ALERT - RESOLVED Error: QuickBooks is unable to verify the Financial Institution information for this download, when importing a webconnect file from Chase

Hi @Anonymous,

We are still working with Chase to make sure that this has been resolved to all affected customers. They gave us update last Feb 7, 2019, since then, we have been receiving confirmation for some that it is already working.

Please continue to bear until we have this completely resolved with Chase. Thanks!

This is still not resolved! 

I've just started using QB desktop for Mac and the Chase file is still not imported correctly.

File seems to be incomplete and doesn't contain latest transactions.
Please advise. It's unacceptable to not be able to use one of the most important features of this application.

Using the latest update for Mac Desktop QB.
And please stop with these canned replies! You only make the issue more aggravating.

I am getting the same error after TD Bank combined there personal and business online banking.  I went through all of the steps and re-established the bank feed.  Now when trying to import or download transactions I receive this error.

Hi there, @Gary9284.

I'm here to help share some information about importing or downloading transactions with TD Bank.

I've checked and verified that we received reports with other users getting the same performance issues when trying to import/download transactions with TD Bank. We've already submitted a ticket about this issue and our banking team is currently working with TD Bank for an immediate fix.

As of now, I suggest getting in touch with our QuickBooks Support Team for you to be added to the list of affected users and receive an email notification with the latest updates.

For additional information about importing bank transactions, you may check these articles:

• How to upload more than 90 days of bank transactions
• How to import bank transactions using Excel CSV files

Please don't hesitate to add a post/comment below if you have any other banking concerns, I'm always here to help you!

For myself, it seems that Web Connect works now with Chase Business. Last couple of downloads/imports worked as expected.

Thanks for keeping us updated, rovision.

I'm happy that your Online Banking for Chase is working properly. We truly appreciate you for letting us know how it works.

Let me share this article too on how to automatically download bank transactions: Downloading bank transactions automatically (bank feeds).

I'm only a post away if I can be of additional assistance. I wish you a wonderful rest of the week.

Thanks for the information but unfortunately none of this has solved the issue.  I have now gone months without being able to download my banking transactions.  I do not use Quickbooks Online but did upgrade from Desktop Pro 2016 to 2019.  I have disabled and re-established the bank feeds numerous times but with no luck.

The error message received is - Quickbooks does not recognize the financial institution name.   I receive the same error message when I import web connect .qbo files.  

I verified and rebuilt my company file with no luck - error 196 with my bank accounts (checking and savings with TD Bank). 

Any help with this is greatly appreciated.

Thanks!

Good day, Gary9284.

Thanks for bringing this issue to our attention. Let's work together and go through your concern one at a time to resolve this. 

The error code that you're getting usually occurs if the .qbo file provided by your Financial Institution contains invalid information or formatting. This typically means QuickBooks can't read the data from your WebConnect (.qbo) file.

Before performing some steps, be sure to create a backup copy of your company. Then follow every solution to fix the issue provided in this article: Troubleshoot Bank Feeds Web Connect import issues and errors.

These resources should help get you import bank transactions and fix the error. Let me know how this turns out. I'm only a comment away.

Here is the work around to use for the time being to bring TD Bank transactions into QuickBooks Desktop and bypass that error:

1. Open File Explorer and locate the QBO file you saved from TD Bank.

Note: QBO is the old file type that can be used to import into QuickBooks Desktop
2. Right click on the QBO file and select open with Notepad

Note: Select more apps if you don't see Notepad. Once opened, maximize the window and turn on word wrap
4. Locate FID and  BID  in notepad, then change the numbers next to them to 55584 then save the file (You can use Cntrl + f to search easier, use the up or down bubble if it says it didn't find anything)
5. After saved, go to QuickBooks Desktop and try importing again.

This issue seems to have resurfaced as of 06/16/20

I am having this same problem from Umpqua Bank

Hello there, WaterskiCowboy.

As my colleague JaneD shared above, the error code occurs if the .qbo file provided by your Umpqua Bank contains invalid formatting or information. With that being said, QuickBooks can't properly read the data from your WebConnect file.

To fix this issue, let's download the file again directly from Umpqua and make sure that the information and the mapping of the fields are correct. 

Once done, let's import the .qbo file again.

If you want to download the transactions from your bank, let's double-check that it is a .qbo file. Then, try importing again.

If you still see an error, you can follow Step 3 in this article: Review notifications from your bank.

When you're ready to add and match the transactions, you can check this article as your guide: Add and match Bank Feed transactions in QuickBooks Desktop.

I'm just around if you needed help. Have a good one!

This error is happening with Pinnacle and with Towne Bank as well.  

Any idea when this will be resolved. 

I really don't want to hand enter all these transactions

Hello, @Aneal.

When connecting your bank, you'd want to make sure that your QuickBooks is updated to the latest version. Also, there are two possible reasons why you're being prompted with the error issue.

• The Bank ID is not correctly entered in QuickBooks.
• QuickBooks is not able to recognize your bank's ID code.

To resolve this error, let's perform the following troubleshooting steps:

1. Create a backup of your company file in QuickBooks.
2. Download QuickBooks Desktop latest release version.
3. Update your Internet Explorer browser to the latest version.
4. Select the correct bank account.
5. Switch between banking modes.

Also, you can try connecting your Pinnacle and Towne Bank account using a sample QuickBooks company file. Here's how:

1. Open QuickBooks.
2. Go to the File menu.
3. Select a New Company.
4. Pick Express Start.
5. Add your bank account to the Chart of Accounts in the newly created test company.
6. Set up the record for Bank Feeds.
7. Now You can download or import the.QBO.

If you're able to successfully connect your bank, you'd want to run the Rebuild Data tool. It helps resolve any possible data damage in your company file that may have caused the error. You can refer to this article for more detailed instructions: Fix data damage on your QuickBooks Desktop company file.

Keep me posted if you have other questions about connecting your bank account with QuickBooks. I'm always here to help.

i am trying to dowload the file with TD Bank and i am getting an error of unable to verifty the Financial Institution for this download.

Hi lalmanzar,

I can see that there are a lot of answers and references in the previous answers, so I'll be direct to the point to save your time.

If you've already tried the steps in the article for fixing web connect errors and it's the same thing, it would be best to contact our Support team. That way, they can start a screen-sharing session to get to see your setup.

Feel free to go back to this thread if you have more questions.

Having the same issue with TD Bank all of a sudden.  When I try to import the qbo file QB error message reads "Unable to verify financial institution..."