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Wells Fargo allows me to create Read Only credentials! They should get credit for this feature. I wish all my financial accounts had this.

by tln 10y ago

ceejayoz 10y ago
That's amazing as banks go. Wow.
fatbob 10y ago
Do you have a link for this? Is it only for business accounts?
- StavrosK 10y ago
  It seems to work for my personal account. Account Services -> Guest users. I haven't tried to add an account, but I see the interface fine.
  - fatbob 10y ago
    That's pretty nice - it's even better than what ING used to do. It still doesn't get around the problem of Wells Fargo charging for OFX access though.
semi-extrinsic 10y ago
I was going to ask, why do you need to give third parties read access to your account? I've never done so in my life, and can't see the use case. Then I see further down: it's for the FUBAR tax return system in the US. Here's a solution for you: fix your damned tax return system first (and watch Intuit go out of business in the process). Then you've solved many big problems, not just a small one.
- mryan 10y ago
  > I was going to ask, why do you need to give third parties read access to your account? Tax is not the only reason. How about data analysis services for your personal finances? e.g. mint.com.
  - semi-extrinsic 10y ago
    TIL this is a thing third parties do in the US. Round here (Norway), your bank already does this analysis part. When I log into my bank's app or webpage, I get an instant overview of how much I spent last month on the mortgage, food, gas, insurance, clothes etc. And I can define custom categories, as well as change how the system sorts transactions into different categories. The budgets for the next 12 months my wife and I keep in a shared Google Docs spreadsheet. Planning requires thought, so I'm skeptical that you can automate a budget and then have people follow it (unless it's a very lenient budget).
    - toomanybeersies 10y ago
      It's a separation of concerns thing. Sure, you can use your bank for analysis, but there's better options out there. Banks are for storing money, not financial analysis.
      - mrexroad 10y ago
        i think if my bank offered advice, i'd strongly consider doing the exact opposite of whatever they suggested. i'd rank it up there w/ listening to jiffy lube's recommendation to refill the blinker fluid.
      - lisper 10y ago
        > Banks are for storing money Actually, banks are for aggregating capital. There is no institution in the Western financial system where you can just store money. The best you can do is put physical cash in a safe deposit box.
        scott00 10y ago
        Putting physical US cash in a safe deposit box is actually illegal in the US.
        dragonwriter 10y ago
- nissehulth 10y ago
  I guess you have never been involved in bookkeeping, where it's a real timesaver to be able to import account data.

Wells Fargo allows me to create Read Only credentials! They should get credit for this feature. I wish all my financial accounts had this.

by tln 10y ago

Wells Fargo allows me to create Read Only credentials! They should get credit for this feature. I wish all my financial accounts had this.

ceejayoz 10y ago

That's amazing as banks go. Wow.

fatbob 10y ago

Do you have a link for this? Is it only for business accounts?

StavrosK 10y ago
It seems to work for my personal account. Account Services -> Guest users. I haven't tried to add an account, but I see the interface fine.
- fatbob 10y ago
  That's pretty nice - it's even better than what ING used to do. It still doesn't get around the problem of Wells Fargo charging for OFX access though.

semi-extrinsic 10y ago

I was going to ask, why do you need to give third parties read access to your account? I've never done so in my life, and can't see the use case. Then I see further down: it's for the FUBAR tax return system in the US. Here's a solution for you: fix your damned tax return system first (and watch Intuit go out of business in the process). Then you've solved many big problems, not just a small one.

mryan 10y ago
> I was going to ask, why do you need to give third parties read access to your account? Tax is not the only reason. How about data analysis services for your personal finances? e.g. mint.com.
- semi-extrinsic 10y ago
  TIL this is a thing third parties do in the US. Round here (Norway), your bank already does this analysis part. When I log into my bank's app or webpage, I get an instant overview of how much I spent last month on the mortgage, food, gas, insurance, clothes etc. And I can define custom categories, as well as change how the system sorts transactions into different categories. The budgets for the next 12 months my wife and I keep in a shared Google Docs spreadsheet. Planning requires thought, so I'm skeptical that you can automate a budget and then have people follow it (unless it's a very lenient budget).
  - toomanybeersies 10y ago
    It's a separation of concerns thing. Sure, you can use your bank for analysis, but there's better options out there. Banks are for storing money, not financial analysis.
    - mrexroad 10y ago
      i think if my bank offered advice, i'd strongly consider doing the exact opposite of whatever they suggested. i'd rank it up there w/ listening to jiffy lube's recommendation to refill the blinker fluid.
    - lisper 10y ago
      > Banks are for storing money Actually, banks are for aggregating capital. There is no institution in the Western financial system where you can just store money. The best you can do is put physical cash in a safe deposit box.
      - scott00 10y ago
        Putting physical US cash in a safe deposit box is actually illegal in the US.
        dragonwriter 10y ago
nissehulth 10y ago
I guess you have never been involved in bookkeeping, where it's a real timesaver to be able to import account data.