In the coming weeks, existing Xero bank feeds with Barclays, and all bank feeds set up using Yodlee, will no longer be available due to industry-wide standards soon to take effect.
If you are currently using these feeds, you’ll need to change to new direct bank feeds where available. This will ensure transactions can continue to flow into Xero each day.
The good news is, Xero has partnered with OpenWrks to bring you new direct feeds that are secure, easy to set up from inside Xero, and free of charge.
The new feeds will be available in stages for most UK banks and account types beginning in August. However, some customers won’t have a feed to connect to as some banks will be making feeds available at a later date.
In the interim, those businesses will need to manually import transactions into Xero or wait until a feed is available and backdate transactions.
See Xero’s up to date list of bank feeds that will be impacted HERE
Xero willl notify all affected customers within the Xero dashboard, and will email those that subscribe to Xero directly as well.
Going forward, if you’re setting up completely new bank feeds in Xero, you will need to connect to an available direct feed using Open Banking.
If you set up a Barclays or Yodlee feed before the new direct feeds are available, you’ll still need to change to a new feed that uses Open Banking from August. Instead, we recommend you manually import transactions until the new feeds become available.
Click HERE to see Xero’s Open Banking resource centre where you can find information and resources to support your business.