NBS Money FAQs

NBS Money is being developed in partnership with Moneyhub Finance Technology who provide secure, Open Banking integrations and applications to businesses and individuals.

The applications they develop give users a holistic view of their financial world, a true understanding of their incomings and outgoings and smart nudges to help them make the most of their money,

This 3-month trial is a 'test and learn' initiative to help us determine if such an application would be a useful and welcome digital tool for our members. 

At the end of the trial we will review the feedback gathered and provide trial participants with the outcome of our findings.

NBS Money is a mobile and desktop application which aims to provide you with access to your finances wherever you are. We are offering this service to our customers and employees as a part of a pilot and would welcome your feedback on the service. In addition to viewing your NBS savings accounts and mortgage balance you will be able to connect to your current account(s) via open banking. You can also add credit cards, investments and pensions to give you a complete view of your finances in one place.

Newbury Building Society have partnered with Moneyhub Financial Technology to provide the NBS Money application for a 3-month test and learn trial.  

Together, the Society and Moneyhub Financial Technology have developed a bespoke trial application by 'white labelling' the established Moneyhub application and have created additional functionality, bespoke to Newbury Building Society mortgage and savings customers. 

Moneyhub Financial Technology, a company who provide secure, Open Banking integrations and applications to businesses and individuals is a registered AISP (Account Information Service Provider) and PISP (Payments Initiation Service Provider), reference no. 809360.

You have been sent an invitation to join the pilot for NBS Money. This pilot is exclusively available to Newbury Building Society customers and employees and will run for 3 months. If you would like to take part in the pilot please follow the instructions within your sign-up email. If you agree to take part your account will be activated for you so you can see your Newbury Building Society saving(s) accounts. You will receive an activation code via secure message in myaccounts and an email with the link to access your account.

The Financial Conduct Authority (FCA) has released information on your rights as a consumer who shares their information with a third party application, such as NBS Money.

The following is an excerpt from this information:

"Your banking terms and conditions should not prevent you from sharing your credentials with regulated AIS or PIS providers. Your bank or building society cannot hold you responsible for unauthorised transactions just because you have shared your credentials with AIS and PIS providers."

To see more please visit the FCA website here.

Moneyhub Financial Technology provide the NBS Money service on behalf of Newbury Building Society.  Moneyhub Financial Technology is a registered AISP (Account Information Service Provider) and PISP (Payments Initiation Service Provider), reference no. 809360.

This means your bank or building society is still responsible for your money and accounts in the unlikely event that things go wrong with NBS Money, as the FCA has given us AISP permissions only.
 

If you have already set up online banking or downloaded the app for your financial provider on your mobile your details will be authenticated using your financial provider’s app.  

If you do not have the banking or financial provider app on your phone or are on desktop you will be asked to login using the credentials your provider requires to authenticate you.  MoneyHub store your credentials to enable you to stay connected to your bank account, they do not store login credentials like user name and password but do store the credentials that they need for open banking and for 3rd party data aggregation via Yodlee.  

Moneyhub use secure bank level encryption to connect and sync your accounts, they encrypt credentials and keep them separate from your personally identifiable information. To retrieve your transaction history your details are automatically unencrypted and used to retrieve your transaction history, then immediately re-encrypted.  Your financial details are private, neither us or Moneyhub store or have access to these details.

If you would like more information regarding how open banking works from a security point of view, please go to this page of the Moneyhub website: https://www.moneyhub.com/security

Only accounts where you are the owner are displayed in NBS Money. If you want to add any joint accounts to the App, please note your provider may request permission from the other party before your accounts are displayed.

Moneyhub always take privacy and the protection of  personal data seriously. GDPR (The EU’s General Data Protection Regulation) came into effect on the 25th of May 2018 and sets out your individual data protection rights. The way in which Moneyhub fulfil your key rights under GDPR are detailed below:

Right of access

For the NBS Money service, the majority of the information that Moneyhub hold, is information that you have added yourself via the app or the transactional information sent to Moneyhub by us and your other financial providers. This information is available in the NBS Money app, however you can also write to Moneyhub to ask them to share with you the personal data they hold about you.

Right to be forgotten

If you no longer want to use the NBS Money service you can write to Moneyhub and they will delete your account. Moneyhub's deletion process ensures they remove all data (apart from the emails that you’ve sent to them) that they hold about you from their systems and the third parties that they use.

Right to data portability

All of your transaction data is available to download from within NBS Money. Should you require data provided in a different format then please contact Moneyhub. Please refer to their privacy policy for more details and don’t hesitate to email them at support@moneyhub.com if you have any questions.

Our support team  are able to help 9am-5pm Monday to Friday, please email them on nbsmoney@newbury.co.uk

For enquiries relating to the Newbury Building Society myaccounts online system, see the My Accounts FAQs.
 

How do I unsubscribe or delete my account?

If you wish to leave NBS Money then simply message us through 'Settings' > 'Support'. 

Why aren't my accounts automatically refreshing?

If you are experiencing problems with the automatic refresh of one of your accounts try manually refreshing your connection by going into 'Connections' > select the account that was experiencing problems > 'Refresh Connection'. If this doesn’t work please take the following steps:

  • Sign out of NBS Money and then sign into your respective online banking website, (myaccounts for NBS savings accounts) specifically with a PC or laptop. This is to ensure there are no issues with the account’s website, or with your login credentials. Sometimes it is simply an update in your online banking that needs to be cleared or accepted.
  • Sign out of your online banking and wait at least 10 minutes before logging back into NBS Money.
  • Once you've signed into NBS Money, go to 'Account and Assets' > select the account that was experiencing problems> 'Manage Connection' > 'Re-authorise'.
  • Re-enter the credentials that worked on your online banking website and then continue to re-verify your connections.

If you’re still experiencing problems then please contact support through the 'Settings' > 'Support' option in NBS Money and we will look into this for you.

Why won't my account connect to NBS Money?

If you are experiencing problems with connecting one of your accounts to NBS Money please take the following steps:

  • Sign out of NBS Money and then sign in to your respective online banking website, (myaccounts for NBS savings accounts) specifically with a PC or laptop. This is to ensure there are no issues with the account’s website, or with your login credentials. Sometimes it is simply an update in your online banking that needs to be cleared or accepted.
  • Sign out of your online banking and wait at least 10 minutes before logging back into NBS Money.
  • You can then attempt to connect your account again, using the same credentials that were successful within the online banking website.

If you’re still experiencing problems then please contact support through the 'Settings' > 'Support' option in NBS Money and we will look into this for you.

How often do accounts refresh?

Your accounts should automatically update every 24 hours, but please note that this may not be at the same time each day/night. If this isn't the case then you can manually refresh your connection through the 'Connections' page.
If this doesn't work then you can send us a message through the 'Settings' > 'Support' option within NBS Money. We will take a look at your account for you to see if there are any technical problems and get them resolved.

If you are unable to see transactions on NBS Money for your NBS savings accounts after 48 hours, please contact us on 0800 988 4857 or email myaccounts@newbury.co.uk.  

Why isn’t my savings/current account automatically refreshing?

Your connected accounts should update automatically every 24 hours, but please note that this may not be at the same time each day/night. To enable the automatic updates to work, you must ensure that your accounts have been connected using an appropriate 'sign in' method. This is an issue Moneyhub users experience - making a note of this will help the NBS Money support team help you. 

If you’re connecting an account that uses multi-factor authentication (MFA), such as Barclays, then you have to make sure you input certain credentials. MFA is a security systems that involves both a password and a second layer of security that involves action there and then, like a PINsentry.

If you connect it with a 'PINsentry log-in', you will not receive auto-updates for your transactions and account balances, because you'll be required to use your PINsentry each time you wish to get updates.

If you connect your accounts with a 'Memorable word and passcode log-in', you should be able to get auto-updates every 24 hours within NBS Money.

If you’re connecting a (non NBS) account that uses multi-factor authentication (MFA), then you have make sure you input certain credentials. MFA is a security system that involves both a password and a second layer of security that involves action there and then, e.g. PINsentry.  

If you connect it, for example with a 'PINsentry log-in' or a physical secure key, you will not receive auto-updates for your transactions and account balances, because you'll be required to use your PINsentry/physical secure key  each time you wish to get updates.  

If you connect your accounts with a 'Memorable word and passcode log-in', you should be able to get auto-updates every 24 hours within NBS Money. 

Why aren't my Newbury Building Society transactions appearing in the App?

The App shows your account balance for any NBS savings accounts you hold. We are unable to show transactions that have occurred on your account in the App in the current format. To view any transactions on your account please log into myaccounts or register to view and transact at https://www.newbury.co.uk/myaccounts/

I'm having a problem with my NBS Money account that isn't helped by the FAQs, how do I get this fixed?

If you're having an issue with your NBS Money account please email nbsmoney@newbury.co.uk and send as much information as possible. Include screenshots (hiding personal/financial information), error codes and all of the details you can. Alternatively you can send a secure message through myaccounts.  

The NBS Money support team cannot see any of your banking information on your NBS Money account but are able to view transactions on your NBS savings account outside of the NBS Money app..  

We are not able to see values or transactions or anything of that nature, so you need to tell us exactly what is wrong so that we can help you.  

What do I do if you don't connect to my bank or building society account, or I want to add an asset or property to NBS Money?

If we do not connect with your bank or building society provider or you want to add an asset to your account, like a piece of property, boat, or a valuable item, simply go to ‘Accounts and assets’ > ‘+’ and from the dropbox under ‘Add manually’ you can choose what to manually add to your NBS Money.

You can also send a request to have a site added to NBS Money via by emailing us at nbsmoney@newbury.co.ukJust send the exact URL of the log in page for the provider and we can submit a request on your behalf to have it added.

How do I manually add transactions or accounts?

To add a manual account simply go to ‘Accounts and assets’ > ‘+’ and from the dropbox under ‘Add manually’ you can choose what to manually add to your NBS Money.

If you've created a manual account and want to add a transaction to it, simply go to 'Transactions' > '+' and add transactions there. You must have a manual account to add manual transactions

How do I add custom categories?

To put a transaction into a custom category from the transaction inbox simply click on the edit pencil, choose a main category that your custom category might go into, scroll to the bottom and choose ‘+ New Category’ and then name your new custom category.

To put a transaction that is already categorised into a new custom category simply click on the transaction, click ‘Change’, and then follow the process above to create a new category for this transaction.

How do spending budgets work?

If you need to take control of your finances and want to start setting limits to your spending then set up a budget in any category you choose. To set up a budget go to: 'Planning' > 'Spending Budgets' > ‘+’ and choose a category to set a budget in. You will receive nudges if you are nearing or over your budget for each month in any category you set up a budget for.

What is spending analysis?

The spending analysis option shows how much you are spending in certain categories, and you can compare to previous months. Toggle the graph option in the top right-hand corner to choose different graph views.

What is income analysis?

The Income Analysis option shows where your income is coming from and how much you’re earning compared to previous months.  Toggle the graph option in the top right-hand corner to choose different graph views.

What is forecast?

Forecast lets you see where you can cut back your spending, how much money you might have in the next few months and lets you see how a big spend like a holiday, house or car might affect your finances. Simply choose what accounts to include, set your expected monthly income, your expected monthly expenditure, and press start!

How do I export data?

If you wish to put your data into a spreadsheet or would prefer to keep an easy-to-read  copy of all your transactions you can expert your data in a spreadsheet format through ‘My Money > ‘Transactions’> ‘Cloud icon’ in the top left corner. You can also export the transactions based on the filters you apply in this section. 

How do I split transactions across a number of categories?

If you click on the pencil icon on a transaction you have the option to split the value of it amongst as many categories as you want. You can also add notes to the transaction there, almost like a tag, which you can then search in the future.

Why can I only scroll through three months of transactions?

You can only scroll through three months of transactions due to long loading times, but if you’re using the search option you can search through all the transactions that have come through. To search through transactions go to your transactions page and click on the magnifying glass on the top right hand corner.

How do I search through transactions, or filter them?

To search through transactions go to your transactions page and click on the magnifying glass on the top right hand corner. You can add filters, and search by a number of criteria, including name, account, date and value ranges, category and notes made. You can also export the transactions based on the filters.

How do I edit transactions?

You can edit a transaction by clicking on it, then clicking on the pencil in the top right-hand corner. From there you can change the name of the transaction, the category it has been assigned and add a note to it.

How do I edit an account name?

To rename an account, go to the Accounts and assets tab, then select the account. Click on the pencil icon in the top right corner and change the name of the account to whatever you like. This way transactions and any spending analysis will have the names of the accounts of whatever you designated them.

How do I hide an account so that the data no longer appears in NBS Money ?

To keep an account connected to your NBS Money but not have any transactions come through or not have it included in your net worth, simply go to: 'connections' > click on the connection you wish to hide > click the 'hide/show' toggle.

My bank or building society account has been closed, or I'm seeing a '414' error, how do I save the data in NBS Money and stop the error?

If you have recently closed an account, or simply no longer use one, and still want to keep all the data from within NBS Money then go to Accounts and Assets > Account you wish to archive > Archive. This will archive all the data from your account within NBS Money.

How do I edit how much an account contributes towards my net worth?

To change how much an account contributes to your net worth go to the Accounts and assets tab, then select the account. Click on the pencil icon in the top right corner and change the % that this account contributes to your net worth, from 0-100%.

How do I add a pre-arranged overdraft limit?

To add a pre-arranged overdraft limit to an account go to the Accounts and assets tab, then select the account. Scroll down to add an overdraft limit, to edit this click on the pencil icon in the top right corner and input the overdraft limit.

How do I add an interest rate to an account?

To add a current interest rate (AER) to an account go to the Accounts and assets tab then select the account. Scroll down to add a current interest rate, to edit this click on the pencil icon in the top right corner and input the current interest rate. This helps NBS Money offer better nudges because of the added information. You do need to keep this updated, it will not change automatically if there is a change to the interest rate on your account.

How are transactions automatically categorised?

Through artificial intelligence NBS Money is able to, with 85% accuracy sliding to 95% accuracy with continued use, determine the category that a transaction might belong to. To allow for category spending analysis and the setting of budgets then click the tick if the category a transaction has been assigned is correct, or click the category icon to change the category.


 

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