Poor bank support

Hi, all.

I use YNAB on my Desktop already for a while. I really like it. The limitation about the usage restrict to my desktop (I hate the mobile app for this version) and Dropbox sync (also hate it), among other things, made me consider the new Web based one.

One big annoyance, that I spend mostly of my time, is manually typing transactions from various accounts. That would be even greater than have a more mobile YNAB. But apparently YNAB supports only... US banks? Maybe some British one, but, well, then we have the rest of, let's say, planet, right?

I went to Wallet and Spendee and they both support all my banks, in multiple countries. On top of that I can use them for free if I don't want bank sync (the other pluses don't really make much difference for me), where YNAB I have to pay just to simply use it.

YNAB is, imho, still superior and more robust than those alternatives, but with this poor bank support I would rather keep the older version or migrate to some alternative solution. 

From my search I guess that Wallet and Spendee use the same provider for the bank import, which is simply great. They have plenty of banks in a lot of countries. Why not provide this option with YNAB?

From my point of view, based on the alternatives that are available (and their nice base of bank/financial institutions support),  unique points from YNAB, and being an old-version of YNAB user, I really think YNAB is way too overpriced. 

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  • Hey  Harry Knoener , thanks for letting us know this great feedback!

    Direct Import is probably our Top Priority in finding ways to improve it's reliability and flexibility. We think it's such a great feature and so powerful! In fact, it has the power to make budgeting seem seamless and beautiful....or really frustrating! 

    So we want to address it. 

    We've got some active plans right now in the works that we hope to unveil in the coming months and over the rest of the year. So be on the look out!

    At the end of the way, we realize how import direct import is, but our value proposition is so much more than that. We hope to give you great human service and a YNAB method that's supported with great content like podcasts and workshops! But the value is for you to decide, right!? :)

    I hope you'll stick around long enough to see us making some marked movement on the app. We want it to work flawlessly, too! 

    Let me know if you have any more questions or feedback. We love hearing it. 

    Reply Like 1
    • Dan at YNAB 

      Do you mind sharing your provider? I mean, you are not actually going for each bank and working on their API and stuff, I'm sure of it.

      Could you please tell me why you cannot use a similar provider as Spendee ( https://www.spendee.com/supported-banks ) and Wallet ( https://budgetbakers.com/bank-connections/ ) with their HUGE support list?

      Reply Like
    • Harry Knoener Hey man, it's here under the "Infrastructure" section
      https://www.youneedabudget.com/security/
      Finicity and MX

      Reply Like 1
    • jermany189 Is there a way to see the available banks from those providers? I couldn't find it on their website

      Reply Like
    • Harry Knoener Not sure on an initial glance of their websites.  They probably only discuss that with you if you're a potential client.  You could try e-mailing them to see if they support the banks you're concerned about. 

      Reply Like
    • jermany189 I think I will give it a shot, maybe to get from them if they have any plans to add the banks I'm looking for. Thanks.

      Reply Like
      • jenmas
      • jenmas
      • 1 yr ago
      • 1
      • Reported - view

      Harry Knoener back when the web version of YNAB launched at the end of 2015, Finicity had said somewhere on their website that they weren't planning on expanding their international bank support. It's 2018 now so they may have changed their mind.

      Reply Like 1
    • jenmas  It's becoming less and less likely that I subscribe to YNAB. The competitors I showed have support for the banks that I use in 3 different countries, whereas YNAB is lacking support for a single country that I use. Adding one bank, one country, already takes long, imagine adding all the ones that are already supported by the others. I REALLY hope YNAB consider moving to a different provider.

      Reply Like
      • jenmas
      • jenmas
      • 1 yr ago
      • Reported - view

      Harry Knoener You have to do what works for you. I have no idea if YNAB connects to any of my banks or credit cards since I do 100% manual input (I don't even do the file based import) and have been doing so for 4 years.

      (I also only use the web version for my business budget which only has about 5 transactions per month. I use the older version for my personal budget and the older version doesn't support any bank connections at all).

      Reply Like
    • Harry Knoener I'd give manual input a try. With the mobile app, it adds 30 seconds sitting in the car after getting groceries or whatever. When I'm getting gas, I set up everything about the transaction except for the amount while the fuel is pumping. When I go out to eat, it provides accountability that the waiter didn't decide on his own tip. I've been using manual input since August, and it hasn't let me down, and then I KNOW that every transaction in there is legitimate. I've caught a couple illegitimate transactions that I would not have caught if I were auto-importing everything.

      Reply Like
    • jenmas @jermany189 Don't get me wrong, I really like YNAB. As I explained on my initial post, the most time consuming task for me is exactly the manual input from the accounts that I have, which are a couple from different countries and currencies. All of them supported by the competitors. The only one that I cannot escape from is Cash. 

      I came from Moneydance before, which I left for the lack of development and updates for years. YNAB is a lot better, but again I was looking for a better solution since the bank manual input, among other small details, made me consider moving from the old YNAB. The new one was the straight answer, but then I came to check. It was surely a no go. Still is. Pay to have something that I have already, but in the cloud... Don't really see the point. For the moment keep manually using YNAB + sync with Dropbox will be the way until I find an alternative. I really hope that this alternative is YNAB (a couple weeks from now, for instance). The only reason I have not migrated for a different service is that all the ones with a good bank sync and nice service are way too simple for my taste. They are great for basic finance control, but for me they are way too basic. The second strong point is the time is takes to migrate from one service to the other. Go for YNAB 4 is a lot easier than a new service.

      About the illegitimate transactions, I don't even see how this is possible unless your bank has a mistaken transaction. You are basically importing an statement and then sorting, categorizing, etc. On my cash control I had problems, but not on my bank accounts and cards.

      Reply Like
    • Harry Knoener On the illegitimate transactions, it's been double-charges from businesses and a waitress thinking she deserved a higher tip than I wrote (just a couple of bucks, not anything that would have thrown a red flag).  Also, if your bank fails to notify you on card fraud or something, it's nice to have this as a back-up.

      Do you mind me asking how many transactions you have in a day?  The average person, if I had to guess, has around 5, maybe even less, so I wouldn't think that would take that much time, maybe 5 minutes total with all of the transactions through the mobile app.  I think your biggest obstacle is going to be the separate currencies, you're going to have to have multiple budgets for this if you're using different currencies, unless you're trying to play around with conversion rates and such within the same budget, which just seems like a nightmare in itself.

      Reply Like
    • jermany189 To be honest I'm not sure how many transactions I have per day. I don't usually do the reconciliation everyday. Let's say, with all cards, accounts, and cash, maybe 5+ a day, shared by my wife and I. But, as I said, this is where I spend most of my time. Every time I sit and open YNAB (and Moneydance), it's at least 30 minutes lost. I would say it would be 10 tops if I had the sync and I could do it easily everyday in less than 5.

      Sorry, but you are missing the point here. It's not that it's undoable, it's just that I don't see the point of paying a subscription to have no reasonable advantages. The bank, indeed, would be a reasonable advantage. I would that I could pay the whole subscription only for that. That's why I'm still considering going for a simpler/paid app (Spendee, Wallet, etc) just because that have this sync for all the banks I need. I is a nightmare to migrate from one app to another, it's not filing my finance control needs (as YNAB is), but this is how important it would be to have the bank sync.

      Another important thing that makes me mad is that the solution is already out there and working perfectly, it's not like I'm asking for some rocket science feature.

      Reply Like
    • Harry Knoener I'm not missing the point, I'm trying to offer you a solution that works, because hopes and wishes that YNAB will support your bank are just that until it happens.  You said yourself that YNAB is filling your finance control needs, so either you need to learn to adapt to what it is currently or you need to abandon it, I'm trying to help you work with what it is currently since you've said that you enjoy the software, because me echoing your thoughts on bank import won't do you a bit of good.  If you download the mobile app, you won't spend those 30 minutes at the computer each day trying to fumble through receipts and get your transactions entered, you'll spend 30 seconds in your car before you pull out of the parking lot entering the transaction into your cell phone.  I understand your frustration, but I've been manually inputting transactions since I've starting using it, and the only thing that really takes time for me is when I'm reconciling, and that needs only to be done however often you feel comfortable (I find a couple times a week greatly speeds up the process, takes me about 10 minutes to go through my 28 accounts).

      Reply Like 1
    • jermany189 Well, as I said, no point paying subscription for that. I will keep my old YNAB for now, although I'm pretty close to subscribe something else, just exchange some emails to check some features. YNAB is really missing out not becoming partners with SaltEdge. I heard from a developer of a competitor the price, and it's nothing for a YNAB-size company. They also already support Cryptos, which is HUGE for me. 

      You talked about to adapt... I prefer to adapt to another solution that might be a little simpler but has bank/crypto sync, among other small features than to adapt to, well, new-subscription-based YNAB. It's a pain, indeed, but I prefer to have this pain if I'm going to pay monthly for a service.

      Reply Like
    • Agent99
    • Working to Get Smart at budgeting, finances and life
    • Agent99.1
    • 1 yr ago
    • 1
    • Reported - view

    YNAB needs to have a conversation with Envestnet|Yodlee.  They are a major FinApps player and have account linking capabilities.  They work with many of the major banks.  

    Reply Like 1
    • Agent99 That's exactly what I'm talking about. The providers are already there, being used by other financial apps, don't see why YNAB can't use them. I still have some issues with the new YNAB, but let's say that they have "workarounds" that are acceptable, even paying a subscription. 

      Reply Like
  • Following this as I have been holding out for bank feeds / direct import in Australia since we moved here in 2011. Have been using YNAB since I can remember, and although I have tried every other finance app out there which supports Australian bak feeds, I can't bring myself to leave YNAB due to it's budgeting functionality. I too spend far more time than I would like manually importing transactions from numerous accounts (bank accounts and credit cards) - it's a huge time sink and to be honest a painful process. So the hint of this possibly changing represents a possible light at the end of the tunnel, for me and I am sure countless others. Please keep us all posted YNAB!

    Reply Like 1
    • Bart Kuiper We're happy to hear you're enjoying YNAB despite the manual import time sink! 😣

      While our current providers seem to be struggling with international bank support, we're still looking into alternatives! With the recent release of our API, a number of users have been able to program their own workarounds for international direct import.

      We can't make any promises, but we're hopeful this process will become increasingly easier going forward! :)

      Reply Like
      • Bart Kuiper
      • Holding out for Bank Feeds in Australia......
      • Bart
      • 1 yr ago
      • Reported - view

      Faness Than you for the update. Hopefully this gets addressed soon as you will likely find yourself with significantly more customers when it does :-) In the mean time are you able to point me in the direction of any info/resources in relation to the API, and how someone might go about leveraging that to get round this problem? Many thanks!

      Reply Like
      • Jannelle
      • jannelle_ynabsupport
      • 1 yr ago
      • Reported - view

      Bart Kuiper Of course! Here is the link for all you need to know. 😊

       

      https://api.youneedabudget.com/

      Reply Like
      • Bart Kuiper
      • Holding out for Bank Feeds in Australia......
      • Bart
      • 1 yr ago
      • Reported - view

      Jannelle Many thanks for that! So is it mainly just your customers who are also developers that have managed to utilise the API to work with non-US banks? Just wondering if anyone has posted details on how this was achieved?

      Many thanks,

      Bart

      Reply Like
    • Hi Bart Kuiper !

      Yes, at the moment, those who have dabbled with the API are customers who are developer-savvy. There are some threads in the forum where users discuss how they've managed to do some things, but not all of their accomplishments are listed. We hope to one day have a list of all the features users have created using the API.

      Reply Like
  • Hi Faness ,

    Ok thanks for the confirmation. I will take a look but will likely have to hold out until YNAB makes this part of the standard out-of-the-box offering.

    Holding out some hope given the comment by Dan around 5 months ago ("We've got some active plans right now in the works that we hope to unveil in the coming months and over the rest of the year. So be on the look out!").

    Are you able to advise if this is at least something YNAB is still actively considering / looking at? Many thanks!

    Reply Like
    • Bart Kuiper I believe Dan was referencing the third Direct Import partner we've added to the line up in an attempt to expand and improve the direct import experience. However, our new Direct Import partner isn't able to provide international support either. 😢

      We're still hoping to expand, so this will hopefully change some time in the future, but I can't give a set timeline.

      Reply Like
      • smarsh
      • smarsh
      • 1 yr ago
      • Reported - view

      Faness why not work with another direct import provider that supports international banks? Is it simply not high up enough on your list of priorities? 

      Reply Like
    • Hi smarsh !

      That's not it at all! Our second Direct Import partner offered connections to financial institutions in the UK. However, we ran into a number of difficulties - the connections weren't stable, they took longer to troubleshoot, some imports applied incorrect conversions that we couldn't avoid. A few UK institutions are still listed, but they're there with the caveat that our Direct Import partner is still working on better supporting them.

      Integration has proven tricky, but we're still working on improvements moving forward!

      Reply Like
  • Hi Faness Ok no problems - thank you for getting back to me on this, appreciated! We live in hope :-)

    For your Australian customers one option may be http://www.banklink.com.au/

    Best regards,

    Bart

    Reply Like 1
    • Bart Kuiper Thank you for the recommendation! Would you mind submitting it through our Feature Request form? That way our development team will have it! :)

      Reply Like
  • Hi Bart Kuiper Have you used the australian banklink site you posted at all?

    Overall my feedback on this topic would be that direct import would be really useful. I already use Xero for our business with direct imports and it so helpful to checkin everyday on spending. Otherwise our YNAB is not updated properly till the end of the week with manual imports and so our buckets are inaccurate for the week due to direct debits that go out which always change if they are in another currency. It also helps to catch unauthorised transactions or doubleups which sometimes happen. I would love to see this feature and have been waiting for it in Australia. We love YNAB.

    Reply Like
      • Bart Kuiper
      • Holding out for Bank Feeds in Australia......
      • Bart
      • 11 mths ago
      • Reported - view

      Turquoise Elk Hi there - sorry for the very late reply. No, I haven't used BankLink before you yes, looks like you are correct in that this is geared more towards accountancy businesses rather than consumers. I have however used several products which utilise AU bank feeds, including Moneywiz, Banktivity, Spendee, PocketBook to name the main ones. So as we all know AU bank feeds are 100% possible - but it comes down to who the software provider uses. Here's hoping YNAB look to engage one of the more robust integration services which support AU banks such as Yodlee (Banktivity uses Yodlee and it is certainly robust at least from my experience - I've not had any issues).

      Reply Like
  • Bart Kuiper said:
    http://www.banklink.com.au/

     For the banklink service it looks like you need to go through an accountant to access your transactions.

    Reply Like
      • Bart Kuiper
      • Holding out for Bank Feeds in Australia......
      • Bart
      • 11 mths ago
      • Reported - view

      Turquoise Elk Agreed - I only gave that a cursory check before posting. Yodlee would be the one to recommend to YNAB I think (robust and used by other apps).

      Reply Like
  • I have been a VERY LONG time Australian user of YNAB. Im still using version 4 as Im waiting for Australian banking support. To be honest until our banks are supported I would rather enter in manually than switch to an inferior budgeting software.

     

    Love YNAB but wont upgrade to a subscription base model until direct import for our banks is available.

    Reply Like 2
  • The Open Banking protocol is coming to Australia - Which forces all entities with a banking license to share their data via a standardised API including transaction data. Maybe YNAB should look it this, as it seems like you'd write the code once and then just configure it to work with each different bank

    Reply Like
  • Support for bank account feeds outside the US would be great!

    I really like YNAB and I hope they implement this feature soon.

    I've tried out PocketSmith which does support multiple account and currency imports - https://www.pocketsmith.com/tour/live-bank-feeds - Although the UI isn't as nice as YNAB.

    PocketSmith uses - https://www.yodlee.com for all their banking imports.

    Reply Like 1
  • + For Australian bank import as a major swaying factor to go from YNAB 4 to Subscription. We've been running the trial trying to get back into the swing and the manual import is just the biggest drawback. I'm budgeting because I'm poorly organised you think I can be organised to keep all transactions upto date manually??

    Reply Like
  • Is there any news on this topic or we still have the same poor bank support without any discount for us not using for the lack of better options?

    Reply Like
    • Hi Harry Knoener !

      I wish I had better news, but direct import for international financial institutions isn't in our plans for the immediate future. We're looking into alternatives and ways to improve, but it will take some time before we're able to make strides in this area.

      Reply Like
    • Faness Is it possible to have an idea what is in the immediate future? What about a discount for everybody not being able to use direct import? I'm sure this costs something, why do we have to pay for it? Another feature that you easily find in other players in the market and are not present in YNAB.

      Reply Like
    • Harry Knoener Right now, we're in an investigative state. We have an entire team looking into how we can better support direct import - both nationally and internationally - but they need time to decide on a clear course and even more time to implement it. We know this is important and we want to take the necessary time to get it right, especially considering our last two additions for direct import didn't go as we had hoped.

      We don't charge individually for any of the features available in YNAB. Currently, we aren't looking to divide YNAB into separate pricing tiers for different features. This could change in the future, but it isn't in the works at the moment.

      Reply Like
      • mopsis73
      • mopsis73
      • 2 mths ago
      • Reported - view

      Faness Current world population = 7.73B. Current Developed market  population = ~1.3B and growing rapidly. Current US population is 0.33B and growing 0.6%YoY. You are missing a massive trick here by ignoring the international segment...

      Reply Like
    • Hi mopsis73 !

      We do hope to be able to better accommodate the international market in the future! We're working on ways to improve direct import, but we have a long way to go before we're ready to expand to international financial institutions.

      Reply Like
  • I see some devs created this service in Australia, it hasn't launched yet, but they are taking interest: https://www.budgetfeeder.com.

     

    I checked the ABN and it looks legit registered etc.

     

    It's kinna sad that YNAB doesn't natively support us Aussie customers automated bank sync. I'm a huge YNAB fan otherwise.

    Reply Like 1
    • Purple Filly Seems like the development firm is Softweb and the profile of that business owner is on LinkedIn.

      Reply Like
      • budgetfeeder
      • Sync YNAB with Australian Banks
      • budgetfeeder
      • 1 mth ago
      • 1
      • Reported - view

      Hi Purple Filly , TPSReporter ,

      Yes that's right you've found me out! I am currently developing a product to automatically sync Australian bank transactions to YNAB.

      It's something that I am making to scratch my own itch. I've tried all the other budgeting apps and YNAB is still the superior option by far, it's just missing local bank feeds. Hopefully it will be useful to all the Aussie YNABers who are missing automated bank feeds.

      Reply Like 1
    • Alan Heywood I assume you are developing this via the YNAB API, and so that will ensure that transaction details and bank logins remain secure? Security would be my largest concern with this kind of plugin.

      Reply Like
      • budgetfeeder
      • Sync YNAB with Australian Banks
      • budgetfeeder
      • 1 mth ago
      • Reported - view

      TPSReporter Security is of the utmost importance here, and so the product uses a trusted third party to handle the banking side of things in a read-only manner. This is the same type of bank feed provider that YNAB itself uses to provide bank feeds in America.

      Budget Feeder never has access to, and hence never sees or stores banking credentials at any time.

      Reply Like
    • budgetfeeder - thank you for filling this (rather glaring) gap! I've signed up ready for when you launch.  Please update your website with more security info.   I tentatively clicked "try for free" hoping it wasn't a phishing scam, only to realise it wasn't 100% ready.  

       

      Any tips when we can expect it?  

      Reply Like
      • budgetfeeder
      • Sync YNAB with Australian Banks
      • budgetfeeder
      • 1 mth ago
      • Reported - view

      Hi Rod Prescott - thanks for your interest in the product! Like you, I was also looking for a way to sync my Australian Bank transactions to YNAB, and being a software developer I am in a position to make it a reality. I will certainly be adding more information relating to security before the product launches.

      In terms of when it will be launching, I hope to be able to invite a few customers in for a trial run within the next 2-3 weeks before a broader launch later this year, however this is dependent on a few different factors so just a guideline.

      Reply Like
    • budgetfeeder Hey, if I could also get into that trial, it would be amazing. I have Canadian bank accounts and Australian accounts.

      Reply Like
      • budgetfeeder
      • Sync YNAB with Australian Banks
      • budgetfeeder
      • 2 wk ago
      • 1
      • Reported - view

      Cornflower Blue Wildebeest Hey there, sure thing! You're welcome to join as an early adopter.  Please send me a private message with your details and we can take it from there.

      Reply Like 1
    • budgetfeeder don't see an option to do so through ynab forums, best way to get in contact?

      Reply Like
      • budgetfeeder
      • Sync YNAB with Australian Banks
      • budgetfeeder
      • 2 wk ago
      • Reported - view

      Sky Blue Camera you can reach me at [email protected]

      Reply Like
  • @ budgetfeeder I'd also like the sound of this. I'm considering using  YNAB and this would make it so much better. Would there be any additional charges?

    Reply Like
      • budgetfeeder
      • Sync YNAB with Australian Banks
      • budgetfeeder
      • 2 wk ago
      • Reported - view

      Gold Falafel Budget Feeder is completely independent of YNAB. To bring the product to market we have significant development, hosting, bank feed and support costs that we need to pass on. Pricing will be announced during the upcoming public launch. You can sign up to be notified when we launch at https://www.budgetfeeder.com

      Thanks for your interest!

      Reply Like
    • budgetfeeder At https://www.budgetfeeder.com, there doesn't seem to be anywhere to register, or a public launch date notice. Is there any info about information security and the trusted third party that the site uses?

      Reply Like
      • budgetfeeder
      • Sync YNAB with Australian Banks
      • budgetfeeder
      • 13 days ago
      • Reported - view

      Gold Falafel  thanks for the feedback. We're about to enter private beta testing, with a full launch expected some time in December. While you can't register for an account right now, you can enter your email address to be notified of the public launch. The website has been updated to give full details of how information is kept secure.

      Reply Like
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