HSBC Xero Bank Feeds are changing…

Bookkeeping, News, Xero,

Xero have recently published the following guidance around HSBC Bank feeds, which we felt should be highlighted. We know that some of our clients use HSBC for their banking, but there may well be other users who will be unaware of the changes that are coming on the 30th July 2021.

The Xero notification reads as follows:

‘From 30 July 2021, direct HSBC bank feeds will no longer be supported by Xero.

Existing HSBC bank feeds will stop importing transactions into Xero. Customers will need to switch to a new HSBC Open Banking feed to continue enjoying the benefits of a bank connection, such as easy reconciliation.

The good news is, the new feeds using Open Banking are secure, quick and easy to set up from inside Xero, and included in your Xero plan where available at no extra cost.

New feeds are ready and waiting now with the following HSBC Business account types:

  • Current
  • Savings
  • Deposit
  • Credit cards
  • Foreign currency

Some HSBC bank account types will not have Open Banking feeds

Not all HSBC accounts are supported with Open Banking feeds. If you or your clients have a bank feed with an HSBC account type other than those listed above, those transactions will need to be manually imported into Xero from 1st August.

Switching to a new HSBC bank feed

To switch to a new feed, you’ll need the relevant online banking credentials handy. It’s simple – just follow the prompts to ‘Update bank connection’ on the Xero dashboard under the affected bank accounts. It should take less than five minutes.

From 1 August, you will no longer be charged for HSBC direct bank feeds.’

 

If you struggle to set up your new bank feeds, and following the links above doesn’t help, please get in touch. We’ll do our best to help!

 

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