Using Pastel Bank Feeds

[michellepace]

Hi there, I'm thinking about using Pastel bank feeds. I am quite nervous of it. I have a couple of questions if anyone can answer:

Question 1:
Do my bank transactions at *any* stage get save to Sages' servers? Or is the data a transfer solely between my bank, say Investec, and my PC running Pastel?

Question 2:
Where do the username/password (ie banking login credentials) get saved? Do they get encrypted? How do I know the are kept safe?

Question 3:
Would the most prudent course of action be to ask my bank to create a user profile for me which only has access to viewing transactions? And then use those credentials to create my Pastel bank feed. At least in that way if the credentials get compromised, no monetary damage can be done.

Question 4:
One of our company bank accounts is at Nedbank. We still use a token plugged into the USB drive along with Gemalto software to authenticate. Plust a username and password. Has anyone ever successfully created a bank feed to Nedbank?

Thanks very much once again,
Michelle

[michellepace]

Hi, just wondering if anyone has any answers for my questions above?

[michellepace]

Okay I'm just about giving up on an answer for this one.... Does anyone even use Pastel Bank feeds?

[michellepace]

Hello,

I still haven't had the courage to setup bank feeds. But I have a few answers to my questions after posting here https://www.sagecity.com/za/sage-pas.../350228#350228

(a terribly designed forum... as in I cannot believe people actually sat in a boardroom in this day and age and said... ah yes, what a fantastic piece of software we are going to pay for to setup a forum.)

Good Morning Michelle,

Thank you for your question. Yodlee provides the link to retrieve your bank statements. While your login details are stored by Yodlee it is encrypted in the same way as your details are encrypted by the bank.

When you request a bank feed this information is sent directly to your computer. Yodlee does not keep any copies of the data they only provide the link.

To see the Bank Feeds terms and conditions Click Here.

With regards to your concerns about having your information shared on another server, this is completely understandable, there has not been a data breach yet and as advised the level of encryption is that of your bank. You can however visit the Yodlee site for further information.

Kind Regards

Joanne