Xero Bank Feeds - Update
Last month we reported on the new Open Banking regulations which were to result in old-style third party bank feeds being switched off by 14 September, with the banks in a race to set up new direct feeds for Xero and other systems before the deadline. This deadline has now been relaxed by the FCA, so the banks now have until 14 March 2020 to comply.
An update on where each of the main banks have got to on this project is set out below:
- RBS/NatWest - new feeds for current accounts available now; deposit accounts and credit cards to follow later in September
- Bank of Scotland/Lloyds - all accounts to remain as they are until January 2020, when feeds for current, deposit and credit card accounts should all become available
- Barclays - current and deposit accounts phased in October 2019 and February 2020, with Barclaycard account feeds available in October 2019
- Clydesdale - current and deposit accounts available in January 2020
- Santander - any non-direct feeds can be transferred over now; third party feeds will cease in January
- HSBC - any non-direct feeds should be transferred to a direct feed by 12 September
- TSB - current, deposit and credit card account feeds available in November 2019
- Co-operative Bank - unfortunately no timescale is available yet
The above information is as provided by Xero on 3 September 2019. We will provide updates when we become aware of any major changes to this timetable.