Updating Your Bank Login Information

Quick Review

What is it? The process of updating your bank credentials in Quicken Simplifi after changing them at your financial institution.

Why use it? Maintains your automatic transaction downloads and balance updates when you've changed your bank password or username.

How to access:

• Web: Settings > Accounts > Three dots menu > Reset connection

• Mobile: Menu > Settings > Accounts > Three dots menu > Reset connection

Key limitation: OAuth banks require authentication through their website, not directly in Quicken Simplifi.

Overview

When Ashley's bank required a password update last month due to a security policy change, they worried about losing their transaction history in Quicken Simplifi. After updating credentials at the bank, Ashley found that reconnecting accounts preserves all existing data while restoring the connection.

Updating your bank login information becomes necessary whenever you change your username or password at your financial institution. Without updating these credentials in Quicken Simplifi, your accounts stop syncing, leaving you with outdated balances and missing transactions. The good news is that your historical data remains intact throughout the process.

Ashley now updates credentials quarterly as part of their security routine, changing passwords at each bank's website and then immediately updating them in Quicken Simplifi.

The Credential Update Experience

The Password Change That Started It All

Ashley's credit union enforced a mandatory password change after 90 days. At first, Ashley ignored the reminder in Quicken Simplifi thinking it would auto-update. After three days without new transactions appearing, Ashley realized manual intervention was needed.

Learning the Two Update Methods

Ashley discovered two ways to update credentials:

The Waiting Game: After changing the password at the bank, Ashley initially just waited. For some accounts, Quicken Simplifi displayed a prompt asking for the new password, though this didn't always happen.

The Manual Fix: When automatic prompts don't appear or immediate access is needed, Ashley uses the manual reset method to restore the connection.

How to Update Credentials

Method 1: Wait for the Automatic Prompt

After changing your credentials at your bank, Quicken Simplifi may detect the change and prompt you for new credentials. This detection can take several hours or may not occur at all, depending on your bank's configuration.

Note: The timing and reliability of automatic prompts varies significantly by financial institution.

Method 2: Manual Reset

When you need immediate results or the automatic prompt doesn't appear, manually reset the connection.

On Web:

1. Click Settings (gear icon, bottom left)

2. Select Accounts

3. Locate your financial institution

4. Click the three dots menu

5. Select Reset connection

6. Enter your new credentials

7. Click Connect

On Mobile:

1. Tap Menu (three lines, top left)

2. Select Settings

3. Select Accounts

4. Find your financial institution

5. Tap the three dots menu

6. Tap Reset connection

7. Tap Reset to confirm

8. Enter new credentials

9. Tap Link Account

The Critical Linking Step

After entering credentials, Quicken Simplifi shows your available accounts. This step determines whether you'll have clean data or duplicates.

The Critical Linking Step

For each account displayed:

1. Always select "Link To" for existing accounts

2. Choose the matching account from your current list

3. Only select "Add" for genuinely new accounts

4. Uncheck accounts you don't want to track

Ashley learned this the hard way: Accidentally clicking "Add" instead of "Link To" created duplicate checking accounts, requiring manual cleanup of 200+ transactions.

OAuth vs. Direct Connection

Understanding OAuth (The Bank Popup)

When Ashley first encountered OAuth with their investment account, the popup window seemed suspicious. OAuth connections redirect you to your bank's actual website for authentication, never requiring you to enter bank credentials directly into Quicken Simplifi.

OAuth banks that commonly use this method include major institutions like:

• Chase

• Wells Fargo

• Bank of America

• Charles Schwab

Direct Connection Banks

These banks accept credentials directly in Quicken Simplifi:

• Local credit unions

• Many regional banks

• Some credit card companies

Ashley notes that OAuth adds security, though it may require completing two-factor authentication more frequently.

Common Issues and Solutions

Wrong Bank Instance

Problem: Ashley couldn't find their Capital One savings account after reset.

Solution: Capital One requires different instances:

• Capital One 360 for checking/savings

• Capital One Card Services for credit cards

Accounts Not Appearing

Problem: After entering correct credentials, no accounts showed up.

Solution: Ashley's credit union had renamed account types in their system. Support helped map the accounts to the new names.

Two-Factor Authentication Issues

Problem: Bank requests verification codes repeatedly during connection attempts.

Solution: Some users report success after disabling and re-enabling two-factor authentication at the bank, then waiting before reconnecting in Quicken Simplifi.

Security Considerations

Ashley treats credential updates as security checkpoints:

1. Update passwords quarterly: Even when not required, regular updates improve security

2. Use unique passwords: Each financial institution gets its own complex password

3. Check recent transactions: After any credential update, review the last 30 days for unauthorized activity

4. Document the change: Ashley keeps a secure note of when passwords were last updated

When Ashley's friend experienced card fraud, being able to update credentials in Quicken Simplifi helped maintain financial visibility while waiting for new cards from the bank.

Best Practices

Based on managing 8 connected accounts, Ashley recommends:

1. Update immediately after changing bank passwords - Don't wait for sync errors

2. Screenshot your account list before resetting - Helps ensure correct linking

3. Reset one institution at a time - Prevents confusion when linking multiple accounts

4. Test with a small transaction - Verify the connection works after updating

5. Keep backup credentials - Some banks allow app-specific passwords as fallback

6. Schedule password updates - Ashley updates all passwords on the first Sunday of each quarter

7. Document OAuth banks - Note which banks use popup authentication

The Bottom Line

Updating bank credentials in Quicken Simplifi preserves your financial history while maintaining secure connections. Whether you wait for the automatic prompt or manually reset connections, the process takes just minutes. Ashley now views credential updates as routine maintenance rather than disruption, appreciating the security benefits of regular password changes.

The key is remembering to link existing accounts rather than adding new ones. This single choice prevents hours of cleanup work and maintains your carefully categorized transaction history.

Hint: Consider setting a quarterly calendar reminder to update your financial passwords. When updating credentials, work through all your banks in one session, changing passwords at each bank's website first, then immediately updating them in Quicken Simplifi. This systematic approach prevents lost transaction downloads due to forgotten credential updates and aligns with many banks' security recommendations for regular password changes.