My Money, My Yodlee. Why I use Yodlee Account Aggregation Tool.

yodlee1.gifI was reading alot of business magazines a few years ago.  I was so adamant to get out of the rat race and start my own business that I must have subscribed to several of them, including Inc., Entrepreneur Magazine, Wall Street Journal, Forbes, Kiplinger’s and so forth.  Each time I pick up those magazines, to look for business ideas, they have review sections of ‘gadgets and gizmos’ or ‘tools to tag along’ that I glance at for kicks.  

One discovery I made was Yodlee.  Yodlee is an account aggregation tool that allows you to enter your accounts into one place.  You can access your accounts by logging into Yodlee with one username and password.  It only takes a one-time setup of your online accounts and passwords and possibly, a few future updates if your account password changes, etc.   I set up my account way back in 2002 I believe, and to this day I am still with them today and I love it.  It is a free service (for now), and with my memory slowly failing, I needed this tool – in a BAD way. 😀

People do ask the question often, “Aren’t you scared that hackers may access Yodlee and all of your accounts will be compromised?”  Actually, I thought that in the beginning.  But then I realized, I had an account with BofA that had a couple of hundred dollars that I just haven’t had chance to transfer and close which I had totally forgotten.  It just sat there until I remembered that I had an active account.  So, if the reasoning is that if hackers do get to BofA, they will only get the BofA and not all my accounts I would say I can also look at it from a different angle. 

Imagine that your accounts are in separate vaults.  Each account has a username and password but you have 20 of them but only can remember 18.  A hacker can get into the 2 that you do not remember and get away with it because you have no idea it even existed.  With Yodlee, I have all my accounts in one vault.  I open it up once a day and I see all of my accounts at a glance.  I know each activity that occurs because I can see it within 2 hours of account activity. 

And even if a hacker gets to my Yodlee Account, I will know it and act upon it faster than an account I never knew I had! 

If I were you, and you value your money, I would definitely check it out.  Go to www.yodlee.com and browse around.  It may be just as worth it to you as it is with me.  Never take my word for it, always do your own research.  For me, it is definitely a tool I will never part with!

I do believe however, that this is currently valid for US accounts only.  But hey, that was almost 5 years ago, so they may have expanded.

And NO, I am not getting paid by Yodlee to say this.  I just thought it would be nice to share it with people I care about, like YOU! 😀

I know that the Yodlee.com mainpage is confusing.  I use the Money Central and you may access the registration through this link: Yodlee Money Central

Related Posts with Thumbnails

Be the first to comment on "My Money, My Yodlee. Why I use Yodlee Account Aggregation Tool."

Leave a Reply

%d bloggers like this: