
It deserves more upvotes! 😉
Thank you Natalie and SGranada for following through to get this in front of the Devs.
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I’ve begun transitioning from a more traditional checking account to a Fidelity Cash Management account and am experiencing this as well. It has proven difficult in linking transactions and I am concerned that these “duplicate” entries aren’t reflecting correctly in my cash flows, making Simplifi near unusable for me.
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What's the specific feature request you're referring to?
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This one. We generally just need to option to hide based on transaction keyword or category.
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@Coach Natalie I am having the same issue - 'Purchase Into Core Account Fdic Insured Deposit At Jp Morgan Bk…" and "Redemption From Core Account Fdic Insured Deposit At Jp Morgan Bk…"
I have a Rule set up to force these into "Uncategorized", but I still have to manually go in and check the 2 boxes "Exclude from Spending Plan" and "Exclude from Reports".
My product recommendation is in Payees & Rules to allow the 2 check boxes to also be included as part of the rule. That way all of these will automatically be excluded!
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Alternatively, you can set up the category to be Transfer (no linked account) - then the transactions will be excluded from the spending plan and reports automatically.
Also, there is a feature request to allow rules to exclude transactions. Vote for it below. The more votes, the more likely the request will be considered.
Simplifi User Since Nov 2023
Minter 2014-2023
Questionable Excel before 2014 to present
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@Coach Natalie Is there any update to this? I just switched over from Mint and this issue is making Simplifi unusable. It's very disheartening to see this has been going on for months. As others have said, I'm far more likely to just get my money back from Quicken than I am to stop using the bank I've been using for 10+ years.
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Question for all having trouble with Fidelity downloads. Have you tried contacting Fidelity to fix on their end? Simplifi's article has Fidelity's number and support site link.
I noticed that other aggregators are having issues with Fidelity too, so the issues are not necessarily unique to Simplifi.
Simplifi User Since Nov 2023
Minter 2014-2023
Questionable Excel before 2014 to present
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I have a rule where the "Redemption from core" description is being marked as a Transfer, which hides it from the spending plan and reports. It's working 90% of the time, although I use my CMA account only a dozen times a month. I wish I didn't see these transactions at all though.
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