QuickBooks is Unable to verify Financial institution- causes and solution

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QuickBooks is Unable to verify Financial institution- causes and solution

QuickBooks is an ideal software to fulfill the accounting and financial needs of all business types. It allows you to perform your accounting and bookkeeping needs with ease and comfort. It is highly secure and reliable, and you can link your Bank Account with QuickBooks App for quick money transfers. Though sometimes the user might face an error where you see that QuickBooks is unable to verify the Financial Institution.

This article will enumerate what the causes are, what happens, and what are the possible solutions to amend the error.

Call Quickbooks Support Number

+1(855)548 3394

What happens during Error- ‘QuickBooks is Unable to verify Financial Institution.

When the QuickBooks user is importing a.QBO file into QuickBooks, you have to stop in between abruptly and an error message might appear saying

“QuickBooks is unable to verify the financial Institution information for this download. Please try again later”

You will see the below error message appear on your screen.

verify

Give a quick call at QuickBooks Enterprise support phone number and resolve the error immediately.

Causes of QuickBooks is Unable to verify Financial Institution:

Below written are few of the reasons that can lead to QuickBooks Financial transaction error. Have a good read about these so that these can be prevented in the future.

  1. The possibility that the online banking system and the user is using does not support a QuickBooks version that is older while the user is trying to import that .QBO file.
  2. The file has been imported is incorrect type of file, i.e. .QFX, .CSV, .IIF.
  3. The details that are used by the QBO file is either incomplete or invalid, as the QuickBooks is unable to comprehend data from the .OQB file, hence the details for formatting used by the user needs to be correct.
  4. In case there is a restriction of importing by the user’s financial institution on importing its data into QuickBooks, i.e. fi.intuit.com.
  5. The desktop version of the QuickBooks used is not the one that supports the data of the financial institute.
  6. There is also a chance that an error message may appear when a user tries to download a .QBO file from a financial institution. The error messages might be as follows:
  • OL-222
  • An error occurred while processing your online banking data
  • Your data was not imported in to QuickBooks
  • QuickBooks is unable to verify the Financial Institution information for this download

Ways to Resolve the Issue of QuickBooks Unable to verify Financial Institution

  • The user should use the Excel or notepad to open the QBO file before importing the QB online, to do that
             1. Open either notepad or Excel
             2. Move to line 20 – <BID> 2002.
  • Change to 3000 the last four digits
  • Simply Save the file and its important not to use the ‘Save As’ to save the file
  • Onto the QuickBooks upload the saved file.
  • Download the data from the financial institution’s website directly
  • Use a new file to test the issue by duplicating it
  • Review the download from the web .QBO, to see if there are any errors.

Windows 8/7/Vista users

Go to the Path- c:programdataintuitQuickBooks 20XXcomponentsolbbrandingfilist

 

Windows XP users

Go to the Path- c:documents & settings all usersapplication data intuitQuickBooks 20xxcomponentsolbbrandingfilist

  • Now search for the Bank’s name MB financial and look for ‘four set of numbers.’ You need to note the numbers.
  • Once on the notepad, open QuickBooks Online & look for <FID>,<BANKID>or <BID> and then change the numbers with the numbers there in the FIDIR. Once complete, save the changes as ‘.QBO’
  • Open Company file and try to import it

 

Hopefully, the article has been informative and has guided you well on the various aspects related to Error – ‘QuickBooks Unable to verify financial institution.’ If still troubled by the same error, then it is recommended to get technical assistance at QuickBooks Enterprise support number

We hope that we have been able to resolve QuickBooks Problem efficiently and effectively. In case you are having some issues regarding anything, contact QuickBooks Error Code Support at toll-free number.

Call Quickbooks Toll Free Number

+1(855)548 3394