Xero - what do I do ?

Xero bank feeds

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I have just received a email from Xero that makes no logical sense. Reading between the lines it seems they are going to turm off the bank feeds on 12th September ( thats good new just after everyone has signed up with them for MTD) . Well done Xero and HMRC :). The email tells you what you need to do but falls short of actually telling you what to do. Am I correct in thinking to keep it going you have to send a manual form to your bank to exchange information, and what do you do after that. 

Replies (10)

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By Matrix
02nd Aug 2019 11:57

I saw that too. I leave clients to manage their own feeds, I babysit them enough already, this is one thing I can’t do for them. Xero says it will email our clients. All of mine contract directly with Xero anyway.

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By Cloudcounter
02nd Aug 2019 12:03

Nothing to do with "turning off" bank feeds. The way in which bank feeds operate is changing due to the changes to open banking rules.

Did you bother to click on the link in the email to the Open Banking guide for Xero partners? Does't look like it.

Xero tell you exactly what to do, provided that you read it of course

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Replying to Cloudcounter:
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By GHarr497688
02nd Aug 2019 12:28

Yes I read most of what was said and I assume the dashboard will tell you what to do and when :

"The new feeds will be made available in stages beginning in August. When it’s time to switch, you’ll see a notification on your Xero dashboard. It’s a simple process."

When I read it I thought it was quite a lot to take in but basically I assume you do nothing until the dashboard tells you to do something.

I thank you for replying but it would be so refreshing if answers to questions were written in a positive rather than arrogant and condescending way. I can see why Accountants are called arrogant and up themselves.

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boat
By SouthCoastAcc
02nd Aug 2019 12:07

I think there may have been a template email to send to clients too

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By daniel_
02nd Aug 2019 14:40

The issue is that some banks haven't actually got their Open Banking system set up yet.

There's a list of banks and what you need to do if anything here:
https://central.xero.com/s/article/Bank-feeds-affected-by-Open-Banking

Unfortunately the answer for a lot of them is "wait until the bank has their new feed ready" which could be after the old feeds stop working.

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By Mr_awol
05th Aug 2019 15:01

There is one slightly confusing item - when you go into the banks list in Xero where it tells you what action needs to be taken, it seems to include some feeds which are on the main page as 'no action required, existing feed continues'.

Im not sure if this is an error, or whether my (for example HSBC direct feed) which says I need to act before 5 September was set up on an old paper form and wouldn't show if it had been set up online.

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