The Odyssey of APIs: How I Finally Got My Bank Data Without Selling My Soul
This is one heck of a journey I've been on! From diving into the depths of APIs to finally finding my treasure in Pocketsmith. Allow me to present this entertaining and insightful article that not only shares my experience and frustrations but hopefully guides you who may be on a similar quest.
Setting the Stage: My Quest for Financial Data Freedom
Ever tried to get your own bank account balance and transaction history via an API? Sounds simple, right? Well, let me tell you, it's anything but. Join me on this rollercoaster ride as I navigate the labyrinth of financial APIs, only to find the Holy Grail where I least expected it.
The Quest Begins: Why Australian APIs?
My journey started with a simple goal: I wanted to get my own bank account balance and transaction history without having to log into my bank's clunky website every time. But there was a catch—I wanted an API that was Australian-based. Why? Enter the Consumer Data Right (CDR).
What is the Consumer Data Right?
The Consumer Data Right is an Australian regulation that empowers consumers to securely share their data with accredited services. It aims to foster competition and innovation by allowing consumers to take control of their data.
Accredited Data Recipients
In the CDR ecosystem, Accredited Data Recipients are services that have been vetted and approved to receive consumer data. They play a crucial role in ensuring that when you access your data, it's done securely and responsibly.
The Evaluation Gauntlet
I went through a gauntlet of APIs, each with its own quirks and limitations. From Plaid to ASIC's data.gov.au, MindCloud, Boss Insights, BizAPIs, and Finage, none seemed to fit the bill. Then came Basiq, an Australian gem that seemed to tick all the boxes. But there was a twist.
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Plaid: Provides financial data but doesn't operate in Australia.
- What it Provides: Standard JSON responses for financial data.
- Limitations: Not available in Australia.
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ASIC's data.gov.au: Focuses on business transactions and company registration.
- What it Provides: Business names transactions, company registration, and maintenance.
- Limitations: Doesn't provide personal financial data.
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MindCloud: An API integration platform.
- What it Provides: Allows different applications to communicate through APIs.
- Limitations: Not a financial data API.
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Boss Insights: Provides access to business data.
- What it Provides: Common data model to access various business objects.
- Limitations: Doesn't provide personal transaction data.
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BizAPIs: Unclear offerings.
- What it Provides: List of current APIs information sources in the EUA.
- Limitations: Unclear if it operates in Australia or provides personal financial data.
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Finage: Provides a wide range of financial data.
- What it Provides: Real-time and historical rates for currencies and crypto.
- Limitations: Unclear if it operates in Australia or provides personal financial data.
The Basiq Saga: A Plot Twist
Just when I thought I'd found the one, I realised Basiq was designed for building apps for "clients." I could create a budget app and have users grant my app access to their data via Basiq's API. But all I wanted was my own data! I even started building my own PHP API for Basiq, thinking something would work out. I didn't want to go through the red tape of becoming an "accredited data recipient" just for my own bank data.
The Revelation: A Friend's Wisdom & The Pocketsmith Era: A New Dawn
After two weeks of toiling away, my workstation decided to give up on me. While getting it fixed at a friend's place, I mentioned my Basiq adventure. He said, "Mate, you should look at Pocketsmith." And there it was, the answer to my prayers.
What is Pocketsmith?
Pocketsmith is a comprehensive budgeting application that also offers an API. They provide extensive guides and documentation on their developer hub.
The Pocketsmith Era: A New Dawn
Pocketsmith offered exactly what I was looking for, at $20 a month. They even had a comprehensive OpenAPI-compatible API definition on GitHub. Using openapi-generator, I magically created a PHP API for Pocketsmith. Now, I'm working on integrating it into a Drupal module. Finally, I can access my account details the way I want to, focusing only on my 'available' balance, not the 'actual' one.
The Road Ahead: Small Things, Big Impact
Now that I've got what I've been yearning for, it's time to explore the possibilities. From hiding pending transactions to customising how I view my account, the world is my oyster.
The Final Chapter: Lessons from My API Adventure
Sometimes, the journey is as important as the destination. My odyssey through the world of APIs taught me that while the perfect solution might not be where you first look, it's out there waiting for you to find it. So, if you're on a similar quest, don't lose hope. Your Pocketsmith might just be around the corner.
