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Financial Web Sites

Managing Money Online

Getty Images / Nick Koudis
Definition: WebConnect is a method of downloading transactions from financial institutions so that the transactions appear in the appropriate account registers in your personal finance software.

WebConnect is supported by just about all banking institutions and requires the user to download a data file to their computer. After the file is downloaded, it is either automatically opened by the financial software or the user can initiate importing the data from the file into the software.

WebConnect is particularly useful because it allows the user to specify a range of dates for the transactions to be downloaded. Another common data transfer called Direct Connect downloads transactions directly from the financial institution to the software, but doesn't have the date selection flexibility, and may download too many transactions when setting up accounts in personal finance software. Of course, how far back transactions go in accounts is a personal preference.

Common Misspellings: Web Connect
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