Moneylab connects your accounts by establishing a secure connection with your financial institution.
Keep in mind that Moneylab account connections are made by connecting to the Institution – so any open accounts you can access from the Institutions internet banking facility should be connected by Moneylab.
There are lots of opportunities to connect your accounts to Moneylab:
- after you register with Moneylab
- when you set up a new money priority
- at anytime by selecting add account from your Accounts screen
We explain how to access the add account process for each of the above situations further below.
Whilst it is possible to connect additional accounts to Moneylab at any time, it’s easier to connect all your accounts when you initially register. This will also make sure that Net Worth, Spending Reports, Safe Spending, Bills and Budget features are setup as accurately and as easily as possible.
In all cases, once you select the connect your accounts option, you are guided through the add account steps:
1. Select your financial institution
Here you can select an institution from popular choices or you can start typing the name of your financial institution and select it when you see it in the options provided.
You can also select from international institutions by selecting the International Services option (use the settings icon on the top right corner of the screen in iOS and Android apps to turn on international services if required).
One of the key benefits of Moneylab is the number of Institutions we can connect to. If an Institution you want to connect to doesn’t seem to be available, please let us know at firstname.lastname@example.org.
2. Enter you login credentials
Here you enter your User Id and Password and select Update (for mobile) or Continue (for web browser). When you enter your login credentials, these go directly to our our data provider Yodlee Inc, who establish a secure connection with your financial providers. Yodlee are a large US listed company providing financial data services to over 70 million customers world wide.
After you enter your User Id and Password the Moneylab system will try to connect with the Institution to determine what accounts exist and to import account balances and transactions. This will happen in the background, so you can continue to connect additional accounts while this is happening.
The Moneylab system will provide you with updates as it successfully connects with each Institution and imports account balances and transactions. Generally, it will take a couple of minutes to connect to an Institution and retrieve account details and transactions. If you have many accounts or lots of transactions, it may take 10-15 minutes to complete this process.
3. Review your connected accounts
After you have connected all of your accounts it can be useful to navigate to the My Accounts screen to see all the accounts that are connected and your balances, just to confirm that all accounts have been connected.
4. Getting help connecting your accounts
If you need help connecting accounts, please don’t hesitate to contact the Moneylab Customer Service team at email@example.com. You can also access lots of useful information from the Help Centre.
When can you connect your online accounts?
After you register with Moneylab
The first opportunity to connect your accounts is after you register with Moneylab and finish the "Get to Know You" questionnaire. You'll be presented with the option to connect your accounts and you can do so by selecting Connect my Accounts. You will then be directed through the add account steps
When you set up a new money priority
When you set up a new money priority (like Optimise my Banking or Manage my Spending) we will give you the list of accounts you have already connected and ask you if these are all your accounts. If you need to connect other accounts, you can select Connect new accounts and you will directed through the add account steps.
Adding an account at anytime
If you wish to connect accounts at anytime you do this by navigating to the Accounts screen. You can add an account by selecting:
- the plus icon if you are in the mobile app
- connect new account if you are in website
When you select to connect your account, you will directed through the add account steps.