What data do you access and how do you keep it safe?
If you choose to use round ups, we require these details to establish a secure connection with your financial institution on a read-only basis. Whether it’s a bank, building society or credit card provider, these details allow you to view your transaction history and round ups via the app.
Moneybox does not directly access or store your online banking login details. This is done through a partnership with Yodlee, a global leader in banking technology which has over 30m users worldwide and over 1m in the UK alone. When you enter your online banking details, Yodlee communicates with your bank and exports only your transactional data on a read-only basis. When doing this, Yodlee specifically excludes account or credit card numbers to further reduce risk.
Login details are immediately encrypted and stored (in encrypted form) by Yodlee in a separate database using multi-layered hardware and software encryption. This is the same technology used by banks and is audited and accredited by the US Government.
Further information relating to Yodlee services can be found in section 11 of Moneybox Term & Conditions.
If you have any questions, please get in touch.