Hellowallet

[firewalker]

My workplace is offering Hellowallet for free. Having searched the web, it appears this offering is a common thing for large institutions. Has anyone tried it?

I found a number of positive reviews on the web. But upon visiting the site, I was immediately turned off by the request for my online banking credentials. I gave a quick search on their site and the web but could find no indication of federal regulations that would protect users from these third party budgeting websites. On the Hellowallet website, I only found their comments about how careful they are and that they really really promise to not be negligent.

[firewalker]

Did a bit more research on Hellowallet.  Turns out it falls into the category of  "online account aggregation providers."  I've spotted a bit of conversation and articles on MMM about "Mint" but I never took the time to figure out what it is. Turns out it's a predecessor and competitor of Helllowallet.

What caught my eye was the controversy regarding the lack of regulation of these businesses. As a result, some financial institutions will block access attempted by aggregators.

Oh well. This may be old news to you all, but I found it interesting.