What is My Finance?
How do I sign up for My Finance?
Is there a fee to use My Finance?
What accounts will be displayed in My Finance?
Why don’t I see all of my accounts?
What is an external account?
What external accounts can I add to My Finance?
One of my external financial institutions is not listed as an option to add to My Finance. Why can’t I find this institution?
Can I exclude a Bank Independent account?
Why is an account on the Accounts page grayed out?
Why does part of my account number contain “X’s?”
Why don’t I see the Delete icon by every account in My Accounts?
What is an offline account?
Are “How Am I Doing?” messages automatically deleted or removed from the Dashboard after a certain amount of time or do I have to delete them manually?
What is the “Can I Buy It” button?
What do the rating stars mean?
What is the difference in Cash Flow and Forecast Cash Flow?
Why don’t I see Forecast Cash Flow on my Dashboard in My Finance?
What is a wizard?
Why are there asterisks (*) by some fields in wizards and dialogs?
I have received a “System Unavailable” message. What does this mean?
Why isn’t my account being updated?
Can I search transactions in My Finance?
How do I categorize my transactions?
How do I split a transaction for categorization in My Finance?
How can I delete a category or subcategory?
What other options are available to help me categorize my transactions?
How do I create a budget?
What is the difference between a budget and a financial goal?
How do financial goals impact my budget?
What types of financial goals are offered in My Finance?
Can I set up alerts in My Finance?
Are the alerts available in My Finance the same as the alerts in Online Banking?
What types of alerts are available?
When adding a Transaction Merchant alert, does the name of the merchant have to be an exact match?
How do I disable My Finance alerts?
What is My Finance?My Finance is a robust personal financial management tool within Bank Independent Online Banking. My Finance allows you to view and maintain your personal financial information from multiple financial institutions and accounts all in one easy-to-use manageable platform within your Bank Independent Online Banking account.
How do I sign up for My Finance?Simply log in to Bank Independent Online Banking and select the My Finance tab. You will be prompted to accept the Terms and Conditions and guided through the set-up process step-by-step.
Is there a fee to use My Finance?Not at all. My Finance is a complimentary service.
What accounts will be displayed in My Finance?All of your Bank Independent accounts will be automatically displayed and updated in My Finance. Your transactions will be displayed within My Finance as assets and liabilities.
Why don’t I see all of my accounts?First, verify that you have added all of your online and offline accounts that should be displayed on your Accounts page. If you still don’t see the account, verify that your credentials at the financial institution are valid, then return to My Finance and refresh your page.
What is an external account?An external account is a financial account you own with another financial institution or company other than Bank Independent, including banks, credit unions, credit card companies, trust and investment firms, etc.
What external accounts can I add to My Finance?Any account with internet access can be added to My Finance, including investment accounts (i.e. 401(k)s, IRAs, brokerage accounts, and annuities), mortgages, credit cards, and any other savings or checking accounts from other financial institution. You will need to be enrolled for online access to those accounts through the websites of your financial providers.
One of my external financial institutions is not listed as an option to add to My Finance. Why can’t I find this institution?If your institution provides internet access and you can’t find it in the list of supported institutions, you can request that it be added by clicking on the “Add Institution” button in the “Add Online Account” panel. Just enter the institution name and website URL then click the “Request External Institution” button. Your financial institution may not have an agreement with the account aggregator, but just to be sure, please verify that you are using the correct and full name of the institution, and not a nickname, abbreviation or acronym. We cannot guarantee that your financial institution can be added to the system.
Can I exclude a Bank Independent account?You can exclude any of your Bank Independent accounts from your Net Worth total, Budget total, and transaction view, but these accounts cannot be deleted from My Finance.
Why is an account on the Accounts page grayed out?If the account is grayed out, the account has been excluded from your Net Worth and budget. If you wish to include the account, simply remove the check from the “Exclude” option on the Accounts page.
Why does part of my account number contain “X’s?”To protect your account number from being viewed or obtained by unwanted individuals, the system masks part of your account number.
Why don’t I see the Delete icon by every account in My Accounts?If the Delete icon is not displayed the account cannot be deleted. Only an external online account or offline account can be deleted. However, online Bank Independent accounts can be excluded from Net Worth and Budget.
What is an offline account?An offline account is an account where online account access is not available. Account information and transactions must be manually entered into My Finance. You can create an alert to remind you to update this information on a regular basis.
Are “How Am I Doing?” messages automatically deleted or removed from the Dashboard after a certain amount of time or do I have to delete them manually?You must manually delete these messages. However, please note that if you delete the “uncategorized” message but do not categorize all transactions, the message will be displayed again the next time you access the Dashboard.
What is the “Can I Buy It” button?This tool provides you with financial information to consider when you are looking to make a purchase or set financial goals.
What do the rating stars mean?The five-star rating indicator is a quick visual summary of how well you are staying within your budget, meeting your savings goals, categorizing your transactions, and tracking and updating accounts. The more gold stars you see, the better your overall performance.
What is the difference in Cash Flow and Forecast Cash Flow?Cash Flow is your actual income less your expenses for the current month, whereas Forecast Cash Flow is budgeted income less budgeted expenses.
Why don’t I see Forecast Cash Flow on my Dashboard in My Finance?Forecast Cash Flow is displayed immediately below Cash Flow in the Current Month Status panel on the Dashboard. However, it is only displayed if you have created a budget. If you have not created a budget, this information will not be displayed.
What is a wizard?A wizard is a series of dialog boxes to assist you in completing a task. You must either click a button to proceed or click the “Cancel” button to stop the wizard before returning to the user interface from the dialog box.
Why are there asterisks (*) by some fields in wizards and dialogs?An asterisk by a field indicates that you must provide the information requested or select a value from the drop-down list field or multiple options field.
I have received a “System Unavailable” message. What does this mean?Hopefully you will never see this dialog box. However, if you do, it is probably because the system is down for maintenance. Please try again later. If the problem persists, please call Customer Service at (256) 386-5000 or (877) 865-5050.
Why isn’t my account being updated?Your Bank Independent account information should update successfully each night. Most update errors occur due to modified or expired credentials associated with external accounts you have imported into My Finance. To ensure your credentials are up-to-date, click on the account’s link within My Finance, and select the “Update Credentials” button, where you will be prompted to enter your correct User ID and password for your external accounts.Another common update error involves Multi-Factor Authentication (MFA). Your external institution may ask for additional authentication information, and you might need to click the account’s link and select the “Synchronize” button to answer your MFA questions.
Can I search transactions in My Finance?Yes, you can search for transactions by description and/or date range using search fields. Available date options are All, By 30 Days, By 60 Days, By 90 Days, By Month and by particular date range selected.
How do I categorize my transactions?The system will perform automatic categorization of most transactions. If the system is unable to recognize and categorize a transaction based upon what it has learned from your previous input, it is referred to the Uncategorized Expenses category. You can re-categorize transactions by dragging and dropping the transaction from one category to another or by clicking on the transaction description to access the category field. You can also set up your own personalized categories, and assign transactions to them.
How do I split a transaction for categorization in My Finance?On the Transaction Details dialog box, select “Click to Split Transaction.” This will allow you to categorize multiple items within one transaction (for example, a $100 expense at a superstore may include $50 to Automotive Expenses, $25 to Groceries and $25 to Clothing).
How can I delete a category or subcategory?System-level categories/subcategories cannot be deleted. However, you can delete those that you have created. Just select the Transaction panel, click the “Category” link to see a listing of your transactions, double-click the category you would like to delete, and select “Delete.” If the Category you would like to delete has subcategories, you will need to first delete the subcategories. Once a category/subcategory has been deleted, any transactions associated with those will be moved to the “Uncategorized” category.
What other options are available to help me categorize my transactions?Categories and subcategories can be created, updated or deleted. Categorization rules may also be created. A categorization rule overrides the category in which a transaction would have originally been placed. The systems will also learn your categories and begin to categorize based on preset categorization rules.
How do I create a budget?There are three ways you can create a new budget, and your setup process will vary based on the Financial Goal you’ve selected.• My monthly income is fixed, so I want to save ___% of my monthly income: This option allows you to specify how much of your income you would like to save based on your spending for the last three months. You will get a better understanding of your spending habits and where adjustments might need to be made. We highly recommend this option.• Create a budget for me based on my last three months of spending: After entering your average income amount the system will automatically create a budget based on your spending history.• Create a budget for me based upon demographics: After entering your average income amount answering questions about age, education, housing, region, etc., the system will then create a budget based on average spending habits of others who fit within the same demographics.
What is the difference between a budget and a financial goal?A budget allows you to monitor income and expenses, while a financial goal is a monetary amount you want to achieve by a certain date, such as saving money for a vacation.
How do financial goals impact my budget?If you add a financial goal and have selected the “Include in Budget” option at the end of the Add Financial Goal wizard or made the same selection when modifying a goal, the goal is included in the Savings Goals entry in your budget.
What types of financial goals are offered in My Finance?There are two types of financial goals: Retirement or Other (non-retirement). Each goal can consist of multiple asset accounts that are tracked to show your progress towards meeting the goal. Financial goals are placed in a Savings Goal category on the Transactions page and optionally on the Budget page.
Can I set up alerts in My Finance?Yes. My Finance allows you to set up alerts for your Bank Independent accounts as well as the external accounts you’ve connected to My Finance. Alerts are messages you create to notify you of an event. Notifications are delivered within My Finance and can also be delivered to your email address.
Are the alerts available in My Finance the same as the alerts in Online Banking?No, although the systems do offer a few of the same options (such as the balance threshold alerts), the majority of the alerts available within My Finance are unique to the My Finance system.
What types of alerts are available?There are several types of alerts within My Finance:• Budget Threshold: when an amount or percentage approaches or exceeds either the whole budget or a selected budgetary item.• Account Threshold: when an account balance is under or over a certain amount.• Account Credit/Deposit: when a deposit or credit transaction is made to a designated account.• Account Update Reminder: a periodic reminder to update an account.• Transaction Merchant: when any transaction is made at a designated merchant.• Transaction Amount: when a transaction for a designated account exceeds a defined amount.
When adding a Transaction Merchant alert, does the name of the merchant have to be an exact match?No, but Transaction Merchant alerts are based on matching the description/memo fields of a transaction. Other characters can be in the description, but the sequence of characters specified in the alert must exist for this alert to trigger.
How do I disable My Finance alerts?To disable and alert, go to the Alerts option and uncheck the box under the “Enable” column. If you want to permanently delete an Alert, click the red “X” under the “Delete” column.