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How to set up an Open Banking bank feed

Open Banking bank feeds automatically import transactions from your business bank account into your FreeAgent account. This article explains how to set up an Open Banking bank feed.

Open Banking bank feeds are still in beta! If we haven't sent you an email invitation to set up a feed, please hold off setting one up for the time being. They'll be open to all of our users very soon!

Please be aware that you may need to be registered with your bank for online banking to complete this process.

If you already have an existing bank feed set up for that bank account, it’s very important that you disable that bank feed before setting up an Open Banking feed for it.

1 Navigate to the ‘Banking’ tab

New to FreeAgent?

If you’re new to FreeAgent, you’ll see this screen. Simply click ‘Set up a bank feed’.

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Existing FreeAgent users

If you’ve been using FreeAgent for a while, you’ll probably be taken to the Bank Accounts Summary page. From here, click to enter the bank account you want to enable the feed for. If you’ve had a bank feed set up in the past, you’ll need to follow these instructions to make sure it’s been correctly disabled.

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Then, select ‘Enable Bank Feed’ at the top right of the screen.

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2 Select your bank

For Open Banking bank feeds, either choose one of the icons at the top of the screen or use the search to find your bank. At this time, a limited selection of payment accounts, mostly business banking accounts, are eligible for this service.

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3 Authorise the connection with your bank

Next, you’ll be taken to your bank’s website to authorise the connection process. This process may differ from bank to bank, so please follow the prompts given to you by your bank to complete the reconnection setup with FreeAgent.

As part of the Open Banking standard, we need you to give your explicit consent every 90 days to connect your bank account to FreeAgent. When it’s time to re-consent, we’ll let you know.

4 Connection successful!

Your Open Banking bank feed is now enabled. You just need to confirm or select a FreeAgent bank account to associate with the feed, as well as your transaction start date. Please note that your transaction start date cannot be earlier than your FreeAgent start date.

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And that’s it!

Select 'Show me my transactions' and you’ll be taken back to the main banking screen.

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On the banking screen, you'll see that your bank feed is currently pending. Your feed should start pulling through transactions very soon, so hold tight!

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