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Yes it is possible but you can exclude it later during reconciliation. If you are not using QBO Advanced, consider having a backup recovery app to lower any risks.
https://partnerwithus.rewind.com/quickbooks
I want to ensure that you can connect your bank with QuickBooks, @JamesJude.
I agree with fiat that it's possible to have a duplicate transaction when connecting banks in QuickBooks Online (QBO). With that, we can remove duplicate transactions from your register by excluding them.
Here's how:
After removing all the duplicate transactions from your bank register, you can now proceed with reconciling the account. For more guidance, feel free to check out this article: Reconcile an account in QuickBooks Online.
Once your bank account is connected, you can start reviewing downloaded bank and credit card transactions to ensure your financial records are correct. For more guidance, feel free to check out this article for future reference: Categorise and match online bank transactions in QuickBooks Online.
Feel free to comment below if you have further questions about connecting your bank to QuickBooks Online. I'll make sure to get back to you as soon as I can. Stay safe!
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