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.
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 banks are supported?
Here is a list of the main UK banks supported.
- HSBC Bank
- Barclays Bank
- Santander Bank
- Natwest Bank
- Royal Bank of Scotland
- Lloyds Bank
- Metro Bank
- Co-Operative Bank
- Nationwide Bank
- Halifax Bank
There are many more so if you don’t see your bank listed please refer to the full UK list or contact us and we will let you know if your bank is supported by Yodlee.
How do I activate the Yodlee Integration?
The Yodlee bank feed integration is treated as a separate (optional) subscription that can be enabled for £15 + vat per year. You can activate this subscription by going to the “Help” menu and select “Additional Services”.
You can then click “Update or add a new subscription”
From the list you can simply check the box for Yodlee and proceed to the checkout.
If you’re a QuickFile Affinity user then it’s possible to add the Yodlee subscription to any of your managed profiles directly from the profile detail screen.
When a subscription is added from Affinity, the annual fee is distributed over 12 months and collected automatically via Direct Debit.
Setting up a bank feed
To setup a bank feed first navigate to the bank statement view in QuickFile for the account you’d like to activate the feed on. You can get a full list of all your bank accounts in the “Banking” menu followed by “All bank accounts”.
In your statement view, click the “More Options” button followed by “Activate Bank Feed”.
You will now be presented with a list of popular banks along with a search tool to locate any banks that are not listed. Please also note that for those banks that provide business and personal banking, the bank may be listed separately for each case. There are also typically separate bank listing depending on your country.
Once you select your bank you will be prompted to go through the authentication stage with Yodlee:
Once authorisation has been granted you will be presented with a list of bank accounts identified from the authentication stage. If you have multiple accounts with a particular bank you will be able to select which one you want to link here.
Once confirmed that’s it, your feed is setup and ready to go.
When is the Yodlee bank feed updated?
We connect to Yodlee once every 24 hours, just after midnight to refresh your bank feed for the previous day. You also have the option to perform a manual refresh on your account whenever you choose, although you can only make one manual refresh per 30 minute interval.
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.
Manually refreshing your bank feed
You can manually refresh your Yodlee bank feed whenever you choose, although you can only make one manual refresh per 30 minute interval. To perform a manual refresh on your bank feed simply head over to the relevant bank statement page and in the “More Options” menu select “Refresh Bank Feed”.
When refreshing you may be prompted to confirm your bank credentials, once supplied it will typically take anywhere between 20 seconds to a minute to perform the refresh on the account.
Accessing your Raw Yodlee Data
With any active Yodlee Feed we will automatically store the raw transactional data supplied by Yodlee every time a manual or overnight refresh is performed. You can access this raw data from your bank statement view by going into the ‘More Options’ menu followed by ‘Bank Feed Details’.
We retain this raw data for 2 months and it can be useful for identifying any syncing issues, typically where a transaction is not imported (highlighted orange) as there is a similar entry is already present.
Filtering your Yodlee Feeds
Occasionally we identify cases where Yodlee present the same transaction to us on different days but with slightly more detailed descriptions. For example on one day we may receive a transaction as follows:
24/02/2017 | PayPal Payment | £14.99
Then on the following day they will supply:
24/02/2017 | PayPal Payment - REF123456789 | £14.99
This is really more symptomatic of the way the banks retrospectively alter descriptions. By default we will consider any duplicate to be an entry where the date, description and amount match, in such cases we will cautiously avoid inserting that entry into your bank feed.
In the above example this logic would fail given the different descriptions, so for a number of banks (Most notably Natwest & RBS) that are known to retrospectively alter descriptions, we will consider a duplicate to be one where just the date and amount matches. The flip side of this is occasionally you may have entries with matching dates and amounts that are indeed unique but are not imported. However in such situations you can still manually import these entries from the Raw Yodlee Data (see above) located in ‘More Options’ >> ‘Bank Feed Details’