[moneydance] how to diagnose OFX problems?

[Fuzzy Fox]

dancingbrook <dancingbrook at gmail.com> wrote:
>
> I just realized how much of a barrier this automatic OFX issues is to
> MD, particularly because it is/was so easy to set up and get initial
> acct info in Mint and Quicken (no I don't work for either).

It's important to realize that this whole OFX infrastructure was
actually built by Quicken, at considerable time, effort, and expense. 
Before Quicken, banks had no way for users to download transactions, and
did not even think customers would be interested in such a thing.  The
idea of putting customer out onto the Internet where perhaps anyone
could grab it, was considered ridiculous by the security-conscious
banks.

Quicken basically had to lobby them and wear them down from this
position, demonstrate that such data could be obtained securely, and
probably write half of the software that they used for this purpose. 
All for the purpose of making more sales in Quicken, by creating more
value for consumers by easing their financial management.  Because most
users hated typing in data all the time, so it was considered a barrier
to entry.

Since Quicken built the system, and mostly set it up to work using each
individual bank's services and servers, they kept the information about
how to connect to these banks, to themselves.  This makes some sense,
since they were the ones who basically caused the system to be built,
why should they share that information and allow others to profit from
their hard work?  As a result, the information about how to connect to
each bank and what protocols to use with them, is not a matter of public
information.  It is more a matter of detective work, and must be largely
repeated for each financial institution.

So the result is that, if you're not using Quicken (and probably MS
Money as well, since MS is probably paying money to Quicken for the use
of their proprietary connection data), then you are basically a victim
of the detective work and guesswork required for third parties to try to
edge their way into this closed financial network.

> Getting in the customer in the door and feeling comfortable is
> critical.

Well, that is certainly true, but the cost of making this easy would
increase the price of Moneydance substantially.  Is that what you want?

> Is there not a public database somewhere where all this bank specific
> OFX data is stored?  Certainly ought to be, an it could be kept up-to-
> date there as well.

There has probably been a movement to attempt to track this data in a
public repository somewhere, but the data is probably fraught with
errors and ommissions, which is the nature of such projects.  There is
no authority interested in making sure the information is factual and
complete, except for the community attempting to use that data.

-- 
 Fuzzy Fox <fox at foxtaur.com>
  "Why a man would want a wife is a big mystery to some people.
   Why a man would want two wives is a bigamystery."