Open Banking | New, real time connections
Open Banking - great news for your business
Upgrade your business to the strongest bank connection for real time cash flow insights and no more manual data entry.
What is Open Banking?
Open Banking is a UK regulation that deals with the way banks handle your financial information. It means all UK-regulated banks must let you share your financial data with authorised third party providers, like QuickBooks. That means we can provide you with more advanced, personalised services and you can save hours on data entry.
What will Open Banking mean to me?
Small business or self-employed
Better cashflow insights
Easily integrate two years’ of bank transactions for richer insights, from overview dashboards to detailed reports.
Accurate, real-time data
Open Banking connections are regularly updated throughout the day, making reconciliation is easier and giving you complete visibility across your finances.
Connections will be safer
Once Open Banking goes live, you won’t have to enter your online banking credentials on third party websites. Instead, you can securely grant permission to share data directly from your bank. You’ll need to confirm this every three months.
Accountant or Bookkeeper
More clients, less stress
Open Banking data sharing means greater accuracy and efficiency for your practice. It means greater client confidence too. As soon as your client gives authorisation for direct feeds, their data will flow directly into QuickBooks. They’ll need to re-authenticate their instruction every three months.
Forget time-consuming data pulls or manual uploads. Open Banking makes it easy to see historical transaction data in an instant, giving you a perfect view of your clients’ business.
Become a trusted advisor
As well as automating the accounting process, Open Banking is a great opportunity for accountants to add value. Transaction records will be available in close-to-real time, so you can advise your clients on their business as it is today, not as it was in the past.
As part of Open Banking, QuickBooks is swapping Standard feeds with new Direct feeds. This will give more stable connection and improved security.
When these new feeds go live, you’ll see a banner on the Banking page and if you’re the Master Admin you’ll get an email from us explaining the steps your client needs to take. If you'd like to use our email templates to explain the process to them, you'll find them in the My Marketing Portal.
It’s a good idea to contact your client as soon as possible so that they’re ready for the change and don’t lose their connection. Standard feeds will be disabled after a grace period, but it will be possible to pull in any lost data.
Make a connection today
QuickBooks integrates with most of the major banks including Starling, Tide, Revolut and Monzo. Connect today for a full view of your finances and up to date insights.
Open Banking information for businesses
Want to learn more about Open Banking feeds?
Need help with your bank connection? Visit our Community, log in to QuickBooks to request a callback or chat with our experts.Check out our FAQs
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QuickBooks Making Tax Digital for VAT software is available to all QuickBooks Simple Start, Essential and Plus subscribers. Use of QuickBooks MTD for VAT software and bridging software must be aligned with HMRC's eligibility requirements and includes additional set up between the small business and HMRC.
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Receive a 50% discount off the current monthly price for QuickBooks Online Simple Start or 50% discount off the current monthly price for QuickBooks Online Essentials or 50% discount off the current monthly price for QuickBooks Online Plus for the first 6 months of service, starting from date of enrolment, followed by the then current monthly price. Your account will automatically be charged on a monthly basis until you cancel. You must select the Buy Now option and will not receive a one month trial. Offer valid for new QuickBooks Online customers only. No limit on the number of subscriptions ordered. You can cancel at any time by calling 0808 168 9533. Discount cannot be combined with any other QuickBooks Online offers, such as the Movemybooks service. Terms, conditions, features, pricing, service and support are subject to change without notice. All prices shown exclude VAT.
Receive a 50% discount off the current monthly subscription price for the first 6 months of service starting from the date you subscribe for the service. In order to obtain the discount you need to select the Buy Now option and will not receive the free one month trial offer. After the first 6 months, your account will be charged on a monthly basis at the then current price until you cancel. The above discount offer is available only to new QuickBooks Self-Employed customers and cannot be combined with any other QuickBooks Online offers.
1Standard Payroll is priced at a rate of £4/ month subscription fee + £1 per paid employee per month until you cancel. Advanced Payroll is priced at a rate of £8/ month subscription fee + £1 per paid employee per month until you cancel. All prices are exclusive of VAT. Your account will automatically be charged on a monthly basis for the subscription fee and for all payruns processed in the previous month. Offer available to all customers with an active subscription to QuickBooks Simple Start, Essentials or Plus. Terms, conditions, features, pricing, service and support are subject to change without notice.
2QuickBooks Advanced Payroll allows you to automatically submit information to the following pension providers: NEST, The Peoples Pension, Smart Pensions, Aviva and NOW:Pensions
3Mileage tracking is available on QuickBooks Self-Employed Android and iOS and the QuickBooks Online App on iOS
These terms apply to QuickBooks UK customers only. Bulk-pricing discount offer is valid only if you are signing up for more than one QuickBooks Online subscription with each order. View terms and conditions for multiple accounts pricing here. To inquire further about the bulk-pricing discount offer, please call 0808 168 4246.
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'See how your business is doing in less than 30 seconds'; Intuit survey June 2016.
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'75% of QuickBooks Online users say working with an accountant makes their businesses run better'; Based on Intuit US customer survey 2016.