Due to new industry wide standards, existing Xero bank feeds with Barclays, and all bank feeds set up using Yodlee, will no longer be available from mid-September 2019.
Anyone affected will need to change to new bank feeds to make sure transactions continue to flow into their Xero account. Any existing direct bank feeds not set up via Barclays or Yodlee will not be affected.
Xero have announced their partnership with OpenWrks, which brings new secure bank feeds that are easy to set up from inside Xero, and free of charge to use.
For most UK banks and account types, the new feeds will be available in stages, starting in August, however for some users their banks won’t be ready in time and will make feeds available at a later date.
In the meantime, these users will need to manually import Xero via the statement import function, or wait until a feed is live and back date their transactions.
If you want to check the current status of your bank you can do so here.
If you are affected, Xero will notify you directly through your Xero dashboard, or by email, with instructions on what to do.
If you have any issues with your Xero bank feed, or would like more information on how SMH can help with Making Tax Digital for your business, please contact your local account manager, or drop us a line on 01142 664 432 or info@smhca.co.uk.
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