Microsoft Money and Quicken: MBNA Woes

Having trouble downloading transactions from your credit card account into Quicken or Microsoft Money? Those holding MBNA credit cards can not currently automatically download transactions into the two biggest personal finance packages and there is no mention of when downloads will resume. Even if you did not sign up with MBNA for your credit card, MBNA may have been administering the account, which means you can't download transactions either.

Thousands of MBNA customers recently found themselves to be Bank of America customers due to a recent merger with MBNA. The press release announcing the merger says that customers remain top priority and will continue to be provided with "higher standards of service and convenience". Both Quicken and Microsoft Money users are waiting for those higher standards of service. Former MBNA customers, who are now Bank America customers, are unable to download transactions as they once could.

The Microsoft Money support site says that Money users will be unable to download automatic updates for MBNA credit card accounts but data can be exported into Money from their credit card Web site. Microsoft then suggests that Money users learn more about the merger by clicking a link the Bank of America FAQ. The Bank of America FAQ is just a bunch of the usual cheerleading resulting from marketing types hoping to reassure customers that nothing will change, but nothing addresses the issue of downloading transactions into Microsoft Money.

I attempted to search Bank of America's site to determine when data downloads into the two largest personal finance software packages would resume, but my search resulted in nothing. At least Quicken 2007 users can use WebConnect to automate transaction downloads, although One Step Updates are preferable.

I enjoyed this particularly eloquent post from a Quicken Google Group which suggests the Bank of America transition affects on Quicken users is "more appropriate for Billy Bob's Savings and Piggy Bank".