Hi juwlz !
At the moment, our Direct Import partner doesn't technically support international banking institutions. However, they've been offering connections to some UK institutions as a test of that ability lately. If you see your UK institution listed, we hope you'll give it a try!
The Open Banking API may change things, and allow for more consistent connections across UK financial institutions, but we can't say for certain just yet! Time will tell and we're keeping our eyes on things! :)Reply
Your reply above about suggesting institutions made me go looking for the opportunity to suggest an institution (which I would have done for my own accounts if you had suggested it earlier).
I couldn't find it at first, so if anybody else needs to find where to do this, you have to try to add a new account, or link an existing account to a bank that isn't already supported before you get the opportunity to suggest a new one.
Faness When suggesting a new bank, the only information requested is the name of the bank and its URL. Do you want the bank's main URL (e.g. https://www.nationwide.co.uk/) or the actual page where customers login (e.g. https://onlinebanking.nationwide.co.uk/AccessManagement/Login - for most of their bank and savings accounts ) ?
For some banks, the latter may vary depending on what type of account it is. For instance, Nationwide also offers
Investment Portfolio service https://nationwide.onlineips.co.uk/Logon/Logon.aspx
Personal Finance Portal https://nationwide.mypfp.co.uk/logon?ReturnUrl=%2fReply
I've been on the look out for a replacement service purely for the linked online accounts in the UK. I don't want to go for an inferior product because they have one better feature. Is there any way we can be notified once our banks become available. Mine too is nationwide who have recently come out with an official open banking API.Reply
It’s frustrating YNAB is so slow to adopt this with UK banks and other institutions. Emma etc all have the facility for direct import from Monzo, Nationwide etc, but are not nearly as versatile as YNAB. Importing transactions manually is a real pain and it’s a shame - it would be perfect if this simple facility was available to UK customers.Reply
I'm in the same boat, UK integration would make a big difference. My use of YNAB has gotten less and less frequent due to having to do the import. I've not used it in a few months and now the task of importing and adjusting months of transactions is disheartening. Unless I can find the energy to sit down with it I might just cancel before my next renewal in September. It's a shame as YNAB really have given my economy a boost.Reply
Just to add another +1 for the better integration of UK banks - which would be so helpful.
I love using YNAB but you guys will have to make sure you get up to speed in this arena as the Open Banking API will start to change the game for the offering of similar services to yours within the UK in the near future. Lots of banks as well as independent FinTechs are working on such products.
If you miss the boat here I'm almost certain you'll lose a good chunk of your UK customer base.Reply
It is disheartening, but you don't seem to understand. The solution you appear to be giving hope to is not one a UK YNABer would want.
Gaining access to account data in the UK via a users credentials is unethical - you are forcing a user to violate the FCA's rules and their bank's terms of service.
This means the bank would no longer be responsible for the security of that user's accounting data.
If you don't clearly state that the solution you are claiming to pursue in this instance is not appropriate for anyone from the UK and that they definitely should not give you their financial log in details then you are doing a disservice to citizens from the UK.Reply
👍 for Open Banking support. My trial's just ended, and without a legitimate feed integration I just can't justify the subs when many alternatives are connecting up for free. I love the YNAB ethos, and unique capabilities, but as a busy family managing money across multiple accounts, the need to enter and categorise every transaction manually is too much of hurdle to justify the time and expense.
Please bring it soon!Reply
Any update comment from YNAB on this?
This is not a questionable matter of what is the right or wrong approach, it is very clear. We are all paying subscribers to your service, I've used and supported YNAB since the 4.x days. It is disappointing to see such lack of regard for our concerns and financial interests.
Which? have done a write up on OpenBanking and why its API access is far better, more secure and the most desired way of access this information.
As Spring Green Lion has mentioned, others are already beating you to supporting this. The worst part is we don't even see attempts to support this. YNAB is a financial software company, software APIs should be no difficulty for you, especially a financial one.
The OpenBanking page lists, along with the Which? article, the apps which are already supporting the API.
- Yolt - https://www.yolt.com/
- Money Dashboard - https://www.moneydashboard.com/
- Money Hub - https://www.moneyhub.com
- MoneyBox - https://www.moneyboxapp.com/
- To just name a few.
@YNAB please do let us know if you ever intend to implement this functionality, or if I should start migrating my budget away today?Reply
I'm a UK user and I was looking at Monzo bank this morning. They are trying to provide very simple budgeting in their service. I truly believe that companies should stick to what they do best. Ynab does budgeting really well, Monzo seems to do banking really well. Why don't you investigate a commercial partnership, they have over 1mil customers, and if they can offer all those a Ynab account using Open Banking support its a win win for everyone. All your UK customers will have a bank that offers Ynab for free/discounted through their bank and Monzo will gain loads of customers and stick to what they do best instead of wasting resources to build a competing product. I for one would drop my bank and switch on a whim for this. Who knows, maybe Monzo would be open to implement the integration for you. On a different subject, I've not read your security policy but I do really hope that you comply with GDPR when asking users for login credentials. If not the fines could cost you far more than implementing open banking API.Reply
so what's the latest on this all at YNAB. You promoted a service by a third party which we in the UK could sign up for and pay extra for direct import. So, it clearly can be done! What are the timescales for this service please - the number of organisations offering it is growing daily - I just do not understand what the issue is?Reply
Tomato Colt See Spring Green Lion s comment above. When nYNAB came out, they said they wouldn't reduce the price for international audiences despite us not having any sync support — it was our fault for being British (etc.) and they're being no support by banks. Now it turns out YNAB could provide sync support, but they still doesn't seem to be an effort to reduce the price or offer the support (presumably because it will cost YNAB money)
There is really only one conclusion: YNAB want international users to subsidise US users experience, and they'll do that by charging both the same for different quality of products.Reply
This is nonsense. Laws only apply to data if people are personally identifiable by the data (e.g. IP address, address, telephone) or it is sensitive or could damage a person if leaked (health, credit card numbers), and so on.
Aggregate numbers of numbers of people are not personal information, no-one could be identified *unless there is just 1 UK YNAB user, who as publicly identified themselves* (for example).Reply
I complained about this and asked for a reduced subscription. This is the reply I received
"I know that the lack of Direct Import support is a big pain-point for our UK YNABers, so thank you for letting us know that is affecting you as well. At this time the issue is that none of our Direct Import partners (we have three) currently support banks outside of the US and Canada, besides just a handful of institutions in the UK. (And even those they don't support well.) Since we don't do Direct Import in-house, we rely on our Direct Import partners to bring your transactions in, and so if it's not an institution they support, we aren't able to support it either.
(Not that it probably helps, but it's not just UK banks -- we aren't able to support every financial institution inthe US or Canada either.)
I also wanted you to know a little more about what goes into development decisions like these. Each feature request we receive is given a lot of consideration. The team answers questions like, “How many YNAB’ers will benefit from this?”, “Would it be more impactful than this other feature we’re working on?” and most importantly, “Is it in line with the YNAB Method?”
And since we’re a small company, time and capacity do play a big role in these decisions as well. We have limited resources, so we're simply not able to do everything at once, though we are always working to improve."
Basically, they can't be bothered with the UK market.
Meanwhile, I've tested loads of apps and think MoneyHub works best for me, although the budgeting aspect is not as rich as YNAB. I feel these other apps will catch up fast though.Reply
Don't want to move from YNAB just feel let down by trumpeting of Direct Import and then it's "except for you over there" and subscription goes up! Just having a look at EMMA. App only at present but web version in Q1 next year and user defined categories by end 2018. Very simple and quick connection to UK financial institutions via open bankingReply
I appreciate that they need to maximise their impact of dev money - I am in the same position professionally. So perhaps we can try to focus on getting traction with their direct import partners? Do we know who they are? Maybe we can lobby for the one with the best representation in the UK / EMEA markets to support institutions.Reply
All - as a long time ynab user that like a lot of you has grown frustrated at the lack of UK support, I've been looking at alternatives which until now have been frustrating. However, following a tip off from Gray Tape (thank you!) I've been using Moneyhub recently and I've got to say it's brilliant. Many of the alternative options I've found missing in different ways and although this isn't envelope budgeting it does offer an excellent intuitive experience with good options for budgeting, forecasting and tracking your spending. And the big plus being it's fully open banking compliant, you can put all of your UK accounts into (including mortgages) and it's very automated once you're setup. Really draws your attention to spending habits and budgets without being annoying. I'd strongly recommend it.
Personally I'll be cancelling ynab before the renewal is up - and I'm relieved to know that there are already, and no doubt will be lots more better alternatives like Moneyhub coming our way, and in the meanwhile I've got a great option which is far more intuive and offers a much better user experience than anything ynab offer. Check them out, be interested to know how you get on with itReply
Hello all! :)
I wanted to leave a quick link here to the Community Apps that Work with YNAB. The "Sync for YNAB" option allows for direct import with UK banks! While I know a number of you have shared your disappointment and plans to search for an alternative, I hope you'll give it a try!
If you have any questions, please don't hesitate to ask! :)Reply
I've decided not too renew my YNAB sub this year. I do love it as a system etc, but lack of direct import and multi currency support - and the cost - has made me question if there are other, newer kids on the block that could provide what I need.
Am interested to hear how moneyhub and Emma are working for people.
I downloaded Emma, but got a bit spooked by it's use of facebook's tech as a way of creating your account. I read facebook's FAQ on their use of the data provided and it's way too vague (surprise surprise!)Reply
I have started using Moneyhub and it looks like they do have some form of budgeting. For £1 a month and the UK Open Banking support I dont think I'll renew my YNAB sub either next time round. What I do like is the idea that you can set budgets and they will send you notifications when you're approaching limits etc all automatically based on your linked accounts. I dont ever use cash and after having travelled to the US I think our cashless behaviour is way more normal than what I experienced in the US. I use my cards everywhere even for purchases below £1 and the best of all is everything is logged on my statements.Reply