How to Fix QuickBooks Error OL-206?

QuickBooks Error OL-206 appears when users try to update bank accounts using online services. It generally occurs due to issues with the bank’s servers or misconfigured settings in QuickBooks. This error can stop you from connecting to your financial institution, leading to delays in updating transactions and account balances.

This guide explains what causes QuickBooks Error OL-206, how to identify it, and the exact steps to fix it. You will also learn how to prevent it from reoccurring and how to get expert help if needed.

Watch this quick video to learn the causes and solutions for QuickBooks Error OL-206.

What is QuickBooks Error “OL-206”?

QuickBooks Error OL-206 is a banking error that usually occurs when QuickBooks fails to receive a proper response from the bank’s server while using Direct Connect. It may also appear if there’s a mismatch in your login credentials or if the bank’s system rejects the connection due to outdated setup or service disruptions.

Why does QuickBooks Error “OL-206” occur?

QuickBooks Error OL-206 typically occurs due to one or more of the following reasons:

• The financial institution’s server is down or undergoing maintenance.
• QuickBooks is not updated to the latest release.
• The bank account is not properly set up for online services.
• Incorrect login credentials or outdated connection configurations.
• Your internet connection is unstable or restricted by firewall settings.
• Your bank has changed its server, URL, or supported services.

How can you identify QuickBooks Error “OL-206”?

You can identify QuickBooks Error OL-206 through the following signs:

• An error message appears while updating your bank account in QuickBooks: “QuickBooks is unable to verify the financial institution’s information for this download. [OL-206]”
• Transactions are not downloaded or updated.
• QuickBooks crashes or becomes unresponsive during online banking tasks.
• You are unable to establish a new connection with your bank.

What are the steps to fix QuickBooks Error “OL-206”?

Here are the verified troubleshooting steps to resolve QuickBooks Error OL-206.

Solution 1: Check Internet Connectivity

Ensure that your internet connection is stable and not restricted by any firewall or antivirus settings.

1. Open a web browser.
2. Visit your bank’s website.
3. Check if you can log in using the same credentials.

If the bank’s site is down or inaccessible, wait for the institution to fix the issue.

Solution 2: Update QuickBooks to the Latest Release

Running outdated versions may lead to compatibility issues.

1. Open QuickBooks Desktop.
2. Go to Help > Update QuickBooks Desktop.
3. Click Update Now and install available updates.
4. Restart QuickBooks once the update is complete.

Solution 3: Refresh Online Banking Connection

Resetting the connection often resolves the error.

1. Open the company file.
2. Go to Banking > Bank Feeds > Bank Feed Center.
3. Select the account showing the error.
4. Click Refresh Account.

If prompted, re-enter login credentials.

Solution 4: Reconnect the Bank Account

Disconnect and reconnect your bank account if the error persists.

1. Go to Lists > Chart of Accounts.
2. Right-click on the affected account and choose Edit Account.
3. Click Bank Feed Settings > Deactivate All Online Services > Save.
4. Close and reopen QuickBooks.
5. Repeat the steps and click Set Up Bank Feeds to reconnect the account.

Solution 5: Create a Test Company File

A test file can help identify if the problem lies within the company file or not.

1. Open QuickBooks > Go to File > New Company > Express Start.
2. Add the same bank account to the new file.
3. Try updating transactions.

If OL-206 does not appear, the issue may be specific to your main company file.

Solution 6: Contact Your Bank

If all troubleshooting fails, contact your bank’s online support.

• Confirm your account is enabled for Direct Connect.
• Ask if they have made recent system updates or URL changes.

Is there an automated tool to fix QuickBooks Error “OL-206”?

QuickBooks Tool Hub offers automated tools to fix various banking errors.

1. Download the latest QuickBooks Tool Hub from Intuit’s official site.
2. Open the Tool Hub and select Program Problems.
3. Run Quick Fix My Program.
4. Restart QuickBooks and check if the error is resolved.

How can I prevent QuickBooks Error “OL-206” in the future?

To avoid this error:

• Keep QuickBooks Desktop updated.
• Maintain a stable internet connection.
• Regularly verify login credentials.
• Use the bank’s supported method (Direct Connect or Web Connect).
• Avoid using VPNs or restricted networks while performing online banking.

What if QuickBooks Error “OL-206” is not fixed after troubleshooting?

If the error continues, it might be due to deeper configuration issues in the company file or on the bank’s side. In such cases, technical support is the best option.

How can our experts assist you in resolving QuickBooks Error “OL-206”?

The Error Code Experts team can help you fix OL-206 and restore online banking without data loss. Our team provides:

• Direct troubleshooting via remote access
• Error-specific resolution for OL codes
• Secure connection setup for online banking

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