Cant connect my HSBC Euro or Dollar account

Hello there, @Sam7310.

In QuickBooks Online (QBO) UK, Open Banking is the only connection you can establish to connect your bank. This new platform allows customers to share their financial information electronically and securely which is confirmed every 90 days.

To check which bank you can connect to your Open Banking, you can refer to this article:  Upgrade your bank feeds to Open Banking.

If the bank is not there or missing it means you can't connect it to your Open Banking. 

To bring your transactions in QBO, you can manually import it. This way, you can also get older transactions from your bank.

You might also want to read this article to know more about how to match bank transactions in QuickBooks: Match and Categorize your Downloaded Bank Transactions. 

Please know that you can always post any questions you have. Have a great day!

Hi Charlene,

Thanks for the reply. The problem is not connecting to my bank. HSBC is on the list. The problem is I can only see my GBP account. My Dollar and Euro account won't connect. They dont come up when I connect to the bank to add them yet on the HSBC banking (when I log in) it shows that QB has been authorised to access them.

So my question was not if my bank is compatible with open banking, but how can i connect my non Sterling (GBP) accounts on HSBC or is this not possible at this time.

Thanks

Sam

Hi there, Sam7310.

It could be your Dollar and the Euro account is not yet supported for Open Banking connections. That's the reason these accounts won't connect.

I suggest changing the currency of your Dollar and the Euro account. To do this, you'll need to create a new bank account that uses foreign currency for the account that you want to connect. Before doing that, you have to turn on first the Mutlcurrency feature.

 Here's how to create a foreign currency account:

1. Click Accounting in the left menu.
2. Choose Chart of Accounts.
3. Click the New button.
4. Choose the appropriate Account Type and Detail Type.
5. Enter a Name for the new account and an optional Description as well as any other required fields.
6. Choose the foreign currency to assign to the account from the Currency drop-down menu.
7. Hit Save and Close.

Once done, you can now manually import your foreign transactions. You can check this article to see the steps: Manually upload transactions into QuickBooks Online.

After that, please refer to these articles to see different information about Multicurrency and how you can assign a foreign currency to your customer.

• How Multicurrency works
• How to add a foreign currency account
• Assign a foreign currency or multicurrency to a customer

Please let me know if you have other questions related to QuickBooks. I'm always here to help.

Same issue as Sam7310,

opened HSBC USD, EUR accounts - can't connect them to QB. Just can't find account when connecting to HSBC through QB.

Could you please ask TechSupport if they are doing something about it?

Hello SGI, 

Welcome to the Community page, 

If you can't find a connection for these accounts then they will not be on the new open banking yet, and it will be a case of csv the transactions into that account.  

Hi, I was wondering if you got this to work as I have the same issue? My bank feeds are set up correctly on my HSBC account but only GBP shows when I try to link them on QB... 

Hello Annatlx, 

Thanks for commenting on this thread, 

If you don't see the connection option for the Euro or Dollar account this will mean that it is not yet on open banking and it will be a case of having to CSV the transactions into your account.  

Hi QB

I can see that the only answer being given here is that transactions have to be uploaded manually. 

I too have the same problem with QB not connecting with my HSBC EUR account therefore my question is, is something being done to solve this issue?  I assume a lot of QB users have multicurrency accounts and HSBC is a major bank...

Thank you for some clarification.

But I still don't understand why we can add EUR and USD account to bank feeds on our HSBC account, if only GBP is allowed for Open Banking? 

Also when I spoke to HSBC they said it should appear when linking to QB. Why wouldn't they just say only GBP is allowed at the moment??

Hello Annatlx, we have spoken with our senior banking team to clarify the situation with open banking and HSBC it is not the case that ,only GBP is allowed, At the moment it is only bank accounts that HSBC has made available through open banking we can connect with, it doesn't really matter the currency, but if you don't have the option to add the other currencies then that is down to the bank not allowing the open banking connection on them.

We received an answer from HSBC:

"Information on QuickBooks

You have complained that you have been unable to link your Foreign Currency Account (FCA) with QuickBooks accounting software, even though this was working before.

I can confirm that our Bank Feeds service on Business Internet Banking (BIB) has never supported FCA’s.  However, QuickBooks used to use an additional ‘Screen scraping’ tool - a process where they collected screen data from HSBC and translated it to  to display - which would also have showed your FCA.

Accounting software providers (Xero, Intuit and Quickbooks) have recently changed the way they offer Bank Feeds and have stopped using this tool.  This means that this option is no longer available and accounts such as BMM’s, FCA’s and Commercial Cards, which could previously be viewed with various providers, are unfortunately no longer displayed. "

We keep receiving contradicting messages from QB and HSBC, you both seem to be blaming each other

Hi

I too am having this issue of not being able to connect my euro account so I get a bank feed into QB.  I contacted HSBC last week and I have been able to set up that HSBC 'pushes' the data to QB to pick up.  However, QB still can't find it when it looks for accounts.  I don't understand this.  It was so easy and straightforward before - I could check the bank account and make sure that both our company accounts were up to date.  Now, if I pull in the data manually, QB doesn't actually update the bank balance, it just shows the amount that QB thinks I have. 

I am very frustrated!!

Hello SJ85,

Thanks for commenting on this thread, 

Currently, HSCB euro accounts are not on open banking, so until it becomes available it is a case of having to csv the transactions into your account. 

I've been having the same issue on the USD & EUR accounts.  One of the reasons I chose QBs as oppose to some of their software competitors was the ease of updating all accounts. i.e 5 x GBP Accs, 2 x EURO and 2 x USD. 

This is now beginning to cause me the same issue I had with my last software supplier, hence why I cancelled the subscription. 

Think I may have to rethink my accountancy approach if this doesn't get resolved. 

For those of you following this thread, you may be interested to know that you can import FCA transactions if you use HSBC's HSBCnet internet banking platform instead of the Business Internet Banking Platform.

HSBCnet comes with a whole new set of different limitation and connection issues, and so I use BIB for GBP account and credit cards and HSBCnet just for FCAs.

Hello

I am experiencing this same issues.... Our GBP account is still connected and updating. However our USD and HSBC money market account (also GBP currency but acts as a business tax/saving account) are not connecting or updating and are no longer available to connect.

I don't believe having to manually upload data is a reasonable solution for "quick" books.

There is reference above to a scraping tool that allowed the data to be carried across and evidently this used to work fine.  My question is are QB and HSBC going to re-instate this tool or provide a new solution as the current set up simply doesn't work and the work arounds outlined above are  a massive impractical compromise.

Please could a solution be put in place and a timescale set out for when this could be resolve as this will be a big problem for many companies including ours that have more than one account.  I say this to the point that it makes Quickbooks an unviable product for our company to continue using if this isn't resolved with an elegant solution (ie not having to manually update or use different platforms to connect).

I'm in agreement with Ben, manual  update of currency data is not acceptable and needs to fixed.  I would say that "fit for purpose" clause an be invoked as a consumer.

We need this fix ASAP please. 

You can definitely do it with HSBCnet. I relinked our EURO and USD accounts this morning.

It was a ball ache getting it setup this time, but it's working now and updating automatically.

thank you. What is the difference between Business Internet Banking and HSBC Net? Does this require a ton of work to set up or switch over from my current set up? 

It feels like this should work via the Business Internet Platform as it used to do so , so they must have changed something.