What is MoneyHQ?
A. Money HQ provides you with the ability to consolidate your online financial account information into one site and to move money between accounts and individuals. The consolidation of information is sometimes referred to as account aggregation. The gathering of information is accomplished by a very simple process. On your behalf, we log into your online financial account, using the credentials you provided during the setup of the account. We then parse the web site to retrieve your account data. Once we’ve gathered this information, it will appear within our site on your accounts page. When you would like to move money between your accounts we will perform a debit against (remove funds from) the account you specified and then credit (deposit into) the other account. We utilize a variety of electronic funds transfer networks such as the Automated Teller Machine (ATM) network and the Automated Clearing House (ACH) to facilitate the movement of your money.
