Quicken 2008 and PayPal – A marriage made in hell!

One of the great new features of Intuit Quicken 2008 is the ability to add and synchronize a PayPal account within Quicken. This is a long awaited feature and truly a selling point for this new version. But don’t be fooled into thinking that it actually works, no no no! There are two major flaws with this feature and makes this item completely useless. First if you happen to have more than one PayPal account, forget about trying to synchronize them with PayPal’s web site. Quicken cannot handle more than one PayPal account and when you attempt to add the second account, you will receive an error. Of course Intuit does not point out this shortcoming in any of their documentation and they are unable to suggest how to fix the problem.

The fact that you cannot add more than one PayPal account becomes a non issue when you discover the next major flaw. Synchronizing Quicken 2008 with your PayPal account will cause a security violation and PayPal will disable your account. When Quicken downloads PayPal data into your Quicken account, it connects to PayPal from its Quicken server; not your home computer. Because of this, PayPal sees an unknown IP address attempting to access your account and they quickly limit your PayPal account access.

So, not only does the Quicken 2008 PayPal feature not work, but it will also disable your PayPal account!

Yet again, Intuit does not have a solution to this problem, and the list of angry customers is growing.

1 Comment

  1. QB1995User

    Thanks for posting these troubles.

    Quicken\’s Web Connect (QFX) messing up Paypal\’s security I think is fixed. At least it didn\’t happen to me in the latest Quicken 2008 (although I recall I was prompted ONCE to by Paypal to reset my password and maybe set a security question — no big).

    However, I don\’t know about having multiple Paypal accounts thru the Web Connect (QFX) is fixed – haven\’t tested that.

    But even before reaching that point, did you take a close look at those transactions which Web Connected downloaded? Because in my experience, they\’re all messed-up and incomplete. And not just for Paypal, but for Wells Fargo, too — a problem which isn\’t going away because the QFX data seems to be being TRANSMITTED messed up. See this recent thread at http://www.quickencommunity.com/webx?14@@.59b4d0d2 : post 8 even quotes you, and it also asks `Has it worked without these woes for anyone?\’ — please see & respond there.

    Reply

Cancel reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.