Bank Feed Changes from September 2019

Bank Feed Changes from September 2019

The main news in the Xero-sphere over the summer is the way bank feeds will be operating.

New EU standards, that are due to take effect from 14 September 2019, will change the way that some banks connect to Xero.

Specifically, Yodlee & Barclays bank feeds (in the way that they are at the moment) will no longer be available, so to comply with the new requirements, Xero will be migrating existing feeds to their new solution between now & 14 September.  Xero are regulated & authorised by the FCA to access bank information when you ask them to (i.e., setting up the bank feed).

As we get closer to this date, to ensure your bank transactions continue to flow into Xero, you may need to update your existing bank feed to a new open banking direct feed.

If you’d like to read Xero’s full blog on open banking, please read here,

 

Xero really does help all businesses regardless of size or complexity!  To find out how Xero can help your business  please contact us here.

Hayley Bradshaw
hayley@progressionaccountancy.co.uk

Helping businesses achieve financial clarity & time back, by creating an efficient bookkeeping system | Xero Training

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