Bank feeds that save you hours every week

Bank feeds are a secure, automatic way to get transaction data from your bank into Xero without you having to manually enter it.. Once you’ve connected your bank account to your Xero organisation, transactions flow into Xero automatically, ready for you to review and reconcile them.

In Australia, bank feeds operate under the Consumer Data Right framework, which governs how financial data is shared between banks and software providers. It ensures your data is protected.

Bank feeds save Xero customers an average of 5.5 hours a week by importing transactions automatically instead of requiring you to enter them manually. Because transactions come directly from your bank, you can be sure they’re accurate, which makes bank reconciliation faster.

And because bank feeds let you reconcile transactions in just a few minutes each day, you get an accurate, up-to-date view of your finances. This means your accounts are ready when you need them – no more rushing at the end of each quarter.

Xero lets you connect your bank accounts and get transaction data into Xero automatically with bank feeds. To see if an automated bank feed exists for your bank, sign up for a 30-day free trial of Xero and select Accounting > Bank accounts > Add bank account. Xero supports over 21,000 financial institutions worldwide.

To check whether your bank offers automated bank feeds, sign up for a 30-day free trial and go to Accounting > Bank accounts > Add bank account.

If your bank or financial institution doesn't yet offer Xero bank feeds, don't worry. It's quick and easy to upload a file of your most recent bank transactions instead.

Just export them from your online banking in OFX, QIF, QBO, QFX or CSV format, or download a PDF. Then upload the file into Xero – it should only take half a minute or so.

Setting up bank feeds in Xero takes just a few steps.

Once you’re registered for online banking with your institution:

1. Go to Accounting > Bank accounts > Add bank account.

2. Search for your bank and select it.

3. Follow your bank's authorisation process, where you'll be redirected to grant Xero read-only access under the Consumer Data Right framework.

4. Choose how much historical data to import – import up to 12 months of historical data when you first connect.

5. Transactions will start flowing into Xero automatically from that point.

If your bank isn't listed, use manual import instead. For detailed help, visit Xero Central.

Bank feeds automatically import transactions into Xero on a regular basis, so you can get an up-to-date view of your finances. The frequency depends on your bank and the type of connection.

If you need your latest transactions immediately, you can refresh Xero at any time via Accounting > Bank accounts. This pulls in any transactions that have cleared since the last automatic update.

If you're regularly noticing delays, check the Xero Status page or Xero Central for any bank feed disruptions affecting your institution.

Yes – there's no limit on the number of bank account connections. Set up as many bank accounts in Xero as you need, and feed in the transactions from any number of banks or financial institutions.

No matter how many business accounts you have or institutions you bank with, Xero bank feeds bring all your transactions together in one place to make managing them easier.

When you set up bank feeds in Xero, you can import historical transaction data, typically up to 12 months for most Australian banks and up to 2 years for some institutions, depending on what they support.

By importing historical data you get a complete financial picture from day one, which makes it easier to reconcile past transactions and produce accurate reports straight away.

If your bank feeds stop updating, work through these steps.

- Check the Xero Status page for any known disruptions

- Verify your online banking credentials are up to date and refresh your bank feed's multi-factor authentication (MFA) if needed.

- Try a manual refresh via Accounting > Bank accounts

- If bank feeds aren't working as they should, find a solution or workaround.

- Check whether your bank has updated its authentication requirements

If none of those steps resolve it, contact Xero Support or visit the bank feed disruptions article on Xero Central for specific guidance for your bank.

In the meantime, you can still keep your Xero records updated by using your online banking to import transactions manually to keep your accounts current.

When your transactions flow into Xero via bank feeds, you apply the correct GST rate to each transaction as you reconcile. Xero tracks GST as you go, ready for your BAS, reducing manual work and helping keep your records accurate.

Instead of tallying GST from bank statements each quarter, Xero tracks GST as you go, ready for your BAS. When lodgement time comes, you're already prepared. No last-minute rush.