One of the most important things to remember is that mymoney247 is not a transactional service and it is not possible to transact on any of your accounts or move your money through the mymoney247 service.
To ensure all your data is safe, we adhere to rigorous industry standards for transmitting sensitive financial information. We protect all data using advanced 256-bit encryption, equivalent to that used by banks. We do not store any of your bank login details on our server.
Your data is provided to us by Yodlee, a global leader in banking technology. A company with over 70 million users worldwide. Many of the worlds leading financial institutions use Yodlee technology to deliver online services to you because of their exceptional credentials in bank-level security.
mymoney247 is not a transactional service like a bank. It is a service that gives you great ways to view your data and manage it through innovative tools. No one (not even you) can move or remove money from your financial accounts via mymoney247.
mymoney247 increases your financial security. With mobile and email, you can choose to be notified of upcoming bills, budget tracking and even unusual activity or changes in your accounts. You'll feel confident about having a 24/7 watch on your money, even if you can't.
mymoney247 starts by connecting to your bank accounts, credit cards, loans, superannuation and investments. It does this by asking you to link each account using the password details for that account. The connection to your bank is managed by Yodlee, a global leader in banking technology with over 70 million users worldwide. Many of Australia’s leading financial institutions use Yodlee technology to deliver online services to you because of their exceptional credentials in bank-level security which is audited and accredited by the US government. Once entered, any login and financial institution details you give us are immediately encrypted and stored (in encrypted form) by Yodlee in a separate database using multi-layered hardware and software encryption.
We require these details just once so we can establish a secure connection with your financial institution. Whether it’s a bank, credit union, mortgage account or super fund, these details allow us to retrieve your balances and transaction history. Once retrieved, we quickly and automatically categorise your transactions, giving you a complete financial picture.
When you enter your bank account login details Yodlee communicates with your bank and exports your transactional data. Yodlee delivers us your transactional data omitting any account or credit card numbers so you can view your data in our tools. For more information visit our Security FAQs.