Open banking is a quick and easy way of adding your banking transactions into our portal. Unlike with CSV imports, once you have set up a connection to your bank, transactions are pulled into the portal automatically. This cuts out the need to worry about downloading spread sheets and uploading them to our system.
Currently we support 27 bank accounts, including:
- Bank of Scotland
- First Direct
- Metro Bank
- And more
More accounts are being included plus other payment processing facilities such as paypal and credit card facilities will also be introduced.
Truelayer, our open banking partner
Open banking is designed to be safe and secure and there are many financial audit and compliance checks to pass to be approved to offer this. As part of the strict compliance checks, we’ve partnered with Truelayer to provide the technology to allow the safe and secure integration between us and your banking provider.
It’s important to note that we only facilitate the integration and flow of transactions between your bank and our portal. You login securely and authorise the feed with your banking provider and neither ourselves, or Truelayer, ever have access to your sensitive login details.
This connection needs to be reauthorised every 90 days otherwise it will expire, thus increasing the security.
Activating your bank feed
Login to your portal and go to Banking. You will see a banner asking you to connect to open banking
Click on the “Authorise your banking provider” button and click on Connect your accounts
You will then be directed to Truelayer to set up and confirm authorisation with your bank account to allow open banking with our system.
Select the bank provider you would like to connect to
You will then be redirected to your online banking provider to enter your login credentials
Once authorised, you will be redirected back to Clever Accounts and you will see a list of available bank accounts we’ve been able to pull from your actual bank account.
You then have 3 options
Connect an account: if you have already set up and / or using a bank account in the portal and we have been able to match against your sort code and account number, you can click on “connect account” to connect to that account.
Create account - if you haven’t set up a bank account in the portal and wish to connect to an account from the list, click on create account. This will create a bank account in your portal and connect it to your online bank account.
Merge account - if you have already set up a bank account in your portal but we haven’t been able to match your sort code or account numberx but you know the accounts are the same, you can merge the two accounts. Merging will connect your online bank account with the account you have already created in the portal
Once connected, transactions will be automatically downloaded every 4 hours to ensure your accounts are up to date.
Connect additional bank providers?
If you have bank accounts with more than one banking provider, you can connect multiple instances e.g. you have a Lloyds and Tide bank account.
Click on the link on the banner within the bank connect tab to authorise another banking provider
You will go through the same process as above and have access to both accounts.
When will transactions appear
Transactions will appear on our next collection point and then we will pull data down every 4 hours if your connection remains active.
It’s worth pointing out that you must re-authorise your banking connection every 90 days or you will lose connection and your feed will stop. We will display a message a month before your connection is due to expire and you will need to login again to your banking provider