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Community Discussion: updating bank password for an Express Connect account
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John Pollard
Sep 15, 2022, 3:19:28 PM9/15/22
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Community Discussion: updating bank password for an Express Connect account
Found at: https://community.quicken.com/discussion/7919683/updating-bank-password-for-an-express-connect-account
Basically Express Web Connect passwords are no longer stored in the Quicken Password Vault, and can not be changed there.
Once again, Quicken, Inc. is clueless - but happy to respond anyway ... lest some user think no one cares.
The FAQ for the original poster's problem can be found here: https://www.quicken.com/support/why-dont-i-need-enter-my-bank-password-download-my-bank
I have pasted the essence of that FAQ below.
Overview of Express Web Connect
When you set up your Express Web Connect accounts, you entered your username and password for your bank. Quicken then passed these credentials to our aggregation provider, who encrypted and stored your credentials on their servers in order to enable you to quickly download your banking transactions. For more information on how Express Web Connect works, please see the section Express Web Connect / Quicken Connect – Details in this FAQ.
What is changing?
Quicken is updating to a new, modern aggregation platform, with the same trusted bank aggregation partner. The new aggregation platform is more secure, faster, and will help reduce online banking errors.
What does this mean for me?
Quicken will continue to function in the same way; your encrypted credentials are stored with our aggregation provider, and they pull your transactions from your bank using those encrypted credentials. As part of this update, you’ll no longer need to take the additional step of entering your Express Web Connect bank passwords when you update your accounts, and you’ll also no longer see your Express Web Connect credentials in the Password Vault.
Why don't I have to enter my passwords?
As part of this move, we’re removing the additional step of entering Express Web Connect account passwords before a One Step Update, because this step is not required to pull your latest transactions. Just as Quicken has always functioned, your encrypted credentials are stored with our aggregation provider, and they pull your transactions from your banks using those credentials.
Entering the password before a One Step Update was just an additional verification step, to ensure that if someone accessed your file they could not run a One Step Update; you can maintain this same level of verification by adding a data file password to your file.
Is my data safe?
Yes. The safety of your data is our number-one concern, and nothing is changing about where your data is stored. While our aggregation provider has always encrypted and stored your Express Web Connect bank account credentials, with this newer, more modern platform, we’re actually increasing the security of Express Web Connect.
Previously, your bank passwords were sent via https to our aggregation provider, (this is the same level of security as logging into a secure website). With the new platform, we encrypt your credentials before we send them to our aggregation provider, essentially doubling the security of your credentials.
As always, if you would still like to ensure that no one other than you can access your data file, you can also add the extra layer of a data file password.
What do I need to do?
Nothing! If you’ve previously entered your credentials for Express Web Connect accounts, they’re already encrypted and stored.
I prefer to enter my passwords every time I update my accounts
There's not currently a way to revert to the old Express Web Connect process, however, if you prefer to enter your passwords directly with the bank, you can switch your connection type to Direct Connect (if your bank offers this) or Web Connect. Web Connect requires you to log into your bank's website and download a .QFX file of your transactions for import into Quicken.
What if I need to change my bank password?
If you have recently changed your password for your bank's website, you will be prompted to change it in Quicken after you attempt to update your accounts with the old, stored password. If you are not prompted, follow the steps below.
If you are not prompted to change your bank password
You will need to Deactivate and Reactivate the account:
To Deactivate the account:
Open the Account List (Ctrl + A).
Make sure to Show Hidden Accounts, if that option is available.
Click Edit next to the affected account.
Go to the Online Services tab and click Deactivate.
Close/Reopen Quicken.
To Reactivate the account:
Open the Account List (Ctrl + A).
Click Edit next to the affected account.
Go to the Online Services tab and click Set up now...
Enter your bank credentials.
Carefully review the Discovered accounts and Link them properly to avoid duplicate accounts and ensure transactions download to the correct accounts.
Found at: https://community.quicken.com/discussion/7919683/updating-bank-password-for-an-express-connect-account
Basically Express Web Connect passwords are no longer stored in the Quicken Password Vault, and can not be changed there.
Once again, Quicken, Inc. is clueless - but happy to respond anyway ... lest some user think no one cares.
The FAQ for the original poster's problem can be found here: https://www.quicken.com/support/why-dont-i-need-enter-my-bank-password-download-my-bank
I have pasted the essence of that FAQ below.
Overview of Express Web Connect
When you set up your Express Web Connect accounts, you entered your username and password for your bank. Quicken then passed these credentials to our aggregation provider, who encrypted and stored your credentials on their servers in order to enable you to quickly download your banking transactions. For more information on how Express Web Connect works, please see the section Express Web Connect / Quicken Connect – Details in this FAQ.
What is changing?
Quicken is updating to a new, modern aggregation platform, with the same trusted bank aggregation partner. The new aggregation platform is more secure, faster, and will help reduce online banking errors.
What does this mean for me?
Quicken will continue to function in the same way; your encrypted credentials are stored with our aggregation provider, and they pull your transactions from your bank using those encrypted credentials. As part of this update, you’ll no longer need to take the additional step of entering your Express Web Connect bank passwords when you update your accounts, and you’ll also no longer see your Express Web Connect credentials in the Password Vault.
Why don't I have to enter my passwords?
As part of this move, we’re removing the additional step of entering Express Web Connect account passwords before a One Step Update, because this step is not required to pull your latest transactions. Just as Quicken has always functioned, your encrypted credentials are stored with our aggregation provider, and they pull your transactions from your banks using those credentials.
Entering the password before a One Step Update was just an additional verification step, to ensure that if someone accessed your file they could not run a One Step Update; you can maintain this same level of verification by adding a data file password to your file.
Is my data safe?
Yes. The safety of your data is our number-one concern, and nothing is changing about where your data is stored. While our aggregation provider has always encrypted and stored your Express Web Connect bank account credentials, with this newer, more modern platform, we’re actually increasing the security of Express Web Connect.
Previously, your bank passwords were sent via https to our aggregation provider, (this is the same level of security as logging into a secure website). With the new platform, we encrypt your credentials before we send them to our aggregation provider, essentially doubling the security of your credentials.
As always, if you would still like to ensure that no one other than you can access your data file, you can also add the extra layer of a data file password.
What do I need to do?
Nothing! If you’ve previously entered your credentials for Express Web Connect accounts, they’re already encrypted and stored.
I prefer to enter my passwords every time I update my accounts
There's not currently a way to revert to the old Express Web Connect process, however, if you prefer to enter your passwords directly with the bank, you can switch your connection type to Direct Connect (if your bank offers this) or Web Connect. Web Connect requires you to log into your bank's website and download a .QFX file of your transactions for import into Quicken.
What if I need to change my bank password?
If you have recently changed your password for your bank's website, you will be prompted to change it in Quicken after you attempt to update your accounts with the old, stored password. If you are not prompted, follow the steps below.
If you are not prompted to change your bank password
You will need to Deactivate and Reactivate the account:
To Deactivate the account:
Open the Account List (Ctrl + A).
Make sure to Show Hidden Accounts, if that option is available.
Click Edit next to the affected account.
Go to the Online Services tab and click Deactivate.
Close/Reopen Quicken.
To Reactivate the account:
Open the Account List (Ctrl + A).
Click Edit next to the affected account.
Go to the Online Services tab and click Set up now...
Enter your bank credentials.
Carefully review the Discovered accounts and Link them properly to avoid duplicate accounts and ensure transactions download to the correct accounts.
John Pollard
Sep 16, 2022, 11:26:12 AM9/16/22
to
On Thursday, September 15, 2022 at 2:19:28 PM UTC-5, John Pollard wrote:
> Basically Express Web Connect passwords are no longer stored in the Quicken Password Vault, and can not be changed there.
My apologies. While the above statement is correct, users do not necessarily need to deactivate/reactivate in order to update an Express Web Connect financial institution's credentials; there is a simpler way.
> Basically Express Web Connect passwords are no longer stored in the Quicken Password Vault, and can not be changed there.
To update credentials in Quicken for Express Web Connect downloads, get to the Quicken "Update Settings" screen (either by initiating a One Step Update, or by clicking the down-arrow on the right side of the Quicken One Step Update Toolbar icon and selecting Update Settings). In the Update Settings dialog there is a gold-key icon alongside Express Web Connect accounts; clicking that gold-key link will present a dialog that includes a link to "Update the sign in information".
[The above does not apply to the Express Web Connect+ Connection Method: I believe the user must deactivate/reactivate to change credentials for EWC+]
JohnA
Sep 19, 2022, 10:51:47 PM9/19/22
to
>> Basically Express Web Connect passwords are no longer stored in the
>> Quicken Password Vault, and can not be changed there.
What happens when you open the vault and click on the golden key? The
>> Quicken Password Vault, and can not be changed there.
information from the thread indicates that a password change can be
initiated from performing that action. Where it is actually stored is not
the issue.
"John Pollard" wrote in message
news:b4e53b92-92a2-48bf...@googlegroups.com...
John Pollard
Sep 20, 2022, 9:46:31 AM9/20/22
to
On Monday, September 19, 2022 at 9:51:47 PM UTC-5, JohnA wrote:
> >> Basically Express Web Connect passwords are no longer stored in the
> >> Quicken Password Vault, and can not be changed there.
> What happens when you open the vault and click on the golden key? The
> information from the thread indicates that a password change can be
> initiated from performing that action. Where it is actually stored is not the issue.
I'm not really sure what your point is, but you may have missed an important distinction in my earlier posts; so the best I can do at this stage is to provide more detail (the essence of which is in the Community Discussion which this newsgroup discussion is about).
> >> Basically Express Web Connect passwords are no longer stored in the
> >> Quicken Password Vault, and can not be changed there.
> What happens when you open the vault and click on the golden key? The
> information from the thread indicates that a password change can be
> initiated from performing that action. Where it is actually stored is not the issue.
Passwords stored in the Quicken Password Vault can be changed using Tools > Password Vault > Add or Edit Passwords.
Express Web Connect passwords used to be stored in the Quicken Password Vault, but are no longer stored there, so they can not always (or possibly ever) be modified there.
When I go to Tools > Password Vault > Add or Edit Passwords, select a financial institution that uses Express Web Connect, and click on the gold key, I see the following:
"You no longer need to enter your financial institution credentials for Express Web Connect accounts."
Followed by the link "Click here to learn more"
If I "click here", I am taken to the FAQ I provided a link to in my initial post in this discussion, namely: https://www.quicken.com/support/why-dont-i-need-enter-my-bank-password-download-my-bank
That FAQ essentially says that "[I]f you are not prompted to change your bank password", you must deactivate/reactivate in order to change the password. While that will allow changing the password, it is more work than necessary.
However, it turns out that it is not necessary to deactivate/reactivate in order to change the password for Express Web Connect accounts. As I noted in my second post in this discussion, you can change the password for Express Web Connect accounts in the "Update Settings" dialog. Express Web Connect financial institutions in the "Update Settings" dialog also have a gold key alongside their names, and clicking that gold key displays the following:
"[Financial Institution Name] connects using Express Web Connect. With this connection method, encrypted credentials or anonymous tokens (if supported by your financial institution) are stored with the aggregation provider."
Following that, two links are provided:
"Update the sign in information" (which displays the "Update sign in information" dialog
and
"Learn more" (which takes the user to the aforementioned FAQ).
So it does matter where the password is stored; Direct Connect passwords are still stored in the Password Vault and can be changed there, just as always. Express Web Connect passwords are NOT stored in the password vault and users can no longer count on being able to change EWC passwords in the Password Vault ... but users can still initiate the changing of EWC passwords from Quicken.
JohnA
Sep 20, 2022, 8:35:50 PM9/20/22
to
>> I'm not really sure what your point is, but you may have missed an
>> important distinction in my earlier posts; so the best I can do at this
>> stage is to provide more detail (the essence of which is in the Community
>> Discussion which this newsgroup discussion is about).
Yes, this thread just came into my feed with your apology. The statement
>> important distinction in my earlier posts; so the best I can do at this
>> stage is to provide more detail (the essence of which is in the Community
>> Discussion which this newsgroup discussion is about).
that I made was cross replied from the original thread where you stated
clearly:
>> Basically Express Web Connect passwords are no longer stored in the
>> Quicken Password Vault, and can not be changed there.
>
>> Quicken Password Vault, and can not be changed there.
>
>> Once again, Quicken, Inc. is clueless - but happy to respond anyway ...
>> lest some user think no one cares.
Glad the issue is resolved. Perhaps Quicken, Inc. is not as clueless as you
>> lest some user think no one cares.
think.
-- John
"John Pollard" wrote in message
John Pollard
Sep 20, 2022, 11:09:48 PM9/20/22
to
On Tuesday, September 20, 2022 at 7:35:50 PM UTC-5, JohnA wrote:
> >> I'm not really sure what your point is, but you may have missed an
> >> important distinction in my earlier posts; so the best I can do at this
> >> stage is to provide more detail (the essence of which is in the Community
> >> Discussion which this newsgroup discussion is about).
> Yes, this thread just came into my feed with your apology. The statement
> that I made was cross replied from the original thread where you stated
> clearly:
>>> Basically Express Web Connect passwords are no longer stored in the
>>> Quicken Password Vault, and can not be changed there.
Which is essentially still true (at least the EWC password can not be changed in the manner that Direct Connect and, at one time, Express Web Connect could be changed). The change in the password modification method for EWC is what caused the original poster in the Community Discussion to initiate the discussion.
> >> I'm not really sure what your point is, but you may have missed an
> >> important distinction in my earlier posts; so the best I can do at this
> >> stage is to provide more detail (the essence of which is in the Community
> >> Discussion which this newsgroup discussion is about).
> Yes, this thread just came into my feed with your apology. The statement
> that I made was cross replied from the original thread where you stated
> clearly:
>>> Basically Express Web Connect passwords are no longer stored in the
>>> Quicken Password Vault, and can not be changed there.
[For further clarification: when a password can be stored in the Password Vault, but the user chooses not to store it there, Quicken typically presents an empty password box to allow entering the password in the Update Settings dialog when the user initiates an download. Since Express Web Connect passwords can no longer be stored in the Password Vault, Quicken no longer presents that empty password box during a download.]
>>> Once again, Quicken, Inc. is clueless - but happy to respond anyway ... lest some user think no one cares.
> Glad the issue is resolved.
> Perhaps Quicken, Inc. is not as clueless as you think.
I frequently comment here on the lame responses of Quicken employees by using "Quicken, Inc." as an identifier for those employees. Those Quicken employees who respond in the Quicken Community have access to better information than what often appears in the responses they post.
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