What does Automated Bank Feeds mean and what am I paying for ?
rhc
11 January 2020 10:44
2
Hi SmartSecurity ,
Basically it downloads your bank account transaction from your current account, Savings and/or Credit Card Account to quickfile. So, you don’t need to write the transaction manually. Have a look here:
What is Open Banking?
In essence, Open Banking is about allowing access to specific financial information in a secure and convenient manner.
In August 2016, the UK Competition and Markets Authority (CMA) issued a ruling that required the nine largest UK banks to allow regulated third parties direct access to their data, down to the level of bank account transactions (we blogged about this here ). Despite all the recent scaremongering it’s important to remember that this is an “opt-in” arrangeme…
For some banks you can use open banking (the new standard and more secure) for others you use the yodlee feed. For bank which a covered with open banking look here:
To get a list of all the latest Open Banking feeds and features please follow the link below:
Open Banking Providers
For more info about yodlee have a look here:
Please Note: With the introduction of Strong Customer Authentication (SCA) from March 2020 we recommend that you switch to an Open Banking compatible bank feed. We’re are working to support all major UK banks and account types as they are made available.
Find our more about Open Banking
QuickFile and Yodlee enable you to automate the process of importing your bank transactions. Once setup your transactions can be automatically imported overnight or by performing a manual refresh.
Which ban…
I hope it helps
system
Closed
18 January 2020 10:15
3
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