In QuickBooks Online and QuickBooks Self-Employed, the Bank Error 103 is an error code that occurs
when there is a connection problem between QuickBooks and your bank account. This error typically
indicates that the login credentials provided are incorrect or that the bank requires additional
authentication.
What can be the possible reasons that you’re encountering bank error 103 in QuickBooks Online and Self-employed version?
There can be several reasons for encountering bank errors in QuickBooks Online. Here are some
common causes
1. Incorrect login credentials:
One of the most common reasons for bank errors is entering incorrect login credentials for your
bank account in QuickBooks Online or Self-Employed. Double-check that you have entered the
correct username and password for your bank account.
2. Bank server issues:
Your bank’s server may experience temporary connectivity problems or may be undergoing
maintenance. This may cause errors in connecting with QuickBooks Online or Self-Employed.
3. Incompatible bank account:
Not all banks and financial institutions are compatible with QuickBooks Online or Self-Employed
versions. You need to ensure that your bank is supported by QuickBooks and that you have
selected the correct bank during the account setup process.
4. Account-related issues:
Issues with your bank account, such as a frozen account, closed account, or account under
review can cause errors in connecting with QuickBooks Online or Self-Employed.versions. You need to ensure that your bank is supported by QuickBooks and that you have
selected the correct bank during the account setup process.
5. Connectivity issues:
Problems with your internet or network connectivity can disrupt the connection between
QuickBooks Online or Self-Employed and your bank account, resulting in bank error 103.
6. Outdated QuickBooks Online or Self-Employed software:
Running an outdated version of QuickBooks Online or Self-Employed may lead to compatibility
issues with the banks systems or APIs. Make sure that you are using the updated and latest
version of QuickBooks Online and Self-Employed.
7. Security features and two-factor authentication:
Certain banks require additional security measures like two-factor authentication or app-specific
passwords. If your bank has such requirements, you need to ensure that you have followed the
necessary steps.
How to fix Bank Error 103 in QuickBooks Online and Self-Employed version ?
Resolving bank errors in QuickBooks Online or Self-Employed may involve a combination of troubleshooting steps such as verifying login credentials, checking for bank notifications, updating software, reconnecting the bank account, and reaching out to both QuickBooks support and your bank’s support team for assistance.
If you’re facing Bank Error 103 in QuickBooks Online or Self-Employed which typically occurs when there is a connection problem between QuickBooks and your bank account, you can follow the following steps:
1. Verify your login credentials:
First of all, make sure to double-check your login credentials which include your username and password. Ensure that there aren’t any typing mistakes, spelling errors and extra spaces. You can always try logging into your bank's website directly to ensure that your credentials are correct.
2. Turn on third-party access to your bank:
Your bank may require your permission before you connect it to another service like QuickBooks Online or Self-Employed. If your bank require this permission, you can do the following:
Go to you bank’s website
Login to your account
Click on User Profile
Switch on Third Party Access in the Password and Security tab
Confirm by clicking on Yes
3. Check for bank notifications:
Your banks may require additional authentication steps or may have sent important notifications that you need to address. Log in to your bank's website or check your email for any messages regarding your account.
4. Update your bank account information:
If you recently changed your bank account login credentials, such as your username or password, you need to update the information in QuickBooks Online or Self-Employed. You can do the following:
Go to the Banking tab
Select the account causing the error
Choose the Edit (pencil) icon to update the login details
5. Clear cache and cookies:
Cached data and cookies in your web browser can sometimes interfere with the bank connection in QuickBooks Online or Self-Employed. Make sure that you have cleared your browser's cache and cookies. Then, close and reopen the browser and try connecting to your bank account again.
6. Try connecting from an incognito/private browsing window:
You can try re-connecting to your account from an incognito window. For this, you can follow the following steps
:
Open a new incognito or private browsing window in your web browser
Log in to QuickBooks Online or Self-Employed
Attempt to connect your bank account.
This step will help you in identifying if any browser extensions or settings are causing the issue.
7. Check your bank's website for any maintenance or known issues:
You bank may be undergoing any maintenance issues that may affect the connection with QuickBooks Online or Self-Employed. Visit your bank's website and check if there are any notices or alerts, wait until the issue is resolved and try connecting again later.
8. Contact your bank:
If the issue still persists after following all the above mentioned steps then you should reach out to your bank's customer support or technical team. Inform them about the Bank Error 103 you are encountering in QuickBooks Online or Self-Employed version. You can request assistance in resolving the issue.
The above mentioned steps should enable you to resolve the Bank Error 103 you’re facing in QuickBooks Online or Self-Employed version. However, if the Bank Error 103 continues to occur after following all the troubleshooting steps, it is recommended to contact QuickBooks Online or Self Employed support team for further assistance. They can investigate the issue in more detail and help troubleshoot the connection problem with your bank account.
Read More: Fix QuickBooks Error H202
FAQ:
A: Bank Error 103 is an error code in QuickBooks that typically indicates a connection problem between QuickBooks and your bank account.
A: Bank Error 103 can be caused by various factors, including incorrect login credentials, issues with the bank’s server, incompatible bank accounts, account-related problems, connectivity issues, outdated QuickBooks Online software, or bank-specific requirements.
A: Bank Error 103 can occur in both QuickBooks Online and QuickBooks Self-Employed, as it generally relates to the connection between QuickBooks and your bank account.
A: Here are some steps you can take to resolve Bank Error 103:
- Verify your login credentials.
- Check for bank notifications.
- Update your bank account information.
- Clear cache and cookies.
- Try connecting from an incognito/private browsing window.
- Check your bank’s website for any maintenance or known issues.
- Contact your bank for assistance.
A: To update your bank account information in QuickBooks, go to the Banking or Transactions tab, select the account causing the error, and choose the Edit (pencil) icon to update the login details.
A: If the error persists after following the troubleshooting steps, it’s recommended to contact QuickBooks support or your bank’s customer support for further assistance. They can provide specific guidance based on your situation and help you resolve the error effectively.
A: Not all banks and financial institutions are compatible with QuickBooks Online. It’s important to check if your bank is supported by QuickBooks Online and ensure you have selected the correct bank during the account setup process.