Yodlee and the bank feed service
PocketSmith uses a service called Yodlee to provide bank feeds within PocketSmith. This user guide outlines further information about Yodlee and the expectations of the bank feed service.
In this user guide
Why PocketSmith uses Yodlee for bank feeds
PocketSmith uses Yodlee bank feeds because they are the most reliable method of providing automated transaction imports into PocketSmith ⚡️
There are two ways software can access transactions from banks: direct feeds and third-party bank feeds. Direct feeds exist where a bank has a relationship with the software provider, whereas third-party bank feeds are connected via bank feed providers like Yodlee.
We'd love to connect to banks directly; however, the overwhelming majority of banks don't offer this as an option. Thankfully, bank feed providers developed their own technology to connect to banks and download transactions on behalf of the customer. This allows them to provide connections to a wide range of banks. Thanks to Yodlee, PocketSmith can connect to over 12,000 banks and institutions worldwide! 🌏
Yodlee bank feeds are read-only, and you can read more about our security practices, including for bank feeds, on our Security page.
Expectations of our bank feed service
We are confident in our bank feed provider Yodlee to provide a reliable service connecting to bank feeds and importing transactions. However - due to the nature of bank feed aggregation (as opposed to building direct feeds with the bank) to import our users' transactions into PocketSmith - on occasion, we experience issues with bank feed connections or imported transactions.
If your bank feed encounters an error, it's often temporary, or can be resolved by user action. Please check our Troubleshooting bank feed errors guide to find out more about the different errors that may arise.
If an error cannot be easily resolved, we can open an investigation with Yodlee to identify and resolve any bank feed problems. However, because we can not guarantee that bank feeds will work perfectly 100% of the time, we recommend that users compare transactions with their online banking to ensure, or identify, whether their transactions have been imported correctly. We are happy to assist with this process, but it’s important that anyone who is using the PocketSmith software is informed that issues beyond our control do occur with bank feeds.
Once we open an investigation with Yodlee, we are not given a timeframe for how long they’ll take to resolve the issue. Many issues can be solved within a few days; however, more complicated issues can take many weeks! Where possible, we will keep our users informed with any information about the progress of the investigation.
Sometimes bank feed problems are user account-specific. This means that the issue is not related to a known current bank feed issue, and unfortunately, we can’t predict when one-off incidents of this type will occur. When these incidents are brought to our attention, we provide Yodlee with as much information as possible and keep users informed.
Tips for keeping your bank feed up-to-date
- We recommend logging into your PocketSmith account at least once every 28 days to ensure continuous data in your account. For more detail, see Keeping your bank feed up-to-date in PocketSmith.
- If your bank feed encounters an error, it's often temporary, or can be resolved by user action. See Troubleshooting bank feed errors for advice on clearing bank feed errors.
Alternatives to the bank feed service
The choice to use bank feeds is up to you!
If you'd prefer not to use bank feeds, we also offer an alternative for importing your transactions with bank files instead. To learn more about using bank files, please see: Bank files