You may have noticed, when logging onto most (not all) online banking or credit card accounts there is a time and date confirming when somebody last logged on. Prior to signing up for Money Dashboard this would have been the time that you last logged onto the online service itself. However, since signing up with us you might have noticed that this date is normally within the last 24 hours.
This isn't a fault, or a sign that anything is going wrong. Instead it's a direct result of how Money Dashboard securely updates and aggregates your accounts. We use a well established company called Yodlee Inc. to do this for us. When you add a bank or credit card account with us we pass your security details directly to Yodlee through a secure system. We never see nor store these details and once they are with Yodlee we cannot access them.
Yodlee use your security details to log on to your account so that they can gather the balance and latest transaction details that have been added to the account. When they log in the time is recorded, so that you can see the last time they updated your account (Yodlee usually do this daily so you only see the last time they logged in if you haven't logged in direct to your bank or credit card account for a few days).
Sometimes users ask us for confirmation that the last log in was done by us or (to be completely accurate) Yodlee.
How do you know it's Yodlee? Take a note of the time your bank account shows that it was last accessed. Log on to your Money Dashboard Account. Go to My Profile and then Accounts. Underneath the information about any account is the date and time that it was last accessed by Yodlee. This information should coincide with the information you have from your bank. If they don't, then click on Refresh All at the bottom of the pane. After that the times should match.
If you are still worried that the person accessing your account is not Yodlee then please feel free to contact us at [email protected]. Once you have provided us with appropriate security information we will be happy to confirm when Yodlee have accessed your accounts.
A very small number of users, who have created more than one account with us which aggregate the same bank accounts, may have to repeat the Refresh All process with all their MDB accounts until they determine the MDB account information which matches with the information on their bank account.
by Peter Downie, Head of Risk & Compliance
