QuickBooks supports two connection methods, Direct Connect and Web Connect. Some banks offer both services while some offer just one.
- Direct Connect: Allows QuickBooks to send information to your FI and download data directly from it. This method requires the use of a bank-provided PIN or password. After you set up the account, you can securely download electronic statements to your Bank Feeds. You can also use other types of online services (online vendor payment, online transfer between accounts, and others) supported by your FI.
- Web Connect: Only allows receiving of data through a downloaded file via a web browser. If you set up using Web Connect, you won't be able to send payments to your vendors or transfer funds to another account from within the program.