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Keeping Your Credentials Safe

by on February 21, 2012

As you’ve probably seen from the tips in this blog or just from using your PowerWallet, the system asks for the account credentials of any account you add into your PowerWallet. Credentials are basically the secret information you provide on your account that keep other people from being able to log in to your account. This includes your User ID, Password, and in some cases also includes answers to a few personal questions that provide an extra layer of protection on your account.

Now, anyone will tell you that you never, ever want to share your account credentials because this gives other people the ability to access your personal financial records and can potentially lead to identity theft. So is giving your PowerWallet the credentials to all your accounts really safe? Absolutely!

PowerWallet needs your credentials to access the information in your accounts—just like you can’t view your account if you don’t enter your credentials on your provider’s website. PowerWallet logs into your account and pulls the information it needs so you can you to manage your money from that account. Without the credentials, your PowerWallet can’t pull the data it needs to work.

Now, just because your PowerWallet has your credentials doesn’t mean anyone on the PowerWallet Team does. Employee’s cannot access or see any confidential information you provide. All of your information is sent over a 256-bit SSL encryption using the same security measures that are used by your various financial service providers. We even feature an additional level of security with a special security question to ensure your account is safe. The servers that run PowerWallet are off site and protected by bank-grade physical security measures—like Fort Knox, only with financial servers instead of physical money.

So no one on the PowerWallet team (or anyone else for that matter) has access to your accounts. You get all your accounts in one place for convenience and your data stays safe so you can sleep better at night knowing there’s not some thief out there using the money you do such a good job of managing with PowerWallet.

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