All in 1 banking app or is it a con ???

alykhalil1

Hi All,

Ref : All in 1 Banking app.

I have seen someone use it and also heard that there is an app that shows all your banking apps at once ????.... i am not sure of the name, but i guess it only allows to see the balance but nothing else more or else it would be a massive breach of confidentiality. 

Being the way i am and noisy, i do want to try it but dont know the names where to start? .....Has anyone of you experienced this? 

i thank you lot and kind regards

AK

Toothsmith

You're posting on the health & beauty section of the forum!

you'll get better answers on the tech section here

https://forums.moneysavingexpert.com/categories/techie-stuff

400ixl

If it is an aggregator app which is using open banking to bring together a read only view then provided you are comfortable with what they are doing with your data then they are safe enough. They are aimed at being budgeting apps but can also be used to sell you products.

If it is asking for your actually banking login's then run a mile as that would not be safe and would open you up for all sorts of issues with your banks and strip pretty much all of your protection.

Some examples are Money Dashboard and Emma

alykhalil1

Toothsmith said:

You're posting on the health & beauty section of the forum!

you'll get better answers on the tech section here

https://forums.moneysavingexpert.com/categories/techie-stuff

my sincerely apologies....

Zaul22

Yes Emma is an app that lets you see all your accounts and transfer money between them, and there are at least 3-4 other apps that do the same thing. You have to agree to open banking in every account you add to it.

Daliah

You can have similar functionality in all the major bank's apps. You even get it in the Credit Reference Agency apps, some of who try to lure you with the promise of a better credit score. In reality, your credit score remains as meaningless as before, and all they want to use your information is to sell you loans and credit cards.

Whether you use this functionality or not is entirely up to you. You have to authorise any displaying of balances and transactions, and obviously you also have to authorise any payment initiated through a third party app. No confidentiality is being breached.

alykhalil1

has any one got the link to the app ???....

Daliah

There's numerous ones. Your bank's app is probably one of them. Others include Emma, Money Dashboard, YNAB, Moneyhub, Koody, snoop, Plum, cleo.......each with slightly different functionality and objectives, but all working on the principle of aggregating all your accounts. Just be sure you understand whether a given app suits your requirements.

400ixl

You also have to be aware that not all banks support Open Banking at the moment so will not aggregate. Chase being one example.

400ixl

Zaul22 said:

Yes Emma is an app that lets you see all your accounts and transfer money between them, and there are at least 3-4 other apps that do the same thing. You have to agree to open banking in every account you add to it.

Not quite as Open Banking does not allow you to make transactions and if Emma could do it directly you would have to give it your login details which would a) be a stupid thing to do and b) breach all of your banks rules and remove any protection.

Emma has the ability to push you to your banking app if compatible to allow you to do a transfer in exactly the same way as you would without Emma. 

Just so people are not misled about the lever of access the App has to your financial information / transactions.

alykhalil1

WOW...SO MANY CHOICES ?....SO WHAT IS THE BOTTOM LINE, ?... WHO IS USING WHAT app (oh...sorry for the caps lock). I think i will install "Emma app" and see how that goes...or even the "money dashboard app" sounds good too....will they be available on Google play store ???