Brought to you by

HSBC: Launching the next generation of bank feeds

Posted 1 month ago in Advisors by Julian Moore
Posted by Julian Moore

Together, Xero and HSBC are committed to removing points of financial friction for small businesses. As part of an ongoing move to give them more control over their financial data in a secure environment, HSBC has launched a new upgrade to their direct bank feed.

This new HSBC feed is the first of a new wave of bank feeds using Xero’s API. It uses an extremely robust connector that allows third parties (such as banks) to quickly and securely supply data to the Xero platform. 

Benefits of the new feed

The main benefit of the new feed is that it’s ‘set and forget’ which means set-up is a once only quick, digital process (see full details here) without repeated logins or the level of missing and duplicate transactions you may get with third-party feeds. It’s fully automated, driving practice and business efficiency. Accounting partners can now get multiple clients up and running with HSBC digital banking in minutes rather than days.

Setup your bank feed today

If you are a customer of ours, you can set it all up from within Xero itself. All you need is your HSBC login, and the whole process takes a matter of minutes. If you’re a joint customer and use the existing direct feed, you will have been automatically upgraded and notified of the changes  – the best of which is the price drop down to £1.50 per month.

Accounting partners can find out which of their clients can upgrade to this new direct feed straight away by checking out Xero Bank Explorer. You can find out more about this on our Xero help centre.

Rewiring small business finance

Despite now turning over £1.8 trillion in the UK, the small business market has historically been hard for larger financial institutions to serve. However, by working with Xero, banks such as HSBC are now able to provide market-leading digital banking services such as our new API-driven feed to the UK’s small business community.

HSBC is dedicated to supporting the UK small business economy. Over the past three years, the bank has invested £24bn in lending to small businesses and has more than a million customers in the UK. This collaboration between Xero and HSBC is a great example of a technology company and a large bank working together to help small businesses thrive. And when small businesses win, we all win.


Joseph Heenan
February 6, 2018 at 8.29 pm

Can you confirm how this new ‘real-time’ feed works please – I guess this means it always exactly reflects what I’d see in online banking? Confusingly your support pages seem to say it’s only updated once a day like the old generation feeds?

It’s disappointing to see Xero putting together new chargeable feeds when free feeds (including the ability to make payments and actually being real time) are already available in the UK and coming across the whole EU next year. Xero appear to be implementing bank feeds piecemeal with no clear overall strategy.

Julian Moore in reply to Joseph Heenan Xero
February 7, 2018 at 1.24 am

Hi Joseph, at the moment banking data is still transferred once a day, however, use of the API now allows a fully digital sign-up process, helping you get set up in a few minutes rather than days. Free Yodlee feeds are available for virtually all UK banking partners if that is your preference, but please note that the bank sets the price of the direct feeds, not Xero. Hopefully, the recent RBS, Natwest and HSBC price drops show we are working hard on your behalf on pricing – as well as the free Santander (Corp & Comm) and SVB direct feeds already available. We would love them all to be free! Also, behind the scenes please be reassured that we do have a very clear banking strategy, both working with key banks on an individual basis (we now direct feeds with 7 of the 8 largest UK banks) and at a market level on pricing, technology and user experience. If you have any more questions, please email me directly at Thanks, Julian.

Joseph Heenan in reply to Julian Moore
February 9, 2018 at 9.37 pm

Thanks Julian.

However I have to correct one point – you said “but please note that the bank sets the price of the direct feeds, not Xero”.

I have it in writing from HSBC that they do not charge per feed, and I have it in writing from Xero’s ban feed team that Xero are not charged by HSBC per feed or user. I do not know why Xero continue to claim they are not the one setting the price.

As I understand it, Sage take bank feeds from HSBC in the same way, and don’t charge their users.

Julian Moore in reply to Joseph Heenan Xero
February 10, 2018 at 2.11 am

Hi Joseph,
HSBC charges Xero rather than charge the customer directly; Xero then passes this cost on to the customer and we certainly do not look to profit from this arrangement. We believe that bank feeds are critical for SMB success which is why we are committed to providing free Yodlee feeds for all our UK customers. If our customers want a more robust solution (and many do) there are always the direct feeds which vary in price according to how much it costs Xero to deliver on a case by case basis. Hope this clears up the confusion?

Neil Holden
February 8, 2018 at 4.56 am

Any news on when Lloyds Bank in the Uk will have direct feeds, Yodlee is a problem at least once a week.

Julian Moore in reply to Neil Holden Xero
February 8, 2018 at 5.07 am

Hi Neil, we have been working with Lloyds for a long time, and are very aware that this is the last major bank without a direct feed in place. The likelihood is the second half of this year – apologies I can’t be any more specific, but there are a number of factors from different parties that need to be resolved before we can give our customers an accurate go-live date.

Leave a Reply to Neil Holden Cancel reply

Your email address will not be published. Required fields are marked *