Say hello to BankClarity

BankClarity, a company that provides software for businesses to monitor their bank and credit/debit card accounts, as well as making cashflow forecasts etc., has moved into the personal space.

BankClarity Personal sells for £29.95 and does exactly the same as the business editions, but with the additional ability to set safety parameters and monitor your accounts for non-standard activity.

The company says that the software is primarily designed to help in the fight against debt, but it is also billed as tackling ID and transaction fraud.

What makes the software stand out is that it accepts online statements - basically you log the software on and it whirrs away on your accounts before presenting you with a personal drill-down statement on your finances.

So far, so good. Until you read your bank or card companies' terms and conditions, which - in all the cases I've come across - explicitly forbids the issue of online IDs and passwords to third parties.

BankClarity Personal looks an interesting product. I wonder what will happen when one of its customers has an account hacked or defrauded - what will the bank or card issuer say?

I can hazard a pretty good guess - hey Mr Customer, do you like sex with travel?...