Introducing Bank Feeds – a new service from Clever Accounts

Updating your online accounts is an essential routine to ensure they are accurate and you can confidently calculate what you can take from your business in dividends.  Bank reconciliation plays an important role in helping you do this – that’s the part where you match your uploaded bank entries into the bank account.  However, the data is only ever up to date if you ensure you upload your statements regularly and process the transactions.

Today, we’re releasing a new auto bank feed tool allowing you to automatically import bank statements from your bank account into Clever Accounts, removing the time consuming job of uploading them.

The automatic bank feed is available for HSBC, Cater Allen, RBS and Natwest banking customers.

How safe is it?

One of our main concerns is ensuring that our clients are totally confident that our feed was safe and secure.  There are a few solutions currently being offered by other online accounting packages, some of these do have some risks due to the need to disclose sensitive data in order to connect to the feed.

However, our feed is totally safe and secure.  All you need to do is download and sign the bank mandate forms and return it back to us.  After a few days, your feeds start coming through automatically – no login details or security passwords are ever given.  The read-only transactional feed is downloaded daily, every morning, so there is no risk to you or your money.

Is there a cost?

If you are a Cater Allen customer, the feeds are completely free whichever package you are currently paying towards e.g. Complete, Extra or Premium.

If you are a customer of HSBC, RBS or Natwest, I’m afraid there is a small monthly fee of £5.00 per month to cover the costs met by us to provide the feed.

However, if you sign up to the “Extra” or “Premium” package (which includes our bookkeeping service) there are no fees whatsoever for any banking feed.

For further information our our bank feeds visit our help centre.

Posted by Chris Mollan