Downloading from Bank of America

jczosojczoso Posts: 3Member
edited July 2012 in Desktop
My bank account is with Bank of America. I created a dummy account to get the feel of how to set up my YNAB. Tried to download from my BOA account as suggested in the video tutorial. Download is only available as a pdf. So it looks like YNAB isn't going to work for me. Any advise?? Or have I wasted my money on YNAB. BTW I purchased YNAB 3 back in October and now have paid to upgrade to YNAB 4. I never setup YNAB 3 and was determined to setup YNAB 4. Now it seems as if I've hit another roadblock. I love the concept behind YNAB but it seems like the complication behind the software may have me looking for software that is easier to work with. I used Microsoft Money for close to twenty years. Switched to Mac's 10 years ago and have been looking for a good financial software program to run on my Mac. YNAB seemed to be it but now I have my doubts. Any input will be appreciated.
Post edited by Unknown User on

Comments

  • litterbuglitterbug Posts: 3,636Member, Beta Tester
    I've never heard of a bank downloading transactions as a pdf because no financial software can read pdf files. Are you sure you're downloading the files and not a pdf of your statement?
  • amuelleramueller Posts: 30Member
    MY memory from my BOA days is that BOA requires you to initiate downloads from within your financial software (Quicken etc) and you can not just download a QIF or QXF file. I had the same issue when i started using YNAB with Capital One. At the time It was explained to the YNAB method encourages you to manually input your transaction in order to keep you connected with your finances. I initially fought this thinking as well but have coem to find its really a great way to keep up with things especially if you enter data regularly and timely.
  • bobbucybobbucy Posts: 251Member
    I'm not sure what state you are in, but I looked up BOA online banking information here in North Carolina. I found the following from their help for online banking:

    "Our download feature lets you save Online Banking information to your hard drive for use in other programs. It can be saved using:

    Quicken Web Connect (.QFX format) or
    QuickBooks Web Connect (.QFX format) or in a
    QIF format (2 digit or 4 digit year), the industry standard for information exchange between personal money management and spreadsheet software or
    Spreadsheet importable text format (comma-delimited text) which can be viewed in applications such as Word, MS Excel, and Notepad
    Text (TXT format) if you want the file in plain text, which can be viewed in most word processing applications such as Word, WordPerfect, and Notepad.

    Once you download, you can print out your account information and/or import it to your money management or spreadsheet software. Refer to your software's user guide for details on importing your downloaded files."

    With my bank, there is an option to download transactions and an option to download statements. I think that the initial response was correct that you are downloading the statement. Check again and see if there is another option to the effect of "download transactions".
  • JoelJoel Posts: 9,665Member, Beta Tester, Beta Moderator
    Hopefully you can get teh downloading fixed.

    However, I'm going to recommend doing manual entry. Save you receipts and enter them. Setup any monthly/recurring charges in the Scheduled Transactions window, and that will make the data entry extremely easy. Way easier than downloading.
  • PatMPatM Posts: 101Member
    I have a couple of B of A credit card accounts and they both download the Quicken type files that import right into YNAB.
  • WillWill Posts: 788Member, Beta Tester
    My recommendation would be to ditch BofA.
  • CobraA1CobraA1 Posts: 31Member
    Joel wrote:
    Hopefully you can get teh downloading fixed.

    However, I'm going to recommend doing manual entry. Save you receipts and enter them. Setup any monthly/recurring charges in the Scheduled Transactions window, and that will make the data entry extremely easy. Way easier than downloading.
    Will wrote:
    My recommendation would be to ditch BofA.

    Agreed and agreed.

    I keep track of all of my transactions in my iPhone now. The instant I do anything with my money, I put it into my device. When I get home, I put it into YNAB.

    As far as Bank of America goes . . . I'd probably switch. Most people I've talked to don't have a good experience with them.

    I'd recommend USAA (if qualified) or Ally.

    The only thing I use my physical bank for anymore is managing my cash on hand. Otherwise, everything I do is done via USAA. I have considered closing my physical bank account completely and using only an online bank, and just using an ATM when I need cash.

    I'm about sick of physical banks at this point. My current physical bank actually charges me now for maintaining an account. Both USAA and Ally, on the other hand, give interest and don't charge for maintaining an account. I'm at the point where I really can't justify using a physical bank anymore.
  • TurtleSVSTurtleSVS Posts: 69Member
    CobraA1 wrote:
    I'd recommend USAA (if qualified) or Ally.

    The only thing I use my physical bank for anymore is managing my cash on hand. Otherwise, everything I do is done via USAA. I have considered closing my physical bank account completely and using only an online bank, and just using an ATM when I need cash.

    I'm about sick of physical banks at this point. My current physical bank actually charges me now for maintaining an account. Both USAA and Ally, on the other hand, give interest and don't charge for maintaining an account. I'm at the point where I really can't justify using a physical bank anymore.

    When ING was bought out by Capital One, I looked into using Ally and found that it's just fancy new name for GMAC. Part of the reason for ditching Capital One/ING was to no longer give any money to mega-banks (or allow them the use of my funds). I found a very nice solution in a local credit union that's been around forever and has a pretty large member base. Their website isn't as fancy as ING, but they have branches and the people in those branches are SO FRIENDLY. I'm super happy I made that switch, and highly recommend credit unions.

    And for those of you in the SF Bay Area and surrounding metros, Patelco is the way to go: https://www.patelco.org/
  • jon1270jon1270 Posts: 107Member
    I have a BofA credit card, and the website has a couple of different "download" links in different places. One link might only provide PDFs while another offers Quicken files, but the link text for both simply says, "Download." IOW, it's poor website design but the feature you need is there.
  • zettazetta Posts: 158Member
    I'm just coming back to YNAB after 6 months "off the wagon", and finally went to BoA to download some credit card transactions so I could get a rough idea of my previous spending by catagory. Surprise, surprise, they now allow you to download "Current Transactions"! Problem solved.
  • jczosojczoso Posts: 3Member
    Thank you everyone for the advice. Would love to ditch BOA and I may soon. Experimenting with a Credit Union right now. Can't totally ditch someplace to keep my $$. Going to try what zetta did. As I said I love the YNAB philosophy so I will make the software work!!
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