Charles Schwab Open Banking Support Coming for Tiller Money
Tiller Money will soon support open banking for Charles Schwab accounts, providing customers even greater security and control of their account connections.
It was a happy Valentine’s Day in 2020 when the U.S. Open Banking FAQ PDF from Yodlee popped up in the Tiller Money #IndustryNews channel on Slack.
🙌🏿 🎉 👍🏻 ☝🏽🏆🎂
We were ecstatic and quickly made moves to contact Yodlee to see what the requirements were to start offering these faster, more reliable bank data feeds.
They were eager to offer us a spot in their “early mover” program for this. Tiller Money ended up being Yodlee’s first customer to offer open banking.
As a small startup trying to grow your business, prioritization can be a challenging riddle. You’re juggling the needs of your customers amidst the required work that helps your systems scale. 🤹♀️ But we knew open banking was an important opportunity we couldn’t pass up.
For a tool that automates your daily spending, transactions and balances to spreadsheets, data feeds are absolutely critical. It’s the core of what we do, so when we got the news we immediately pivoted to take action. 💯
With each new institution we’ve enabled for open banking we learn something new and continue refining. Citi, Chase, and Bank of America upgrades have all been pretty smooth. Where there have been hiccups, Yodlee’s teams have been responsive and quickly addressed the major obstacles.
So as we continue through the year, we’ll offer open banking connections for more and more of the major U.S. banks.
Next up is Charles Schwab, starting on March 29th.
The switch to open banking for Charles Schwab will affect the following sites, which need to be upgraded by April 29, 2021.
- Charles Schwab
- Charles Schwab (Option Center)
- Charles Schwab (Signature Alliance)
- Charles Schwab (Equity Award Center)
- Charles Schwab Intelligent Advisory
Click here to read more about how to upgrade your Charles Schwab sites.
Questions or feedback?
Chime in via the Tiller Money Community!
Just a heads up that Schwab is giving an error when switching to open banking: “This function is temporarily unavailable. Please try again at a later time.”
Hopefully, this will be resolved soon!
Thanks for the note @RachelB. Sounds like using an incognito browser worked for you?
Hi, what are the benefits of open banking?
I’m still getting ramped up on Tiller, but I noticed a couple things in particular about my Schwab accounts:
We have a pretty good write up here on open banking and the expected benefits:
Given that the connection with Schwab is new there could be some hiccups we need to contact our data provider to work out.
Did they download? Are things working a bit more reliably now a few days later?
Looks like Schwab is currently have an outage with our data provider so that’s likely why you’re seeing this error message.
Continue the discussion at community.tillerhq.com
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