Fix Money in Excel Cannot Connect to Banks with Two-Factor Authentication
Question details
Users are unable to connect Money in Excel to financial institutions that require separately configured multi-factor authentication.
- Product
- Microsoft Excel
- Device & OS
- not provided
- Scenario
- Attempting to sync bank accounts with Money in Excel when the bank has additional or user-configured two-factor authentication layers.
- Observed behavior
- The connection fails and produces an error indicating the account is not currently supported.
Ensure you have your standard banking login credentials ready and confirm your financial institution is on the officially supported list for Money in Excel.
Verify MFA Support Limitations and Submit Feedback
Understand Money in Excel's authentication limits and securely report your unsupported bank to Microsoft.
Money in Excel successfully supports multi-factor authentication (MFA) when it is required as part of a bank's standard sign-in process. However, it currently does not support additional MFA methods configured separately by the user.
If your bank requires this additional layer of security, the connection will fail. Disabling your bank's MFA is not recommended for security reasons. Instead, you should submit feature feedback directly to the Office team.
Review the official Money in Excel troubleshooting documentation to see if your specific bank is listed as a supported or unsupported institution.
Launch Microsoft Excel, navigate to the 'Help' tab on the ribbon, and click on 'Feedback'.
Select 'I Have a Suggestion' or 'Report a Problem'. In the description, clearly state that 'Money in Excel' cannot connect to your specific bank due to its MFA requirement.
Provide your email address if you wish to be contacted (optional) and click submit. Do not include any sensitive financial information such as account numbers or passwords.
Take Control of Your Finances Offline with WPS Spreadsheet
If third-party connection errors and MFA limitations are preventing you from tracking your finances, consider building your own secure financial tracker offline using WPS Spreadsheet. It offers a lightweight, highly compatible alternative to Microsoft Office without connection hiccups.
- 1. Download WPS Office: Visit the official WPS website and download the free WPS Office suite for your device.
- 2. Open WPS Spreadsheet: Launch the application and open a new blank spreadsheet or choose from hundreds of free financial templates.
- 3. Track securely offline: Input and categorize your expenses manually for complete privacy, bypassing bank connection errors entirely.
Frequently Asked Questions
Why does Money in Excel say my bank account is not supported?
This error frequently occurs if your bank uses an additional multi-factor authentication (MFA) method that you configured separately. Money in Excel currently only supports MFA if it is part of the bank's standard, mandatory sign-in process.
Should I disable my bank's two-factor authentication to use Money in Excel?
No. It is highly recommended to keep your bank's two-factor authentication enabled to protect your financial data. Do not compromise your security just to establish a connection.
Can I connect two different accounts from the same bank in Money in Excel?
Currently, Money in Excel does not support linking two distinct accounts (for example, your personal account and your spouse's account) located at the exact same financial institution simultaneously.
