Xero 90-day Bank Feed Re-Consent
We’ve been passing on Xero’s promises that the 90 day Bank Feed process was going to be made easier for some time, so we’re very pleased to let everyone know there is a new, simplified process for UK bank feeds within Xero. Rather than having to re-authenticate with your bank every 90 days, all you now need to do is re-confirm consent within Xero.
In future you will only need to re-confirm consent for bank feeds to continue every 90 days. You’ll just need to click on a ‘renew connection’ button in Xero.
This means you’ll no longer have to log in to bank accounts and re-authenticate their bank feeds, and as long as your team members have your permissions to do so, they can re-confirm on your behalf. You may need to check their permissions for them to do so, but anyone with a Standard User role should enable them to do this for you.
Is this relevant for ALL linked Bank Accounts?
Sadly not! A lot of banks have made the necessary changes, but some are yet to do so. You can check on Xero Central to see a list of banks who have implemented the changes.
What happens if the connection isn’t confirmed?
If the connection isn’t reconfirmed after 90 days, the feed of transactions will stop from the date consent expired.
What about a new feed?
If you add a new bank feed for a UK bank which is live with the new process, you’ll need to authenticate for the first time, and reconfirm the connection every 90 days.
What if you want to stop your bank feed?
You can stop the bank feed within Xero. There’s an explanation on Xero Central of how to stop the bank feed.
The advent of Open Banking was supposed to be really beneficial for everyone, but sadly the bank feeds aspect has been a major headache. Hopefully this is a big step forward for everyone!
If you have any questions around the revised process, your first port of call should be Xero support, as they are experts. As ever though, if you have any problems, as long as time permits, we’re happy to help where possible, so please do drop us an email of you need to and we’ll come back to you as soon as we can. Please be aware though that we’re not set up to replace Xero’s support team, so please try them first!