Changes In How Some Banks Work With QuickBooks Online
Your Connection Is Getting An Update
Intuit, the software company that makes QuickBooks Online, is working currently with major banks to improve the connection for accounts in the Banking section of QBO. They are using a new technology, similar to how 3rd party apps connect to QBO, in which the bank account’s data is accessed via a token, or electronic key, instead of using a username and password on the account. This should eliminate those pesky error messages about not being able to update and having to wait 24 hours (or even days) for new transactions to be downloaded into QuickBooks.
Banks Included In This New Technology
This is currently being rolled out to the following banks: Bank of America, Capital One, Citi, JP Morgan Chase, and Wells Fargo. With Capital One and Wells Fargo, either you as the secondary delegated user, or the primary account holder have permission to make this connection update. However, Bank of America, Chase, and Citi require the primary account holder to take action.
Click on "update now" and you will be routed to the bank's website where you can establish the new connection. You will probably have to go through all the security procedures of the bank, including CAPTAS, security questions, or 2-factor authentication (sending a code to either your email or a text to your mobile number) like you would when logging into the bank on a new device (or browser).