When will Mondeydance+ support UK banks?
I've read the blog post and seen this part -
"..and we’re excited to roll it out initially for US and Canadian bank and credit card accounts, with EU, UK and investment support soon to follow."
which was written in October 2021. Is there any eta when UK banks will be added as i'm looking to use this functionality?
Many Thanks
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1 Posted by derekkent23 on 26 Mar, 2022 04:52 PM
I am not support staff, just a user.
Hi Steve
I hope support will reply to your post with an update, 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, which 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 online 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 online 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, recently I took out another credit card and although it only has two transactions 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 Ethan on 26 Mar, 2022 10:55 PM
Sean (our lead developer) has told me that Plaid has "come back for one more thing" that he's sending tonight, and that "it is supposedly really close now." I think we don't want to give an estimated date because this process has taken so long already, and we often have these back and forths. So, I don't really want to speculate any further, as I'll just be getting people's hopes up or making unrealistic promises.
Ethan
Infinite Kind Support
3 Posted by steve on 27 Mar, 2022 09:26 PM
Derek, thanks for letting me know your experience of beta testing the MD+ for UK banking and for the tip of checking out Plaid.
It would be good to know that my banks are supported, I use the following.
Monzo - Current account
Nationwide - Current account
Marcus (Goldman Sachs) - Savings account
Lloyds - Credit card
Barclays - Mortgage (not sure if mortgage accounts are compatible or not)
Hopefully these banks are supported and then i'll be in a position to subscribe.
Sean, thanks for the update. Hopefully not too much more back and forth and UK banking support is not too far away now.
4 Posted by derekkent23 on 28 Mar, 2022 07:43 AM
I am not support staff, just a user.
Hi Steve
I had a quick look at your list.
As far as I can tell these are supported:-
Monzo - Current account
Nationwide - Current account
Lloyds - Credit card
Whereas these are not as they are not Bank or Credit card type accounts.
Barclays - Mortgage
Marcus (Goldman Sachs) - Savings account
If you want, you can use the plaid link I provided and go all the way and login to your accounts to confirm they are supported. You can delete the login to your bank credentials you provide or as I did login to my bank account online, find the section on Open Banking and remove permission for plaid to link to my account.
Hope this helps.
System closed this discussion on 27 Jun, 2022 07:50 AM.