Yolt | FAQs

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Yolt and Your Bank

By connecting your bank accounts; you can view everything in one place, see your spending habits, get smart insights and act on them by setting budgets!
Yolt works closely with banks included in Open Banking, an initiative that connects us to the UK’s high street banks using their APIs.

It’s also worth mentioning that we are licensed as a Third Party Provider (TPP) and appear on the FCA register as part of ING Bank's Dutch banking license.

As a result of PSD2 and Open Banking, all banks in the UK are required to allow access to customer data. The Open Banking API is a great way to make this happen, but only the CMA9 (the 9 largest UK banks offering personal and small business accounts) are required to use APIs. As such, if some banks choose to use other methods, we'll use a regulated financial data provider instead.
We're constantly looking to add new banks and institutions to make Yolt useful for everyone! If you’re bank isn’t listed, you can request it within Yolt and we'll update you if we add it.
API stands for ‘Application Programming Interface’. It’s a piece of software that enables the exchange of information between programs and authorises a specific operation. Open Banking requires that several banks make APIs available, enabling individuals and third parties to access financial data securely.
Open Banking and PSD2 are often talked about as one, but they were developed separately and are now happily coming together. Open Banking is a UK initiative aiming to open up the retail banking market whereas PSD2 is EU Legislation. Whilst Open Banking and PSD2 don’t have exactly the same scope or rules, they are coming into line with each other and do open up great new solutions for everyone.
A TPP (Third Party Provider) is the name given to services like Yolt.

As a third party provider, we must be registered with, and regulated by, the FCA or a similar regulator in another EU member state. In our case, we're regulated by the European Central Bank and Dutch National Bank (as we are owned by ING Bank N.V).
If your account supports Open Banking but you can't add it, it might be because we are still in a managed rollout phase. As we work with your banks to ensure the optimal experience, we'll be easing users in phases.

If your account does not support Open Banking, you can still sync accounts using the existing method until an API is available for you to use.
For the past year we have been syncing accounts to Yolt by using a trusted banking data partner. They have been arranging the secure handling and processing of banking data for many years in the UK and other countries around the world. We still use this method for accounts that do not currently support Open Banking.

With Open Banking, we can connect directly to some banks via their own APIs, essentially cutting out the middle man.
Following the Open Banking launch in January 2018, the biggest nine banks and building societies in the UK are required to create APIs for licensed and regulated providers to access. Naturally, some banks will be ready before others. You can click here for the most updated list of available Open Banking accounts.
For the first six weeks or so, we've been asked by the banks to test the API connections in a limited production environment to make sure they deliver the best experience for you. That means we can only make it available to a small group of customers at first.
From January 2018, Current Accounts held with the nine largest personal and small business current account providers (referred to as the 'CMA 9') will be provide Open Banking APIs. The availability of these APIs does depend on the banks taking part, as some will be available before others.

Our hope is that Open Banking will extend its reach and support API access for a wider range of products, such as savings accounts, pensions, mortgages and credit cards.
As of the 13th of January 2018, all banks and building societies in the UK are making their customer data accessible to regulated and licensed third parties such as Yolt and as a result have altered their terms and conditions to reflect this change. Nine of the biggest banks and building societies will provide this data using APIs for current and personal accounts, as will some others, and for accounts without an API we use a trusted data partner.

Yolt and You

Using cutting-edge technology, Yolt provides an overview of your bank accounts. Smart insights enable you to track your finances and manage your overall spending. Use categories to see how much you’re spending on eating out, travelling or even on holidays. Then act upon it by setting budgets, monitor your subscriptions and look for better energy deals.
Yolt is not a bank, although we are owned by ING Bank N.V. We’ve combined trusted bank grade security and processes with innovative technologies to build Yolt for you.
Currently, Yolt is only available in the UK. If you're aged 18 or over, all you need is a bank account and a mobile phone registered in the UK.
Yolt is totally free to download and use, and we plan on keeping it that way!
We do our best to bring you the most relevant and exciting partners in Yolt. These partners might offer you better deals with all sorts of smart features.

If you choose to use one of those partners then we’ll get some commission from the partner off the back of that.
Please send us your thoughts via the in-app option from the More tab. To make things easier, we have prefilled some information for you. You can leave that as it is and add your feedback just above the text.

Yolt and Security

At Yolt, safeguarding your data is one of our core values.

Yolt was designed to be the only money app you need, providing smart insights but also keeping your details and data private and secure.

Yolt is a regulated Third Party Provider (TPP) and as such holds a license to operate within Open Banking.

Yolt is a company owned by ING Bank and is subject to the same security and privacy standards applicable to a bank. ING (hence Yolt) is licensed by the Dutch National Bank (DNB) and as such we can be found on the FCA register
• We are a registered data controller (ICO Data Protection Register)

• We are a licensed Third Party Provider (Open Banking TPP)
• We are supervised by the European Central Bank
• We use the most up-to-date encryption
• We do not sell your data to third parties
• We regularly run penetration and security tests to ensure your data is protected.
• We are owned by ING Bank, and must meet the same privacy and security standards applicable to a bank.

If your bank is one of the many in the Open Banking initiative, you’ll be redirected to your own bank’s authorisation screen or app (using OAuth certification) to confirm and authenticate the connection to Yolt.

On occasion, APIs are not yet available for some accounts. For that we use a data partner which has been arranging the secure handling and processing of user details for many years in the UK and other countries around the world.
Yes. Yolt is a licensed Third Party Provider and, as part of ING Bank N.V, is regulated by the Dutch Financial Authorities and we can be found on the FCA register by clicking here.
Yes! As of the 13th of January 2018, all banks and building societies in the UK are making their customer data accessible to regulated and licensed third parties such as Yolt. Nine of the biggest banks and building societies will provide this data using APIs for current and personal accounts, as will some others, and for accounts without an API we use a trusted data partner.

Yolt and Your Data

For Open Banking, your login credentials are never stored on our servers. Your transaction data, balance, and other data you share with Yolt is stored using state-of-the-art encryption so that you can use the app.

That's why we ask you to unlock Yolt using a PIN, fingerprint or FaceID. To prevent unauthorised access or disclosure, we have physical, electronic and operational measures in place, which secure the user information that we hold. We have run appropriate penetration and security tests to ensure your data is protected using bank grade security.
For Open Banking, your login credentials are never stored on our servers. Your transaction data, balance, and other data you share with Yolt is stored using state-of-the-art encryption so that you can use the app. That's why we ask you to unlock Yolt using a PIN, fingerprint or FaceID. To prevent unauthorised access or disclosure, we have physical, electronic and operational measures in place, which secure the user information that we hold. We have run appropriate penetration and security tests to ensure your data is protected using bank grade security.
When you add your account you'll securely sync the following:
Transactions (usually the previous twelve months, depending on your bank)
Account Balance
Direct Debits and Standing Orders
Basic account information, such as overdraft limit, interest rate, monthly account fees.

If you are syncing with Yolt via Open Banking, you will not be asked to share your password, other than with your bank. If you use the normal sync route, you’d sync your accounts within Yolt itself.
We respect your privacy and personal information. Yolt has been designed to provide insights while also keeping your details and data private. We will therefore only use the information that you agreed to share with us to further develop the app and provide other useful services to you. We do not sell your data.
You can delete your account at any point. We will remove your data from our systems in accordance with data protection regulations.

The quickest way to delete your Yolt account is by heading over to More > Your Profile > Delete My Account. Follow the on-screen instructions to delete your account and all associated data.
No.

We respect your privacy and do not sell your data.
If you do decide to leave us, your personal data is deleted in accordance with government data protection regulations (GDPR).

Please note that if you only delete the app off your phone, and not the Yolt account itself, Yolt would still have your details on record. You must ensure that you delete your account by heading to the Your Profile section within the app to delete your account completely.
At Yolt, we regularly run appropriate penetration and security tests to ensure your data is secured. As a licensed and regulated TPP, and as part of ING Bank N.V. we are held to the same security standards as any bank. To prevent unauthorised access or disclosure the data in our app is protected with bank level security using physical, electronic and operational measures.

As a user, you should protect your device and the contents within it. Yolt is protected by a fingerprint, PIN code or facial recognition.

We would never contact you to ask you to confirm or provide us with account information, passwords, PINs or other personally identifiable information.

If you lose your phone, you can get in touch with us and we can remotely delete your account.
Your phone number is an easy way to verify that you’re a real person. We send you a temporary security code during onboarding that activates the app before requesting a 5-digit PIN.
Due to security reasons, we cannot reset your PIN. This means you’ll have to get your recovery code (instructions below) and re-install Yolt. You'll be prompted to insert your code in the onboarding screen, and you'll be right back up and running.

How-to guides

To initiate a manual refresh simply head to the Accounts tab and Pull down to refresh.

You can also set up sync on start, this will sync your account every time you log in to Yolt. To do this, head to the More tab and toggle on the Sync on Start button.
Setting a budget is quick and easy, simply follow these steps:

1. Navigate to the Actions Tab

2. Tap Set & track your budget

3. Select the + icon

4. Choose the category in which you want to add a budget

5. You can then use the + & - icons to set your budget limit (this goes up and down in increments of £5)

6. Once you’ve chosen an amount for your budget, select Set

Your budget should now be added to the Budgets list!
To change the category for a specific transaction, or for a set of similar transactions (from the same merchant) simply follow these steps:

1. Tap the Transactions tab

2. Find the transaction and tap on it to open the transaction details page

3. From here you can view the current category the transaction is organised in

4. To change this, tap Edit and you’ll be prompted to select a new category

5. Then, tap either Apply to similar transactions to organise this transaction plus similar ones from the past and future in the new category

or

Apply to just one transaction to simply change this individual transaction (and none from the past/ future)
To add a new bill or subscription head to the Actions tab and tap on Monitor bills and subscriptions and simply follow these steps:

1. Tap the + on the right-hand side of the screen.

2. Yolt will then display a list of bills and subscriptions for you to add.

* Don’t see a subscription or bill? You can manually add a transaction to this list, just head over to the Transactions tab:

1. Find the transaction and tap on it to open the transaction detail page.

2. Next, tap on the 3 dots icon on the top-right hand corner of the screen and select mark as subscription.

3. This transaction will now be in your list of bills and subscriptions and you can now head back to the Monitor bills and subscriptions list to set a renewal date.
Hiding accounts is quick and easy, simply follow these steps:

1. Head over to the Accounts tab

2. On the top-left hand corner of the screen, tap the pencil icon or Edit

3. Select which accounts you want to hide / unhide
If you get a new phone, or reinstall Yolt, you can pick up right where you left off.

All you need is your recovery code (which is found in Yolt on your old phone) and access to the phone number you first registered with (we will send a verification SMS to this number).

Simply download Yolt and tap ‘Already got an account?’ and follow the steps.
Your recovery code is a 16-character code that you need to store safely somewhere before you reinstall or log back in to your Yolt account.

Follow these simple steps to make sure you can recover your account later:

1. Head over to the More tab

2. Tap on Get recovery code

3. Enter your PIN

4. Make a note of your 16-character recovery code

5. Store it in a safe place (not on your phone)

Remember:

If you want to recover your account, you’ll need access to the phone number you first registered with (we will send a verification SMS to this number).

Questions about the App

Accounts syncing via Open Banking will automatically refresh up to four times a day, and normal accounts will refresh twice a day.

You can manually refresh your accounts at any time, by pulling down on the Accounts page in Yolt.
For security reasons, we can’t reset or resend your recovery code. If you have access to your old phone, you can log in to Yolt and view your code.

If you can’t do that, you’ll have to create a new Yolt account and sync your accounts again. But don’t worry, it only takes a few moments and you’ll still import previous spending data (although any previous budgets and recategorisation will be lost).
Not right now. As we work on creating a way to move accounts to the new Open Banking connection, you will need to remove your existing account and re-add it using the Open Banking sync method (if your bank supports Open Banking).
Not yet. However, we are developing functionality that supports payments within Yolt.

The smart thinking money app.

Frequently Asked Questions

Top Questions

Yolt and Your Bank

Yolt and You

Yolt and Security

Yolt and Your Data

How-to guides

Questions about the App