What does the error unable to verify financial institution means and how to fix the issue be?
“QuickBooks is unable to verify the Financial Institution information for this download. Please try again later.” Have you received this pop-up on your screen while providing a bank ID? This error generally happens when QuickBooks does not accept a specific bank ID. So Here, in this article, we will discuss in detail the causes and solutions of this error.
The image shown below is similar what appears on your desktop.
Reasons and impacts of financial institution error
This error generally arises when QuickBooks accounting software denies accepting any particular Bank ID. As this error may take a toll on the productivity of an employee or an employer, It must be looked upon seriously. Thus, an immediate solution to this error is necessary. QuickBooks has gained massive popularity because of its efficiency and quickness. Also, it’s known to all that with as many features as QuickBooks has, any software may encounter occasional errors and glitches.
Solution for ‘Unable to verify the financial institution’ Error
Sometimes, even QuickBooks users may come across some issues while using it. When you get this financial institution error it is advised that initially, you should get in touch with QuickBooks error support team so that they can guide you to fix the error.
If you receive the financial institution error, you can try to fix it by changing the affected Bank ID that you were trying to provide and using a recognized QuickBooks fix error code in QuickBooks Online.
Note: Open QuickBooks Online Files in excel or notepad and follow the bellow mention tips to fix financial institution error.
Open QuickBooks Online file in excel or notepad
- Select line ‘20 – <INTUIT.BID>2002‘.
- Change the last four digits to ‘3000‘.
- Save the file using the keyboard or mouse, so that the changes are preserved.
- Now, ‘Upload‘ that file in QuickBooks.
Temporary Solution to this Error
If you are short of time and need a quick and temporary solution, you can do the following:
- Find the ‘fidir.txt‘ that is found in the first Folder.
- Open the ‘file‘ with the notepad.
- If you are using MS Windows Vista, 7 or 8, open – C:\ProgramData\Intuit\QuickBooks20XX\Components\OLB\branding\filist
- If you use Windows XP, open C:\Documents and Settings\All Users\Application Data\Intuit\QuickBooks20XX\Components\OLB\branding\filist
- Next, find the bank’s name ‘MB Financial‘, you will find 4 sets of numbers, that will appear like this “XXXXX XXXXXXXXXXXXXXX”
- Note the numbers.
- Open the file ‘.QBO‘ with notepad and search for ‘<FID>, <BANKID> or <BID>‘ and proceed to change the number next to the characters with the number given in ‘FIDIR‘.
- Save the Changes as ‘.QBO‘
- Open your Company file in QuickBooks and import it.
These steps should help you to get rid of the financial institution error. If the error still persists, you can contact the 24*7 QuickBooks Online Support team. We can look into the issue and offer you the quickest solutions.
Few other helpful articles you may like
How to convert your QuickBooks Desktop file to QuickBooks Online?
How to troubleshoot QuickBooks error code H505?