Here you can find a breakdown of the different ways Moneyhub connects to your accounts.
There are three ways you can connect your account to Moneyhub.
Direct Connection
Open banking connections are a direct link between your bank and third-party services, allowing them access to your payment accounts such as current accounts, credit cards and some savings accounts. This is made possible by the Payment Services Directive 2 (PSD2) which only covers payment accounts and aims to improve competition and consumer protection in the financial sector. The use of open banking provides consumers with more control over their financial data and enables new innovative financial services.
For more information about what PSD2 is and how it affects access to your financial data, check out our article Your financial data and PSD2.
Indirect Connection
This is an indirect connection that with your consent relies on a third party called Yodlee, who through a secure process retrieves your account data (balances and transaction history) via Screen Scraping. This is used for pensions, investments, loans, mortgages, and some but not all savings accounts.
For more information about how to connect a direct or indirect account to Moneyhub, check out our article Connect an account.
Manual Connection
This is an account that you create and manage manually and is a great option if we do not support your specific account or provider. This account type will not update automatically.
More information about how to set up and manage a manual account can be found in Create a manual account.