Microsoft Money - Online Services

KeithEssex_2

Does anyone have any experience of updating Microsoft Money via the internet with the transaction details from their Banks & Building Societies ?

Also, is there a URL anywhere that lists which institutions support which format ?

S0litaire

I've pulled my Account history in CSV and Microsoft Money format.

It's easy to do. but if you have not been doing it since you opened the account it can be a pain to get it to balance within the software. In my personal experience you usually end up a few £100's out...

But give it a go if you have MS Money. you've nothing to loose.

KeithEssex_2

S0litaire wrote: »

I've pulled my Account history in CSV and Microsoft Money format.

It's easy to do. but if you have not been doing it since you opened the account it can be a pain to get it to balance within the software. In my personal experience you usually end up a few £100's out...

But give it a go if you have MS Money. you've nothing to loose.

Thanks - will find out if the HSBC and Halifax support the interface.

KeithEssex_2

Found this list via Google:

-Abbey (QIF, but not Abbey Business)
-Alliance and Leicester (OFX and QIF)
-Barclays (OFX)
-Clydesdale (QIF)
-Coutts & Co (OFX and QIF)
-First Direct (QIF)
-Halifax (OFX and QIF)
-HSBC (OFX)
-Lloyds (QIF)
-NatWest(OFX)
-Nationwide (OFX)
-Royal Bank of Scotland (OFX and QIF)
-Tesco (OFX and QIF)
-Yorkshire (QIF)

It would seem that OFX is superior to QIF.

KeithEssex_2

I also found this :-

Background Banking (also known as 2-Way or Direct banking)

With Background banking, Money will communicate directly with a FI’s computer system over the Internet, without you having to go to the FI’s website. This is more advanced than Web banking (see below) as Money is able to request and receive transaction statements, as well as issue requests to transfer funds or pay bills, if supported by the FI. Versions of Money from 2002 onwards are able to perform these tasks unattended in the background to constantly keep your accounts up to date. To set up Background banking, you need to enter the online banking credentials supplied by your bank and tell Money how often you want to sign in.

• Learn more about using Background banking in Money

Web Banking (also known as 1-Way banking)

With Web banking, you must use a FI’s website. This is done by navigating to your bank’s website, either from within Money or using your preferred browser, entering your log on information (provided by your bank when you registered for online banking), and finding the option to download statements. Once you have found this option, you may be asked to specify a date range for your statement and the file format you wish to download the statement in (formats explained below). The FI will then attempt to send the required statement to your browser but Money will intercept it and import it. If your Money file is not open at this time, Money will store the statement as a temporary file and import it when you next open Money.

Money supports up to three standards for the 1 way transfer of transactional information:

• OFX - This is the latest and most advanced standard and is supported by Money 98 onwards. One downloaded file can contain transactions for several accounts. Each transaction has a unique identifier that prevents several instances of the same transaction appearing in your Money file. Some FIs may call this “Money 98 or later format”. Both Background and Web banking use the OFX format.

• OFC - This format is similar in many ways to OFX and is supported by versions of Money up to 2004. It also supports unique transaction identifiers, but should contain only one account per file. Some FIs may call this “Money 97 format”. The OFC format can only be used by Web banking.

• QIF - This format was developed several years before OFC and OFX and is supported by all versions of Money. One advantage of this format is that it can be used for the import and export of data, to and from Money. A big disadvantage, however, is that each transaction in the file is not uniquely identified, so if the same transaction appears in each of three statement files that you download over the course of several days, it will appear three times in your Money file, which if not detected will lead to incorrect balances. Some FIs may call this “Quicken and Money format”.

• More information on using Web banking

• See your bank’s level of support for Money

S0litaire

Think the 2 way banking was for the US version of Money. Or there was a reason it's no longer working in the UK version.

I've not used Money in ages (switched away from ALL Microsoft products 6 months ago).

mr_fishbulb

Most of the banks I've been with support download to Money (you click on the download button when you are on the bank's online banking site and it opens up in MS Money). I know this works with A&L, HSBC, and Halifax.

ICICI has an option to do it, but the results always come up wrong in MS Money.

Egg Money credit card doesn't have the option that I can see.

Nationwide has the option for background banking - from within MS Money you can set up the account so you click the update button and MS Money contacts Nationwide to get your latest details.

KeithEssex_2

mr_fishbulb wrote: »

Most of the banks I've been with support download to Money (you click on the download button when you are on the bank's online banking site and it opens up in MS Money). I know this works with A&L, HSBC, and Halifax.

ICICI has an option to do it, but the results always come up wrong in MS Money.

Egg Money credit card doesn't have the option that I can see.

Nationwide has the option for background banking - from within MS Money you can set up the account so you click the update button and MS Money contacts Nationwide to get your latest details.

Thanks for that :T - I have both HSBC and Halifax and that will really save some time updating these accounts.

munk

I think the only bank that supports automatic updates in MS Money is Nationwide iirc?

Otherwise as mentioned above just download your statements in OFX or QIF (OFX is preferable because it contains more information like account numbers so money can work out which account to import it into without asking you (provided you set the account number in 'account settings')).

I would say just keep a keen eye on what it imports though, don't just go through pressing 'alt-p' willy nilly to accept what has been imported - quite often money tries to get smart and adjusts dates to what it thinks is correct so you end up with your balance out of synch.

Easiest way to do that if you don't want to pore over every single transaction is just to check the balance in money matches the balance in your online account say at the end of each month.

KeithEssex_2

munk wrote: »

I think the only bank that supports automatic updates in MS Money is Nationwide iirc?

Otherwise as mentioned above just download your statements in OFX or QIF (OFX is preferable because it contains more information like account numbers so money can work out which account to import it into without asking you (provided you set the account number in 'account settings')).

I would say just keep a keen eye on what it imports though, don't just go through pressing 'alt-p' willy nilly to accept what has been imported - quite often money tries to get smart and adjusts dates to what it thinks is correct so you end up with your balance out of synch.

Easiest way to do that if you don't want to pore over every single transaction is just to check the balance in money matches the balance in your online account say at the end of each month.

Results of my testing so far :-

* HSBC seems to have a good OFX interface.
* Lloyds TSB seem to have an ok QIF interface.

However I couldn't seem to find the HALIFAX option to download transaction details. Same for BM, YBS and ING.

If anyone knows that you can download for these guys I would be grateful to hear how to go about it.

p.s. Waiting for my Nationwide account details in the post but looking forward to their support for the product !

Thanks ....

mr_fishbulb

KeithEssex wrote: »

However I couldn't seem to find the HALIFAX option to download transaction details. Same for BM, YBS and ING.

If anyone knows that you can download for these guys I would be grateful to hear how to go about it.

For Halifax you need to sign up to paperless statements and you get a downloadable one each month. You can't download the data whenever you want.