Best Banks To Use With Ynab

Good evening everyone. I just thought I would reach out to the good folks who have using this platform for a while.

Let me start by saying I absolutely love this system and it has already been showing fruit in my budget.

Before I signed up I started transferring everything to an online bank, Capital One. Because I already had their credit card and that banking was highly rated. Also the interest on the accounts was better than what I was using.

I've been using YNAB for about 3 months now and I continually get frustrated by it's intermittent connection.

So my question to all of you is what banks do you recommend that connect on a reliable basis? If the bank is good and consistent I am not against creating an account for that bank. 

Thanks for your time.

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  • I think it really depends on what you need from a bank.  

    I use USAA, but not sure what the requirements are for them.  You used to have to be a military member (or retired military), but I think that has changed.  You'd have to check it out, but if you are eligible to bank with them, then they are a fantastic bank.

    Other than that, I like credit unions and have two linked to my account.  If  you are not opposed to credit unions, see which ones are in your area that you can join.

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  • I have a Charles Schwab checking account. It had one two week period where it wasn't working with YNAB due to the pandemic but other than that, it has worked flawlessly with YNAB. You can use any ATM as they refund you any extra charges at the end of each month. Also, no foreign transaction fees. However, it's a mostly online bank. I've never had to go to a branch so it's worked great for me. I also have a credit union that's worked great with YNAB but it's a region specific bank.

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  • Thank you for the feedback. I will check those banks out. I can see I have more people following than replies. I am curious as to why that is. I have seen several posts online with similar issues with Ynab's sync ability. That's is why I threw that question out there.

    I do have some connected accounts with so far Zero issues. But I would not want to use them as my Main banking institution. So please feel free to flood Ideas of Banks you know have zero Issues.

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  • I'm considering the Chase checking account because they have a good uptime rating with YNAB and because I have a credit card already. Like Scythe I use USAA but their banking platform never works with direct connect and they just disabled their download option so I'm thinking about making the switch now.

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      • Superbone
      • YNAB convert since 2008
      • Superbone
      • 5 mths ago
      • Reported - view

      Hot Pink Unicorn I've used Chase and they work fine with YNAB. I just don't like their minimum balances to avoid fees.

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  • I live in the UK, and YNAB doesn't offer bank feeds for us - personally I prefer it - it forces you to use YNAB the correct way, planning for the future, and adding transactions as you make them (phone app or on the web), which ensures your category balances are always accurate. If you purchase something then wait for the bank feed, the risk is you look at a category, decide you can afford something else, then when the bank feed catches up you'll find you've overspent a category.

    You also get an extra benefit doing it manually - when you reconcile against your bank statement, you can instantly see if there's any transactions you don't recognise - possibly fraudulent transactions if you've been unlucky. Relying on the bank feed to import everything automatically might cause you to miss these.

    So I'd advise - forget about the bank feed, enter things manually, and then go with the bank that offers you the best deal - lowest fees (preferably free) and best interest rates for savings. Also, always be prepared to switch to a better deal, banks (and credit cards, insurance etc.) almost never reward loyalty, new customers always get the better deals.

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  • Bank of America has seemed to work very reliably with YNAB. 

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  • Super late reply but I use ally checking and savings and when something clears ally it shows up in YNAB within hours

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  • I have my accounts through Genisys Credit Union, a local CU in Michigan and my sync connection hasn't worked since an update about a year ago.  Anyone know if that's something I can reach out to YNAB about or my credit union?

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      • Superbone
      • YNAB convert since 2008
      • Superbone
      • 4 days ago
      • Reported - view

      Pink Pegasus You can always reach out to YNAB and they'll look into it for you:

      Report a Bank Importing Issue

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    • Pink Pegasus yes, it is a big headache. I did reach out to YNAB, and their customer support was very helpful.  However, ultimately it is a problem with the middle man, that Plaid company that connects the bank with YNAB.  The customer service rep says my problem is not unique and that they are working on it. 

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  • For what it's worth, I have Bank of America and have had multiple years of headaches and continuous connection problems.  I have to ask though - shouldn't YNAB be managing the connections with the bank of your choice, rather than you switching to a bank that happens to work with YNAB? 

    I agree that the YNAB platform is decent, but I have continued to be amazed by their inability to connect with even the largest of financial institutions.

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      • Superbone
      • YNAB convert since 2008
      • Superbone
      • 3 days ago
      • Reported - view

      Green Piano They're just not very good at it so far.

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