Commonly Asked Questions

 

Getting started with any new tool usually comes with a lot of questions. We know creating a Ruby Circle is no different. So, we’ve put together a list of answers to the questions we get asked the most.
“There are so many things that I did not know about and questions I really didn’t even know how to ask.”
- Janet, A Family Caregiver to her Mother Nashville, TN

Who is Ruby For?

Ruby is for families who are sharing the responsibility of caring for a loved one. Creating a Ruby Circle lets you work together to keep an eye on finances and share important information. Ruby will help your family get organized, stay on top of finances, and make sure that everything is OK.

We know how important your data is to you. Likewise, Security is our top concern and a core part of our value.

Ruby was started by First Horizon National Corporation, a 155-year-old FDIC-insured bank. Ruby’s technology systems are managed with similar security standards as First Horizon — in fact, we share many of the same processes, procedures, and personnel for managing risk.

First Horizon is insured through the Federal Deposit Insurance Corporation (FDIC), an independent government agency. For the FDIC to insure deposits at First Horizon, the bank is required to maintain and prove the safety and soundness of its operations and technology — including Ruby.

Your Ruby account information is stored with 256-bit encryption, 100% private, and viewable only to authorized members of your Circle. Not even our own Customer Care team can see the details of your Circle’s transactions and account information without your permission.

Ruby uses Yodlee to securely connect to more than 15,000 financial institutions across the U.S. During the setup process, you are asked to enter your online banking credentials. These credentials are never shared with Ruby or stored on our servers in any way — they are sent through Yodlee to your bank or credit card provider, who then authorizes an encrypted token to Ruby which provides read-only access to transaction data. Ruby cannot move money or make any changes to your account in any way, and you can revoke our read-only access token by unlinking your account at any time.

Should you have any questions about Ruby’s security practices, please contact us. We’re happy to provide more detail.

Ruby provides families with financial peace-of-mind by using real-time read-only financial data from connected checking, savings, and credit card accounts.

The accounts are connected to your Ruby Circle through a 256-bit encryption process provided by Yodlee. During the setup process, you will be asked to enter your online banking credentials. These credentials are never shared with us or stored in any way – your usernames and passwords remain protect and anonymous. Via Yodlee, your bank authorizes an encrypted token to Ruby which enables read-only access to transaction data. Ruby cannot move money or make any changes to your account in any way, and you can revoke our read-only access token by unlinking your account at any time.

Ruby helps families with two things. First, we help you organize all the information your family may need to provide care to a loved one.

We’ve thought beyond the standard estate documents and medical wishes – the Ruby platform lets you store detailed information like allergies or medications, an image of your health insurance card, or even the contact information for a trusted handyman. Our goal is that, no matter what happens, your family has the information you need, when you need it.

Second, Ruby lets you keep an eye on financial activity for your loved one and watch out for fraud or financial mistakes. It is a sad truth, but as people get older, any amount of memory loss puts finances at risk. From simple mistakes to the real threat of elder fraud, Ruby wants to provide transparency to help keep your loved one’s money safe, and keep their independence longer.

In life, we all have circles of friends and family. In Ruby, you’ll have the same. A Ruby Circle is a safe place to keep an eye on finances and organize information. You will name the Circle after the person being cared for, and you can invite collaborators to share information and get insight into financial activity.

Ruby is free of charge for your first three months. After that time, Ruby is $4.99 per month for each Ruby Circle you have set up. That means if you only have one Circle set up for a loved one, it will only be $4.99 per month. But if you set up a second Ruby Circle for another loved one, it will cost $9.98 per month. You can cancel at any time.

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