Introducing Yodlee Bank Feeds

Blog
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Please note: Yodlee feeds are no longer available as of 14th March 2020 and have been replaced by Open Banking feeds.

For a complete list of supported banks, account types and features, please check out our Open Banking page

Introducing Yodlee Bank Feeds!

Bank Feeds allow you to automatically import bank statement information from your bank into QuickFile without needing to download and upload files. We have now teamed up with Yodlee to deliver 100s of new automated bank feeds.

Bank feeds are a huge time-saver when it comes to managing your accounts, they make account reconciliation a breeze and give you a near real-time picture of your cashflow. We hope you find this feature useful and look forward to hearing your thoughts.

Getting Started

With Yodlee you can now set up an automatic bank feed with many UK banking providers, including Lloyds, Natwest, Santander, Co-Operative bank, HSBC and RBS. To get started simply navigate to your bank statement view in QuickFile, click the ā€˜More Optionsā€™ menu followed by ā€˜Active Bank Feedā€™.

To setup a Yodlee Feed you will first be prompted to purchase an add-on subscription with Yodlee (Ā£15 + vat per year). Once confirmed you can then connect your feed from the ā€˜More Optionsā€™ menu in your QuickFile statement view.

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When connecting your feed you just need to select your banking provider and securely input your authentication details. Once the feed is connected your QuickFile bank statement will be automatically updated every 24 hours*. You can also run a manual refresh and check feed statistics in the ā€˜More Optionsā€™ menu in your statement view.

Bank feeds are a huge time-saver when it comes to managing your accounts, they make account reconciliation a breeze and give you a near real-time picture of your cashflow. We hope you find this feature useful and look forward to hearing your thoughts.

Supported Banks

You can find a list of supported banks, [here](https://community.quickfile.co.uk/t/yodlee-supported-bank-feeds/15199)

More Information

For more information, please see our [knowledge base article](https://community.quickfile.co.uk/t/yodlee-bank-feeds/14526).

* Please note that some accounts require 2-factor authentication. In such cases an automatic refresh will not be possible, however you will still be able to manually refresh your feed.

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Hi,

I purchsed the subscription but Yodle Bank Feeds couldnā€™t recognise all bank accounts in HSBC, we have 3 and only the first one is recognised so can be be linked to QF
Please advise.

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Hi @Maria

Iā€™ll send you a private message to discuss this further. Please look for the green notification in the top right corner

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Hi,

So as an accountant using Affinity for multiple clients, what the best way of handling this. Very few of them upload their own statements at the moment, most send me the CSVs and I do it. Do I need to get each of them to take out their own Yodlee subscription? In which case Iā€™ll need to make them a guideline on how to log into QF and do this - or is there a way that I can do it for each (assuming of course that they want to pay) and then just on-bill the cost to them?

At the moment they donā€™t use the bank feeds as most donā€™t even log into QF, all they do is email stuff to the receipt hub!

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At the moment yes, each user would need to acquire an individual subscription from within their account.

In the coming weeks we are looking at ways this could possible be integrated into the Affinity billing system but it required a little more time to get right.

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So they would need to do that themselves in order to enter their online banking details etc at the same time?

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Activation is done in 2 partsā€¦

First a subscription is acquired, then the end user (account owner) would go into the bank statement section and activate the feed by plugging in their authentication credentials.

In regards to the first part weā€™d also like to allow the Affinity account holder to acquire the subscription. In terms of inputting the authentication credentials, this would normally always be done by the account holder.

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Would it be the person with admin privileges to do the authentication stage, or any team member?

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It can be any team member.

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Cool, thank you Glenn

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I have more than one bank account - does one Yodle subscription cover multiple accounts? Also I am nervous about storing my bank account credentials in a third party system - is it possible to opt to not have credentials stored and only do manual refreshes where I provide the credentials each time?

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Can anyone help with setting up the Yodlee? Iā€™ve bought the subscription selected my bank (RBS) but itā€™s asking for a USER ID. I only have a customer number PIN and password. Anyone any ideas?

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Have you tried using the customer number as your user ID?

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Iā€™ve tried that, as well as my QF account number. Only moved over as QF download not available when logged into RBS site!! Annoying as used QF and bank feeds (Chrome) for 4 years now!

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Yes. One Yodlee subscription covers the QuickFile account rather than individual banks. So you could even have one subscription for HSBC, Barclays, NatWest, and more.

Yodlee does have strong security. We have a knowledge base article dedicated to this here

Unfortunately, this isnā€™t possible. You may however wish to look at our Google Chrome plugin. This stores all your details in chrome itself, so they never actually leave your computer.

This plugin doesnā€™t support as many banks as the Yodlee feed, and it isnā€™t automated (it requires you to access the page and click a button or two).

The other thing you may wish to consider, is some banks (Iā€™m aware that HSBC does this) allow you create a new user account to access the accounts, but you can limit what they can do (e.g. disable transfers, limit what they can see etc.).

The log in details would be specific for your bank account, so your QuickFile account details are completely separate from this.

What type of RBS bank account do you have? Iā€™m not familiar with RBS, but looking at their website, they offer the choice of Bankline and Digital banking. Iā€™ve just done a quick search on Yodlee during the set up process, and the one thatā€™s listed as most popular is Bankline. If you do a search however for Royal Bank of Scotland, it will reveal a few options, including the two I mentioned:

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I believe you may have a Digital account (although I could be wrong), as this seems to ask for a customer number, pin and password when trying to set it up.

Let us know how you get on, and if you need further help, please donā€™t hesitate to ask! :slight_smile:

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Thank you. It all makes sense now. I didnā€™t see the search facility. I assumed that it was only the listed banks!

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Iā€™ve set this up with a Co-operative Bank Business account, but it doesnā€™t seem to import anything.

Iā€™ve waited several days clicked the ā€˜Refresh bank feedā€™ too. It asks me what date I want to import from, but then doesnā€™t find any transactions. There were about 15 transaction to import (Iā€™ve subsequently imported them manually).

Also, when I click on ā€˜Refresh bank feedā€™ it asks me to put in the code from my code generator. If it needs me to d that every time Iā€™m guess it wonā€™t automatically update unless I log in and provide the code. If so, this is far less useful for me as it means my colleagues still have to wait until I import the data (albeit that now takes me a couple fewer steps). Or does it only ask for the code when the bank feed is manually refreshed?

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Hi @AsherJac

Iā€™m not sure why it wouldnā€™t be finding any transactions if itā€™s managing to log in all OK. Iā€™ll send you a private message to get some more information regarding this.

If your bank relies on 2 factor authentication, such as a one time code, or a SMS, then unfortunately automated feeds arenā€™t possible. Thereā€™s more on this in our Yodlee article (here), but Iā€™ve quoted that specific part below for reference:

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Some accounts rely on multi-factor authentication for access (e.g. HSBC). In such cases Yodlee are unable to automatically connect and download your transactions, however you can still retrieve them within QuickFile by performing a manual refresh and supplying a multi-factor token when prompted to do so.

Ah, hadnā€™t seen that.

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SO, have bought the subscription for two separate business accounts. Lloyds and HSBC. Lloyds didnā€™t go smoothly as it wasnā€™t clear how to login with memorable data and and a result had to use the card reader - the result, the bank ā€œfeedā€ doesnā€™t work. How do I revert to memorable data so this feed comes in automatically?

With HSBC, understand that with compulsory 2 factor authentication it wonā€™t automatically update, but with just a week of past transactions I will need to update the feed every week. This is not what I signed up for and feel I have been sold a bit of a pup. The warning about 2 FA should have been far more prominent, IMHO.