As time goes on, I am reaching the conclusion that this is a Chase thing. They have changed (updated) the way they transmit data to "Third Parties". This apparently can be ANY one other than their direct client. So Intuit is likely a "Third Party" under their new Data Sharing scheme. So now they get a "Substitute Account Number" instead of the real account numbers. Read the following (directly from the Chase FAQs:
" Do you share full account numbers? What is a substitute account number?
When you agree to share account numbers with a third party, we won't share your actual account or routing number. Instead—when necessary to allow transactions from eligible checking and savings accounts—we'll share a "substitute account number." This is a different account number that replaces your actual account number in each transaction to keep your details safe.
Authorized third parties can use substitute account numbers for same-day or scheduled transactions as long as you continue to authorize it.
For your security, you can turn off a substitute account number to prevent it from being used for new transactions. You can do this by disconnecting your account from the authorized third party.
"
(emphasis added in BOLD by me)
This is more security theater, which puts accountants and bookkeepers on the same level as someone selling Pokemon food. No details of what this means, and no ability to send ACTUAL account numbers even when the prompt asks if the client is OK with sharing actual account numbers. Deceptive language, leading to a the banking client being unaware of thie problem, as when inquiry is made by the accounting team, they will say "But I selected to share my account numbers with you guys!". Not knowing that this is what REALLY happens. This is all on CHASE at this point.
There is no granular data sharing options, with partially redacted data available to financial professionals. There is ONE setting. ON or OFF. I don't know exactly what these "Substitute Account numbers look like, but my complaint remains. I have many clients with personal and multiple separate business accounts at the same bank, so when there is a transfer, I NEED to see the {Partially redacted = last four digits of the destination account} Account number in order to know if this is a transfer to a personal account or one of their several other business accounts.
So now, in order to accurately record the transactions, I must log into the Bank while I am accepting transactions. I am copying and pasting the accurate bank details from the login window so there is at least some possibility of re-tracing any possible error if something goes wrong.
This is idiotic for a bookkeeper to have to do this. It's almost enough to go back to manually downloading the csv files and manually uploading them again, if this is what "Bank Connections" are going to look like going forward.
Bottom line, looks like the bad guy here is Chase Bank. They are providing (deliberately) distorted data to all "Third parties". This doesn't complete absolve Intuit. They have not been forthcoming about this situation AT ALL, if they even know what is happening (not even knowing is probably worse). I don't know exactly how much (if any) redaction they are doing on the back end, but this is NOT ENCRYPTION, as they have so disingenuously claimed in previous episodes. So their credibility has taken a massive hit with me.
Do they expect us to believe Intuit couldn't arrange a better connection than THIS for financial purposes? Intuit is not a small player in the Financial Services world. Anyway, they are dealing with Chase and Jamie Dimon, so I'm going to cut them SOME slack, but why can they not explain this situation when asked? This is not a very satisfying answer, but I just wanted to drop in and update anyone who is dealing with this, too.
(Personal opinion follows - please stop reading if hard truths offend you):
This just one more brick in building the competency crisis that is drowning our country in stupidity right now. Instead of preventing wrong-doing by punishing lawbreakers, we put stupid useless plastic covers on everything so everyone's job is harder, and say "Well, it's the best we can do. Deal with it." This is a half-assed solution to something that would be a non-problem if law enforcement was allowed to do their jobs and arrest and prosecute criminals.
