What is Balancion?

Balancion is an independent online service, designed for personal financial management, planning, and monitoring. The service allows you to bring together financial data from banks across the web.

What are the benefits of Balancion?

With the help of Balancion:

  • You can retrieve all bank account details and card information from your e-bank to the same
  • You get a unique view of your own financial situation
  • You can see how your expenses and income compare to each
  • You set expenditure and savings goals and track your
  • You create a budget for yourself or for your family
  • You monitor your loans and debts

What are the technical requirements for the service, or what do I need to use the Balancion service?

You will need a computer and internet access in order to use the service. Tarvitset palvelua käyttääksesi tietokoneen ja Internet-yhteyden. In addition:

  • Java 1.5 is required to transfer transaction details. You can download it here. NOTE. Update to the latest version of Java to ensure the service functions.
  • The service supports Internet Explorer 7.0, Mozilla Firefox 2.0, Chrome or Safari 3.0 and newer, browsers. NOTE. The service doesn’t support Internet Explorer 6.
  • Unfortunately, you can’t use OS X version 10.4. to transfer transaction details, otherwise the service functions normally with this version.

I have forgotten my password. What can I do?

You can change your password within the login page by clicking the ”Forgot your password?” link. To restore your password you need to answer previously chosen security questions.

Does Balancion support other than Finnish banks?

Only Finnish banks and credit card companies are currently supported by Balancion.

What kind of information is transferred from my bank?

A tool developed by Balancion allows users to transfer transaction information from online banks to Balancion service. Depending on the bank and the contract, the time frame that you can get transaction information is one month and up to two years. The time frame depends on how far in the past you can see with your first search. The next time, the tool searches only for new information, which has appeared after the previous search.

How do I transfer my transaction details into the service?

  • When you click the logo or name of your bank on the ”Accounts and contracts” tab, you start the tool you can transfer your transaction details with.
  • The tool guides you through the bank’s login process.
  • After logging in, the tool retrieves only your transaction details from the online bank, and transfers them to the Balancion service.
  • You can use Balancion normally during the data transfer. The service will notify you when the transfer is complete.

Retrieving and transferring transaction details are implemented using HTTPS protocol (same protocol as with regular online banking). Note! Nordea customer: If you encounter an error while searching for a single Nordea account, try the following: login directly into your Nordea bank account (not through Balancion) and rename the account, which caused the error with the name you want. Then return back to Balancion and try searching again. If the search fails again, notify us about the problem by emailing palaute@balancion.com

What kind of information do I have to manually enter into Balancion?

  • Cash withdrawals need to be entered by hand, if you want the purchase to be registered as an expense in the right category. This works by moving the withdrawal into one or several categories.
  • The Balancion service doesn’t always categorise every transaction automatically. When this happens, you need to edit the transaction manually. This is needed, especially when you use Balancion for the first time. However, the service “learns” from you, so you need to edit the transaction only once.
  • You may have to manually edit information concerning department store purchases, since you can buy different things from there, such as clothes and electronics.
  • Cash assets have to be recorded manually in the Balancion service.

How does the automatic categorisation of transactions work?

Automatic categorisation of transactions in Balancion service is based on a learning system, in which users teach the system to categorise the transactions properly. Balancion has applied for a patent for the system. The system recognises transactions to be similar on the basis of, for example, a payee or a payment amount. Thus, improving the categorisation day by day. Unlearned transactions or transactions, which cannot be reliably identified, will be uncategorised.

Will the Balancion Tool retrieve paid content from online banks?

With the help of Balancion tool, a user searches account and credit transaction details from online banks. Generally, this isn’t paid content. Exceptions would be, amongst other things, business accounts and corporate credit card information. For example, if you search for some Cooperative Bank business account or credit card transaction details, you are required to pay a fee. You can check from your own bank, if you are required to pay a fee to search some account details. Please note, that Balancion service isn’t intended for managing business accounts or corporate credit card transactions. Support for Nordea Stockmann Mastercard transactions isn’t available at this time, since browsing it’s transaction details is a paid service.

Can I permanently delete all accounts and personal information from the Balancion service?

You may, whenever you wish to, cancel your Balancion account by removing your account at ”Accounts and cards” web page. If you wish to permanently delete your user name, you may do so by visiting the “Settings” link in the right corner of the web page.

Does Balancion disclose or sell personal information to third parties?

Balancion will not sell or disclose customer information to third parties.

Where can I give feedback on the Balancion service or these web pages?

You may send your feedback to email address palaute@balancion.com or contact us by phone on 0800 158 158. We appreciate all feedback!

Security related frequently asked questions

Why does Balancion ask for my online banking login information?

The service never asks for users’ online banking login information. Balancion service’s user signs himself into the bank in order to retrieve account details. Balancion never sees any of the user’s login information. Signing in to the bank is necessary to read the transaction details. There will be no changes made to the online bank when information is retrieved. Information is retrieved over a secure connection, and only when the user wants to.

Is my online banking login information stored in Balancion servers?

Online banking login information is not stored in Balancions’ service. A user signs directly in to his bank’s online service.

How is my information protected during the transfer of data?

Balancion uses HTTPS protection during the transfer of data. For example, the same kind of protection is used when signing into an online bank.

What kind of information is available to Balancion employees or administrators?

Balancion employees and administrators can only see registered users’ email addresses. Customer service or management doesn’t see transaction details, or which transaction details relate to a certain email address, or what actions a user has made. All personal information, such as account numbers, payee or payer names, or a payment’s message, are encrypted within the database.

Do Balancion employees have access to my baking details or credit card numbers?

Balancion employees and administrators can only see registered users’ email addresses.Balancion employees. Customer service or management doesn’t see, which transaction details relate to a certain email address. Additionally, all personal information, such as account numbers, payee or payer, and payment’s message, are encrypted. Credit card numbers are never downloaded into a Balancion’s server, they are replaced before transfer with the same kind of fingerprint identification, similar as what stores use.

Are credit card numbers stored into Balancion?

No. Credit card numbers are never downloaded into a Balancion’s server, they are replaced before transfer with the same kind of fingerprint identification, similar as what stores use.

Are bank account numbers stored into Balancion?

Bank account numbers are retrieved into Balancion only for display purposes. Account numbers in the database are in encrypted form.

If someone obtains my Balancion login information, does he also have access to my bank’s online service, and is he able to make changes there?

No. It’s not possible to use a bank’s online service via Balancion. Bank account information can only be retrieved to Balancion service using the bank’s login information. Even then, only transaction information can be retrieved and it’s impossible to make any changes...