What To Do If QuickBooks Is Unable To Verify Financial Institution

What To Do If QuickBooks Is Unable To Verify Financial Institution

QuickBooks is a prominent accounting software for small and medium-sized business companies. QuickBooks connect with Banks or Financial institutions to provide you seamless services. But sometimes the QuickBooks Is Unable To Verify The Financial Institution and puts your work on halt. Here in this article, we are going to this issue and methods to resolve it. For further information, you can contact QuickBooks Support Phone Number +1888-557-5018.

What Are The Symptoms of QuickBooks Is Unable To Verify The Financial Institution or Web Connect import issue?

You will receive the below error message on your screen when the Web Connect import issue occurs:

  • QuickBooks found an error. We can’t read the file {Your financial institution} sent.
  • An error occurred while processing your online banking data
  • Your data was not imported into QuickBooks.
  • QuickBooks is unable to verify the Financial Institution information for this download.
  • QuickBooks prompts you to select a new or existing account when you try to download
  • No Error

When Does QuickBooks Cannot Verify The Financial Institution?

The Web Connect import issue occurs in the below-mentioned scenarios:

  • When the .QBO file is corrupt or QuickBooks cannot read the information written on web connect (.QBO) files.
  • Your financial institution does not support import into QuickBooks.
  • You are importing .QBO file into an older version of QuickBooks.
  • When you are importing a wrong file. QuickBooks only accepts a .QBO file.

Remember Few Important Things Before Troubleshooting

There are a few important things that you need to keep in mind before you start troubleshooting:

  • Take a backup of company file in QuickBooks.
  • Use an updated version of QuickBooks and internet explorer.
  • Select the correct bank account.

How To Fix The Issue When QuickBooks Is Unable To Verify The Financial Institution?

You can follow the below methods to resolve the web connect issues:

Solution 1: Download Directly From The Banks Website (Outside Of QuickBooks)

  • Open your bank’s website outside the QuickBooks.
  • Download .QBO file and save it on the desktop.
  • In QuickBooks open
    • File > Utilities > Import > Webconnect files
    • Search the file and open it
    • Follow the instructions on import wizard to complete the import of files.

Solution 2: Duplicate The Issue In A New Test File

  • Open QuickBooks File menu and then select New Company.
  • Select Express Start.
  • Add your bank account to the Chart of Accounts in the newly created test company.
  • Set up the record for Bank Feeds.
  • Now You can download or import the .QBO

Solution 3: Contact The Bank

You can contact your bank to provide assistance from the official who is familiar with QuickBooks. The banking official will resolve your issues.

Technical Support

You can contact QuickBooks Support Number +1888-557-5018 for resolution of any type of QuickBooks issues. Our dedicated experts are always available to resolve your QuickBooks issues in quick time.

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