HSBC, Open Bank Feed and Yodlee

Bank Feeds
1

Dear all
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?
Many thanks,
Solar

2

Hi @solarpower03

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.

3

Hi Mathew
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?
Many thanks
Solar

4

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!

5

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.
Many thanks
Solar

6

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.

1 Like
7

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?

8

Open Banking will refresh overnight automatically. But you’re welcome to run a manual refresh at any time if you wish.

Hope this helps!

1 Like
9

Thanks Mathew and Ian. Have a wonderful Sunday!

1 Like
10

For open banking feed, do I need to buy the bank feed subscription? I thought the subscription fee was for Yodlee.

11

The subscription covers both Open Banking and Yodlee, as well as the direct feeds (e.g. Starling and Tide).

12

Thanks Mathew- bought then.

1 Like
13

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