tag:infinitekind.tenderapp.com,2009-01-14:/discussions/online-banking/8290-open-banking-in-ukInfinite Kind: Discussion 2019-04-09T13:40:24Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/445649972018-01-27T11:40:00Z2018-01-27T11:40:03ZOpen Banking in UK<div><p>+1 on this question!</p></div>James Allentag:infinitekind.tenderapp.com,2009-01-14:Comment/445649972018-02-01T16:21:16Z2018-02-01T16:21:16ZOpen Banking in UK<div><p>Hi Malcolm and James,</p>
<p>I'm happy to confirm that we are actively looking into adding connectively to Open Banking in Moneydance. Moneydance's lead developer has stated that this is at the top of his to do list. Once we have set this up we are hoping we will be able to access all banks enrolled in the service.</p>
<p>I have created a ticket in our system regarding the implementation of this improvement inn Moneydance. This will mean we are update you via this thread of any developments.</p>
<p>Ian O<br>
Infinite Kind Support</p></div>Ian Otag:infinitekind.tenderapp.com,2009-01-14:Comment/445649972018-02-11T18:24:22Z2018-02-11T18:24:22ZOpen Banking in UK<div><p>Great news. I had just searched for this very thing to see what MD was doing, having previously found so many threads asking about UK banking that could not be integrated.</p></div>JimRBtag:infinitekind.tenderapp.com,2009-01-14:Comment/445649972018-03-13T10:15:16Z2018-03-13T10:17:16ZOpen Banking in UK<div><p>Delighted that OBIE has been included in MD's "todo" list but disappointed that no further updates or roadmap waypoints released? OBIE was in public domain (conceptually) back in June2017 and API's/Specs released in Dec2017!!</p>
<p>I would at least expect some confirmation that MD have registered as TPP/Voluntary ASPSP as V2 R/W API's already released this month(March)?</p>
<p>Admittedly I've only been using MD since 2011 and accept that us UK users represent probably only a small fraction of MD customer base but I'm uncomfortable with having to supplement lack of MD functionality (due to UK Banks lack of "Direct Access/OFX") with the likes of Yodlee/MoneyDashboard as this currently requires disproportionate manual effort in CSV downloads/synchronisation and payment resolution between multiple accounts and Dance/Dashboard! :(.</p>
<p>Perhaps MD Dev can at least confirm that OBIE allows a non EU/UK TPP to participate at least with a R/O API set (waiver) so we(customer) can beta test MD-OBIE at the earliest opportunity?</p></div>tonysforumstag:infinitekind.tenderapp.com,2009-01-14:Comment/445649972018-03-13T11:32:36Z2019-01-27T12:02:00ZOpen Banking in UK<div><p>+1 as a Beta Tester.</p>
<p>Also can MD forum admin look at Malcolm Irwin's post please? I spoke via text with him about his private details being public but he was unsure how to get them remove. Could you obfuscate them for him please?</p></div>chris.d.lanetag:infinitekind.tenderapp.com,2009-01-14:Comment/445649972018-03-26T22:27:39Z2018-03-26T22:27:40ZOpen Banking in UK<div><p>Would someone care to enlighten me, please? I see that BankTree now offers a subscription service which purports to give a live download facility from personal current accounts held with several of the UK's high street banks - - and to my mind it's quite an expensive solution, really.<br>
Download transaction facilities appear to have been widely available in the US for a long time now - - what's prevented a similar roll-out in the UK?<br>
I'm contemplating migration to Moneydance - - but the amount of statement download and subsequent data manipulation to bring it to a common format is honestly somewhat daunting.</p></div>Davidtag:infinitekind.tenderapp.com,2009-01-14:Comment/445649972018-03-27T06:57:57Z2018-03-27T06:57:57ZOpen Banking in UK<div><p>Malcolm</p></div>Malcolm Irwintag:infinitekind.tenderapp.com,2009-01-14:Comment/445649972019-01-07T09:43:59Z2019-01-07T09:43:59ZOpen Banking in UK<div><p>@Ian O</p>
<p>Back in February 2018, you said<br>
"I have created a ticket in our system regarding the implementation of this improvement inn Moneydance. This will mean we are update you via this thread of any developments."</p>
<p>BUT this thread has been closed. Open Banking is fully launched in the UK. Please can you update on the latest developments?</p></div>JimRBtag:infinitekind.tenderapp.com,2009-01-14:Comment/445649972019-01-07T10:16:43Z2019-01-07T10:16:43ZOpen Banking in UK<div><p>I'm a fellow user.</p>
<p>Sean made a post in another thread about Open Banking, there is a problem in the current situation in that applications like moneydance cannot use it, but it appears that data aggregators can (Which to my mind is a security hole as you have to give the aggregator your banking username/password)</p>
<p>ahh I found his post:</p>
<p><a href="http://help.infinitekind.com/discussions/online-banking/11396-download-from-capital-one-360-broken/page/3#comment_46582632">http://help.infinitekind.com/discussions/online-banking/11396-downl...</a></p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/445649972019-01-07T10:22:52Z2019-01-07T10:22:52ZOpen Banking in UK<div><p>I am not support staff, just a user.</p>
<p>I looks like Sean is developing a different approach in Moneydance 2019. It will use an embedded Brower to connect to your bank and enable downloading of transactions to the associated account. It worked for me, with some small issues on my main Santander current account, but not when connecting to Barclaycard or other financial institutions I have tested. As Sean admits, still a work in progress.</p>
<p>Hope this helps</p></div>derekkent23tag:infinitekind.tenderapp.com,2009-01-14:Comment/445649972019-01-07T11:17:02Z2019-01-07T11:17:02ZOpen Banking in UK<div><p>Thanks. I'd searched using a few different terms but not found that. I think I'd discounted it as the title to me implied USA. <br>
I'll just keep using the bank Web site. At least MD lets me click to open my default browser on their login page. </p>
<p>On Mon, 7 Jan 2019 at 10:16, dwg<a href="mailto:tender+d86410d842@tenderapp.com">tender+d86410d842@tenderapp.com</a> wrote: #yiv3416833801 pre {width:92%;margin:10px 2%;padding:5px 2%;background:#efefef;border:1px solid #d6d6d6;}#yiv3416833801 blockquote {margin-left:0;padding-left:1em;border-left:5px solid #ccc;}<br>
|</p></div>JimRBtag:infinitekind.tenderapp.com,2009-01-14:Comment/445649972019-01-07T11:19:28Z2019-01-07T11:19:28ZOpen Banking in UK<div><p>Thanks. I seem to recall an embedded browser in quicken years ago. I'm not sure that gives much benefit over the current system of opening the login page in my default browser. </p>
<p>On Mon, 7 Jan 2019 at 10:23, derekkent23<a href="mailto:tender+d86410d842@tenderapp.com">tender+d86410d842@tenderapp.com</a> wrote: #yiv4971477152 pre {width:92%;margin:10px 2%;padding:5px 2%;background:#efefef;border:1px solid #d6d6d6;}#yiv4971477152 blockquote {margin-left:0;padding-left:1em;border-left:5px solid #ccc;} |</p></div>JimRBtag:infinitekind.tenderapp.com,2009-01-14:Comment/445649972019-01-07T13:39:58Z2019-01-07T13:39:58ZOpen Banking in UK<div><p>Hi Jim,</p>
<p>Yes, Quicken did have an embedded browser long ago. The benefit we see to using one now is that 1) it can automatically intercept and import downloaded files, and 2) we'll be able to automate it so that you can click a single button and Moneydance will be able to login, navigate, and retrieve your data. Although as dwg mentioned, it is still a work in progress.</p>
<p>As for OpenBanking in the UK, it is unfortunately not reachable by Moneydance right now because it require a third party service to actually be the one that connects to the bank. Because we don't want any customer data (especially financial data!) flowing through our servers, we're going to wait until Open Banking allows connections directly from software running on the customer's devices.</p>
<p>Thanks,<br>
Sean</p></div>Sean Reillytag:infinitekind.tenderapp.com,2009-01-14:Comment/445649972019-01-07T15:34:05Z2019-01-07T15:35:24ZOpen Banking in UK<div><p>Sean<br>
Thanks for the comprehensive update. Sorry you'll not (yet) be able to help us use OpenBanking. It is frustrating to you, and to me as a user that OpenBanking is not as open as was initially suggested when it was first mooted.</p>
<p>Good luck being able to automatically log in. Most banks seem to require random letters from passwords, and either random numbers from PINs, or a choice from various memorable items that have the same field name. My password manager cannot cope with random characters, nor with a choice unless I manually pick from the pop-up selection I have saved.</p></div>JimRBtag:infinitekind.tenderapp.com,2009-01-14:Comment/445649972019-01-07T15:53:41Z2019-01-07T15:53:41ZOpen Banking in UK<div><p>Hi Jim,</p>
<p>Yes, the automatic logging in will be tricky with all of the different variations that exist. I've already gotten it working with generic "enter the 1st, third, and second-to-last digits" style of prompts. We will surely have to drop back to manual login for some forms, especially as new ones are always being created. Some banks do actively work to avoid connections such as our own too. I feel that it's better than the alternative which would involve signing up for a service such as Yodlee which collects your login information on their servers to login on your behalf.</p>
<p>Thanks,<br>
Sean</p></div>Sean Reillytag:infinitekind.tenderapp.com,2009-01-14:Comment/445649972019-01-07T16:42:09Z2019-01-07T16:42:09ZOpen Banking in UK<div><p>Hi Sean<br>
I'm impressed.<br>
I absolutely agree that signing up for a third party service is a no-no if used just for MD. To me there is only a value if they are used as a one-stop shop for accessing many bank and building society accounts using one log in. I prefer to log in individually.</p></div>JimRBtag:infinitekind.tenderapp.com,2009-01-14:Comment/445649972019-01-07T19:57:17Z2019-01-07T19:57:17ZOpen Banking in UK<div><p>JimRB</p>
<p>I personally regard third party services as a no no full stop. Giving my Internet Banking username/password to anyone else is a security breach. Do these services indemnify you if they are breached and someone accesses your account and fraudulently takes money - I bet not - I do not see the banks supporting you either.</p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/445649972019-01-08T12:47:23Z2019-01-08T12:47:25ZOpen Banking in UK<div><p>From: Malcolm</p>
<p>Hi All,<br>
I’ve been using First Direct’s Internet Banking Plus as a means of quick, one step link to MD.<br>
FD’s Internet Banking Plus provides a single password access to all my Bank & Building Society accounts across multiple providers. All security info being only held in a local encrypted file hidden deep within my Windows 10. My understanding is that Internet Banking Plus is an ActiveX web application so might only work on Internet Explorer.</p>
<p>Only issue I have is that different Banks offer differing Download formats. I use the Quicken 2002 format for most providers but have found that the OFX format, when available, is best as it automatically chooses the correct MD account to download into.</p>
<p>Any advice on which the best download format is to use with MD would be greatly appreciated.</p></div>Malcolm Irwintag:infinitekind.tenderapp.com,2009-01-14:Comment/445649972019-01-08T13:37:56Z2019-01-08T13:37:56ZOpen Banking in UK<div><p>Hi Malcolm,</p>
<p>Thanks for bringing that up. So First Direct's Internet Banking Plus web app is provided by your bank but can connect to other bank accounts as well?</p>
<p>As for file formats, OFX is always the best format. QFX and OFC are basically the same thing as OFX (just branded for Quicken or MS Money) so work just as well with Moneydance. QIF is the next best, but doesn't specify unique transaction IDs so can result in duplicates. As you mentioned it also doesn't specify account information so you have to select the account manually. Of course, OFX, QFX, QIF etc are usually all called something different (like Quicken 2002, etc) that make it less than straightforward.</p>
<p>Thanks,<br>
Sean</p></div>Sean Reilly