Accessing Yodlee feeds with MFA for the first time

Legacy KB ID: 5548

Question

My financial institution requires me to enter a security code that is only valid for a minute, to access my website.  How can BankData access my transactions?    

 

Answer

BankData now allows you to access financial institutions that require you to enter a security code, valid for only a minute and sent to you by SMS or token, to access their website. 


If you have not previously accessed your bank's website you should do so now as you may be required to complete some verification process and possibly change your password.


On the credential screen, you will see an additional boxes: 

1.    Do you use an Authentication Key to login to Internet Banking?

2.    Do you use Multifactor Authentication to login to Internet Banking?

Answer YES to the appropriate box.

 

The sign-up process will shortly ask you for the security code.  Enter it.

 

As part of establishing the connection Yodlee will retrieve up to 3 months of transactions for your accounts.  The amount of transactions retrieved can vary from one financial institution to another. 

Your transactions will be available in a short while.

 

Additional note for IPA Books+ users

IPA Books+ by default will look back for 60 days for transactions, so your first receipt of Yodlee transactions may contain a number that exceed your plan limit.  Before you attempt to view your transactions you can change this look-back range in Settings; cogwheel > Settings > General > Business Settings, then in the BankData: retrieve last field, enter a number in keeping with your needs.  The allowable range is 1 - 365.

 

Accessing latest transactions

When you wish to update your transactions you’ll need to re-enter your credentials with the new security code on the Bank Feed Management screen. 

1.    IPA Books+ – BankData record owner to log into IPA Books+ and either:

a.    Click on Control Panel > Bank Feed management; or

b.    In the Book, go to Banking > Bank Connections, and click on Connect an Account.

2.    Reckon Accounts – BankData record owner to login to the website bankdata.reckon.com.

On your Yodlee connection line, click on the Authentication Required link in the Status column.

Enter your financial institution login credentials.  If the form requests whether additional authentication is used, answer yes.

When requested enter the security code sent to you by SMS or by token

Wait a few minutes as Yodlee retrieves transactions since your BankData record was last updated.    

You can now go to your programme and view or request your latest transactions. 

 

Need more help?

Ask the Reckon Community at: https://community.reckon.com/reckon.

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