Money Manager Update
On Monday, May 8th, 2023, our Money Manager feature within online banking will be updated. Customers who use Money Manager will be required to re-link their previously aggregated accounts using the new system. Accounts that were aggregated using the old system will be marked as closed/inactive and will no longer be updated.
Why the change?
In today’s world, we have more financial accounts than ever before – and it is important to keep all of your financial tools in one spot. This brand new state-of-the-art aggregation system will offer you the following:
- Access to more financial tools
- Increased reliability
- Latest security protocols
- Transaction history access for the previous 180 days (instead of 90)
This upgrade will require users to re-link/re-enroll their previously-aggregated accounts using the new system. Accounts that are not re-enrolled once the Money Manager has been updated will no longer receive updates after May 8th. The linked documents below will provide the introductory details and recommended steps you need to take to begin preparing for this upcoming transition.
Before re-enrolling the accounts for use in the new Money Manager module, users will need to select one of the methods below to avoid duplication of previous transaction activity when viewing their goals, budgets, etc.:
- (Recommended) Archive the account within the new Money Manager before re-enrolling it. This removes the 90 days of transaction history on the “old” account, BUT up to 180 days of transaction history will be pulled in when the account is re-enrolled.
- Use the filters available for each feature within the new Money Manager to hide historical account data (those marked as Closed / Inactive on the conversion date).
Why are these steps needed?
- For security purposes, account numbers are NOT stored for third-party accounts. Accounts that are marked Closed on the conversion date are considered a separate account and cannot be “related” to the re-enrolled account.
- For budgets, goals, custom tags/descriptions, alerts, etc., users will need to update the account to which they are tied or create a new one. For example, if a user has a goal that is connected to internal and external accounts, the goal will still be visible after the conversion, but the external account must be re-added. If the goal was only tied to an external account(s), though, the user will need to create a new goal after the conversion.
- Investment accounts can be linked using the new module for viewing balances and transactions. Position data, stock details, etc., will not be available with the initial conversion.
We apologize for any inconvenience this may cause and hope you enjoy the benefits of the new system. If you have any questions, please let us know. You may contact your local office, Relationship Manager, or email us at email@example.com.