Are you trying to either import or download transactions from your bank but facing the ‘Quickbooks is unable to verify the financial institution’ error? This is a Quickbooks Web Connect Branding error that occurs mainly due to an incompatible .QBO file. Read our detailed guide to find an appropriate solution for the problem.
Causes of ‘Quickbooks is unable to verify the financial institution’ error
Quickbooks is unable to verify the financial institution information for the download generally when the program has been denied from accepting the particular bank ID. The possible causes behind this error can be:
- You’re running an outdated version of Quickbooks and unable to import .QBO files.
- Unsuccessful integration between Quickbooks and your financial institution/bank/credit card.
- The .QBO file is not compatible with the Quickbooks version you are running.
- Your .QBO file is downloaded from a Canadian bank but imported to an American Quickbooks version and vice versa.
- Usage of a third-party app to create the .QBO file.
- Web Connect problems.
How to fix the ‘Quickbooks is unable to verify the financial institution’ error?
Quickbooks users have reported that the below-listed troubleshooting methods seem to resolve the ‘Quickbooks is unable to verify the financial institution…’ error.
- .QBO File Verification From Bank
- Switch To Classic Mode In Bank Feed Window
- Check Bank Notifications
- Create a Test Company File
- Rename the Financial Institution Directory
Let’s go through all of these troubleshooting methods one by one to solve the Quickbooks Web Connect Branding error.
.QBO File Verification From Bank
The Web Connect only reads the .QBO file. Hence, you will have to verify that the file that has been downloaded from the bank is a .QBO file. To download the file correctly, follow the process given below:
- Launch the Quickbooks Desktop Program.
- Navigate to Banking.
- Go to Banks Feeds and choose the Banking Center option.
- Search your bank and click on Download Transactions.
- A browser window shall open. Sign in to your Bank’s website.
- Finally, download the .QBO Web Connector file.
If you are having any problems downloading the .QBO file, you are advised to contact your bank for the necessary assistance.
Switch To Classic Mode In Bank Feed Window
Switching the banking modes can also enable Quickbooks to verify the financial institution. You can do so by opening the Bank Feeds section on your Quickbooks Desktop program. The process for switching bank modes is given below:
- Navigate to Banking on Quickbooks Desktop.
- Choose Bank Feeds.
- Now select the Change Bank Feeds Mode.
- Under the Bank Feeds section, click on Register Mode (Classic Mode).
- Try importing the .QBO file.
Once you have followed these steps, you will have to check the status of the Quickbooks Web Connect Branding error. If this doesn’t enable Quickbooks to verify the financial institution, move on to the next method.
Check Bank Notifications
Quickbooks might also not be able to verify your financial institution due to certain changes with the bank in terms of how it supports the Quickbooks Desktop program. Whenever there are such changes with the bank, you will receive a message or a notification. It is advised that you sign in to your bank’s website and check your notifications.
If the bank has stopped supporting Web Connect, you will be required to get it disconnected. Certain banks will also ask you to verify the verification process from the bank’s official website.
Create a Test Company File
To ascertain if the Company File is causing the ‘Quickbooks is unable to verify the financial institution…’ error, you can create another company file to import the transactions and test its functionality. To do so, follow the simple steps listed below.
- Open Quickbooks Desktop.
- In the top menu bar, click on the File option.
- Select the New Company option.
- Click on Express Start and enter the required details.
- You can name this file as a Test Company File so that it is easily identifiable later.
- Import the transactions in this test Company File.
Note: Transactions must be imported into the same account as your main Company File.
If the transactions have successfully been imported to the test Company File, the Web Connect Branding Error is occurring due to issues with your original company file. If the transactions have still failed to get imported, the company file is not the cause and the problem lies with the .QBO file that has been downloaded from the bank’s website.
Rename the Financial Institution Directory
- Locate ‘fidir.txt’ (Financial Institution Directory) and open the file with Notepad.
- Now open C:\ProgramsData\Intuit\Quickbooks20XX\Components\OLB\branding\filsit.
- Find the bank name.
- Locate 4 sets of numbers shown like this: XXXXXXXXXXXXXXXXXXX. Note these numbers down.
- Open the .QBO file in Notepad and search for ‘, ’
- Change the number next to ‘, ’ with the ‘fidir’ number you had noted down.
- Save the changes.
Once these steps have been successfully followed, you must open the Quickbooks Company File and try importing transactions again.
Still facing the ‘Quickbooks is unable to verify the financial institution…’ error? Get in touch with the Quickbooks support team and get the issue resolved instantly!
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