@mjh said: @disappointed808
The reason we don't have a manual refresh with our new bank data provider is they send us transactions as soon as they are available. There is never a time when our bank data provider has transactions, that we don't have in Wave. With our old bank data provider, they would collect transactions and wait for us to fetch them. This step is no longer the case.
Neither the old or new bank data provider has the ability to query your bank directly for new transactions.
I mean no offense to you, and my frustration is not at you, specifically, but something is broken or delayed in the Wave system. I'm not alone: see the comments in this thread.
Now that I have a Quickbooks account up and running, I can see side-by-side how the data is pulled in. Just now, ~5 minutes ago. Here's my experience:
BoA: transactions posted today, 7 in total (double checked them just now) Wave: None of those 7 exist. No way to Pull them. 100% in the past, when it was posted in my bank, a "refresh" would pull them. 100%, regardless of the canned response you're told to give. Quickbooks: Didn't show the 7 transactions right away. It showed a last refresh date of yesterday. QB has a refresh button. I pressed it. Immediately, 7 transactions pulled in.
QB's refresh button experience is exactly what I have been doing with Wave since 2017. Now, I have to wait an unspecified amount of time to see the transactions.
Wave had some Pros and Cons to being used.
Pros
Way less expensive than QB, especially for tiny business
Immediately refresh and see your posted transactions (not the pending ones, I understood that long ago)
Cons
Not hugely popular with local CPAs. So not a lot of hands on help
The Pros outweighed the Cons.
Now, QB has manual refresh. The only thing Wave has going for it is being cheaper. But now my time is spent logging in to check if and when the aggregator decides to wake up. My time is money. So, my wasted time is better used to pay QB for actual, on-demand data. And I now get to have my CPA involved.
And you guys pull this off on January. Making the decision easier. I'm small potatoes and you won't miss me. But I'm hoping my Post here makes others relate. You guys screwed this up to a point where a tiny business with not a lot of disposable income would rather pay 3x more to Barf-Intuit, than to deal with this.
I agree with everyone here that the lack of a proper refresh is a game changer. My Huntington accounts haven't updated since last week. I will also be searching for a new accounting tool.
How could ANY accounting program make such a horrible change right in the middle of tax season???
New connection system didn't correctly identify all of my accounts and match them up. Not really sure yet if what it did with the accounts is correct.
Not all of my accounts are importing new transactions.
Can't manually refresh accounts, and the automatic schedule seems very infrequent, or maybe just not working at all? Who knows? This is annoying, because if I have 30 minutes to work on my books, but Wave hasn't imported any recent transactions, there's nothing I can do about it. Guess I hope I have time again tomorrow?
I have accounts with Bank of America and every time I attempt to set up again, it is saying my accounts are being locked. I have never had this issue before and can't figure out why I am not able to reconnect my business accounts to Wave. Is anyone else having this issue?
I am also having the problem of transactions not showing up after refreshing my bank connection with the new provider. When I look at the connected accounts screen now, my bank account balance shows as correct amount, but the transactions to get to that amount are not showing up and if I run a account balances report, the bank account balance is incorrect. Something is definitely amiss.
We get an error message after trying to reconned to our BMO Harris N/A account we get the following message "There was a problem processing your request. Your account could not be connected at this time." When I bring this up I am told to follow the directions we just followed that give us the error message. Now what? Based on the comments I guess we shift to Quickbooks now....
Wells Fargo is shown as a supported bank, but I receive an error that multi-factor authentication is not supported for this account. Since WF is my primary bank account, and I have multiple accounts at WF, this is a big issue for me.
Does anyone know if WF is no longer supported? And I do not want to download transactions and manually upload them - that is a terrible solution.
I just tried to add my account and it's not on the list. How can you not have Santander Business Banking on your supported lists of banks? It's only one of the biggest banks in the World. When will this be supported? I'm sure I'm not the only one that uses this Bank for business purposes and it's disappointing the link to Santander Business Banking that was not working earlier for so long is broke again. Santander changed their protocol the first time so shame on them but this one was all Wave making the change so shame on you.
If anyone has a recommendation on who else to look at I'm all ears!
Unfortunately we are not able to roll back to the previous bank data provider. Our new bank data provider does support Bank of America, and they support MFA with them. It may be possible that there are multiple types of MFA that Bank of America provides, and some of those types may be incompatible.
As far as I know there is only one type of MFA with BofA. There used to be more than one, but that was years ago as far as I know. Who can help me troubleshoot this? I've opened two tickets and have yet to even receive an email confirmation of my ticket, let alone an actual response from support.
I see complaints on here that BMO Harris accounts are not working. Why would you continue to move accounts using BMO Harris to the new provider when you know the connection is not currently working. Very disappointing.
@esirovatka said:
I see complaints on here that BMO Harris accounts are not working. Why would you continue to move accounts using BMO Harris to the new provider when you know the connection is not currently working. Very disappointing.
You know, you make a great point. Instead of scrambling to try and fix the holes in support after the fact, why not migrate the banks and account types that they know work, and then leave the problem cases and challenges to last?
The Bank connection feature is one of the main reasons I use Wave instead of other products (like freshbooks). It's concerning to see so many bad experiences with this feature after the "upgrade". I actually didn't have any issues with the actual migration itself, but have noticed a couple of very negative changes:
1) I miss the dashboard and ability to manually trigger an import.
2) I now have transactions coming in with truncated descriptions and can't tell exactly what they are and how to categorize them. (critical).
Any ideas?
Just got an email saying my bank connection isn't working. Only took 4 days for Wave to figure that out and give me the ability to fix it. Stay tuned to see if it happens again 4 days.
Wave, I have a common use case for your team that I'd ask you please consider.
Plaid generally supports multi-factor authentication. Whether an MFA token is required once for a device (Wave being the "device" in this case), once for a time period, or once for each login - Plaid generally supports all of these cases.
That said, your implementation of Plaid does not support the last case above: where an MFA token is required on each login. An example of this is Citi Credit Cards. If you turn on MFA (they call it 2FA, same thing) on your Citi account, it requires an MFA token on each login. In Wave, this means you can set up your Citi account, and transactions will be imported immediately after confirming the MFA token, but no subsequent transactions will be imported, because on next import, a new MFA token will be required. And Wave provides no interface for that.
This type of MFA is very common. It is not an edge case, and is used by many major institutions.
The only way to support this is to provide the ability to manually retrieve transactions.
Now, I realize you do not want OCD users clicking "retrieve" 50 times a day. But you could limit the retrieve to maybe once a day?
I don't love you guys, but like political candidates, you're the least horrible option out there today. Please add manual refresh back, with every-login MFA support, and stay at the top of the bottom of the pack.
(1) Capital One (Canada) Costco Card does not connect using Capital One (Canada).
(2) MBNA Canada (a Division of TD Bank) is not on the list, but probably could be easily added.
Just a complete and utter failure. 3+ days now without an automatic transaction import for a couple of my accounts. No manual refresh. Lost support on previously supported accounts. Completely unacceptable and a massive step back for an otherwise great platform. Very disappointed.
The new import worked after I did the initial change-over steps. However, this morning, it is not importing my last bank transaction that has cleared in my account. There is no way to "refresh" anymore.
Capital one is not the problem. This a wave problem and their new and helpless bank integrator problem. Why choose any service that does not connect to all 25 of the top 25 financial institutions? Ignorance? I don't think so. Stupid.
Bank (NBT) is not connecting. Credentials entered correctly, says successful re connection, but then makes you do it over, and over and over but it does not fully connect.
Is this new "upgrade" a money saving effort by Wave?
Is wave in trouble financially?
Should we start planning to move to other alternative?
Because this sure is NOT an "Upgrade" . It is a downgrade .
Since Wave is not providing timely support on these issues created by their own vendor migration, I thought I'd see if we can crowd source some more information to see if we can help narrow things down.
@disappointed808 You mentioned having a BofA problem but perhaps a different one to some others. Do you have 2FA (MFA) turned on for any of your BofA accounts?
@Just_Lurking My issue has to do with the delay in refresh, not the connectivity itself. Eventually, the transactions show, but they no longer show at the same day that my bank posts them. In the past, when transactions showed as posted (not pending), a manual refresh would immediately bring them into Wave. Now, they just don't show until maybe 2 days or more after the bank posts them.
Essentially for me, the nail in the coffin for me using Wave was the inability to know or predict when the transactions would show in Wave. Quickbooks gives me a manual refresh button. So in Quickbooks, I see more up to date transactions.
It's great to see the community try to find solutions. Kudos to you. For me, however, the solution was simple: move on to another platform. Quickbooks is 3x more expensive for me. But it comes with some nice perks. One of which is actually having up to date transactions to process.
Very frustrated with this update, getting behind on my accounting as transactions are not importing. No response from customer service. I have used Wave since I opened my business but I'm now looking for a new program as I can't manage my business with software that goes backwards instead of improving.
If I were you, I wouldn't import or link bank accounts to Wave as long as there's no 2FA implemented. It's a huge security risk to have a financial node without any basic cybersecurity etiquette in place.
Comments
Do you support Boeing Employee's Credit Union? My bank says they are connected to you, but I'm unable to import transactions.
I mean no offense to you, and my frustration is not at you, specifically, but something is broken or delayed in the Wave system. I'm not alone: see the comments in this thread.
Now that I have a Quickbooks account up and running, I can see side-by-side how the data is pulled in. Just now, ~5 minutes ago. Here's my experience:
BoA: transactions posted today, 7 in total (double checked them just now)
Wave: None of those 7 exist. No way to Pull them. 100% in the past, when it was posted in my bank, a "refresh" would pull them. 100%, regardless of the canned response you're told to give.
Quickbooks: Didn't show the 7 transactions right away. It showed a last refresh date of yesterday. QB has a refresh button. I pressed it. Immediately, 7 transactions pulled in.
QB's refresh button experience is exactly what I have been doing with Wave since 2017. Now, I have to wait an unspecified amount of time to see the transactions.
Wave had some Pros and Cons to being used.
Pros
Cons
The Pros outweighed the Cons.
Now, QB has manual refresh. The only thing Wave has going for it is being cheaper. But now my time is spent logging in to check if and when the aggregator decides to wake up. My time is money. So, my wasted time is better used to pay QB for actual, on-demand data. And I now get to have my CPA involved.
And you guys pull this off on January. Making the decision easier. I'm small potatoes and you won't miss me. But I'm hoping my Post here makes others relate. You guys screwed this up to a point where a tiny business with not a lot of disposable income would rather pay 3x more to Barf-Intuit, than to deal with this.
I agree with everyone here that the lack of a proper refresh is a game changer. My Huntington accounts haven't updated since last week. I will also be searching for a new accounting tool.
How could ANY accounting program make such a horrible change right in the middle of tax season???
I'll just say what everyone is probably thinking.
Problems I've had so far:
Is this a good experience for customers?
I have accounts with Bank of America and every time I attempt to set up again, it is saying my accounts are being locked. I have never had this issue before and can't figure out why I am not able to reconnect my business accounts to Wave. Is anyone else having this issue?
I am also having the problem of transactions not showing up after refreshing my bank connection with the new provider. When I look at the connected accounts screen now, my bank account balance shows as correct amount, but the transactions to get to that amount are not showing up and if I run a account balances report, the bank account balance is incorrect. Something is definitely amiss.
Agreed. I can no longer connect my checking account at all. When I try, I see this message.
Oh, MY bank made a change? Since yesterday? Coincidentally, on the same day I was added to the new Wave bank connection system?
Sure, Jan.
Can anyone recommend a Wave alternative other than QB? Does anyone have experience with any of these?
https://www.merchantmaverick.com/best-wave-alternatives/
We get an error message after trying to reconned to our BMO Harris N/A account we get the following message "There was a problem processing your request. Your account could not be connected at this time." When I bring this up I am told to follow the directions we just followed that give us the error message. Now what? Based on the comments I guess we shift to Quickbooks now....
any chance "deutsche bank (US group)" will be back in the list?
Wells Fargo is shown as a supported bank, but I receive an error that multi-factor authentication is not supported for this account. Since WF is my primary bank account, and I have multiple accounts at WF, this is a big issue for me.
Does anyone know if WF is no longer supported? And I do not want to download transactions and manually upload them - that is a terrible solution.
Please advise.
When can I expect to see the bank we use in the banks that are available to integrate?
I just tried to add my account and it's not on the list. How can you not have Santander Business Banking on your supported lists of banks? It's only one of the biggest banks in the World. When will this be supported? I'm sure I'm not the only one that uses this Bank for business purposes and it's disappointing the link to Santander Business Banking that was not working earlier for so long is broke again. Santander changed their protocol the first time so shame on them but this one was all Wave making the change so shame on you.
If anyone has a recommendation on who else to look at I'm all ears!
@mjh
As far as I know there is only one type of MFA with BofA. There used to be more than one, but that was years ago as far as I know. Who can help me troubleshoot this? I've opened two tickets and have yet to even receive an email confirmation of my ticket, let alone an actual response from support.
I see complaints on here that BMO Harris accounts are not working. Why would you continue to move accounts using BMO Harris to the new provider when you know the connection is not currently working. Very disappointing.
You know, you make a great point. Instead of scrambling to try and fix the holes in support after the fact, why not migrate the banks and account types that they know work, and then leave the problem cases and challenges to last?
The Bank connection feature is one of the main reasons I use Wave instead of other products (like freshbooks). It's concerning to see so many bad experiences with this feature after the "upgrade". I actually didn't have any issues with the actual migration itself, but have noticed a couple of very negative changes:
1) I miss the dashboard and ability to manually trigger an import.
2) I now have transactions coming in with truncated descriptions and can't tell exactly what they are and how to categorize them. (critical).
Any ideas?
Just got an email saying my bank connection isn't working. Only took 4 days for Wave to figure that out and give me the ability to fix it. Stay tuned to see if it happens again 4 days.
Wave, I have a common use case for your team that I'd ask you please consider.
Plaid generally supports multi-factor authentication. Whether an MFA token is required once for a device (Wave being the "device" in this case), once for a time period, or once for each login - Plaid generally supports all of these cases.
That said, your implementation of Plaid does not support the last case above: where an MFA token is required on each login. An example of this is Citi Credit Cards. If you turn on MFA (they call it 2FA, same thing) on your Citi account, it requires an MFA token on each login. In Wave, this means you can set up your Citi account, and transactions will be imported immediately after confirming the MFA token, but no subsequent transactions will be imported, because on next import, a new MFA token will be required. And Wave provides no interface for that.
This type of MFA is very common. It is not an edge case, and is used by many major institutions.
The only way to support this is to provide the ability to manually retrieve transactions.
Now, I realize you do not want OCD users clicking "retrieve" 50 times a day. But you could limit the retrieve to maybe once a day?
I don't love you guys, but like political candidates, you're the least horrible option out there today. Please add manual refresh back, with every-login MFA support, and stay at the top of the bottom of the pack.
(1) Capital One (Canada) Costco Card does not connect using Capital One (Canada).
(2) MBNA Canada (a Division of TD Bank) is not on the list, but probably could be easily added.
Just a complete and utter failure. 3+ days now without an automatic transaction import for a couple of my accounts. No manual refresh. Lost support on previously supported accounts. Completely unacceptable and a massive step back for an otherwise great platform. Very disappointed.
The new import worked after I did the initial change-over steps. However, this morning, it is not importing my last bank transaction that has cleared in my account. There is no way to "refresh" anymore.
Bank (NBT) is not connecting. Credentials entered correctly, says successful re connection, but then makes you do it over, and over and over but it does not fully connect.
Is this new "upgrade" a money saving effort by Wave?
Is wave in trouble financially?
Should we start planning to move to other alternative?
Because this sure is NOT an "Upgrade" . It is a downgrade .
Since Wave is not providing timely support on these issues created by their own vendor migration, I thought I'd see if we can crowd source some more information to see if we can help narrow things down.
@disappointed808 You mentioned having a BofA problem but perhaps a different one to some others. Do you have 2FA (MFA) turned on for any of your BofA accounts?
@FitmanNJ @dmiller01 @LeavingNow Is the below similar to the error message you are seeing?
@Just_Lurking My issue has to do with the delay in refresh, not the connectivity itself. Eventually, the transactions show, but they no longer show at the same day that my bank posts them. In the past, when transactions showed as posted (not pending), a manual refresh would immediately bring them into Wave. Now, they just don't show until maybe 2 days or more after the bank posts them.
Essentially for me, the nail in the coffin for me using Wave was the inability to know or predict when the transactions would show in Wave. Quickbooks gives me a manual refresh button. So in Quickbooks, I see more up to date transactions.
It's great to see the community try to find solutions. Kudos to you. For me, however, the solution was simple: move on to another platform. Quickbooks is 3x more expensive for me. But it comes with some nice perks. One of which is actually having up to date transactions to process.
@Just_Lurking : Yes, the message that you've posted is the one I've received.
Very frustrated with this update, getting behind on my accounting as transactions are not importing. No response from customer service. I have used Wave since I opened my business but I'm now looking for a new program as I can't manage my business with software that goes backwards instead of improving.
If I were you, I wouldn't import or link bank accounts to Wave as long as there's no 2FA implemented. It's a huge security risk to have a financial node without any basic cybersecurity etiquette in place.