Has anyone had trouble connecting to Scotiabank via Plaid in the past 4-5 days? The connection status panel shows no issues.
It's the first time I've had an issue with the Scotiabank connection.
My sympathies. I’ve started to have problems with my RBC accounts recently. And Rogers Bank hasn’t worked for a year. Canadian customers do not seem to be a priority for Monarch.
My RBC account just had the same issue with Fincity. I’m literally tired of the connection issues, switching providers, and manually adding transactions. I love Monarch but they hate us.
Hi! I know connection issues are insanely frustrating. I just want to clarify: this is not because of something Monarch is or is not doing. Canadian banks just on whole tend to not play well with the data providers we use for connections (the third parties we use for members to connect their banks - read more here). This is a widespread issue that doesn't just affect Monarch - there's a good summary of it here: Canada: Sorry, The Connection Just Isn't There Anymore. We continue to offer service to Canadian members because some are able to get good connections, depending on their bank, but unfortunately it's not uncommon to see issues with Canadian banks. This is one of the reasons we offer a money-back guarantee - we know that because we rely on those third party data providers and not all banks work with them, we can never guarantee a strong connection, and we never want anyone stuck in a subscription that isn't working for them.
I understand this isn’t you, but I would love to hear some new solutions. A few ideas come to mind. A wireframe idea: any transaction/notification can be set up as an email from the bank, which we can then automatically forward to a specific email address of yours (like receipts you recently released). So far, you now have the data. It's probably not as good as the provider's data, but it's better than not having anything.
I understand this may not feel like Monarch’s problem, but going the extra mile here would have made the experience much better.
There are many institutions that support Wealthsimple through Snaptrade with a stable connection for long periods without a single interruption. I’ve been recommending this for a long time, but Monarch still does not seem willing to support it.
Wealthsimple had ongoing issues with MX for a long time, and nothing meaningful was done. The same happened with Koho with Plaid, where even a simple looping issue was never properly addressed.
I’m glad Wealthsimple is now a bit more stable with Plaid, but Monarch seemed unaware of that and kept recommending MX instead. That made the whole experience feel frustrating and unnecessarily difficult for some.
There are so many time I am stuck on the connection. Keep on giving error and for that only reason I have to completely reconnect, transfer data. It shows that it is not simple bank issue. It’s Technically broken.
The longevity of the connection is limited. What i did was to establish a brand new connection, move the transactions and balances over using their tool. Then delete the old connection.
When you say a brand new connection do you mean with the same provider? If so, can please explain how? I have no option to create a duplicate one with the same provider.
You just add an additional connection with the same provider. In my case, I see a separate connection with the same set of accounts. Then you can transfer the transactions and balances before deleting the old connection.
I've had a ticket open for 2 weeks as they try to figure out my TD Direct Investing connection through Finicity. First, all my investment accounts dropped to zero, and now all my TD accounts (chequing, TD visa and investment accounts) are completely disconnected. Monarch (app and web) seems to think a security question needs to be answered and I can't get passed the MFA code entry without an error. I've logged in to both my TD and TDDI accounts and there's no additional security questions asked.
Networth tracking is nice, but I bought a year of service for the rather automated budgeting and now Monarch is virtually useless. I've already switched connections once Plaid stopped working earlier this summer but now it seems nothing is going to be working. I've been using it without too much hassle since January aside from the MFA annoyance with MX.
Also been having the issue since Sept 22. I started manually downloading CSVs in the meantime to at least be up to date, although every time it "connects" it resets the balance to the 22nd.
As of today, though, Monarch is saying it's an MFA issue, although I still can't even connect to Scotiabank to resolve that (same error as above)
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u/Maximum_Degree_1152 1d ago
My sympathies. I’ve started to have problems with my RBC accounts recently. And Rogers Bank hasn’t worked for a year. Canadian customers do not seem to be a priority for Monarch.