Stop Updating Moola By Hand — Let Your Bank Do It

Open Banking is live inside Moola. Here's what it actually does, how secure it is, and why it makes your whole plan more accurate — not just tidier.

Be honest: when did you last go into Moola and update your account balances?

If it's been more than a few weeks, you're not alone — and it's not really your fault. Nobody wants a second job that consists of copying numbers from your banking app into another app. It's the kind of task that feels responsible in the moment and gets skipped the second life gets busy.

The problem is what happens next. Your financial plan — the one showing when you'll be debt-free, how big your safety net is, whether you're on track for the things you actually care about — is only as good as the numbers behind it. Stale balances mean a stale plan. And a plan you don't trust is a plan you stop checking.

That's what Open Banking fixes.

What it actually does

Open Banking is the secure standard that lets apps like Moola see your account balances and transactions directly from your bank — with your explicit permission, and only for the accounts you approve. It's the same technology your own banking app likely already uses to show you a combined view of your money, and it's regulated by the FCA. Moola connects through Yapily, an FCA-authorised Open Banking provider, so the connection itself is held to the same bar as your bank.

Here's what it looks like from your side:

1. From your Moola dashboard, choose Connect your bank.

2. Pick your bank and log in — on your bank's own site, with your bank's own login. Moola never sees your password.

3. Choose which accounts to share. Balances start appearing in Moola within seconds.

   
   

What it unlocks

Once you're connected, three things change:

• Your Account Standing snapshot goes live. Instead of a list you maintain yourself, you get one page showing what you own and owe across every connected account, updated automatically, with anything that needs a second look flagged for you.

• Your projections use real numbers. The plan Moola builds — your net worth trajectory, your debt-free date, your safety net — recalculates against your actual balances, not the estimate you typed in three months ago.

• You stop doing the update. No more monthly ritual of opening five banking apps and typing numbers into a sixth. Your bank tells Moola directly.

  
  

On security, specifically

This is the part people rightly ask about first, so let's be direct:

• Access is read-only. Moola can see your balances and transactions; it can never move money, make payments, or change anything in your account.

• You choose exactly which accounts to share, and you can disconnect at any time — from Moola or from your bank.

• The connection runs through Yapily, an FCA-authorised Open Banking provider — not a workaround or a screen-scraping tool. It's the same regulatory standard behind the "connected accounts" features in most major banking and budgeting apps.

  
  

If you set up Moola by typing everything in by hand, this is the single highest-leverage five minutes you can spend on your plan this week. Connect your bank, and let the numbers take care of themselves from here.

Ready to stop typing?

Connect your bank →