OpenBanking

John L Stringer's Avatar

John L Stringer

14 Nov, 2023 10:27 AM

Dear MoneyDance,

Thank you for an excellent product. The only thing stopping me for recommending you to everyone is the lack of connection to UK banks. I even started subscribing to MoneyDance+ when I read it was coming soon but I think I have been paying for nothing. What are your plans?

As a short-term solution I am connecting to all of my banks using Money Hub. I can then download from Money Hub with a csv file and import it into MoneyDance. A bit of a faff but better than manually entering all of my transactions.

I did wonder whether a quick solution for MoneyDance was a partnership with Money Hub. An integration that allowed MoneyDance to talk to MoneyHub and import any new transactions. You could both bring customers to each other. Or customers could pay a subscription for the service that was split fifty fifty.

Anyway, would be grateful if you could let me know how long until you can use open banking for British banks.

Many thanks,

John.

  1. 1 Posted by dwg on 14 Nov, 2023 12:06 PM

    dwg's Avatar

    I'm a fellow user and can provide at least some background.

    Plaid is the aggregator that is used for North America. A lot of testing was done with Plaid for U.K. based customers, by a small group of testers, and while the testing has been successful Plaid have turned out not to be a viable partner outside of North America, plus their country coverage is quite limited further questioning if they would be the right global partner for software that is sold world wide.

    The developer has been investigating other providers, unfortunately it seems from feedback provided that some are reluctant to partner with a company that is not U.S. based or least has a significant presence in the U.S.. Moneydance is domiciled in the U.K..

    As I understand it investigations are continuing and with the current position I do not see any sort of time frame could be given for being able to provide support outside of North America.

    In the interim the only realistic recommendation that can be provided is to download transaction files and import those, with OFX/QFX being the first preference, QIF the next and CSV a distant third given their general nature and inability to import into Investment Accounts.

  2. System closed this discussion on 13 Feb, 2024 12:10 PM.

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