Why is my bank unable to import transactions?

Wave partners with a third-party bank data provider to import your transactions. Sometimes, our data provider experiences difficulties during this process, resulting in an error message within Wave. There are a few reasons why this could happen, but import issues usually indicate that your bank made a change to their website, and our data provider must update their processes to match it.

The bank’s website is down due to technical difficulties or maintenance

When a bank’s website goes down, our data provider is no longer able to import your transactions. You may see an accompanying error message on your bank’s website, but it’s also possible that certain parts of your bank’s site can go down without being immediately apparent.

For example, a bank’s website might be completely functional when you sign in to your account directly using their website or mobile app but not be accessible to third parties, like our data provider. In these cases, Wave has to wait until your bank resolves any issues on its side before transactions can import again.

Security updates

A bank may change their security processes behind the scenes, which can block third parties from accessing transactions. As a result, our data provider will have to update their systems to comply with these new processes.

Multi-factor authentication (MFA)
Multi-factor authentication (MFA) is a common example. MFA refers to a login security measure that prompts you to verify your identity in addition to the use of a username and password. For example, after you log into your account on your bank’s website, you may be asked for a verification code you receive via a text message.

While our data provider supports the use of MFA, certain types of MFA are not supported. This varies from bank to bank because different institutions implement MFA in a variety of ways. If your bank uses an unsupported method of MFA, our data provider will not be able to import your transactions. In these cases, Wave has to wait until our data provider adds support for the new method. Unsupported MFA types are rare, and our data provider is continually working to support all possible MFA types.

You must acknowledge a notification on your bank’s website

Your bank might notify you of changes or updates to your account using a banner, popup message, or other methods of communication on their website. These notifications can block third parties, like our data provider, from importing your transactions. Once you acknowledge these notifications, usually by clicking “OK” or closing the notification, our data provider can resume transaction import.

Your bank is no longer supported

In very rare cases, a previously supported bank is no longer supported. Reasons for this vary but might include the following, among other reasons:

  • Your bank decided to prevent all third parties from accessing its data
  • Your bank made a fundamental change to its systems, making it too difficult for our data provider to access transaction data

While our data provider will try to resolve these issues by working directly with the affected bank, a resolution isn’t guaranteed. These situations will have different estimated resolution times because of the varied nature of the root causes.

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