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Community > App Reviews >

Bankfeeds.io

Started by Xero API -   in App Reviews |Payments

3.4 out of 5 stars
 
Based on 8 user ratings
If you are a user of Xero and Bankfeeds.io, tell us how you are getting on and your experience so far. Any tips?

About Bankfeeds.io


A connector between your Stripe and Xero accounts. It runs in the background, automatically importing your Stripe sales, refunds and fees into Xero. For more information, check out Bankfeeds.io.

Tip

Remember if you have questions or need assistance with Bankfeeds.io, this is not the best place to ask - this forum is for reviews and feedback only. For general help see the Bankfeeds FAQ.

Just stumbling across this now, this is still the best time saver I have in with Xero. It seems to always work for me.
 

Mark Jansen  

I have sent 6 emails asking for support because, whilst bankfeeds worked during the free trial period it immediately stopped working once I subscribed.
My requests for support have not been responded to.
Not even a basic, "your enquiry has been received" type thing.
Is any one actually running this 'tech company' or is it some side business earning (very) passive income?
There have been no issues charging my card for their 'services'.
Bankfeeds io - I think someone better get back to me, as I'm owed a refund for 0 services rendered.
 

sally bevan  

Further to Allison's comment, we've also been really happy with Bankfeeds.io but it stopped syncing a couple of days ago (maybe because of the Xero outage). We also have tried to contact support multiple times now and no answer.
 

Rory Birkbeck  

Troy, we have been using the bankfeeds integration for Stripe to Xero for a couple months now and love it. However, it recently stopped syncing and I can't get a hold of anyone from customer service to get this resolved.
 

Allison Tebbe  

I have been using bankfeeds.io for a couple of months and it was great - exactly what I needed for my subscription e-commerce business... perfectly matched all my Stripe transactions in Xero including fees, refunds etc. Awesome...
until...
Unfortunately my wallet and credit card was stolen and my subscription lapsed - I've since updated my payment details but the service hasn't resumed and there's absolutely no contact from bankfeeds.io.

A shame the customer service isn't there because it was exactly what I needed!

UPDATE: eventually got this sorted and all working well again now.
A great tool and massive time saver if you need to reconcile Stripe transactions.
 

Ben R  

UPDATE 5/16/18: Bankfeeds finally contacted me and I was working with them to solve the missing recurring transactions problem, but now it's been radio silence for weeks with no updates. Their customer service (or lack of it) is as frustrating as the missing transactions! Between this and Xero I'm about ready to go back to old-fashioned Excel for my accounting...

UPDATE 4/5/18: While the issue of Bankfeeds not importing anything was resolved, I recently discovered that Bankfeeds has not been importing any transactions that are recurring payments via Stripe. This goes all the way back to October 2017 when I started using the service. I emailed them about this on March 27 and have not heard back.

Beware if you accept recurring payments, as they are not being imported via Bankfeeds into Xero. This can greatly throw off your accounting and revenue accounts!

============================
Troy, I have a question re: "What our app will NOT do is allow you to reconcile these transactions against invoices in Xero as that is currently not possible with the Xero API."

What do you recommend is the best course of action to keep the books in line when running into this issue? Should we un-reconcile and/or delete the transaction in the Bankfeeds account and then reconcile (and attach payment to invoice) with our checking/bank line statement? I think this is what I've been doing but not sure if it's the best way...

Also I've noticed that the transfers to the checking account on the Bankfeeds account side are not automatically reconciled. Does this mess with anything? Should we be manually reconciling?

Loving Bankfeeds.io so far since we've introduced different sales channels that all use Stripe, but answering these questions would help me feel confident our numbers aren't going to be messed up year-end.

Thanks!
 

Matthew Limpede  

Hi Joseph, sorry you had a less than ideal experience with our support. I can see we emailed you on Sept 23 and we never heard back.

I do have an appointment with your assistant next week to resolve your issue.

Just to be clear, we are a different solution to Silver Siphon. Silver Siphon logs in to Xero as a dummy user whereas we are a true API solution.

We used to use Silver Siphon and were uncomfortable with setting them up as a dummy user in or Xero account, that's why we built BankFeeds.

I hope we can resolve your issue and get BankFeeds working for you.
 

Troy Dean  

We run an accounting practice and this is now part of any setup where a client is using Stripe as a payment processor for a website or subscription type service.
While it is not used on customers that have Stripe as a payment option on Xero invoices, its a time-saver (our time, the bookkeeper’s time, the clients time) for clients that were essentially having to manually bring sales data into Xero.

A really great example of an integration that helps us work with Xero and nails exactly what it is meant to do.
 

Benjamin Simon  

Have run 3 e-commerce businesses that rely on stripe, and we did look at other options but they all required us to provide login access to our Xero which we weren't comfortable doing.

Bankfeeds works as it says it does, and it's a direct API integration which makes me alot more comfortable.
 

Gary Tramer  

Have a read of this post - sums it up well.
https://www.quora.com/Is-there-a-way-to-synchronize-Stripe-with-Xero
 

Michael Jankie  

Dreadful.
We have been emailing and emailing you for months.
No replies to our emails: our stripe transactions aren't being synced.
We managed to get 1 reply that said 'sorry about that, let us investigate,' followed by 6 more weeks of radio silence.
I moved over to bankfeeds.io as they pitch themselves as a better version of Silver Siphon. It's been a pain in the ass.
 

Joseph Edwards  

Good question David. The native Xero and Stripe integration allows you to accept payments for Xero invoices through Stripe, which is great if you raise invoices in Xero and send them to customers.

Imagine you run an e-commerce or high volume subscription business and you accept payments off your website or mobile app and the payments are processed through Stripe. No need to raise an invoice in Xero.

Our app grabs your transactions from Stripe via the Stripe API, imports them into Xero via te Xero API and posts them to whichever accounts you stipulate in the settings.

EG:
Sales > 200 Sales
Refunds > 460 Refunds
Stripe Fees > 404 Bank Fees

Our app can also automatically reconcile these transactions into these accounts.

It saves you having to download a CSV file from Stripe every month and import it into Xero.

What our app will NOT do is allow you to reconcile these transactions against invoices in Xero as that is currently not possible with the Xero API.

I hope that clears things up.

Disclaimer: I am one of the founders of BankFeeds.io
 

Troy Dean  

Doesn't Stripe and Xero have an official direct integration? Why would a company need this app?
 

David Wieseneck