I had Yodlee as part of QF subscription but practically I used the extension to export feed from HSBC account to QF. As the extension has been deprecated, I tried to use Open Feed. Linked successfully but I do not see ‘Activate Bank Feed’. Instead, I see ‘Refresh Bank Feed’. Is ‘Refresh Bank Feed’ an option due to Activate Yodlee or Activated Open Bank?
If you see a refresh option, it means there’s already an active bank feed there.
You should also see “Bank feed details” which will tell you how it’s connected and what to.
Thank you. Since I have Yodlee in the package, it shows Yodlee tab in the Bank Feed details. I thought Open Banking was supposed to replace Yodlee? If I had Yodlee to import things, then what is the point of adding Open Banking connection?
You can use Open Banking if you prefer. The difference with Open Banking is it gives a direct link with the bank rather than going through Yodlee. However, at present Open Banking only supports current accounts.
It’s also worth noting that if you use a 2 factor code (e.g. HSBC requires this) then Yodlee can only be manually refreshed. Open Banking on the other hand doesn’t require this as it’s a direct link.
Hope that helps!
Thanks, Matthew. I have a current business account with HSBC. How can I disable Yodlee and use Open banking? Of course I use 2 factorcode of HSBC and would prefer avoiding manually updating thru Yodlee.
If you delete the current (Yodlee) feed from that bank account in QuickFile then activate bank feed again you should get the option of open banking.
Thanks Ian. It worked! How does one use this? I assume I just need to click ‘Refresh bank feed’ periodically and it will automatically import the new transactions while avoiding duplicates? Or does it automatically imports everyday?
Open Banking will refresh overnight automatically. But you’re welcome to run a manual refresh at any time if you wish.
Hope this helps!
Thanks Mathew and Ian. Have a wonderful Sunday!
For open banking feed, do I need to buy the bank feed subscription? I thought the subscription fee was for Yodlee.
The subscription covers both Open Banking and Yodlee, as well as the direct feeds (e.g. Starling and Tide).
Thanks Mathew- bought then.
This topic was automatically closed after 5 days. New replies are no longer allowed.