Why is my bank unable to import transactions?

SystemSystem Posts: 282 admin

imageWhy is my bank unable to import transactions?

Wave partners with a third-party bank data provider to import your transactions. Sometimes, our data provider experiences difficulties during this process, resulting in an error message within Wave...

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edited November 28, 2019 in Help Center Discussion


  • bootz42bootz42 Member Posts: 3

    All of my accounts are in the "on" position on the connected bank page yet no transactions are coming through? how do I troubleshoot from here?

  • AlexLAlexL Administrator Posts: 1,364 admin

    Hey @bootz42 . There could be a few different reasons for this. If you reach out directly through our Support ticket submission form, someone on the Support team can take a deeper look at your account and escalate the situation to the appropriate team if needed :smile:

  • Heather_DonaldsonHeather_Donaldson Member Posts: 3

    This does not tell me who to contact to fix the problem. I've been connected for years and suddenly I am not

  • ahamoodahamood Member Posts: 1
    I was afraid when HR Block bought Wave. Ruined something great that was working so well. I have to find another accounting software now.
  • DERDER Member Posts: 1

    how would I know if my bank is not supported

  • davidsdavids Member Posts: 1

    Your article leaves out any way for me to figure out what error is occurring.

  • RailcarmoverRailcarmover Member Posts: 2

    Initial 12 months business was seamless, now struggle invoicing and customers payments rejected, forcing to move to another platform to stay in business

  • 1ATCISaccount1ATCISaccount Member Posts: 1

    I cannot resume the importing of transactions.
    1. It is NOT due to a problem with my bank's website. I can log in easily there.
    2. I have no notifications from my bank's website.
    3. Wave is recognizing my bank's name--I assume it is still supported.
    4. it is not a security MFA issue.

    Please help.

  • Patty_ReusePatty_Reuse Member Posts: 2

    My account no longer imports transactions either. This sounds like a systemic problem, given the number of complaints here...Manual import is a stupid resolution. that is the whole reason to connect an account and is a huge reason for systems like wave.:

  • Ginal1Ginal1 Member Posts: 1

    My bank is not importing either! I get a message that "Multifactor authentication is not currently supported" but my bank is not requiring multifactor authentication. I cannot get help from Wave!

    edited January 23, 2020
  • Lawn_Leaf1Lawn_Leaf1 Member Posts: 1

    There is nothing wrong on my banks end. It's your 3rd party who is choosing to only support the big banks. This is absolutely ridiculous. Unless yiou fix this I forsee a lot of customers leaving WAVE. It's unfortunate when the perfect site for small businesses to use now outsources to a 3rd party, utimately no longer supporting "small" businesses!

  • JoeVaracJoeVarac Member Posts: 1

    I sure hope the "Database update" fixes the problems with importing transactions. This is a huge issue. Does anyone have any answers?

  • davewarfeldavewarfel Member Posts: 12

    Lawn_Leaf1: "It's your 3rd party who is choosing to only support the big banks." -- I use Bank of America and I'm having all kinds of problems. Wave confirmed that Plaid, their new bank data provider, doesn't import transactions from individual credit cards when they are part of a corporate account. But Bank of America only lists transactions on the individual card... so I basically can't import any expense from my credit card... with BANK OF AMERICA!

    Even if I could, now I'm getting the "This financial institution is not importing transactions because an unsupported multi-factor authentication (MFA) is enabled." So NOTHING is importing. And I turned off MFA at Bank of America over 24 hours ago. Who knows how often they are trying to pull transactions (which is a whole 'nother issue in itself).

    JoeVarac: Don't hold your breath. I don't know exactly how Wave's systems work, but I think this database update is for their own database, and has nothing to do with importing transactions. That is all done via their third-party data provider, Plaid.

  • Andrew25Andrew25 Member Posts: 5

    Terrible upgrade Wave is now almost useless. My Royal Bank account will not connect

  • sheshesheshe Member Posts: 1

    My RBC transactions take forever to import (if at all). Sometimes, I get the same transaction imported more than once.
    I'm going to give them time to work out the bugs but I see one of their articles says imports can take up to 7 days. I can't wait that long as I need to do my accounting and bookkeeping on a more regular basis.
    I may have to turn to a competitor but again, I'll give them a month or so to work out the bugs.

  • LegionpostLegionpost Member Posts: 3

    I have 3 accounts to download and 2 are not downloading anymore. Same bank, different logins, totoals are correct but the transactions are not downloading

  • JimGJimG Member Posts: 1

    I am new to wave and right from the beginning I have experienced problems with Capital One credit card interface. All of out purchases are on CC which means we will have to enter all expenses manually. I can just use a ledger and be as efficient. Has anyone else switched to another accounting software that provides CC interface with not issues?

  • EmmaPEmmaP Administrator Posts: 299 admin

    Hi everyone, thank you for reaching out with your feedback. I'm sorry if you have been impacted by this change.

    Because we are unable to troubleshoot individual issues here I'd encourage you to reach out to our Support team so we can look into issues on a case by case basis. Some of you have reached out and are waiting for a response - I know it has been a long wait so we appreciate your patience while we work through the volume in this busy time of year.

    If you're unsure if your bank is supported, head to the Connected Accounts page in your account and search for your bank. If you are unable to find your bank it is not yet supported. In these cases you can use one of our upload methods to get transactional data into your account: Wave Connect & our CSV uploader.

  • cgaraicgarai Member Posts: 15

    I'll add my name to the list here. I'm surprised to see that there no responses from Wave staff.
    An update on the status would be helpful.

  • Kyle_CKyle_C Member Posts: 3

    Bank of America user here. Never a problem until now. It says everything is connected. Is this a "work the kinks out" situation or do I have to go elsewhere to do accounting? Right at tax time too....

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