Business, Legal & Accounting Glossary
Account Aggregation is the name given to a facility which lets you view various bank account or credit card balances online, on the same screen, with only one login needed.
To make it work you need to give the aggregation provider your login details for each account, and then once you log in to the ‘master’ account the web site automatically retrieves your other balances and displays them in an easy to read table.
Account aggregation can be a timesaver for those with many accounts to check on a regular basis, but the security implications of providing account login details shouldn’t be overlooked – make sure any company you provide those details to has a cast-iron security policy and guarantee.
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This glossary post was last updated: 20th March, 2020 | 1 Views.