What’s new about QuickBooks’s connection to my financial institution?
QuickBooks now connects to selected banks using OAuth (open standard for authentication) to more easy access to your financial accounts. It is faster and more reliable. This means fewer sync errors and your account transactions stay up to date in QuickBooks.
You no longer have to give us your bank username and password after initial setup. Instead, you give permission at your Financial institution(FI), then your bank sends us a token that we use to access your account. After that, we can still securely access your account even if you change your password.
Which of my banks are moving to this new connection?
We are working with individual banks to change the way we connect to them. You will see only some of your banks offering this new connection (at least for now). These are Capital One, Chase Bank, Wells Fargo, Bank of America, and Citi. As we have exact dates and timelines available for each FI, we will update here with more information. We are not looking to stop with just these FI's so stay tuned!
What do I need to do?
When selecting the linked account card, you will see messages in QuickBooks to update your connection. Follow the instructions to update. Example:
If you are linking a new account that is eligible for this new connection, just link it normally.
Why do I have to sign in to my bank to do this?
This new connection is an agreement between Intuit and your bank to give us your data directly. To do this, your FI needs you to sign in to their site and give permission to allow this new connection. Once you give them permission, we get your data into QuickBooks.
Can anybody that has access to the Bank website setup the new OAuth connection?
Some Banks or FI's have restrictions on who can establish this new OAuth connection. The primary user for the bank's website can always setup the connection but sometimes delegate or secondary users can not establish the connection. Learn more.
Is there a deadline to update my existing connection?
It depends on which bank you are updating. Each bank gives us a window of time to migrate customers over to the new connection. Usually, this lasts 31 days to give our customers enough time and warning to update their connections.
Reminder: Make sure to update your connections before the deadlines, or your accounts won’t be able to keep syncing in QuickBooks.
Can I update my connection from the QuickBooks Online desktop App?
While updating in the desktop app may work for a couple of the FI’s, we suggest you go through the update process from a supported browser (Chrome, Firefox, Safari, Microsoft Edge). In most cases, the desktop app will point you to a browser.
Why is there a deadline? Why can’t I stay on the old connection?
It’s more efficient for both the banks and their customers (you!) to switch to this newer, improved experience instead of keeping two different types of connections
How much historical data does the new connection bring in?
In the past, the default was always 90 days of historical transactions. The new connection type will vary by FI, with the range between 30 days and 2 years. If you need more than what's available for your FI, learn how.