Truist and Direct Connect

[John Pollard]

[Caveat: I have never been a customer of BB&T or SunTrust or Truist - and I have no inside information on the Truist problems. What follows is just my interpretation of the current Truist situation.]

I believe that Truist is the name of the holding company that was formed from the merger of BB&T and SunTrust Bank. As far as I can tell, both BB&T and SunTrust offered Direct Connect downloads.

Many ex-BB&T and SunTrust users have been complaining about the lack of Direct Connect support from Truist.

My guess is that Truist is never going to offer Direct Connect: I believe they intend to offer Express Web Connect+ (EWC+) instead. Note, that Truist is a member of the Financial Data Exchange (FDX). See: https://groups.google.com/g/alt.comp.software.financial.quicken/c/MPaZDi1Grog

Here's a recent discussion in the Quicken Community that contains some info supplied by Truist: https://community.quicken.com/discussion/7904088/directconnect-support-with-truist.

The wording of the Truist info in that discussion suggests to me that what Truist has done is to implement the new FDX API's and is now waiting for Intuit and Quicken to successfully employ the output of those API's to deliver EWC+ to Quicken users. I think Quicken Truist users are likely in pretty much the same boat as Quicken Schwab users.

I believe the implementation of FDX is considerably more difficult than many Quicken users imagine; and I think there is little or nothing Quicken users can do to speed the process up. It's virtually certain that posting more complaints in the Quicken Community will do nothing to help.

However one possible way users might help is if Quicken asks users for the submission of their experience and their data (using Help > Report a Problem); by all means, send the information (including a sanitized version of your Quicken data, and ALL the Log files).

[JohnA]

While this also is not definitive, it does seem to contradict what you are
saying:

https://community.quicken.com/discussion/7904088/directconnect-support-with-truist

-- John

"John Pollard" wrote in message
news:b38f0f95-380a-4c80...@googlegroups.com...

[JohnA]

The log shows the following error:

==== Mini-OSU Start (20211220/16:02:45) ====
20211220 16:02:45: QFN: Beginning send to
https://www.oasis.cfree.com/test.ofxgp
20211220 16:02:48: ***QFN kQFFinished: returns 67305972
20211220 16:02:48: We’re sorry, the server is experiencing an internal
error. Try again now, or wait and try later.
20211220 16:02:48: QFN: End send to https://www.oasis.cfree.com/test.ofxgp,
netstatus 30
20211220 16:02:49:

This doesn't look like a Suntrust error but I guess it somehow could be.

-- John

"John Pollard" wrote in message
news:b38f0f95-380a-4c80...@googlegroups.com...

[JohnA]

Glad to report that it's now working.

I will just add this for the record. When I talked with Truist a month ago,
they indicated that their intention was to support Direct Connect and PC
bill pay and until they did so, if those features are required, to stay with
SunTrust. Of course, now whenever something goes wrong, some of us will have
a panic attack. I did verify that as of today,Truist only supports Express
Web Connect with Quicken. Since Truist owns the technology from SunTrust,
it would be strange if the new FI permanently had less capability than the
original but anything is possible. Anyway, glad it was just a glitch.

"JohnA" wrote in message
news:APadnVuW7rTJbV38...@giganews.com...

[John Pollard]

On Monday, December 20, 2021 at 2:20:03 PM UTC-6, JohnA wrote:
> While this also is not definitive, it does seem to contradict what you are
> saying:
>
> https://community.quicken.com/discussion/7904088/directconnect-support-with-truist

Here is the comment from Truist that suggested to me that they were going with EWC+.

"Truist has implemented the necessary code to allow downloads from 3rd party aggregators, however it is now dependent on the aggregators to test and implement changes needed to continue downloads."

Direct Connect doesn't need any testing by 3rd party aggregators: as soon as the financial institution supplies the correct OFX data to the aggregator (Intuit, for Quicken), Direct Downloading will be successful.

Truist may well have decided to try to use Direct Connect, but supplied odd language to describe the current state of affairs. And I don't believe that the moderators in the Quicken Community get things right all the time.

Truist is a "Sustaining Member" of the Financial Data Interchange - I believe that membership costs money. And that membership is not necessary or useful for Direct Connect downloads.

As I noted in another discussion here, I expect more and more financial institutions to switch to EWC+, including those fi's currently providing Direct Connect downloads. EWC+ appears to be more secure than Direct Connect, and it appears EWC+ will cost the financial institution's less than Direct Connect. Even if Truist is not currently implementing FDX, I wouldn't be surprised to see them do that in the not too distant future.