Xero continually invest in improvements and additions to their software to benefit us, and you – our clients.
Previously when it came to authenticating our clients’ bank feeds, we would need to re-authenticate every 90 days. Now, the new, improved process means all we need to do is re-confirm the consent within Xero.
To do this, we simply need to click the ‘renew connection’ button, avoiding the need to have to login to bank accounts and re-authenticate bank feeds every 90 days. With our clients’ permission, we can now re-confirm consent on their behalf. Simples!
If authorised to do so, then anyone with a ‘Standard’ or ‘Adviser’ user role who has access to your Xero account will be able to re-confirm consent. You are however able to stop your bank feed at any time within the Xero app without having to login to your online banking system.
Should your connection not be successfully re-confirmed after 90 days then no additional transactions will be fed from your bank into Xero from the date consent expires. If you add a new bank feed for a UK bank, which is live within the new process, it will need to be re-authenticated for the first time and then re-confirmed every 90 days thereafter.
This service is available with most banks, with just a few yet to announce their implementation dates. If you require clarification about your business’s bank, just contact a member of our team or visit https://central.xero.com/s/article/Bank-feeds-available-in-Xero
As always, we’re here to help guide you through this new process and are available to answer any questions. Xero also provides expert help via their support hub – simply visit https://central.xero.com/s/ to find out more.