I really want to start using Money Dashboard, but I’m concerned about giving you my bank details.

Money Dashboard has invested heavily to create a secure access environment.

We have had a full external audit of our security arrangements by Security Alliance, a leading security consultant that provides similar services for banks and governments. Money Dashboard does not store your online banking credentials (username, password, etc.) and the data is never stored by Money Dashboard.  In addition, the data is encrypted in transit. This information is stored by Yodlee. in a fully-encrypted form.

In addition, our service provides a read-only environment. Money Dashboard cannot be used for transferring money. In order to move money, you need to access your internet banking in the normal way.

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5 Comments

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    Brian Coburn

    its a shame not  to be have a simpler way to login its a horror to get access to the net address which i find difficult to get to via all the its worse than trying to get rid of all the scams that are out there this is why i hate google

    hogging the net with its fast track gobbly gook   

  • 0
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    John

    Hi,

    I'm thinking of adding a HSBC account but found the following in their terms and conditions:

     

    26.7. Account Aggregation
    If you use an account aggregation service, you
    may be liable for any fraud or mistakes that occur
    on your accounts as a result of using the service.
    An account aggregation service allows you to see,
    on one web page, details of the online accounts
    you hold with financial institutions. The service
    may be provided by a financial institution (with
    whom you hold an account) or through a website
    not owned by a financial institution.

     

    I assume most banks will have similar terms and as such am concerned about using the service.

     

    What are peoples thoughts on this?

     

    Thanks.

  • 0
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    James

    Simple way around this.... allow users to upload their csv exports from their banks... done.

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    Andrew

    very interested to hear the party line for Johns comment about banks stance on things with anti-fraud

  • 0
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    Alasdair Shepherd

    At least in the case of those HSBC T&Cs, they're not saying anything particularly harsh. They're not telling you not to use aggregation services like Money Dashboard, or that all fraud protections are null and void if you use them. They're saying specifically that if any fraud occurs as a result of using the service then you're liable. So if Yodlee ever goes evil (remember that Money Dashboard itself doesn't store your credentials for logging into the bank's site) and decides to start committing acts of fraud, or if they're hacked, then any money you lose as a result is your responsibility. Or rather, it's up to you to go after Yodlee (or Money Dashboard) for compensation, the bank won't do it for you.

     

    @Andrew I'm pretty sure the "party line" would be "It's up to you. Use the service or don't, you're the one who has to deal with your bank."

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