Setting up My Money accounts for online banking
From MTHWiki
Overview
My Money includes a number of powerful online financial management tools. My Money can connect to accounts available from a variety of financial institutions, including banks and credit and charge card companies.
Use online account access to:
- Download up-to-date information from your financial institution (usually from the close of the previous banking day), including cleared transactions and account balances.
- Automatically compare the downloaded transactions to those in your My Money accounts register. My Money matches downloaded transactions to those you’ve already entered and notes new transactions so you can add them to your register.
To enable online access to your accounts you need to apply for such access at your financial institution first. You can apply for online account access for checking, savings, line of credit, money market, and credit card or charge card accounts. Each financial institution determines which account types to support for online services. Apply individually to each financial institution where you want to use one or more online services.
Please note that some individual financial institutions may offer various levels of services for a fee. Call your financial institution to discuss fees and services directly with them.
Security
My Money incorporates several advances features to safeguard your financial data, including:
- Highlevel, state-of-the-art encryption and authentication to protect your data.
- A Personal Identification Number (PIN) issued by your financial institution that you must enter each time you connect to the Internet. You can change your PIN to one of your choice at any time so that only you know it.
Setting up a My Money account for online banking
- Make sure you have Internet access from your computer and that My Money can use it
- Contact your financial institution about services and fees.
- When you receive your account information and assigned PIN, enable your My Money accounts to use online banking.
- Connect to the Internet to download your latest transactions and online balances.
- Compare your downloaded transactions to those you've already entered in your My Money register, and then use the downloaded transactions to update your register.
