G'day, I am considering opening an account with MYMONEY247. For the uninitiated, MYMONEY247 is an online financial budget planning tool.
It achieves this by the subscriber providing their banking, super, investments, expenditure and commitments and other personal financial information; including User ID's and Passwords for all acounts.
I have readup on all the security they provide including the YODLEE encyrption system which accesses all you account transactions and encrypts them before passsing on the data to MYMONEY.
The result is a comprehensive one-stop-shop providing real-time data about your financial situation.
Sounds great; even looks great. Being old school I have a fundemental issue with coughing up my private banking and other information. I guess I have worked hard for over 55 years and do not want to lose all that I have worked for.
Am I being over cautious? I bank over the internet, pay bills over the internet and think little of it.
Your thoughts would be appreciated.
Old Bloke trying cope with Technology