Can You Trust Mint and Yodlee With Your Financial Information?

09.25.07 | Online Finances | 6 Comments | by junger

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Twice today I've heard people say that they would never give financial account aggregators like Mint and Yodlee access to their bank accounts.

yodlee.jpg

There are obviously risks to giving a third-party application access to your bank accounts. Hackers could be at work trying to break security, the company could lose a laptop with your information, or they could just release the data.

Oops!

But if these companies are worth anything, it's their security. They'd have absolutely no legitimacy and probably go out of business if they had a security problem.

For what it's worth, Mint actually uses Yodlee's technology to connect to banks.

So can you trust account aggregators with your banking information? I want to know what you think.

What's your opinion? Leave it in a comment.

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