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How to switch from your existing bank feed to 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 switch from your existing bank feed and set up an Open Banking bank feed.

Please be aware that you'll need to be registered with your bank for online banking to complete this process, and that you'll need to have any necessary security devices, like card readers, to hand.

If you’re switching from a Barclays BDS feed to an Open Banking bank feed, follow this article to complete your setup.

First things first - check that your Open Banking bank feed is live

As soon as your new Open Banking bank feed is ready, we’ll drop a handy notification (just like the one pictured below) into each individual bank account with a feed.

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New notifications will be added as new bank feeds are enabled, so don’t worry if your Open Banking bank feed isn’t live quite yet. The vast majority of our banks feeds are either already live on Open Banking now or are due to go live very soon.

Here’s a timeline for when the most popular Open Banking bank feed are estimated to go live.

1 Select your bank account

Go to ‘Banking’ and click on the Bank Account which has the feed you wish to switch or disable

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2 Select the 'Switch Bank Feed' button

By clicking the ‘Switch Bank Feed’ button at the top right of your screen, you’ll kick off the switching process.

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3 Select your bank

Choose your bank from the 'popular feeds’ area, or if you can’t see your bank, navigate to the search box at the bottom of the screen.

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4 Select the account type

Select the account type that you want to connect, for example, a current account or a business account.

Banks and accounts not currently eligible for Open Banking will be connected through our third-party provider bank feed set up. We are adding more banks and account types regularly, so check back soon if your bank account isn’t supported right now.

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5 Consent for connecting to your bank

Select ‘Connect to your bank account’, this provides us with your consent to access your account details.

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.

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6 Authorise the connection with your bank

Next, you’ll be taken to your bank’s website to authorise the connection process. Please follow the prompts given to you by your bank to complete the connection setup with FreeAgent.

When you’re entering your account number and sort code, it’s important to make sure not to include any spaces or dashes between those numbers, or you won’t be able to complete the setup process.

And that’s it! Your connection is complete!

That’s it! You now have an Open Banking bank feed.

If previously you had to select the green ‘Import new transactions’ button, your new bank feed will automatically import data from your last transaction date, so you won't lose any transactions.

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