What is a Web Connect Branding Error with QuickBooks Desktop

Have you ever attempted to import transactions into QuickBooks Desktop only to receive the following message? Unrecognized Bank: The most common reason QuickBooks users receive this error is due to a bad Intuit Bank ID number (INTU.BID) coded into the file being imported.  When Intuit first started importing transactions into their platforms, they required every financial institution to register their bank.  During the registration process, the financial institution had to purchase a license to be included as a supported bank.   This meant that if the institutions did not purchase the license, they would not be able to import the files…

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Factoring The Bank Feed Challenge

What is Multi Factor Authentication Bank feeds (also known as extractors) are what connect banks to various accounting platforms. These data exchanges provide accountants, lenders, as well as other applications within the financial technology (Fin Tech) sector with valuable consumer information. But what protects your personal data from falling into the wrong hands? Multi Factor Authentication. Depending on your banks security requirements, you may be required to answer additional security questions, or reply to an email, text, or phone which is commonly known as multi factor authentication (MFA). Like your financial institution, Common Types of MFA Currently there are three…