Some of Xero’s bank feed connections will change to comply with the new requirements. Xero’s existing bank feeds with Barclays, as well as all UK and EU bank feeds set up using Yodlee, will no longer be available. Many of these will be replaced with new direct bank feeds using Open Banking.
If you are currently using these feeds you will need to change to new direct bank feeds where available. This will ensure transactions can continue to flow into Xero each day.
Xero, however, has partnered with OpenWrks to help bring you new direct feeds that are secure and easy to set up for free.
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 meantime, those businesses will need to manually import transactions into Xero or wait until a feed is available and backdate transactions.
So how can you get ready?
The new feeds will be made available in stages, beginning in August. Xero will notify all affected customers within the Xero dashboard and will email those that subscribe to Xero directly as well.
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