{"id":10665,"date":"2012-04-23T15:23:12","date_gmt":"2012-04-23T13:23:12","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=10665"},"modified":"2012-04-23T15:25:37","modified_gmt":"2012-04-23T13:25:37","slug":"22seven-adds-virgin-money-to-its-accounts","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/10665\/22seven-adds-virgin-money-to-its-accounts\/","title":{"rendered":"22seven adds Virgin Money to its accounts"},"content":{"rendered":"

South African startup and personal financial management tool 22seven<\/a> plans to end its free beta in the next 3 weeks, after which the service will cost R70 per month to use, the company recently revealed.<\/p>\n

New users will get a month\u2019s free access to the service and existing users will be presented with a 30-day countdown once the beta is over.<\/p>\n

22seven announced its public beta<\/a> at a launch event in Johannesburg on 26 January 2012 causing quite a stir among South Africa\u2019s banks.<\/p>\n

The service requires that you enter your full Internet banking credentials: account number, PIN, and password.<\/p>\n

This is stored at well-known third-party financial data aggregator, Yodlee<\/a>, and allows 22seven to automatically pull transactions from various banks and other financial service providers into your dashboard.<\/p>\n

Each of South Africa\u2019s banks issued stern warnings about the service, saying that they wouldn\u2019t be responsible for any losses if users gave their credentials to third parties.<\/p>\n

Absa<\/a> went so far as to block Yodlee\u2019s access to its customers\u2019 Internet banking accounts. Yodlee\u2019s access was restored after negotiations between the aggregator and Absa.<\/p>\n

Standard Bank<\/a> customers also started complaining that 22seven wasn\u2019t able to connect to their accounts during the beta. It wasn\u2019t confirmed whether the bank cut off Yodlee, but access was restored some weeks after the first complaints surfaced.<\/p>\n

Since the initial warnings from the banks, First National Bank<\/a> gave 22seven its official approval as long as customers use a \u201cread only\u201d online banking profile to link to the service.<\/p>\n

Last week (18 April 2012) 22seven also added support for Virgin Money credit cards to its stable, bringing the total number of supported accounts to 11.<\/p>\n

Related articles<\/h3>\n

22seven versus SA banks<\/strong><\/a><\/p>\n

Absa blocking financial aggregator Yodlee: 22seven<\/strong><\/a><\/p>\n

ABSA clarifies 22seven block<\/strong><\/a><\/p>\n

22seven scary T&Cs getting revised<\/strong><\/a><\/p>\n

FNB changes tune on 22seven<\/strong><\/a><\/p>\n

Banks respond to FNB\u2019s move to \u2018allow\u2019 22seven<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

South African startup and personal financial management tool 22seven plans to end its free beta in the next 3 weeks, after which the service will cost R70 per month to use, the company recently revealed.<\/p>\n","protected":false},"author":12,"featured_media":5143,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961,9882],"tags":[1144,29,739,76,26,499,2497],"class_list":["post-10665","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-internet","tag-22seven","tag-absa","tag-first-national-bank","tag-fnb","tag-headline","tag-standard-bank","tag-virgin-money"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/10665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=10665"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/10665\/revisions"}],"predecessor-version":[{"id":10748,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/10665\/revisions\/10748"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/5143"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=10665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=10665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=10665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}