When you use our Online Banking feature, MoneyWiz doesn't connect to your bank directly -- we use an Online Banking Provider. That's a safer choice because we can focus on what we do best and let world-leading experts in bank integration field handle the heavy-lifting for us.
Traditionally finance applications pair with just one Online Banking provider. When designing this feature in MoneyWiz, we've decided to go not just one step further but several. That's why we currently support 3 Online Banking Providers in total, greatly increasing the number of banks we support. That's important because each provider usually has some area of expertise or focus so we give you the power of choice.
MoneyWiz supports the following Online Banking Providers:
- Plaid: offers amazing coverage in USA and Canada,
- Salt Edge (Partner): offers state of the art PSD2/Open Banking support in European Economic Area.
- Salt Edge (Original): provides support for non-PSD2/Open Banking connections, especially in non-English speaking countries.
- Yodlee: offers good coverage in English-speaking countries.
When you first launch MoneyWiz, we check your device regional settings (not your physical location or IP) to detect where are you based and automatically select the provider we believe will be best suited for your needs. This means that when creating an Online Banking account, you'll only see the accounts supported by the selected provider.
You can change the selected provider at any time though and it's perfectly OK to connect one bank from one provider, then connect another bank from another provider, etc. To change the selected provider, please go to Settings > Online Banking Provider. After changing this setting, you'll see banks supported by that particular provider when adding new Online Banking account and any previously connected accounts will continue to refresh just fine.