Bank Connection no longer working
Daren
Member Posts: 36 ✭✭
We are with a major Canadian Bank. The last import transaction showing up in my Wave account is Aug 11/2020. Also wave use to show a "Last Updated" with a date when referring to the connected bank account, however this is no longer displayed so I have no idea when it last tried to update.
Please help wave.
Thanks
1
Comments
Same problem with CIBC. Has not worked for past week (since Aug 11). Any help would be appreciated
I know Wave switched to a different provider for this service quite a while ago and it has been quite poor since then. When they first switched every once and a while it would not work for a few days but this has been the longest with it not working.
The old bank connection system was so much better. Hopefully these current problems prompts wave to consider switching back.
We are having issues with BMO Bank of Montreal as well. Seems like a widespread issue with Canadian banks.
Hey there folks, @highlevelwealth @Daren @SOC
When it comes to bank connections it's a bit more difficult to investigate through our community forum. If you haven't already submitted a ticket to our support team about your bank connection issue, I would recommend doing so. If you haven't received a response, I assure you that our team is on it but we're dealing with a larger than normal volume of emails, so we appreciate your patience.
I've all but decided to leave Wave solely because of these never ending bank connection issues. Haven't connected to CIBC since August 2. It works briefly then remains broken again for weeks at a time. If I don't notify someone, it never comes back. Also noticed it no longer shows the last connection date. It also needs to have the ability to reconnect put back in. Why Wave hasn't returned to the old connection ways I'll never understand. I'm guessing they can't, but this has been a nightmare since the day it was changed. A bookkeeping program is kinda useless without a connection to the bank. Who's wants to be importing all the time? Wave imports all my withdrawals and deposits reversed anyway, so I have to fix every transaction. Wave has some nice new features, but the functionality is now dismal. They'd rather blame the banks than fix the real problems. Nothing but excuses and no resolutions.
I rarely see anything addressed here anymore, except to repeat suggestions to submit a ticket (these are ignored). I've been suspecting for a while now that CIBC (maybe all Canadian banks?) might be deliberately blocking Wave. It's the only thing that makes sense to explain these constant connection issues across Canadian banks. I even changed my banking password, hoping that would trigger Wave into asking for it. But Wave isn't even trying to connect. Is there any point in expecting Wave to ever fix these connection issues, or is it time to just write the program off and move on to a paid and working alternative?
Hey @JimH
Thanks for bringing this up in our community. I hope I can address you honestly and speak candidly as to why we are pushing for users to submit a ticket. The reason is that each issue for each bank (and sometimes even each bank account on a more micro level) has varying reasons that might be causing an outage. Most major Canadian banks are not blocking Wave at the moment.
As you may already know Wave uses a 3rd party banking aggregator called Plaid to "scrape" the information securely from your banking transactions page, then convert it to a transaction in Wave. Essentially what happens is that your bank is constantly making new updates to their back end security encryption because naturally banks wants to remain on top when it comes to having the latest in security. When any of these changes are made, it will disconnect from Wave. Plaid has to then create a new connection path depending on the type of changes that your bank made. This change sends our team an error code which we can then escalate to the Plaid for a more thorough investigation. Plaid will then respond to Wave support to give them a clearer idea of what is going on with this particular bank.
I do sincerely apologize that your particular bank is being affected by an outage at the moment
I understand how this may affect your accounting. I am sure that you've already been giving instructions on how to manually upload your transactions but just to be sure I'll post those below
Hi X_Æ_A_Xii,
Just a suggestion that seems to make complete common sense to me. Why not go back to your old banking aggregator that you used before Plaid. It worked fantastically. Plaid has been a disaster since you started using it. As a business owner myself if any of our 3rd party contractors did the kind of reputation damage to us as Plaid has done to you guys they would have been given the heave-ho months ago. Please go back to the old banking aggregator as it worked well and they were very competent unlike Plaid.
Thanks,
Daren
Exactly! No idea why they'd continue with this level of incompetency. Ridiculous. I've been disconnected from CIBC more than I've been connected since this method took over.
So here is an update to anyone following this. Wave has gotten back to me and essentially their aggregator has no idea when they will be able to fix this. Here is a quote from that email "They are working on resolving it, however due to the severity of the issue they are unable to give us an ETA at this time on when this could be resolved."
Wave, It is so incredibly clear that this bank aggregator has no idea what they are doing and are incapable of performing this task. PLEASE go back to your old bank aggregator; they know what they are doing and are good. This Plaid aggregator system has no clue what they are doing and are greatly tarnishing your brand and company.
Was working fine on my end (BMO) up till Aug 31st. Now I see last update was 2-days ago :-(
As of today, this is working. It likely won’t last more than a week. I had to change my bank password to force Wave to ask me to reconnect. Please pass along these suggestions to the powers that be:
Bottom line: You need to give the user back control of our bank accounts and find a reliable method to keep us connected to our bank. The detailed explanations I’ve seen on Plaid only illustrates how poorly it works, since I’m often disconnected for a month at a time. Why Wave clings to something so obviously broken and useless baffles everyone.
Wish mine was working. It hasn't since Aug 19. Maybe they could get in touch with quickbooks and find out who they use as an aggregator?
As predicted, mine worked exactly once and has now not connected since September 2nd. This is completely hopeless, and clearly Wave has no intention of fixing it.
2 days! I'd sell a kidney for 2 days. Well, not really, but try 1 connect in a month and a half! I've concluded they aren't going to fix this. I don't think their aggregator knows how. In fact, I suspect Wave and/or the Aggregator are being locked out by the banks for a lack of security compliance or some other non-compliance issue. You don't see QB or SAGE having these problems.
It finally started working again in September but now has not imported since Oct 13. Wave please help, this sucks.
Hey @Daren , can you submit a ticket directly to our Support team? That way they can look into your account 1 on 1 and let you know what's going on.
@Daren: I've put in a ton of tickets about this to support, including another today. They don't even bother answering anymore. No connections since early September for me. I don't believe this will ever be solved. Ten months now, no sign of progress. Hope you have better luck.
@JimH and @AlexL Yeah I've given up on the ticket procedure as it doesn't work. All you hear back on their data aggregator Plaid is: "They are working on resolving it, however due to the severity of the issue they are unable to give us an ETA at this time on when this could be resolved." which I can only translate to "So once again those donkeys over at Plaid have fully s#!* the bed. We contacted them about it and they are now hiding under their desks crying as they have no idea what to do. Hopefully when they climb out from under their desks they will be able to get it working, kinda, sorta, maybe? However in other news everything else wave offers is really great and done very well as the Wave employees and developers are all top notch and work very hard. It's just unfortunate the owner of Plaid has those naked pics of our CEO or they would have been given the heave ho long ago"
On other news at least my bank connection has been mostly working lately. However I have zero confidence that it will last.
Also for the record I am extremely happy with wave other than the data aggregator failure they have on their hands. I would have no problem paying a monthly fee to wave if they had a bank connection system that was actually reliable and you could update when needed like the previous version. It is very sad that such a good accounting program is saddled to such an incompetent bank connection system.
@AlexL Unfortunately my experience with tickets is not very positive. Don't get me wrong the wave employees and and the developers seem to be super helpful and awesome. Unfortunately you have been saddled to a lame plaid horse.
@AlexL For the record I could not be more happy with the Wave app itself. I think it is awesome. In fact if you were to drop plaid and get a competent data aggregator company with an update now feature, heck if you could get the same data aggregator you use to have that actually worked I would be more than happy to pay a monthly subscription fee.
I'd agree with this. Wave still has some annoying quirks and things that seem rather glaringly poorly designed, but overall I'm okay with the app. But this nonsense with the aggregator is beyond excusable. You have to seriously question how much the new masters care to leave this in such a mess for so long. Is it just a Canadian bank thing? If so, that would be my guess as to why there is little concern.
Can we find a way to blame Trump for this?? :-)
Blame Trump?
I'm from the province Canada no longer wants and is about to leave and join Trump.
Hey if we do separate and join Trump maybe getting a US bank account will fix the aggregator disaster going on?
Any update on this? I have 9 businesses setup in Wave, all using the same bank account connection credentials, but different bank accounts. 5 of the wave businesses/connections work great, and 4 have stopped working and no longer show on the dashboard the current bank account balance and "last updated date". I have submitted 3 support tickets and have not received any response. In order to use Wave, this feature needs to be working. Can somebody help out? Other than this, I love Wave and the system seems to work great. Thanks!
I appreciate your feedback on the reason why, but if a Help ticket is submitted and there is NO response from your Team, it diminishes the trust your customer have in WAVE and it pushes them away. Please consider sending out a blanket email to all users that have submitted a Help ticket letting them know, that actually your Team has heard them AND that you are working to resolve their issue. Particularly this connection issue to various bank. WAVE hasn't connected to Bank of America since ~Nov20...Please communicate with your customer base!!!
Well it's good to see that we have a dedicated discussion thread dedicated to this issue. The bank integration is a MAJOR feature and it's what made me choose Wave. And yes, it used to work great with the old aggregator, and now it's a constant nightmare and source of frustration for me.
I'm with RBC in Canada and the data imports break monthly for me. My workaround is to disable the automatic importing process, wait 24 hours, and then re-enable importing following the day that I last successfully imported transactions.
I've contacted Wave Support no numerous occasions about this recurring problem - but in the end I seem to fix the problem instead of them (using my workaround process above). The other options we're given about downloading statements and importing transactions seems so draconian, and requires me to wait a month before I can do my accounting and reconciliation. I like to do it more frequently than that.
I believe we need to keep the pressure up, so that Wave understands how this is negatively impacting their customers. I have to also wonder what my bank might think of this poor service, considering they were advertising their collaboration with Wave as the first bank in North America to do this:
Royal Bank of Canada collaborates with Wave to be the first bank in North America to integrate a full financial management platform with online banking for small business clients