Cathay Bank doesn't sync correctly for Mortgage

Stella

After I connect my Cathay Bank online login to my Simplifi account, Cathay Bank's mortgage account is showing up in my account "Liabilities- Home" tab but the balance is always 0. I reconnected many times but doesn't work. Looks like Simplifi is not using Plaid to connect to Cathay Bank, so it has an issue. How to resolve this?

Coach Jon

Hello @Stella,

Thanks for reaching out! Usually with balance discrepancies in Quicken Simplifi, Pending Transactions are the reason. However, since this is a connected liability account, you will not see transactions downloaded into the account. https://help.simplifimoney.com/en/articles/4593261-loan-liability-tracking-in-quicken-simplifi

In your case, I would ask what instance you are currently using to connect to your bank in Quicken Simplifi and to try the other instances to see if they work better:

Additionally, to help clarify, has this issue just started happening with an existing account or is this the first time you have connected this account in Quicken Simplifi? Let us know!

Thanks,

Coach Jon

Stella

Hi, I'm not talking about pending transactions is 0. I'm talking about the entire account showing 0. Something must be wrong in your sync mode with Cathay Bank. I have a large unpaid mortgage balance so the liability must have a number instead of 0. I just tried it again, please see my screenshot. (And it's very weird that each time I log in to Simplifi it asks for my Cathay Bank two-factor auth code- "Enter the Secure Access Code", usually this is only asked once). So basi

cally everything shows 0 in this account. As a comparison, I also screenshot the same Cathay Bank Mortgage in my Monarch account. It syncs correctly and never asks for the "Secure Access Code" for Cathay Bank each time I log in to the app.

Coach Jon

Hello @Stella,

Thanks for the reply. I would suggest you delete the Financial Institution in Quicken Simplifi, and then add it again, by trying all of the Cathay bank options I provided previously to see if any of those instances work for you. https://help.simplifimoney.com/en/articles/3453929-how-to-delete-bank-accounts-in-quicken-simplifi#h_6e19d62b11

Thank You,

Coach Jon

Stella

https://community.simplifimoney.com/discussion/comment/32336#Comment_32336

I’ve deleted and re-added it many times. Nothing works. It forever shows 0 once synced. How to let Simplifi fix the bug with Cathay Bank?

Coach Jon

Hello @Stella,

I checked your connection attempts on our end and I am not seeing that any additional Cathay Bank options have been attempted. We do need all of the options to be tried before we can proceed, please.

Thanks,

Coach Jon

Stella

Hi I just delete Cathay Bank completely and re-added it again. It still doesn't sync any number into the account at all. Always showing zero.

Coach Jon

Hello @Stella,

Thanks for trying that for us! Alright to get this escalated we will need the following information:

1. The name of the account in question, as it appears in Quicken Simplifi.
2. The name of the account in question, as it appears on the bank's website.
3. A fresh screenshot of the balance for the account in Quicken Simplifi.
4. A screenshot of the balance displayed on the bank's website for a comparison.

Thank You,

Coach Jon

Stella

Here is the information you requested:

1. The name of the account in question, as it appears in Quicken Simplifi: MORTGAGE
2. The name of the account in question, as it appears on the bank's website: MORTGAGE **-100
3. A fresh screenshot of the balance for the account in Quicken Simplifi: I gray out my other account's information on the side.

4. A screenshot of the balance displayed on the bank's website for a comparison:

I think Simpifi picks up the wrong data for the mortgage balance at Cathay Bank. Because it is a liability account, it should pick up the number in the "Current Balance" column, which is $395,644.08 in this case. But instead, it picks up the number "$0" in the Available Balance column. (Cathay Bank should not show the "available balance" anyway for a Mortgage account.)[removed - relevancy]

Coach Natalie

@Stella, thank you for providing the requested information!

We have gone ahead and gotten this escalated and will let you know when we hear back.

-Coach Natalie

EWC-10937942

Stella

Thank you! Look forward to have this bank connection be to fixed soon.

Coach Natalie

@Stella, we heard back from our service provider on this and they'd like you to give this another try to see if the issue is resolved. If refreshing the account doesn't bring in the correct balance, I'd suggest deleting and re-adding it.

Please let us know how it goes!

-Coach Natalie

Stella

Hi I deleted it and re-added the account and it still doesn't work. Still shows 0.

Coach Natalie

@Stella, thanks for giving that a try and posting back, though I'm sorry to hear that the trouble persists!

I went ahead and resubmitted the ticket and will let you know when I hear back again.

-Coach Natalie

Stella

https://community.simplifimoney.com/discussion/comment/33004#Comment_33004

Thank you. I think the 3rd-party bank sync app didn't realize that they captured the wrong info. As I mentioned previously, it should pick up the number in the "Current Balance" column in my Cathay Bank mortgage account, which is $395,644.08 in this case. But instead, it picks up the number "$0" in the "Available Balance" column in my Cathay Bank mortgage account. They need to fix the root cause of the problem, not by simply re-establishing the connection. Or it will show the same wrong info on the user's end again. Please let them know!

Coach Natalie

@Stella, thanks!

They think they have a fix implemented for this — can you give it another try and let us know how it goes, please? 🤞

-Coach Natalie

Stella

After I deleted the connection and reconnect to the mortgage account, it finally syncs correctly this time!! Please let them know that they captured the correct balance information with Cathay Bank now. Thank you so much!!

Coach Natalie

@Stella, woohoo!

-Coach Natalie