Error – QuickBooks is unable to verify the financial institution information for this download or Error OL-222. If you come across this error when a QuickBooks user is trying to exchange information from his financial institution i.e. Bank. You get an error while providing the Banking Information when trying to import the WebConnect files in QuickBooks to establish Bank feeds.

The notification message or error looks like the above image. This error is very common when your Bank does not accept the information provided in QuickBooks and gives you ‘QuickBooks is unable to verify financial institution for this download Error‘. QuickBooks cannot receive files from the bank or they are incomplete which as a result gives you this error.

Reason Behind This Error

When you see QuickBooks is unable to verify the financial information for this download error during the QuickBooks financial exchange. The root cause of this issue can be determined by rectifying the information provided in QuickBooks and by also checking with the financial institution. Sometimes this error pops out due to updates or services being deactivated from the bank. There are other reasons that can result in this error as follow:-

Incorrect Financial Information
Bank ID not activated
QuickBooks is not updated
Default Browser not updated
QuickBooks company file damaged

Before Using This Solution

Download & Install Latest QuickBooks Updates from the Update center
Update Internet Explorer to the latest release
Create a Backup of your QuickBooks company file

How to Fix Unable to Verify financial Institution Error for this download Error

Solutions to fix QuickBooks is unable to verify the financial institution error for this download in easy troubleshooting steps are as follow:-

Solution 1- Update Financial Institutions Directory

You need to update your Financial Institutions Directory (FiDir) manually or automatically in QuickBooks Desktop to ensure you have the latest information from your Bank.

Automatic Update

Open QuickBooks Desktop
Navigate to Banking
Choose Bank Feeds
Click on Bank Feeds Center
Click on Refresh account or sync all for this bank among the below options

Manual Update

Navigate to Start & Type fidir.txt and click on ok
Default FiDir file location for Pro/Premier & QuickBooks Enterprise

Enterprise – C:\ProgramData\Intuit\QuickBooksEnterpriseSolutions XXXX\Components\OLB\branding\filist

Pro/Premier– C:\ProgramData\Intuit\QuickBooks XXXX\Components\OLB\branding\filist

Rename the Financial information directory file format from .txt to .old and save
Now download & save the latest file for your QuickBooks version from the financial information directory according to the version info.
Move the downloaded file to the FiDir Folder location in your system and save it as a fidir.txt file.

Solution 2 – Download & Review the WebConnect File

Go directly to your bank website and log in to your banking accountant. Download the WebConnect file in .qbo supported format. Import the .qbo to the QuickBooks desktop and check if you are able to do that. If any error occurs you need to review the .qbo file.

Review WebConnect File For Errors

Download the .qbo file from your bank and open it with Notepad
Remove invalid characters, signs, and other strings for example

<John>Point of Sale Withdrawal JKSLD &#7192″;
<John>Point of Sale Withdrawal JKSLD

Ensure there are no missing tags or information in the file for example

Head Tag
End Tag
Length of the Characters
Incorrect Tags

Review Bank ID Number

The very common reason QuickBooks is Unable to verify financial institution information for this download error is when the Bank ID gets rejected due to incorrect information provided.

Download this Financial institution directory file and find out the 5-digit Bank Information Identification number for your Bank.

BID Information Directory 2023 US

Click & Paste on your address bar – https://ofx-prod-filist.intuit.com/qb2900/data/fidir.txt?_ga=2.233327577.676883500.1651908632-1077832541.1651908632

Locate your 5-digit BID number by finding your Bank Name using CTRL+F.
Save the .qbo file with the correct BID number.

After these steps import WebConnect File (.qbo) in QuickBooks.

Switch Banking Modes

Open QuickBooks, Navigate to the Banking option
From the Bank Feeds dropdown, choose Change Bank Feeds Mode
Switch to Classic Mode
Check if you still see the error when importing information from the financial institution

Conclusion

After performing these steps, hope you will be able to repair QuickBooks is unable to verify the financial institution for this download error. If in case you need assistance and the troubleshooting steps do not help. Contact QuickBooks error support experts at +1888-727-4587 to help you fix this banking error.

Verify and QuickBooks Rebuild Data Utility – QuickBooks Desktop

You may run across some data integrity issues on the QuickBooks desktop version, but it’s a known issue and can be fixed quickly. Within the software, you get QuickBooks features like QuickBooks Verify & Rebuild data utility to resolve any technical data hiccups you might be facing. QuickBooks rebuild data feature is a diagnose-based utility for QuickBooks desktop to detect errors in the data file.

Company File Errors Fixed by QuickBooks Verify And QuickBooks Rebuild Data Utility

Fatal errors that cause QuickBooks desktop to crash
Missing transactions or names from lists
Negative values in reports for bills or invoices
Missing accounts from balance sheet reports
Payments on the Direct Deposit window showing payments that have been deposited already

The above problems can be solved by running the QuickBooks verify and rebuild data utility. You may also use the tool to check if your date is free from errors.

What Is QuickBooks Verify Data Utility?

Sometimes, you might get an error that indicates that the backup cannot continue as the QuickBooks Verify tool has detected an error. Sometimes, verifying data in QuickBooks might not respond. Such issues are not uncommon and can be tackled using QuickBooks Verify Data Utility.

When you run this tool, it checks all the company files in QuickBooks to make sure they are in good shape and free from any data errors or discrepancies. The tool verifies every single file and can find broken transactions too.

Once the Verify Data Utility tool finds an error, it records it in the qbwin.log file so that you can crosscheck and fix the problem. Using this QuickBooks tool, you can prevent data losses by finding fatal errors before they can do any harm. The Verify and Rebuild Data Utility in QuickBooks work together to find and resolve such errors.

What Is QuickBooks Rebuild Data Utility?

QuickBooks Rebuild Data utility in QuickBooks desktop helps repair damaged company files. It attempts to either update data that is incorrect or repair it.

You may use the tool if you run into the following issues:

When you get a b-check error in the Verify Data Utility
When you get the ‘Verify data utility has failed’ pop-up message
If the QuickBooks support professional recommends you to run the tool

The QuickBooks Rebuild Data Utility helps fix major data errors before they can cause damage to your company files.

For instance, the tool can delete irreparable list entries or transactions that could threaten the data integrity of your company files.

It is, therefore, a complex tool and should not be used too frequently. Also, it is never a good idea to use the QuickBooks Rebuild data utility if your file is located on a remote drive.

You should always back up your files and take other preventive measures before running the tool to avoid data loss.

Moreover, when you rebuild your company file, you will see a message prompt to backup your data file. Also, You can use the ‘Backup Data to the Local Computer’ option for this.

How to use QuickBooks Verify Data Utility

The first step in the utility is the QuickBooks Verify data tool. You can check the integrity of your files by following the steps mentioned below.

Open QuickBooks Desktop and go to ‘Files’, then ‘Utilities’.
Choose the ‘Verify Data’ option.

QuickBooks verify tool will check for errors. If it does not find any issues, you can resume your work and need not use the Rebuild data tool.

But if you get an error message saying that your data integrity is lost, then you need to fix your file as it is not in a good shape. You can do this using the QuickBooks rebuild data utility.

How to run QuickBooks Rebuild Data Utility?

Again, before using this tool, make sure you have backed up the file to avoid permanent data loss. Now follow these steps:

Go to the ‘File’ menu in QuickBooks and choose ‘Utilities’.
Click on ‘Rebuild Data’ and click ‘OK’ on the next info window.
Now follow the prompts shown on the screen and make the right selections.

QuickBooks Rebuild data utility tool will then begin fixing the files and will also show you the estimated time for the process. Once it is finished, click OK.

Verify QuickBooks Data to analyze QuickBooks Data File Integrity

You may then run the Verify data tool again to make sure that the repair tool did fix all the errors successfully and that the integrity of the data is fine now.

QuickBooks Verify Data and QuickBooks Rebuild Data Utility is a powerful and extremely welcome feature in QuickBooks that can resolve a lot of major data integrity errors.

Contact QuickBooks Desktop Experts to help you with Verify & QuickBooks Rebuild Data Utility

After reading the article, If you’re still having trouble with QuickBooks rebuild data utility, you should get in touch with our QuickBooks desktop support team via toll-free at +1888-727-4587 or chat support before doing any troubleshooting yourself.

Tag: verify

QuickBooks is unable to verify the financial institution information for this download