UK Banks
Does this app sync transactions automatically with uk bank accounts? Specifically NatWest and Starling.
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Support Staff 1 Posted by Maddy on 08 Jan, 2025 05:29 PM
Hi,
Thank you for contacting Moneydance support.
Unfortunately not!
Currently, we are looking into alternatives, and we're trying to get UK bank connections available via a different service than Plaid.
Please be assured that getting UK banks included in Moneydance is a very high priority for us. I can't provide an exact time scale for when this will be available. I have flagged this discussion, so we can notify you directly when UK bank automatic downloads are available.
In the meantime, you should update your accounts by manually downloading files from your bank's website.
I hope this information is helpful. Please let us know if you have further questions or need more assistance.
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Maddy, Infinite Kind Support
2 Posted by Ian Brewer on 27 Jan, 2025 10:17 AM
Hi,
I've been using MoneyDance for probably getting on for 20 years, and for as long as I can remember there has been talk about better integration with UK banks, but all I seem to see is that this is ongoing development. I've recently started my own company and use a product called FreeAgent for my company accounting. This integrates seamlessly in (near?) real-time with my Starling business account. This therefore suggests that UK banks (Starling at least) have the ability to support this, and yet it still does not seem possible with MoneyDance. Is this a feature that is likely to appear in the foreseeable future, or will it always be on the wish-list?
3 Posted by Stuart Beesley ... on 27 Jan, 2025 10:46 AM
It is possible and in fact md+ worked with U.K. banks in development mode/testing. But I beleive this was killed due to commercial issues. We understand that IK still have something on their radar.
(Not support, just a fellow user)
4 Posted by simon on 27 Jan, 2025 10:27 PM
Salt edge provides this to other bank apps so it’s very possible. Banktivity for one uses it. It’s great. The app looks lovely too.
But after 8 hours of trying in a trial to import 10+years of accounts the basic functionality is lacking.
It couldn’t cope with UK vs IS format inQIF imports. Or on auto downloads from First Direct.
It messed up share prices and couldn’t even access a table to update them manually, let alone choose which of their 2 providers to use, their default was wrong but backup had right price. Plus many other basic features I use in Moneydance.
So whilst MoneyDamce is lacking in automated connectivity and in look and feel, and mobile apps the functionality is what’s key.
5 Posted by simon on 27 Jan, 2025 10:30 PM
Meant MoneyWiz above.
6 Posted by dwg on 27 Jan, 2025 10:32 PM
I believe Salt Edge is one of the providers being considered for Moneydance+
Support Staff 7 Posted by Jenny on 29 Jan, 2025 07:28 PM
Hi all,
You are correct - including UK bank automatic downloads in Moneydance is something we've been working towards for a long time.
We've explored a number of options that ended up being dead ends. Around 2018, we were working on creating a secure feature in Moneydance that was similar to Web Connect. This feature would obtain transactions by scraping the web pages of each bank. Unfortunately, this feature couldn't be completed - the web pages of banks are not at all standard, and so scraping them all involves either a lot of time or a lot of money.
One of the main features of Moneydance is our absolute defence of your privacy. Until recently, we had planned to never use aggregators for transaction downloads. However, major banks let us know that they are moving away from "secure" methods like OFX and will eventually stop running their servers. After much consideration, we included optional downloads via Plaid as this service has the best privacy policy of all the aggregators we investigated.
If you haven't already seen it, I highly recommend reading through this blog post that discusses our position and our determination to maintain our customer's privacy.
I'm afraid we've encountered numerous problems getting UK and EU banks set up in Plaid, and our lead developer has determined that Plaid is not going to competently allow UK/EU bank downloads. At this time, we're trying to get UK/EU downloads working with other aggregators that have privacy policies we think are suitable. SaltEdge has been considered, and also another service called GoCardless (previously Nordigen).
I can't provide any more information right now, but this discussion has been flagged so as soon as we have an update about the inclusion of UK bank automatic downloads, you will be notified.
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Jenny, Infinite Kind Support