Types of RBS accounts supported on Money Dashboard
Accounts that do not have an Open Bank API connection with Royal Bank of Scotland will no longer be supported for new account connections. Only your RBS personal/business Current and Credit Card accounts will be available for adding. If you have previously connected your savings accounts/RBS Offshore accounts through credential sharing from our service provider, Yodlee, you will still be able to refresh these accounts.
Why is Money Dashboard discontinuing credential sharing?
Money Dashboard has always been at the forefront of the industry to push for the Open Banking initiative - working closely together with other industry players and the government to ensure that at the end of the day, our users gain ownership and control of their account information from the banks.
As we continue to work closely with industry leaders and the government to push for better quality and stable Open Bank API, a crucial step is to add pressure on banks to provide the Open Bank API across all types of accounts. For this reason, we have decided to discontinue support for new account add that is not supported by the Open Bank API.
We understand that this affects our users who have previously not connected their savings accounts and our doing our best to push for Open Bank API connections across all account types with bank providers. During this transitional period, we seek your patience and understanding.
The previously set deadline of 14th September 2019 is clearly behind and the Financial Conduct Authority (FCA) has introduced a six-month adjustment period until 14th March for banks to meet the requirements of improving API availability and stability.
If you would like to understand the Open Banking initiative further, the following article goes into more details:
Difficulty logging in
Royal Bank of Scotland (RBS) group banks (RBS, NatWest and Ulster) do not allow you to login to your online banking from a different device within 10 minutes of being logged in or partially logged in.
What this means for you:
- If you connect a RBS account to Money Dashboard whilst still logged into RBS Online Banking you will get a Concurrent Sessions error or a temporary 10 minute lockout from the your bank's site
- You will also see this error if you try to connect to Money Dashboard too soon after getting another error on a previous attempt
What you need to do:
- Make sure you are logged out of your RBS Online Banking, including the mobile app (if you have it) and wait at least 10 minutes
- Wait at least 10 minutes before trying again after an unsuccessful attempt
- If none of this works please contact support and we will get right on it