How Yodlee bank feeds are updated in PocketSmith

Learn how syncing works for Yodlee bank feed connections in PocketSmith.

Issue with your Yodlee bank feed?

For troubleshooting any bank feed errors on a Yodlee connection, please check out this guide here: Troubleshooting Yodlee bank feeds


In this user guide

How your bank feeds are updated in PocketSmith

A few factors influence how your bank feeds and transactions are updated in your PocketSmith account.

1

Bank feed sync by PocketSmith: PocketSmith will attempt to update your bank feeds when you sign in to PocketSmith via the web or mobile application, and based on an automatic syncing schedule. However, the transactions and balances that PocketSmith can sync and display in your account depend upon the information Yodlee gathers, as described below.

2

Yodlee gathering transactions: Our data partner, Yodlee, usually gathers transactions for PocketSmith to import once or twice every 24 hours. This does not mean that they are automatically imported into PocketSmith, but rather that Yodlee has made transactions available for PocketSmith to sync. A result of this is that bank feed syncs made by PocketSmith might not always retrieve your most recent transactions, especially if those transactions were very recent.

3
Yodlee updating balances: Yodlee can access bank data to automatically import up-to-date balances roughly every 2-3 hours. Yodlee then stores the balance information, ready for whenever PocketSmith imports that information via a sync

Bank feed sync by PocketSmith

The frequency of automatic syncing for your bank feeds is determined by a schedule that PocketSmith sets for each user. This schedule changes depending on how often you use PocketSmith. For example, if you sign in to PocketSmith every day, your bank feeds will sync every 6 hours or so; if you only log in once a week, they may only sync once every 3 days.

You can also trigger a bank feed sync outside of the regular, automatic bank feed sync schedule by signing in to either the mobile or web app and following these steps: Trigger a sync for a bank feed connection

Note:

Even if your automatic syncing schedule is set to every three hours or you log in to the web/mobile app to trigger a sync of your bank feeds in PocketSmith, ultimately, the data that PocketSmith can sync at these times is dependent on the transactions and balance information that Yodlee has gathered into their database. 

Yodlee gathering transactions

Yodlee will attempt to gather transactions into their system once every 24 hours, where possible. This gathering process involves checking for new transactions, verifying pending and posted transactions from the past 28 days, and updating account balances in their system.
Yodlee won't gather transactions from bank feeds that require additional security information until that additional information is entered.
It is important to note that while account balances can be updated more frequently, transactions will only be updated once or twice in a 24 hour period.
Yodlee gathering transactions does not mean that your accounts in PocketSmith will be automatically updated. The updating of your transactions within PocketSmith is discussed above.

Updating bank feeds that use multi-factor authentication (MFA)

Only bank feeds that do not require additional security can be automatically updated. This is because many bank feeds use MFA (multi-factor authentication) when syncing.

Accounts listed as using MFA can only be synced (refreshed) by signing into PocketSmith via the web or mobile application, where you can enter your MFA information. Accounts that don't use MFA are automatically synced depending on your activity level and resulting sync schedule.

Note:

We recommend signing in to your PocketSmith account at least once every 4 weeks to keep MFA bank feeds up to date and ensure continuous data. Once a fortnight, or more frequently, is even better.

This is because when a bank feed syncs, it can only gather the past 28 days of transactions. As MFA bank feeds are only updated when you log in and respond to security information, you must log in once every 4 weeks, at a minimum, to prevent missing transactions. 


SMS or email alerts when bank feeds sync

If you have enabled SMS or email alerts for your online banking logins, you will also receive these messages when your bank feed syncs. Because Yodlee may sync your bank feed while you are not logged into PocketSmith, it is also possible you will receive these messages when you are not logged in to your PocketSmith account. You may like to consider disabling text alerts on your bank website, as these can be sent very early in the morning, depending on your time zone!

Note

If you receive an unexpected One Time Password (OTP) request while you are not logged into PocketSmith, please get in touch, and we’ll look into this for you.

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