XERO Bank Feeds

[Snarf]

In case anyone is interested I ended up writing a little console app that converts the TSB CSV file to the format that Zero want.

Still have to do the export from tsb manually and then the import into XERO but Im happy to do that at month end when Im doing all of the other bits and pieces anyway, I get one or two payments in a month and maybe 5 out so its not like I need a constant feed of data.

Thanks all for the advice.

[darrylmg]

Thanks all.

Im not 100% sure that I'm happy giving them the keys to my account as it were, Going to speak to TSB to see if we can set up another user for online banking as I know they offer facilities that certain accounts can be blocked from making payments without another users approval.

Im more concerned about a breach of data at yodlee than yodlee themselves having access...

Sounds like most of you have looked into this an accepted the risk so Im probably going to do the same.

Just to add to what the others have said, I use Xero with HSBC through yodlee.
Whilst you give yodlee certain details, I still have to put my HSBC fob code into Xero when I refresh the feed.
So yodlee hackers would have to capture that and use it. If yodlee got hacked then the perps would need to sit and wait for me to do my feed refresh (about once a month, if that).
I feel it's a medium to low risk but saves me from hours of accounting tasks.

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[Snarf]

Thanks all.

Im not 100% sure that I'm happy giving them the keys to my account as it were, Going to speak to TSB to see if we can set up another user for online banking as I know they offer facilities that certain accounts can be blocked from making payments without another users approval.

Im more concerned about a breach of data at yodlee than yodlee themselves having access...

Sounds like most of you have looked into this an accepted the risk so Im probably going to do the same.

[ladymuck]

That's interesing. Sage One uses the Open Banking API for those banks that offer it and Yodlee for accounts/banks not covered.

[Maslins]

No issues here using Xero with HSBC.

I believe Xero have a direct feed with HSBC. Ie something specifically agreed between the bank & software that doesn't rely on Yodlee screen scraping. FreeAgent have the same with Barclays and RBS/Natwest (I think).

Yodlee get discussed reasonably often, and it's always the same concerns. Yes, it seems you are breaching your bank's Ts&Cs if you use a service like Yodlee. However, loads of people (and indeed organisations, some of them very large) do. Whether that comforts you or not is down to the individual.

You're right that CSV transaction downloads are a pain, as typically they require some manual manipulation of the data to enable it to be imported nicely.

[SeededLoaf]

No issues here using Xero with HSBC. One thing i've noticed though there is a time delay in the live balance vs a statement download before a certain time in the morning which seems to be about 8am.

Not all banks seem to accept Yodlee feeds like Aldermore. I think the personal accounts do but not business.

[Dom at Fox Bartfield]

Xero

We use Xero for the accounts within the practice with the Yodlee bank feeds, works well. Has the occasional blip but not very often, mainly when carrying out maintenance.

We've never had any issues with clients using the feeds through Freeagent as well, although manual uploads are available provided the CSV is in the format required.

[northernladuk]

I have no problems with Yodlee dealing with my imports to Freeagent. I guess it can never be risk free but there are so many individuals and financial organisations I'm small fry.

May be a bit of a lax approach to a company that holds the key to my bank account but I'm comfortable with it.

[Snarf]

FFS - You can do a manual import but they dont make it easy.

TSB gives me a CSV with a debit and a credit column, both of which contain decimals... XERO says that isnt a valid format for the Transaction amount.

So I it looks like I might be stuck with the Yodlee feeds or nothing because I cant import the statements as they are.

Ok - so I need some manual fettling to get the data in a format that they like first... Looks like Im writing some scripts next week to automate this for me.

[Snarf]

Evening all.

Im in the process of setting up XERO, specifically the bank feeds.

It looks like Xero use the third party service "Yodlee" to do the bank feeds from TSB and the site is asking me for mt user name, password and memorable information - Which I am loathed to hand out.

Just looking for advice/opinions from others who may have been in the same boat? Anyone had any issues?

Can I trust Yodlee? If not what are my other options? Im happy to do a manual import every month if thats possible (Im going to go and look at that now...)