New EU standards, due to take effect from 14 September 2019, will change the way some banks connect to Xero. To comply with this change, many of Xero’s bank feeds will be replaced by new direct feeds using Open Banking.

What is Open Banking?

Open Banking is a secure way to share your financial information with companies like Xero. It gives you greater control of your data and how it’s used. 

What does it mean for me? 

How you are affected will depend upon which bank and bank account you have connected with Xero. You may be required to update your existing bank feed to a new direct feed so your transactions continue to flow into Xero each day. 

There is nothing for you to do right now – but we’ll let you know once we have guidance of when and how we need to change to the new bank feeds. 

Want to find out more?

Call us on (01474) 853856 and we will put you in contact with one of our advisers, or send us an enquiry by clicking below.

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