I cant work out how to do bank feeds with westpac. I have tried to follow instructions

  • 1
  • Question
  • Updated 12 months ago
  • Answered
I'm not sure how to do bank feeds for Reckon hosted. I have a Westpac bank account. I changed my preferences to sign up for reckon bank feeds in march and havent heard anything back form reckon. I just need to know If I am doing it right or need to do something different. I did it again online in bank preferences but I am still not sure if it works. What should I be doing. I have tried to follow the directions in comunity but am lost
Photo of Jim Smith

Jim Smith

  • 342 Points 250 badge 2x thumb

Posted 1 year ago

  • 1
Photo of John G

John G, Information Support Analyst

  • 27,280 Points 20k badge 2x thumb
Hi Jim,

Thanks for asking.

Firstly, have you purchased a bankdata licence?  Go to bankdata.reckon.com, click Activate and enter your hosted credentials.
Next, enter your bank account details by logging into bankdata.reckon.com, (your credentials will be the same as your hosted credentials) and click on Add Feed.  (No need to follow instructions to download forms or go to the Westpac website).

A video guide is available here.

Once you have done that let us know and we will link your bankdata record to feeds we have received for the accounts you specify.  


regards,
John.
Photo of Jim Smith

Jim Smith

  • 342 Points 250 badge 2x thumb
Thanks John.  I read on one of the setups that you had on this sites that if you have a Westpac bank account (along with about 12 other banks) you dont have use bankdata, you can get it directly.  Is that correct? or do I have to use bankdata??
Photo of Jim Smith

Jim Smith

  • 342 Points 250 badge 2x thumb
If your bank is any of these: i. ANZ ii. St George iii. Westpac iv. Bank of Melbourne v. Bank of South Australia vi. NAB vii. CBA
You will be directed to apply for a Direct Feed from your bank.
 
For all other banks, financial institutions and Credit Cards, we will be having a third-party integration with Yodlee (Coming Soon).
 
Photo of John G

John G, Information Support Analyst

  • 27,280 Points 20k badge 2x thumb
Thanks for the feedback Jim.

BankData allows you to connect to your bank accounts in one of two ways:
  • a secure "direct" method to a number of major banks where the bank sends your transaction information directly to Reckon for distribution to your BankData record - this method requires you to complete a bank authorisation form;
  • a more flexible method provided by Yodlee Inc that uses their web-based processes to extract transactions from your online account with the bank - this system requires you to give Yodlee your bank online credentials.  
With the direct method, ANZ and Westpac customers have the option of completing their signup with the normal paper-based method of completing a bank authority form, or on the bank's website.  Completing the signup online will result in a faster approval.  

Credit Card accounts can only be accessed via the Yodlee option (one exception is the ANZ Business One series credit cards).

Major banks with direct feed option can also be accessed through Yodlee.  

You do not need to use BankData to import your bank transactions as Reckon Accounts allows you to import a file of transactions you can create on your bank website in the QIF format, through Banking > Import Bank Transactions.  

Hope this helps to clarify your options.


regards,
John.
Photo of Jim Smith

Jim Smith

  • 342 Points 250 badge 2x thumb
Thanks John, finally got it working, only took 2 weeks and 2 hours!!
Just wondering If you can help me on what the point of this bank feed stuff is if it doesn;t automatically remember transactions, And what is a rule, I have tried my best to find videos and whatch them but this seems all like a waste of time and I should just continue doing It mannually.  Any help or honesty if its no good would be great.  So far I feel as If i've just wasted my time, cheers

This conversation is no longer open for comments or replies.