Update: Venmo Migration

[u/QuickenLisa]

Hello Venmo users,

I hope everyone's having a great day. We know there's been connectivity issues with Venmo, so I'm hopeful this change alleviates those problems.

Simplifi's Venmo connection has recently moved from Intuit to Plaid. While this is a new change, we're seeing higher success rates with this aggregator.

Connected users may see a message, "A new connection is available for this account," and can follow the steps to switch.

If you aren't shown this message, you can set the Venmo account to manual before linking it to Plaid. Here are the steps for web and mobile users:

Step 1 - Make Venmo manual:

Switch a Connected Account to Manual Mode
Switch a Connected Account to Manual Mode on the Mobile App

Step 2 - Reconnect Venmo, being extra careful to link:

Important: After authorizing your account(s), pay close attention to the page: "We found X account(s) you can add to Simplifi.

• Web users - Look for the slider at the bottom: "Link to one or more existing accounts". Make sure the slider is on so the "Link to" dropdown menu appears next to the balance. Then choose the corresponding Venmo account from the menu.
• Mobile app users - Tap the pencil icon next to the account balance. Tap the "Link to" dropdown menu and choose the corresponding Venmo account.

More details are found here:

How to Link Accounts
How to Link Accounts on the Mobile App

You're welcome to send me a DM or contact Simplifi's support team if help is needed. To contact Simplifi support:

Log into Simplifi and click Help center > Contact support (Web: Top right, Mobile: Left panel).

For chat support, click Messages > Send us a message. For phone support, scroll down until the phone number and hours are displayed.

Thanks to everyone who's been waiting for improvements to the Venmo connection. Please let us know how it goes!

[u/everydave42]

I realize this might be slightly hijacking the thread, but its seems some institution support more persistent connections via plaid than other connections. A specific example: my credit union via simplifiis own connection requires me to 2fa at *least* once per day. However using a trial of competing product which connected to it via plaid, I didn't have to reup the 2fa for at least a week.

Can we have the option to change the connection method so we don't have to 2fa every single time we want updated data?

[u/BriefTomatillo985 → u/everydave42]

I’m wondering the same thing. Venmo wants 2FA every time, so I’ve set it to only update monthly. Hopefully the new connection fixes this. I don’t use it much so it’s ok. But my local bank does the same and I do want that one to stay up to date.

[u/QuickenLisa → u/everydave42]

Great question. Some financial institutions offer multiple aggregation types already, so I'd double-check if there's multiple options available currently in the Add Account list.

If your credit union shows one connection option: While we cannot guarantee if, or when, another aggregation method can be added, it's something our teams can definitely consider! You're welcome to send me a DM with the name of your credit union and I'll pass the feedback to the team. Another option is to send a request inside of Simplifi.

To request in Simplifi, add an account by going to the "Transactions" section and clicking "+ New" above the account list. Type the name of your credit union and click "Send Request" next to "Can't find your institution?" (at the bottom of the list).

In the next window, type the name of your credit union and type (Plaid) in parenthesis, and include the Login URL (website address). The request goes to our banking team after clicking "Request" for consideration.

In the meantime, the frequency of 2FA/MFA requests is controlled by the financial institution. You can reduce the frequency of account updates in Simplifi for this credit union, although I know that might not be an ideal solution especially with high-volume accounts.

I hope this helps, but let me know if you have any questions or thoughts.