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Budget app question

(8 Posts)
Proudtrout Sun 05-Nov-17 10:06:35

I’ve just downloaded OnTrees as I really need info in one place to make sense of my finances.....but it’s asking for my full bank passcode- even the bank only asks for two digits of it....just wary of putting that info out there and they have a disclaimer saying I might not be covered for fraud with the bank if I hand over those details.

Anyone use it and love it or anyone think it’s also dodgy??

moggle Sun 05-Nov-17 17:37:49

I assume your bank asks for a different two digits every time so they would need all of them to be able to log in. I'm a bit unsure about these aggregators for the reasons you say... however It looks like the rules are changing from Jan as I've been getting new T&C from all my banks in the post recently and they seem to say you can give details to these type of aggregators and you won't necessarily be liable for fraud as long as you are taking reasonable care.
Personally I use You Need A Budget and I put everything in manually when I use my cards.

Proudtrout Mon 06-Nov-17 09:05:53

Thanks moggle...I’ll look up that app too and see if I can face entering stuff manually and just call my bank and see what they say!

moggle Mon 06-Nov-17 11:12:32

Before you start, with YNAB there is a free month but then it does cost about £30 a year. You can put recurring payments like bills in so you don't have to remember those, but things you buy during the month you need to add in. However it is also an agregator and does have some UK bank accounts on so you may be able to set some up to go automatically if you decide you're ok with that (but it's an American app, so I don't know if banks here would be happy with giving details which are presumably stored over there).
I like entering purchases as soon as I make them rather than waiting for them to show up on my banking a few days later as then I know how much money I "truly" have at any given time!

LillyLollyLandy Sat 11-Nov-17 14:34:44

I use YNAB but I’ve never put my bank details in. I’m quite happy doing a manual update every couple of days.

JoJoSM2 Sat 11-Nov-17 21:44:17

I’d probably work out a different system and giving away my details would make me feel vulnerable.

Proudtrout Sun 12-Nov-17 14:24:07

Thanks. After more thought I’ve decided no way I’ll be giving my bank details to a third party. Might be a bit more admin but feels like a safer option.

Secretprincess Fri 24-Nov-17 21:49:52

The app you are looking at uses "screen scraping" to access your data, it needs your full password etc so it can log on as you. Your bank won't be able to tell the difference. Also, the firm offering the app will not be regulated. from January 13th new laws come into place giving you more protection. I'd choose an app which connects to your account using an API instead of screen scraping, You won't need to share all your details that way

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