Open Banking/ Online banking for UK banks
Does this software support online banking/open banking for UK based banking institutions?
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1 Posted by derekkent23 on 27 Feb, 2022 04:20 PM
I am not support staff, just a user.
Hi Rudy
I hope support will reply to your post with up to date, but until then this is what I know.
Sean the Moneydance developer has allowed me to beta test the version of Moneydance+ using the third party Plaid, that includes UK Open Banking.
I can only do limited testing as I have only one bank account and two credit cards.
My bank works perfectly with Moneydance+. Click Download in the Moneydance register and transactions download. There seems to be only a delay of a few hours from a transaction appearing on my on line account and Moneydance+ being able to download it.
I have two credit cards. They both have the same issue.
I manually add transactions to Moneydance as they occur. At the end of each month I download a OFX transaction file from my on line account and import into Moneydance. This works well, my dates, the dates on my online account and in the OFX file all line up. However when I use Moneydance+ the transaction date is always the next working day. A purchase say on a Friday ends up with Monday’s date at odds with the date I manually enter, in my online account and in the OFX file. Talking with Sean it appears to be that a credit card issue. However in the last few day I took out another credit card and although it only has two transaction on it I am getting the same results as my main card. Whatever the reason, although Moneydance is very convenient for my two credit cards I can’t live with the date issue but will continue to use it for my bank. Others may not find the date issue a problem and the issue may not exist with all institutions. Time will tell as other try the service in the UK.
Although I have asked Sean when the UK will be made available for general use no date has been given.
You can however sign up to a free Plaid account, not using Moneydance and test connecting to UK banks.
Create a free account here: https://my.plaid.com Click the link to Add Account. You get the same signup screen as Moneydance+. See if your Banks are listed. At this point you can back out and exit. Not actually signing into your bank.
Hope this helps.
Support Staff 2 Posted by Maddy on 28 Feb, 2022 02:01 PM
Hi Rudy,
I can see you’ve received a reply from one of our knowledgeable Moneydance customers and it appears you’ve been given some useful information. Also, I've flagged this thread and you will be notified as soon as this feature will become available.
I hope this information is helpful. Please let us know if you have further questions or need more assistance.
--
Maddy, Infinite Kind Support
System closed this discussion on 30 May, 2022 02:10 PM.