Originally posted by Fred Bloggs
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Reply to: FreeAgent bank feed
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Previously on "FreeAgent bank feed"
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Originally posted by adubya View PostI have it enabled for my Cater Allen business account, couldn't get it to work with the Aldermore company deposit acct.
Anyone got the feed working with Aldermore (savings acct) ?
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I have it enabled for my Cater Allen business account, couldn't get it to work with the Aldermore company deposit acct.
Anyone got the feed working with Aldermore (savings acct) ?
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Originally posted by sal View PostTried setting it up Barclays, had to do some obscure tulip like visiting a branch or whatever major inconvenience to finalise the setup ,so i just dropped it and just manually import the data every 2-3 months usually for the VAT return calculations.
With Barclays, you don't provide your login details, it's a data feed specifically for stuff like this, so it's I was happy with that. All it does is provide the transaction data, nothing more.
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Tried setting it up Barclays, had to do some obscure tulip like visiting a branch or whatever major inconvenience to finalise the setup ,so i just dropped it and just manually import the data every 2-3 months usually for the VAT return calculations.
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Originally posted by SuperLooper View PostI use it with my Santander business account, and it works flawlessly. I can't imagine having to cope without it. Life is too short for manual data entry.
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FWIW, I use Yodlee's MoneyCenter website to aggregate all my bank accounts, pension, credit cards.
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I use it with my Santander business account, and it works flawlessly. I can't imagine having to cope without it. Life is too short for manual data entry.
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I used the bank feed when I had a free trial and it worked fine. But in real life I decided that saving a minute or two each month/week wasn't worth the risk. So I do a manual down > up load a couple of times a month. Works just fine that way since the actual number of transactions is minimal and FA does a pretty good job of identifying the transactions automatically too.
At the end of the day, I do not really know what the actual risk is, but it feels best not to have a link between FA and the bank set up.
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I don't as after reading my bank T&C's there was something about if you've given your information to any third party, you lose some of your rights if you do get hacked or anything in the future (regardless of whether that came from the specific third party you gave them to)
Given how quick and easy it is to report out a statement and upload it to freeagent (~20seconds), I just do that once a week/fortnight instead
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We have two FreeAgent accounts for businesses I'm directly involved in.
- One banks with HSBC. We don't use the direct feed for this one.
- The other banks with Cater Allen. We do use it for this one.
Reason is only that the two factor authentication with HSBC makes it a pain. Same issue as TCP says, but I ended up coming to a different conclusion, that I found download/uploads easier.
I'm not overly concerned re security. I'm happy that if big banks use it themselves and so do thousands of average Joes like me across the country (if not world), the bank can't really criticise me too much for doing so if things go wrong.
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Yes, though I have always had my concerns about it.
Its not automated if you have 2FA as many banks do though. I still have to sit there, click a button and enter my TOTP code, but its less hassle than manually downloading statements.
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Definitely worth checking your T's & C's though - many banks will transfer liability for any losses/fraud to you if you have shared your login details with third party services.
Many banks put a stop to third party access like this by bringing in two factor authentication.
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I thought about it long and hard. I just don't feel comfortable giving bank credentials to anyone else.
I work in InfoSec which probably doesn't help although I have no knowledge/evidence of there being security issues.
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Originally posted by northernladuk View PostYep. Use it with my Santander accoubt. Works perfectly and I've no worries about it.
It uses Yodlee which Sage and other groups use so if you are worried do your own research on them.
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