Yolt App

MrsLWW

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Hi all,

just wanted to share a great wee app I found. It's called Yolt - it's currently only for UK use. Basically you can add all of your bank accounts into the app and it gives you real time balances. It also has things such as spending categories, top merchants that you use etc.

I've been using it for the past few weeks and I have to say it's flipping great. It's by the banking group ING so security is no issue.

Just wondering if anyone else is using it, wonder what you think of it. Also hope it helps someone else.

L Xx

louloubelle79

Sound so very similar to Moneysashboard which I use. There is app also for it.

https://www.moneydashboard.com

louloubelle79

Should say moneydashboard

MrsLWW

I've been looking for an app like this for ages, an now there's 2 lol!

mrmajika

Been using money dashboard for years and really like it, but discovered Yolt off the back of an HSBC MSE news story last week. Yolt feels and looks better to me and i've moved over to that. The catagorisation doesn't seem quite as good, but other than that Yolt seems to suit my needs better.

Anthorn

Been looking at Yolt because it has been paired with Starling Bank but I don't see the value of it except that it will eventually be able to tell me if I can afford to pay what I usually pay next month.

I'm concerned about security. While I don't mind whacking 20 quid a week into the largely unproven Moneybox mobile app I'm dubious about connecting all my bank accounts to a similarly unproven mobile app. The question of security appears to revolve around Yolt being a product of Dutch Bank ING. Oh well that must be OK then? Not. Didn't ING's UK offering go under to be taken over by Barclay's Bank? And what price "bank security" when we know from recent memory that banks get hacked, c.f. Tesco Bank.

Overall I'll need at least two years track record before I look at Yolt again!
http://www.pocket-lint.com/news/141354-yolt-what-is-it-and-how-will-it-help-you-manage-your-money

wiseonesomeofthetime

Anthorn wrote: »

Been looking at Yolt because it has been paired with Starling Bank but I don't see the value of it . . .
I'm concerned about security.

Me too which is why I personally won't be going anywhere near it.

Good luck to those that make the alternative choice.

noh

Anthorn wrote: »

...................
I'm concerned about security. While I don't mind whacking 20 quid a week into the largely unproven Moneybox mobile app I'm dubious about connecting all my bank accounts to a similarly unproven mobile app. The question of security appears to revolve around Yolt being a product of Dutch Bank ING. Oh well that must be OK then? Not. Didn't ING's UK offering go under to be taken over by Barclay's Bank? And what price "bank security" when we know from recent memory that banks get hacked, c.f. Tesco Bank.

Overall I'll need at least two years track record before I look at Yolt again!
http://www.pocket-lint.com/news/141354-yolt-what-is-it-and-how-will-it-help-you-manage-your-money

ING's UK offering did not "go under" they sold it to Barclays as part of their strategy to pay back the bailout from the Dutch government. So no different to those UK banks who received government bailouts.

Anthorn

noh wrote: »

ING's UK offering did not "go under" they sold it to Barclays as part of their strategy to pay back the bailout from the Dutch government. So no different to those UK banks who received government bailouts.

So if it didn't "go under" ING Direct in the U.K. must still be operating. Not true. If what you say is true then Alliance & Leicester being sold to Santander must be part of their strategy too! More than that, RBS wasn't sold so did they not have such a strategy or did they have a different strategy?

In truth ING could not meet its financial obligations so it sold its assets which was ING Direct in the UK and that brings us right back to my reasons for not trusting Yolt ROFL

fanheater

The idea that you wouldn't trust Yolt because ING went under a decade ago is an odd one.

Nobody who uses Yolt is depositing any money with them. Nor has ING got a uniquely bad record for security.

Shakin_Steve

These free apps are just data miners. They will monetise the data they hold on you by sharing with anyone who cares to pay. The next logical step is targeted advertising, anything from savings accounts to Insurance policies.
If you are wary of your bank being hacked, imagine a database that has all of your bank, credit card and savings accounts, along with your spending patterns, being hacked
It’s a big NO from me. I can keep track of my finances all by myself, thank you.