2000+ bank feeds in North America

Published in Business on 13 January 2011 by Andrew Tokeley

Having your bank statement data appear seamlessly and automatically in Xero really helps keep on top of your business’s cash position.

This release is our largest involving bank feeds powered by Yodlee and covers more than 2000 banks and financial institutions. Included are some well known names such as American Express Cards, Citibank, Capital One, Chase Bank, PNC Bank and Wachovia.

Watch this video to see how to set up one of these bank feeds:

Look out for your inbox notification in Xero. Once you’ve received this you’ll be able to go into Xero and confirm if your bank is included in this rollout. Please select carefully your bank from the list provided. In some cases only personal/retail accounts are available from some listed banks. If you can’t activate a feed for a business type bank account let us know and we’ll work with Yodlee to extend their service to cover the most popular of any business accounts not yet available.

Our next release involving bank feeds powered by Yodlee will be for more credit card accounts in NZ and Australia and then support for banks which have multi-factor authentication for online banking access. We’ll keep you posted…

48 comments

Brad
13 January 2011 #

Exciting release. Looking forward to multi-factor authentication being released so that I can use the features. Do you have a ball park estimate like Q1 or Q2?

Andrew Tokeley
13 January 2011 #

@Brad – while we’ve got our designs pretty much sorted and development is well under way I’m a bit nervous about setting any expectations. We’ll have a better idea in a couple of months time so stay tuned for more updates.

David
13 January 2011 #

There is only 5 major banks in Canada, all of them are among the top 20 largest in North America, yet your 2000 bank rollout doesn’t include any of them…what’s going on??

Andrew Tokeley
13 January 2011 #

@David – you should see more Candian banks when we support multi-factor authentication (almost 50% of available Canadian banks are MFA). Some other banks have been excluded for now while we extend our support for other types of login entry fields (for example, captchas, drop-downs) – it’s all on it’s way, so hang in there, we’re on it… cheers

Jason M Blumer, CPA
13 January 2011 #

Hot dang! This is a freakin’ game changer! Great work everyone! See you soon.

Richard Dyer
13 January 2011 #

Can’t wait for MFA, after US picking up the mess from accountants who were supposed to know what they are doing, it’s taken us about 6 weeks to get a years worth of transactions, invoices and the like into XERO including use of the API to input and reconcile our card transactions.

The only pain now is downloading, editing and uploading the bank statement!

Erik Reagan
14 January 2011 #

Is Bank of America in the list? I thought I saw it recently mentioned but in my Xero bank account management it doesn’t appear to be included. What a bummer.

Trevor Gehman
14 January 2011 #

Dang, Regions Bank (www.regions.com) is still not supported. Hopefully soon! Manual imports are a pain!

Andrew Tokeley
14 January 2011 #

@Erik – at the moment not all Bank of America sites are supported – you can see which ones are when you edit one of your accounts in Xero and start typing “Bank of America…” in the bank field. The remaining sites will be added once we sort out MFA and additional entry fields… stay tuned.

@Trevor – yep, Regions Bank is MFA

Bradley
16 January 2011 #

Why can’t I find a list of supported banks without having to set up an account? Seems like it would be a useful list to publish. For example, is ABN-AMRO supported?

Andrew Tokeley
17 January 2011 #

@Bradley – as the list of supported banks is still changing we decided not to pubish a (long!) list. As you say, the best way to find out about your bank is to perform the search within Xero.

Another advantage of signing up is that you can specify your bank even if it’s not currently supported. In this way we can gauge whether there is enough demand to add support for a new bank feed.

From my latest records ABN-AMRO is only support in India – strange but true.

Marcel
20 January 2011 #

Hi Andrew,

first of all congratulations to working for this great software/company.
Our company is based in Hong Kong and we are working with HSBC.
Is there any rought timeline by when you think you will be able to integrate Hong Kong banks into Xero?

HSBCs online banking is a pain in the ass to be honest and a lot of things are not user friendly at all. Login works via an external password generator – so is there a chance to still include it?

Does any of the other readers have a company account with another HK based bank which allows login via mere password not requiring the password generating device?

Thanks,

Marcel

Jeremy Bruck
27 January 2011 #

I am looking forward to the full Bank of America import support so that I can get rid of quickbooks online and fully switch a couple of companies over to xero.

Andrew Tokeley
27 January 2011 #

@Marcel – we do have a feed available (but not yet turned on but coming soon) for ANZ in Hong Kong – however, it is for their personal, not business, banking customers only. Other than that I’m afraid we don’t currently offer anything in Hong Kong.

By the way, sites that use external password generators will be supported as soon as we implement our multi-factor authentication work – but again there’s nothing further planned in Hong Kong at this stage.

Lawrence Sinclair
2 February 2011 #

We also use HSBC bank in Hong Kong (a MFA bank) and would really like to see support for this bank. I’m pretty sure we are not alone in being the sort of international customer Xero should want. And such customers will choose the likes of HSBC or Citibank in Hong Kong and Singapore, as well as other locations. The reason for this is that there are few multi-currency online accounting options, and smaller global companies who need those options will typically be Citibank or HSBC customers in various and multiple places around the world.

Akil Franklin
16 February 2011 #

Hi there. You have a very cool product I think. One that I’d like to try.

I tried moving to Xero a year ago, but wasn’t able to make the jump because you don’t support importing to Bank of America outside of ID & WA.

Since it’s been over a year, I assumed you must have implemented BOA for the rest of country by now… but after stepping through the crazy-long setup process again, I found out that BOA still isn’t supported outside of ID & WA.

This essentially means that the product doesn’t work with 96% of the customers of the world’s largest bank.

Just sayin…

Plus, in the past year, Quickbooks online has made huge strides in improving their user interface AND connectivity (they now have a REST-Like API… whaoh! Thought I’d never see the day!), so the need for Xero has lessened considerably.

So… when will you guys bring real support for BOA? When should I check back (assuming Quickbooks hasn’t fully caught up to you in terms of UI by then)?

Andrew Tokeley
17 February 2011 #

@Akil – sorry to hear you can’t make the jump to the bright side yet, once we have multi-factor authentication and a few other things sorted we’ll be able bring BOA online.

David
9 March 2011 #

Any update on the multi-factor authentication? Wells Fargo to be exact?

Dana
4 April 2011 #

I am looking for an online accounting system like yours for use with many of my clients. As stated above, I can’t make the switch until I know the banks we use import. The 2 clients we want most to use xero, bank with Wells Fargo. Looking for an answer on that without signing up, otherwise we will have to go with QBOE.

Andrew Tokeley
5 April 2011 #

@David – unfortunately I still can’t give a definite timeframe for MFA support. Wells Fargo is supported but, as you know, is MFA.

Michael
12 April 2011 #

Will you be supporting Silicon Valley Bank?

Alastair Grigg
13 April 2011 #

Hi Michael, Yes once we release support for banks that use MFA for Internet Banking access.

Russ Perry
25 April 2011 #

Went through all the setup only to see that Wells Fargo is not supported!! Major Bummer.

Any ETA for MFA support?

Thanks in advance!

Damian Miles
1 May 2011 #

Xero is an amazing product, business game changer I believe.

I also use HSBC HK as its probably the best account for a small business dealing in International Markets. I did try to export a .CSV but that doesnt work either.

Thanks

Damian

Jenny
25 May 2011 #

Echo the comments about HSBC Hong KOng – I cant even seem to find where to download a .csv file. How can I manually enter statement data to do the bank rec?

Andrew
20 February 2012 #

HSBC Hong Kong sucks big time when it comes to providing .CSV or other file formats for bank statement data.

We’ve ended up hiring a data entry person to manually enter our bank statements into a .CSV format. A big pain in the bank side but it works. Can’t wait for Xero to start supporting banks in Hong Kong.

Are there many Xero users in HK? It would be great to form a HK Xero user community and share info about which accounting/auditing firms are Xero savvy etc.

MattSH
15 March 2012 #

Running a company with headquarters in HK, I would love to find a solution to feed my bank statements from HSBC Corporate into Xero, not yet user and it’s the only thing holding me back now.
Beside having someone manually creating the .csv file, anyone with a solution?

Demian
8 May 2012 #

Once more Echo the comments about HSBC Hong Kong Business Banking. Any news on this topic yet? Seems like this is a hot issue.

Matt Vickers
11 May 2012 #

@Matt and @Demian Yodlee only provide a feed for HSBC Hong Kong Personal Banking presently.

Yohei
6 June 2012 #

We would also like to see HSBC / HK supported in the future. We are also a SMB using HSBC in HK which really is a pain in terms of bank reconciliation. Judging from the comments on this thread, I think this support would attract many potential customers with similar issues.

Jim
14 June 2012 #

Again – echo the comments about HSBC HK! I don’t even think they provide statement data in the form of a CSV. It’s a complete pain in the a**! I couldn’t for the life of me get the bank feeds to work, so I’m stuck entering everything in manually..

Gene
14 June 2012 #

Echo the comments on HSBC HK. If any of you know an accountant in HK that is familiar with using Xero, please let me know, thanks!

Mark
23 August 2012 #

+1 for HSBC HK – this is a must for business

Martin
28 August 2012 #

We’d love to see support for commercial HSBC HK accounts as well!

Jeff B
3 September 2012 #

We are still waiting for actual support for Bank of America – VISA Information Management

Sebastian Svensson
12 October 2012 #

Hi Guys
We are a Hong Kong Xero accounting firm. We can help getting your bank feed into xero even if it requires some manual work from our staff.
Let us know if interested: sebastian@cmgandpartners.com

James
17 December 2012 #

We also need HSBC HK Business account support

liu
3 January 2013 #

I also would need HSBC HK solution! What are you using now as accounting software or solution for HK business ?

Jon
17 January 2013 #

Has anyone using HSBC Hong Kong been able to link up (i) Commercial Bank account, (ii) Commercial Bank Visa credit card, (iii) Personal Bank account?

Xero has the option to add the HSBC Personal Bank Account but after trying numerous times to add the linkage, it has failed. Anyone with the same problem?

mike
28 January 2013 #

Just saw this thread and I agree if they could like HK banks (citi and hsbc etc) that would be great.

Timothy D. Swieter
8 February 2013 #

I am looking into setting up a company in Hong Kong. HSBC would be my choice for banking. Xero is my choice for accounting. Boy I would love it if the two could play together.

Cynthia
14 February 2013 #

Add +1 for HSBC Hong Kong: or any other bank in HK. Any update on the ANZ Hong Kong commercial banking status? I’d change banks for data feeds..

Jesse Archer
15 February 2013 #

We are about to get setup with HSBC Hong Kong – any further update on Xero providing automated bank feeds for HSBC business accounts?

Considering HSBC is such a major institution, I’m surprised Xero doesn’t support it at present.

YT
28 February 2013 #

Hello Andrew,

Xero looks like such a promising software that I keep coming back to this thread for any hope of Hong Kong banks support (in my case, HSBC)
It’s been over 2 years since Brad’s first comment, any progress on Hong Kong bank

Yohei
28 February 2013 #

Hello Andrew,

Xero looks like such a promising software that I keep coming back to this thread for any hope of Hong Kong banks support (in our case, HSBC HK).

It’s been over 2 years since Marcel’s comment, requesting for Hong Kong banking integration. Is there anything planned this way?

Matt Vickers
28 February 2013 #

Hi @Yohei et al. – we’d be more than willing to work with HSBC (HK) if they had an appetite to supply feeds to us. Have you asked them?

Jeff
3 May 2013 #

Bank feeds are a fantastic feature. We love having a sync between xero and our BoA and AMEX accounts. However, we are still waiting on actual support for “Bank of America – VISA Information Management”. Looking for new information nearly a year now.

Keep us posted

Matt Vickers
8 May 2013 #

Hi @Jeff – it looks like this feed is still being developed – we’re in the process of building a new support structure with Yodlee so I’ll see if we can get this looked at. As with all things feed-related, it’s best to follow up with our customer care team.

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