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Did you see our new features released today? Bank feeds for Xero Personal!

Started by Jules Desmond (Community Manager) -   in Using Xero Personal

Did you see our new features released today?
Bank feeds for Xero Personal!
This has been by far the most requested feature, since Xero Personal was launched.
It’s been nearly 18 months in the making but we’re pleased to announce that the first Yodlee Bank feeds for Xero Personal are now available!
Blog: Bank feeds for Xero Personal (includes video)
Xero Personal Help Centre: Set up Yodlee bank feeds

Here are the banks (and supported account types), included in this first release. There will be more following, early next year:
NZ
ASB Bank (including Credit Cards)
Westpac (NZ) (including Credit Cards)
ANZ (NZ) (including Credit Cards)

Australia
National Australia bank (including Credit Cards)
ANZ (AU) (including Credit Cards)
Westpac (AU) (including Credit Cards)
Commonwealth Bank CBA (including Credit Cards)
Bank of Queensland (including Credit Cards)
Suncorp (AU) - Everyday Banking

UK
Natwest Bank
HSBC - Personal Banking
The Co-operative Bank (UK) - Personal Banking
Halifax Online (UK)
Barclays (UK)

US + Global
All banks/accounts supported by Yodlee.

Thanks to our Community for your patience (and impatience!) and passionate feedback.
As always – let us know what you think!
yay!
 

Alastair Coats  

Well done.... but I was hoping to see Kiwibank on this list...
 

Zabe Orchard  

Hey guys,
Xero doesn't automatically recognise a 'orbit' home loan for ASB bank. It sets it to Other. If we change this to cheque is there likely to be any issues??
 

Alastair Coats  

Thanks for the Christmas prezzie Xero. We will finally be able to ensure all our clients are spending less time on doing and more time on reviewing their budgets.

Any tips and traps before we set our clients up with their available banks?

Thanks again!
 

Wealth Elements  

Tried to connect my BNZ global plus credit card. Release notes said I had to log onto BNZ website and use money map. I had or register for this ( will cost $5/month) in 3 months time. I don't need the money map facility as I have Xero Personal. However, I registered but then it wouldn't allow me to connect my global plus card because I already have a bank feed to Xero business! All about cumbersome and unsatisfactory really, especially with another monthly fee! BNZ Money Map is proudly powered by Xero as well! Hopefully there will be a fix soon so that it is possible to connect bank feeds from BNZ without having to pay extra fees
 

Murray Wiggins  

This is one of the most horrible examples of the password anti-pattern I've ever seen.
 

Simon Elvery  

I can't seem to add ASB bank feeds to Xero Personal - I'm using the "Money Map" version though BNZ, would this prevent me from adding other banks' feeds?? If so, how can I convert from MoneyMap to a normal Xero Personal?
 

David Carr  

Thanks, this is great news. However, in stepping through the setup I came to a screen requesting my bank customer registration number and password. I have only ever used this info to access my bank accounts online. Further the bank specifically advises (requires) me not to give passwords to anyone.
I have setup auto feeds on my business accounts, but this does not require access directly to the account, nor requires login details. Rather permission is given to the bank to supply a data feed only.
So it appears a user is breaking agreement with their bank if they provide Xero with online bank access login details?
 

Michael Elwood-Smith  

No CUA? Disappointing - will check in again in the new year, but ANZ money manager gets better all the time too.
 

Rob Kearey  

Its currently not working for me with Westpac. I hope its as good as i think it will be!
 

David Livesey  

Can you provide some information on how "Yodlee Bank Feeds" are different to bank feeds directly from my bank ? Is this different to the way Xero Business get's bank feeds ?
 

Aaron Morton  

Thanks guys! Just set them up.. will be fun playing around with the new features!
 

Larissa McKay  

This is awesome! Thanks Xero team!! Will save a ton of time and like the fact can add notes now too.
 

Sara Young  

I am not winning with adding feeds to my Westpac accounts. It's asking for activation of Online Guardian - which I already have activated. Help! I am busting to use this new development, so happy it has arrived!
 

Kelly Whittle  

@Aaron Morton Where direct feeds aren’t possible, Yodlee is used in the business version of Xero as well.
There’s more information about this on our blog, here:
Xero and Yodlee
And here:
Six years of bank feeds

There is a cost associated with direct bank feeds. This, along with the manual processing required to set direct feeds up between a bank and Xero, means it’s just not feasible for us to have direct bank feeds for Xero Personal – though we continue to talk actively with financial institutions about alternatives. If you'd like to see a direct feed from your bank, please let them know.
While Yodlee is a third party service, it is widely used by many financial products, including some offered by financial institutions.
 

Jules Desmond (Community Manager)  

That perfectly understandable. But if you charged extra to have a direct bank feed for personal I would pay it.

Giving out my bank password is a violation of the terms and conditions with ANZ bank.

"
To help protect your password and PIN you must do the following things:
...
Don't tell others your password or PIN, including family members or anyone who appears to be in a position of authority, including our staff or the police
"

Doing so may mean they longer reimburse me for:

"
Any forged, faulty, expired or cancelled part of an electronic banking service
An unauthorised transaction where it is clear you have not contributed to the loss.
"
http://apps.anz.co.nz/terms-and-conditions/electronic-banking-conditions-of-use.aspx#a4

My understanding of that is if my bank account is hacked, even if it is not Yodlee's fault, giving out my password to them may mean I have violated the T+C and will have to accept the loss.

I feel you should provide a warning to people that disclosing their bank password may violate the terms of service with their bank that may result in a loss of fraud protection.
 

Aaron Morton  

@DavidCarr - got the same issue as you. on BNZ moneymap as have a global plus credit card, but all the rest of my banking with ASB, Seemed like the thing to do cos got feeds on the credit card .... but now I'm trying to set it up for ASB, and just not being given the option. Did you get it resolved? @Jules - you got any words of sagely advice? Can I convert my money map to a regular xero personal?
 

Andrew Palmer  

No such luck - hoping to hear an update from the Xero guys before too long.
 

David Carr  

Great - so I wait months for personal banking feeds and you go through a US company.

I specifically chose Xero to look after my NZ finances because it was an NZ company. I have no interest in having my personal bank details being passed through a 3rd company, let alone a US company. What a disappointment.

I don't care about the difficultly with the business deals. Xero has had direct bank feed deals with ANZ since it's early days and I was expecting the long promised feeds for Xero personal to operate in much the same way for your homeland customers.

Now that this long promised feature is out and and such a disappointment, i'll be thinking long and hard about continuing to pay for this service, as there's little separating Xero from any other service of software i could use.
 

Cameron Smith  

Fantastic! Thanks so much, team Xero! I've been waiting for these two features (especially Notes) and can finally transition all my personal accounting data into Xero!

You guys rock ;-)
 

Jonathan Smit  

Merged: barclays UK account link up doesn't work

OK, I'm trying to link my XP account to my Barclays UK account.

Aside from NOT liking entering the info (and the banking T+C's it invalidates), it plainly doesn't work.

I enter my surname, sortcode + account number, banking pin and memorable work (did I mention this makes me REALLY uncomfortable?), it says:

"Please enter one of Membership number, Card number or Sort code and Account number"

Which... I did.

If I put in my card number it works fine. However, thats the _most_ insecure number out of the three. Sort code + account would be much preferable.

Fix please?

Thanks
 

Nic and Leonie Wise  

I'm with Aaron on this. Although this is an exciting development my understanding is that Yodlee bank feeds from HSBC UK are not approved by HSBC and handing over your login credentials to a third party is a breach of their terms and conditions http://www.hsbc.co.uk/1/PA_esf-ca-app-content/content/pws/content/personal/pdfs/pib-final-version.pdf, The consequences of doing this can be severe "8.2. You will be responsible for all losses if you intentionally or with gross negligence fail to use PIB in accordance with the Terms (including keeping your PIN and security details safe and notifying us as required in accordance with clause 3.3)".

So, sadly, I will be not be able to use this new service and anyone considering using these bank feeds should carefully check their bank T&Cs.

I would happily pay for an *approved* direct bank feed in the style of Xero Business.
 

David Brenan  

Very nice release! Makes my renewal very worth while.

 

Stephen Kervin  

(Merged - In reply to: barclays UK account link up doesn't work)
Also interested to know more about the security measures relating to this process of connecting to bank accounts that exist outside of my Xero world. Importing a .qif or .csv file is completely under my control and relies on me managing my own access across systems, so I'm comfortable with that.

Though I like the idea of automatically pulling in my data to save me work, like Nic and Leonie I do feel *VERY* uneasy about entering my account access information into a 3rd party (your) website. Their point about my relationship changing with my bank because of invalidating T+C's is a concern. Do the banks sanction this data transfer and are you able to provide any feedback from the various banks,? And of course Yodlee is another party in the data access process so legally how does all this fit together?

Have you published anything about this issue as I'm sure it's been a concern raised by your business customers?
 

Dave Ginnane  

Is Xero able to give an indication if bank feeds support for BankDirect will (ever) happen? I'm trying to decide whether to wait longer or give up and move all my personal accounts to somewhere else that supports Xero Personal & Business bank feeds.
 

Phill Coxon (WSE)  

Do I have to manually refresh the feeds every time or will they periodically update themselves?

The reason I ask is because I've never used the notifications feature - I figured it's pointless as I have remember to manually update before the notification is due to come out, and while I'm doing that I may as well just check the notification anyway, and it's done.

With this I was hoping the feeds would update once a day, which would actually make the notifications feature worth it.

I configured yesterday morning, feed hadn't updated when I logged in this morning until I manually did it myself. Is this normal behavior?
 

James Graham  

Hi there,

I'm finding that the feeds for my NAB (Aus) cheque and savings accounts won't update. Fine on the credit cards (and interestingly fine for my NAB Business accounts), but try as I might I have two that simply won't refresh.

Keen to sign up for a full account, but I'd like to get this working first.
 

Stewart Bell  

Thanks @Aaron Yodlee bank feeds are an opt-in feature, so it’s up to the user whether they want to use this or not.
As mentioned, we’d like to provide more direct bank feeds for Xero Personal. Charging extra on top of the annual subscription rate for feeds isn’t really something we’ve considered. I'll pass that feedback on to the team.
While terms and conditions vary from bank to bank, the ANZ example is an interesting one, as their own Money Manager product also uses Yodlee for data aggregation. In fact, over 42 of the top 50 US financial institutions use Yodlee in their own financial management products.
 

Jules Desmond (Community Manager)  

@JPG @Stewart Bell if account authentication was required, when you set up the feed, you will need to manually refresh. There's more information about this, here:
Xero Personal Help Centre – Refresh your bank feed
If you'e still having problems, please contact bankfeedhelp@xero.com.
Thanks.
 

Jules Desmond (Community Manager)  

@C Smith Although Xero was founded in New Zealand and we have our main headquarters based in Wellington, we’re a Global company supporting users all around the world. While we are very open to having direct relationships with banks and we are actively having these conversations, the only way to launch bank feeds that services a Global user base right away is to use a third party service.
Yodlee have been providing aggregation services for over 12 years and are used by hundreds of reputable banks and financial institutions.
Sorry if you were under the impression that you would have a direct bank feed with your bank but we have been clear that we would be using Yodlee. As above, bank feeds are an optional feature for Xero Personal, so if users have any concerns, they can choose to import their data manually. Thanks.
 

Jules Desmond (Community Manager)  

Thanks Jules. I've refreshed numerous times and either get 1 of 2 messages:
1. Connection issue - in which case clicking the details button simply gives me the option of refreshing again or emailing helpdesk.
2. Updated, however there has been no change to the account and the latest transactions are not visible.

Cheers
 

Stewart Bell  

@Alistair Coats Yodlee bank feeds are for transactional accounts only - loans/mortgages/lines of credit etc are not supported (this is the same in Xero Business as well).

For users with supported banks/accounts that are still having problems connecting feeds, please contact bankfeedhelp@xero.com
Thanks.
 

Jules Desmond (Community Manager)  

Thanks @Jules.

Is there EVER going to be a way to make the bank feeds automatically update? Unlike what some people on here appear to be after, I just want the best user experience possible, I don't care about how you deliver it (ie, using Yodlee). Can I give some extra permission or sign some additional waiver to move the risk onto me?!
 

James Graham  

Awesome work guys! Pleeeeze may we have BankDirect (New Zealand) feeds.
 

James Crossley  

Thanks Jules.. Annoying and incomplete, but good to know.
Keep up the good work :)
 

Alastair Coats  

I am also having a problem activating Westpac NZ feeds - it's prompting me to activate Online Guardian even though I've already done this. Any advice? Thanks
 

Megan Drayton  

@Megan Drayton: I figured a way around it today...instead of going through the green link on the dashboard, go into each account, press 'edit account' and you can activate the bank feeds through there. There was no mention of the Online Guardian when I did it this way.
 

Kelly Whittle  

@Stewart Bell: I got the same problem, with ASB Bank New Zealand. The transaction and the balance are not updated, even though I got an email saying the bank feed is refreshed.

Please help...
 

Vincent Zhong  

On "manual refresh" - I was quite excited about bank feeds finally arriving until I discovered a manual refresh is required. Sorry, but what is the point of bank feeds? If I go into Xero I want the transactions there and not have to wait for a refresh. And with the refresh itself, I have 3 accounts and 2 of them take about 3-5 minutes each to refresh... (and fail most of the time) I can log into my internet banking, export transactions for ALL my accounts and then import faster than this one refresh takes. I think I'll go back to using my automated bank transactions export script and manually import transactions into Xero again... unless I can get around to finishing the script that imports them too :P Sorry guys - this is a half-ar*ed solution.
 

Shane Garelja  

^-- this. Currently it's of no added benefit to me, especially because the feeds are coming in differently than when I would manually do it, so I have to recode everything.
 

James Graham  

I would also support paying extra for secure direct bank feeds.
 

Tamer Sabet  

I support the grizzles above. Being a Xero for Business user and being used to true automatic bank feeds, I find the Xero personal version a big let down. (a) it doesn't automatically update each day (manual refresh is required, (b) it takes ages to refresh (time for a cup of tea - takes me back to tape drive days, and (c) when it does refresh it appears to be not up to date anyway. e.g. this morning I refreshed my cheque account (Westpac) and it updated transactions to the 10 November, whereas I log into the bank there are transactions there to the 12th (yesterday). I would also willingly pay extra for a true automatic feed from the bank but I won't be using this system. It is easier and quicker to download from the bank directly.
 

Jim Cooke  

More AU and UK bank feeds available today.
We'll be releasing more New Zealand banks in the coming weeks and months but today's release are just bank feeds that have a proven track record with our business product and/or have tested to our satisfaction. Thanks.

 

Jules Desmond (Community Manager)  

We’re starting to get some repeated questions here, from users either having issues or wanting to know the availability of feeds for their banks.
To save repeating answers and making this thread longer than it needs to be, I’ve started another discussion here, with some details that may help:
Bank Feeds: Common Issues and questions
Understandably, we’re getting a lot of requests like “when will my bank be supported?” or “when will feeds for my bank be available?”. We’ll be rolling out more banks early in the new year but don’t have a definite answer on availability of feeds, or time frames for specific banks at this stage. Thanks.
 

Jules Desmond (Community Manager)  

@Shane Garelija & JPG Sorry you’re not finding bank feeds any more convenient than manual importing. Unfortunately for banks using token-based MFA (multi-factor authentication), it’s just not possible to avoid this step.
@JPG regarding re-coding – can you give an example of a difference in transaction between a manual import and a bank feed import? Would editing your sorting rules fix this problem? Thanks
 

Jules Desmond (Community Manager)  

I've set up bank feeds, but when I refresh (and I've tried many, many times) it does not work. The usual msg is something like this:

There was a problem refreshing the feed for ANZ Serious Saver
25 Dec 2012 at 12:27 AM
There was a problem refreshing the feed for ANZ Serious Saver. Please try again.

What can fix this?
 

Daniel Wong  

@Daniel, is this still happening for you? If so, please contact bankfeedhelp(at)xero(dot)com. Thanks.
 

Jules Desmond (Community Manager)  

Yes it is still happening. And when on the rare occasion it does refresh, it does not seem particularly up-to-date.
 

Daniel Wong  

It has got to the stage where it is a waste of time trying to refresh - I'd be better off manually importing (which I do for non-bank feed supported accounts), which is much much quicker.
 

Daniel Wong  

@Jules - Every transaction that is coming in now is being prefixed by my eftpos card's suffix, so previously a transaction might be "BP 2GO GREYMOUTH GREYMOUTH" now it's coming through as "CARD 9605BP 2GO GREYMOUTHGREYMOUTH" - Because there's no space between the card prefix and the it's not automatically being picked up from what I can tell?

The issue is exasperated because it's a shared account with multiple eftpos cards so the sorting rules are being doubled, sometimes tripled.
 

James Graham  

Merged: Bank Feeds

Hi, Ive just deactivated bank feeds from ANZ on personal XERO (and changed my password), because of concerns about giving Yodlee my Bank login details.
Is it possible to set up bank feeds from ANZ cheque and credit cards to Xero personal without using Yodlee as a third party?
 

Sallie Hudson  

Hi

I'm giving up on bank feeds. I was really keen but like everybody says, it takes so long to refresh that you could manually import the transactions quicker.
But the real issue here is that it's randomly missing transactions so you can't trust it at all. At then you'll have to manually import the missing transaction... complete waste of time
 

jean-luc azzis  

@JPG Sorry for the delayed response here.
If you're comfortable, I could get someone to contact you directly and take a closer look at this for you, to see if anything can be done?
@Sallie No, it's not currently possible to have direct feeds from ANZ into Xero Personal.
@Daniel & jean-luc We're sorry to hear you're having bad experiences with bank feeds. While some banks have proven to be problematic for Yodlee feeds, many do work without a hitch - it depends on how the bank handles the data.
Feeds import transactions into Xero Personal, as soon as the bank makes them available.
So, while a transaction might appear in internet banking, it may not have been cleared and allocated a unique ID by the bank, yet. Once the bank posts the ID, Yodlee will import it into Xero Personal. This can sometimes take 3-4 days though, depending on the bank.
We have seen this issue with CBA, NAB and Westpac so far - but there will definitely be other banks affected in a similar way. We do pass this information on to Yodlee but unfortunately, it is an issue from the bank’s end, as we have no control over how they handle their data, or when they clear transactions. Thanks.
 

Jules Desmond (Community Manager)  

@Jules - Yep, contact away.
 

James Graham  

Hi Jules

the problem happens on my ANZ bank account and it's not just a delay. It's actually skipping transactions. I have the transactions for the 11 and the 18 of december but the 14 dec transactions do not appear. That's a problem! It makes it unusable
 

jean-luc azzis  

Hi Jules

I tried linking to a UK Co-op account I have in GBP. After entering everything correctly I could see the GBP balance greyed out and above it I had the message:

"Oh dear.... There are no NZD feeds at The Co-operative Bank (UK) - Personal Banking."

Is it not possible to have feeds for non NZD bank accounts in my NZ Xero Personal? Or is this a problem specific to the Co-OP bank.

BTW when kiwibank coming on board

Thanks
 

Jonathan King  

Hi Jonathan.
Xero Personal doesn't currently support multiple currencies.
Yodlee feeds for KiwiBank are now available. Thanks.
 

Jules Desmond (Community Manager)  

When you say KiwiBank is available, is that all Kiwibank accounts, including Notice Saver?

thanks
 

Daniel Wong  

@Daniel Sorry, just 'Everyday Banking' accounts at this stage.
 

Jules Desmond (Community Manager)  

How fare off having Bankwest (AU) feeds is it?
 

Le Creme Accounts  

Hi @Le Creme Accounts. Feeds for BankWest AU are available now.
There's some information about setting up Yodlee feeds in Xero Personal here:
Set up Yodlee bank feeds
 

Jules Desmond (Community Manager)  

Hi There,

I use Nedbank - Current account works fine Credit Card still does not work with bank feeds, is there an estimated ETA for this - or anywhere I can follow to see when support will be added?

Thanks,
David
 

David Jacobson  

Hi Jules the bug with ASB Orbit account hasn't been fixed. It's still not possible to set up a feed with the Orbit revolving account.
 

Kenneth Leong  

Hi @David. Nedbank (ZA) feeds are now are available now.
The best way to see if feeds are available for your bank, is to try adding bank feeds.
Add an account and check if bank feeds are available
All of the bank feeds available via Yodlee feeds are now accessible from Xero Personal. While we do pass on feedback from our users who are wanting feeds for their bank, Yodlee have their own prioritization process, from their own user-base.
I would suggest users who don’t have feeds available for their banks, start a feature request (if one doesn't already exist) for this. This way, we can easily monitor demand and pass this on to Yodlee accordingly - and it also gives us a place to update, if there are any developments.
As mentioned though, it’s not in our control if and when these feeds will be built - all we can do is let Yodlee know we have users who would use them. Thanks

@Ken This isn’t actually a bug. As mentioned above (and also discussed here), Xero does not currently support loan/mortgage account types.
This may change in the future but currently only transactional accounts are supported.
Thanks.
 

Jules Desmond (Community Manager)  

how do i unsubscribe from this thread?
 

Le Creme Accounts  

@Le Creme Accounts When you are logged in, you will see a link at the bottom of the initial post that says 'Cancel email updates'. Thanks.
 

Jules Desmond (Community Manager)  

I've tried several times to get Halifax (UK) and Virgin Credit Card (UK) and neither are working for me, I'd love to use this product and Yodlee is a huge incentive... but only if it works...!
 

William Vicary  

Nevermind appears to be working fine now, ignore my last comment!
 

William Vicary  

I'm looking/hoping to have Steinbach Credit Union added (Canada) (www.scu.mb.ca). Is this the right place to request this or where should I post?
 

Astrida Hoeppner  

Hi @Asrida. As above, the best thing to do would be to start a Feature request topic for this, so we can monitor the demand and forward this information onto Yodlee. However, Yodlee decides if/when bank feeds are built, based on their own prioritization process and user base. Thanks.
 

Jules Desmond (Community Manager)  

Hi there - It's great that Westpac NZ accounts are available now. The bank feed picks up all my accounts (checking, savings, term deposit) but not my loan/mortgage accounts. Westpac calls them Choices Every Day accounts. Is there anyway I can use bankfeed for this account?
 

Jorg Weber  

Any chance of TSB (from Lloyds TSB in the Uk)?
 

Dion McCall  

@Dion Feeds for Lloyds TSB are available.
Please see the above reply, for details on how to search for available feeds and connect. Thanks.
 

Jules Desmond (Community Manager)  

It's a shame that the banks don't provide an alternative logon that only works with services like Yodlee and can only download transactions and not do anything else. I gave it mine but it certainly has me worried about how Yodlee stores and encrypts the details...
 

Mark Penney