Unable to Verify Financial Institution Info

SuzB92 · ‎June 30, 2021

I'm trying to manually import the Webconnect file (.qbo) I downloaded for my Target RedCard (TD Bank USA) but when I go to Banking > Bank Feeds > Import Web Connect File and select the .qbo file, I get an error message "QuickBooks is unable to verify the Financial Institution information for this download.". Help?

Fiat Lux - ASIA · ‎June 30, 2021

Utilize the trial version of an importer app. If the same error persists, the problem is the file.

https://www.moneythumb.com/?ref=110

GlinetteC · ‎June 30, 2021

I've got some steps on how to get rid of the error message, SuzB92.

I suggest following these troubleshooting steps to make sure your transactions get imported.

Select the Banking menu.
Hover over Bank Feeds and select Change Bank Feeds Mode.
In the Bank Feeds section, select Classic mode (Register mode).
Then follow the steps to import the .qbo file.

If you continue to receive the error, please go through the steps listed in this article: Fix Web Connect import errors.

That should do it! Please click the Reply button if there's anything else you need help with. I'm here help you get back to business.

BigRedConsulting · ‎July 16, 2021

What version of QuickBooks are you using? If older than 2019, the import won't work at this point and this is the confusing message you'll get.

JoeUser · ‎March 13, 2022

Why won't this work? If it a formatting issue with the newer .OBO file not matching the format of older .OBO files what are the format changes? I have QB 2009 and we are a non-profit and I can't see spending $300 a year on upgrading this product. I just want to import transactions from the bank.

I downloaded the lastest fidir.txt file from https://quickbooks.intuit.com/learn-support/en-us/help-article/bank-feeds/update-financial-instituti... then manually edited my 2009 version of this fidir.txt just to update one bank to match the .OBO entries in my one bank. This fails in the same way.

There is another .html file in the same directory that has entries per BID, I modified that as well and the import still fails.

I understand the changing file formats across versions, but the program should still work if the file is formatted correctly and it does not.

Fiat Lux - ASIA · ‎March 13, 2022

@JoeUser

Afaik an outdated QBD version doesn't support *.qbo files. Utilize an importer tool as a workaround

https://transactionpro.grsm.io/qbd

https://partners.saasant.com/affiliate/idevaffiliate.php?id=5051_2

Another option, as a non profit located in the US, you can upgrade to QBD 2021 for $78 from Techsoup

https://www.techsoup.org/products/quickbooks-premier-editions-2021-g-41872-

MyHeadHurts · ‎April 09, 2022

I have Quickbooks 2017. I can successfully import .qbo files for AMEX. But the .qbo files for TD Bank result in the message "unable to verify financial institution." Why would .qbo files be able to be imported from one but not the other?

RoseJillB · ‎April 09, 2022

Chiming in on the thread to address your concern with importing Web Connect files into QuickBooks Desktop (QBDT).

Web Connect problems can happen for a variety of reasons. Files from the bank are occasionally incomplete or in the incorrect format. Changes at your bank can also cause problems. Here's how to fix some of the most frequent Web Connect issues.

Select the Banking menu.
Select Change Bank Feeds Mode by hovering over Bank Feeds.
Select Classic mode (Register mode) under the Bank Feeds section.
Then, follow the procedures to import the .qbo file.

If you're still getting the issue, follow the procedures outlined in this article: Fix Web Connect import errors.

Furthermore, you can check out the following articles about adding and matching transactions as well as reconciling your account in QuickBooks Desktop:

You can always hit the Reply button if you need further assistance with your banking transactions. Rest assured that the Community always has your back. Stay safe!

luxnmaininc1 · ‎June 23, 2022

I am using Quickbooks Desktop Pro Plus 2022. And I also bank with TD Bank. I am able to download the last 3 months into the bank feed and code and upload the banking transactions into the check register, but I cannot import a .qbo file with past 18 months banking from 01/01/2021 to 06/23/2022. I do not want to have to put these transcations in manually. Getting Unable to Verify Finanical Institution Info error message when I try to upload the .qbo file manually through File Import feature.

Opened a new company file and started a new company. When I try to do advance feature to setup bank feed Direct Connect feature. I am getting error and these are instructions:

QuickBooksHelpIntuit

Fix OL and OLSU Bank Feeds errors in QuickBooks Desktop

SOLVED•by QuickBooks•QuickBooks Enterprise Suite•16•Updated July 28, 2021

Learn how to fix some of the OL and OLSU Bank Feeds errors in QuickBooks Desktop.

Do you get any of these errors when you use Bank Feeds? Don’t worry, we'll help you fix it.

OLSU-1013 and OLSU-1016
OL-203, OL-205, OL-209, OL-221, OL-231, OL-332, OL-334, OL-392, and OL-232 and OL-249

Note: There are articles that cover specific instances of OL and OLSU errors. We recommend checking these articles for more insights: OLSU-1011, OLSU-1014, OL-202 and OL-206, and OL-301 and OL-393.

What’s causing the problem?

You might get one of the errors if:

There’s a problem with your bank
- You have pending alerts on your online bank account that you need to acknowledge
- Your bank changed their service offering to Web or Direct Connect
- You have an inactive bank account in QuickBooks that has online bankin
- Your bank’s info isn’t updated on the Financial Institutions Directory (FiDir) in QuickBooks
- There might be a problem with their servers
There’s a problem with your Internet connection
There’s a problem with one or more bank accounts in your company file
The file from your bank isn’t compatible with QuickBooks
You’re using an outdated version of Internet Explorer
You’re using an unsupported version of QuickBooks

Important

To make the most of your time, check out these guidelines before you start:

Back up your company file.
Match any pending downloaded transactions.
Ensure you can sign in to your bank’s website outside of QuickBooks, and you don’t have pending alerts.
Ensure you’re connected to the Internet, and your Windows firewall isn’t blocking your connection to QuickBooks.
Ensure you’re using a supported version of QuickBooks. If not, update QuickBooks to the latest release.
Update to the latest version of Internet Explorer.
Check if you get the error in Bank Feeds Classic Mode. If not, this means the file from your bank works best in Classic Mode. If you get the same error, proceed to troubleshoot.

Step 1: Check your Internet security requirements

To secure your data when connecting to your bank, Internet Explorer and QuickBooks uses the TLS 1.2 security protocol.

Here's how to check the TLS settings in Internet Explorer.

Go to Tools ⚙.
Select Internet options.
Select Advanced, and scroll down to the Security section.
See if you have TLS 1.2 checked. If not, select the box to turn it on.
Select OK.
Exit all open applications on your computer.
Restart your computer, then try to download your transactions.

If you still get the error, proceed to the next step.

Step 2: Download bank feed transactions in a test company file

To see if there’s a problem with your bank’s servers, try to download transactions in a test company file.

Open QuickBooks.
Go to the File menu, then select New Company.
Select Express Start or Start Setup.
Set up Bank Feeds for the affected account.
Try to download your transactions.

If you see the error, there might be a problem with your bank. Get help from your bank’s support with a copy of your Bank Feeds logs.

If you don’t see the error, move to the next step.

Step 3: Check if the file from your bank is compatible with QuickBooks

QuickBooks only opens downloaded transactions in a .qbo file extension. If your bank uses a different file extension, QuickBooks can’t open the file.

To see if the problem is with your bank or the file type, try to download transactions directly from your bank’s website.

Sign in to your bank’s website outside of QuickBooks.
Find and download your bank transactions in a .qbo file.
Import your transactions to QuickBooks.

If you still can’t open the .qbo file in QuickBooks, there might be a problem with your bank. Contact your bank’s support for help.

If you can import and view your transactions, go to the next step.

Step 4: Refresh the connection with your bank

Turn off online banking on inactive bank accounts, if you have one. Then refresh the bank connection on the affected account.

First, check if you have inactive bank accounts with online banking.

Go to Company.
Select Chart of Accounts.
Select the Include Inactive box. Look for an inactive account with a lightning bolt (this means the account is set up for online banking).

If you see one, here’s how to turn off online banking. Otherwise, Set up Bank Feeds, then try to download your transactions.

Right-click the inactive account.
Select Edit Account.
Go to the Bank Feed Settings tab.
Select Deactivate All Online Services, then OK.
Select Save & Close.
Close and reopen your company file.
Make sure the lightning bolt is gone.

Important: During set up, hold the Ctrl key each time you select a button, except when entering info. This refreshes the connection with your bank.

If you don’t see the error, there’s a problem with your bank connection. It’s fixed and your transactions have downloaded.

If you still see the error, go to the next step.

Step 5: Create and merge accounts

Check if there’s a problem with your company file. Create a copy of the account, then merge it with the old one. Here’s how.

Go to the Chart of Accounts.
Right-click the affected account, then select Edit Account.
Select and copy the account name.
Enter an asterisk (*) at the end of the account name.
Select the Bank Feeds Settings tab.
Select Deactivate All Online Services, then OK.
Select Save & Close.
Create a new account in the Chart of Accounts. Note: When setting up the account name, paste the text you copied earlier.
Close and reopen the company file.

Merge the accounts.

Go to the Chart of Accounts.
Right-click the account with the asterisk, then select Edit Account.
Remove the asterisk, then select Save & Close.
Select Yes to merge the accounts.
Set up Bank Feeds.
Test if you can download transactions.

If you can’t edit or merge the accounts, you might have a damaged company file. Get in touch with us so we can help.

Otherwise, continue to the next step if you still get the error.

Step 6: Turn off and set up online banking for other accounts

Do you have multiple accounts set up for online banking? Check if the problem comes from one of the accounts.

If an account has trouble connecting to the bank, this can affect other accounts.

Go to the Chart of Accounts, then select the Include Inactive checkbox.
Turn off, then set up online banking for each of the accounts.

If you can’t turn off Bank Feeds for any of them, contact us so we can help.

If the issue remains unresolved:

Reach out to your bank's support with a copy of your Bank Feeds log.
Ask the bank representative to escalate the case via our OFX Connectivity page for resolution. Take note of your case/ticket #.

Note: If you're having trouble reaching out to your bank, we’re here to help.

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Jen_D · ‎June 23, 2022

Thanks for reaching out to us, @luxnmaininc1.

I want to make sure you're able to get your bank transactions in your company file.

This Unable to Verify Financial Institution Info error is caused by incorrect information in the .qbo file. The bank will need to be contacted to correct this issue. In the meantime, we do have a workaround that will allow you to import the file.

Follow these steps:

Log-in to TD Bank website to download the file (select qbo for QB online).
Select the date range and file type for Quicken and Quickbooks.
Open Quickbooks then click File menu > Utilities > Import > Webconnect files.
Select the QBO file to download.
Open .qbo file in a notepad.
Change the FID & BID to 55584 then save the file.
Import the file again to QB.

If you're still getting the same error, I recommend that you contact our Support Team. This way we can report this TD Bank issue to our engineers.

Here's how to contact us:

Open QuickBooks and click the Help menu.
Select QuickBooks Desktop Help.
On the pop-up screen select Contact us.
Click the Search for Something else button then type your concern in the Ask us anything box.
Hit Search then scroll down to get your contact options.

Refer to this article to learn more about our contact options and support availability: Contact QuickBooks Desktop support

Come back here anytime for other concerns about using the bank features in QuickBooks. I'll be right here if you need other help with the program too. Have a good one.

dallasclement · ‎July 01, 2022

dallasclement · ‎July 01, 2022

Thank you for the great tips!! This helped me out. In my case I have several accounts with Capital One. I was able to do a QBO import for my business accounts but not my personal accounts. A quick comparison of the QBO files revealed a difference in the BID. The personal QBO which was not importing contained this value => <INTU.BID>1236</INTU.BID>. However, the business QBO which was working contained this value => <FID>1001</FID></FI><INTU.BID>17410</INTU.BID>. After updating the personal QBO BID to the value of 17410, it imported just fine! Yay!!!

I have to wonder if this problem is really on Quickbooks end. Perhaps they are not fully synchronized with all the BID's from these institutions.

JenoP · ‎July 01, 2022

Thanks for always getting back here and keeping us updated, dallasclement.

I'm so happy that everything worked out well and that you're able to finally able to import your banking transactions.

Please know that each type of account has its own unique BID in the Banking Feeds. This is the reason why you're seeing different BIDs between the personal and business accounts. Aside from that, not all types of accounts are supported for Online Banking. This can be the reason why the BID for the personal account is not part of the list.

Let me also share these articles and links for additional details and guidance when importing QBO files:

Let me know if that answers your questions about the different BIDS. You can always visit us again and post more questions if you need anything else.

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