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AIB & Open Banking

  • 30-08-2019 12:51pm
    #1
    roots2branches
    Registered Users, Registered Users 2 Posts: 66 ✭✭


    Does anyone know anything about Open Banking, a way to connect bank accounts to accounting software?

    I've been using Wave accounting which is a free cloud-based solution but due to the new EU rules on banking security coming in next month the bank feeds will cease as they are not investing into Open Banking. Personally I'd of been happy to pay a fee but they've decided to do this.

    So I've been looking around for an alternative. I used to use Xero but I'm not paying €30 a month for it. I've found Quickfile which is UK based and they charge £60 a year and use this Open Banking service to connect. Just wondering if anyone knows anything about Open Banking and AIB or any other reasonable accounting solutions that can connect to my bank account?


Comments

  • #2
    wobbie10
    Registered Users, Registered Users 2 Posts: 120 ✭✭wobbie10


    I have recently lost my direct feed between AIB and Sageone software package.
    According to Sage the bank isnt ready for connection so not sure if changing software accounting packages will help.


  • #3
    roots2branches
    Registered Users, Registered Users 2 Posts: 66 ✭✭roots2branches


    I contacted AIB and they said software must be authorised as a third-party provider of Account Information Services by the Central Bank. At present, we have no agreement to work with any third party providers.

    So all bank feeds from all accounting software no longer work thanks to another round of ridiculous EU regulation.


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