Types of bank connections

There are two different methods to connect your banks:

• Direct Access Connection: Via scraping method.

• Open Banking Connection: Via PSD2 API.

In the following video, we explain how to connect a bank in Banktrack, and the different types of connections.

ℹ️ Video translation into English in progress

Direct Access

The connection is made by entering your credentials directly into Banktrack, which are securely transmitted and stored by our provider (see more details in Security).

Advantages:

• Allows access to all types of products: Current accounts, Credit cards, Investments, Loans, etc.

• The information obtained is what the user "sees" in their banking app.

• The connection can last more than 90 days.

• The balance associated with each bank transaction is retrieved.

Disadvantages:

• The connection is often less stable due to changes made by banks in their apps.

If your bank connection frequently expires, we recommend using an Open Banking connection via PSD2 API.

Open Banking (PSD2)

The connection is made by entering your bank login credentials directly on the bank’s website.

Advantages:

• The connection is more stable since it uses the official web service provided by the bank.

Disadvantages:

• The connection expires every 90 days, requiring you to reconnect the bank after this period.

• It only allows access to current accounts, without the possibility of viewing other financial products like cards or loans.

• The balance associated with each bank transaction is not obtained.

• The transaction information may differ from what is shown on the bank’s website, as it is the data sent by the bank through its third-party service.

If you have any questions about which type of connection to use, you can contact us via the chat you'll find in the bottom right corner of the screen.