Egg Money Manager

trumbo · 11 July 2006 at 11:37AM

Thinking about signing upto this because I have an egg card and savings account..... and I'd get the free £10.

Anyone know if LLoyds allow you to view a standard current account through this program? is it safe?

Is it worth signing upto for a tenner......

Welliesorter · 11 July 2006 at 11:57AM

trumbo wrote:

Anyone know if LLoyds allow you to view a standard current account through this program?

If it's like the other account aggregators, Lloyds probably won't even know. These sites work by logging on to the internet banking site just as you would yourself. They then collect the information via 'screen scraping'.

I seem to remember there being an amendment to the Lloyds TSB terms and conditions to cover this kind of thing. If I remember rightly, it said it was OK to give your username and password to a recognised account aggregator.

Certainly the long-established My Yodlee service works fine with Lloyds TSB.

Paul_Herring · 11 July 2006 at 2:21PM

Welliesorter wrote:

Certainly the long-established My Yodlee service works fine with Lloyds TSB.

Works with AccountUnity aswell.

I would, however, suggest that you only add one account to Egg, since

(1) there's some confusion about what exactly Egg 'see and/or store' when you log in and their software logs you in to your accounts. (There's no question of them obtaining your login details to other institutions, however they can potentially see balances and whcih products you have with other institutions)

(2) If the Egg site goes down (not an uncommon occurance), so does your aggrigation service. If you intend to use something like EMM seriously, I'd suggest using another service. Wellieosrter apparently uses http://corporate.yodlee.com/moneycenter/index_postlaunch.html , I use https://www.ewise.com.au/accunity/aa/home.asp?DS=1&pid=accunity

Wellie - does yours allow you to store the password safe to a floppy/USB pen?

Welliesorter · 11 July 2006 at 6:51PM

Paul_Herring wrote:

Wellie - does yours allow you to store the password safe to a floppy/USB pen?

No. It's simply a secure web site so you are trusting Yodlee with all your passwords. It can be used for most financial institutions and other accounts, such as webmail and RSS feeds.

It's handy to be able to see all your accounts in one place but I wouldn't use it in preference to the banks' own online banking.

Yodlee are actually behind a lot of banks' own account aggregators: until a year or so ago, Citibank provided a UK-based service that actually used Yodlee.

kuohu · 11 July 2006 at 7:22PM

Can't answer your question re. Lloyds specifically but I signed up for it (for the free tenner) and have checked my Barclays online banking with it.

Welliesorter · 11 July 2006 at 7:56PM

Paul Herring's post prompted me to look at the AccountUnity site. It looks as if it's provided by the same company that provides the technology for Egg and HSBC:

http://www.ewisesystems.com/corporate/customers.html

I haven't investigated the Egg service so I can't say if it works in exactly the same way.

jonnyb · 11 July 2006 at 11:32PM

I use egg money manager for every account that I can get online with; it has worked almost perfectly for over a year; I love it.

15 separate accounts with 8 different banks / credit cards.

At the moment I don't have any accounts with LLoyds, though it does have an option to add accounts with Lloyds.

Paul_Herring · 12 July 2006 at 12:10AM

jonnyb wrote:

I use egg money manager for every account that I can get online with; it has worked almost perfectly for over a year; I love it.

A few times I've found Egg's login "out of order" so if I were relying on EMM, I couldn't have used it - hence my comment earlier to assign one account to collect the bonus, but don't rely on it (3 times inthe past month by my counting I've found Egg's site unusable when trying to balance accounts - granted this was late at night, but even so...)

jonnyb · 12 July 2006 at 12:41AM

Simple answer to your problems Paul - don't rely on Egg.
It is a very useful tool, but it does not mean I don't keep a record of all my financial website logon codes, to use on the individual websites if necessary.

I also use roboform to store passwords, so if Egg is down, I can log into Barclays, or Halifax automatically, without having to refer to my password file.

PBA · 12 July 2006 at 12:46AM

I'd imagine Lloyds, like most financial institutions, are happy for you to use aggregation software but won't be responsible if someone hacks into the aggregation sotfware and steals your details. In the case of Egg though they cover you against this anyway.

I personally do use Egg occasionally and find it to be fine, but prefer to log onto my banks individually as I can then access full details of my accounts, not just the current balance. I don't think you should worry about Egg, and certainly do it if they're offering you some cash for it!

jonnyb · 12 July 2006 at 12:49AM

At the risk of sounding like I'm on commission with Egg - I wish ! - it does more than just let you see your available balance. Once you are logged in, you can access every account exactly the same as if you were using their website totally independent from Egg.
I do everything - bill payments, transfers, standing orders.

Egg Money Manager

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