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Saven's transfer funds options
June 25, 2022
2:11 pm
iotama
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Their FAQs talk about "linking" your other FI accounts to your Saven account to transfer funds, but no details.

What kind of linking system they have?

Is it the risky "FLINKS", where you provide username & password of your other FI (and also potentially violating that FI's TOS)

Or is it done by giving them the transit and institution number, and they send a small token deposit to verify and link (like Tangerine, etc)

Or do they require a physical void cheque?

Thank you very much in advance.

June 26, 2022
10:17 pm
Norman1
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From the reports in Linking External Account…, it looks like Saven uses the Flinks system to confirm links to external accounts.

June 27, 2022
4:24 am
iotama
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Norman1 said
From the reports in Linking External Account…, it looks like Saven uses the Flinks system to confirm links to external accounts.  

Oh no, that sucks. 🙁 But thank you so much for your help! 🙂

September 10, 2022
11:43 am
Sandy999
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I just called and asked if there is another way to link my accounts and they said no, you have to do it by giving your bank and account and PASSWORD!!! I don't think so. Thanks anyway.

September 10, 2022
2:26 pm
Alexandre
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Sandy999 said
I just called and asked if there is another way to link my accounts and they said no, you have to do it by giving your bank and account and PASSWORD!!! I don't think so. Thanks anyway.  

You shouldn't, but if you have no other choice:

1. Change your bank account password to something different, you never used before, and it should be strong password.
2. Initiate the link providing that new password.
3. As soon as link is established, change you bank account password back to what it were before.

The link will stay, but nobody can get access to your current bank password from the linking process.

September 11, 2022
2:25 pm
iotama
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Alexandre said

You shouldn't, but if you have no other choice:

1. Change your bank account password to something different, you never used before, and it should be strong password.
2. Initiate the link providing that new password.
3. As soon as link is established, change you bank account password back to what it were before.

The link will stay, but nobody can get access to your current bank password from the linking process.  

Once is enough for Flinks (U.S. based, not even Canadian) to trawl all your account information and transactions (and who knows how much of what else the bank's API access allows them to take.) There are other implications besides scoring your precious financial data so cheaply.

But I realize everyone has different threshold and tolerance for their own security and privacy. So if you don't mind it much, by all means.

Please write your comments in the forum.