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Update on bank feeds for Xero Personal

Posted 6 years ago in Product by Alastair Grigg
Posted by Alastair Grigg

The introduction of automated bank feeds is a key and complex piece of work for the Xero Personal team and understandably it’s also high on the customer request list. We’ve made progress with laying the groundwork for the feeds over the last few releases and now it’s time to give you an update.

In May, the next Xero Personal release will introduce new categorisation or sorting logic, including improved user defined sorting rules. This will help get more transactions automatically sorted into spending or income categories. It will also ensure that the sorting function is then compatible with the style and format of transaction data that will come from the Yodlee data gathering service which is what will be used to deliver automated bank feeds into Xero Personal.

Once this release is complete, the final step for the Xero Personal team will be to connect the Xero Personal app to the banking integration platform. The banking integration platform manages all the automated bank feeds in the Xero small business accounting app – Yodlee bank feeds included.

Growing pains

Our rapid growth, including customer numbers more than doubling over the past 12 months, means the banking integration platform has been processing a large number of transactions. To accommodate this increase, we need to schedule some important improvements and upgrades. This work is already underway and will take another six to eight weeks. It’s important that this is completed before the banking integration team can then connect Xero Personal to the Yodlee based bank feeds.

While growth is a great problem to have it will mean a bit of a delay to our targeted release date for more bank feeds into Xero Personal. We were working toward May, but we’re now targeting Q3 (July-September) 2012. Rest assured we’ll let you know the actual release date nearer to that time.

We know this is frustrating for those of you who are very keen to have the added convenience of bank feeds. But what it does mean is we can fit in another release with various other improvements across the app before focusing 100% back on the introduction of bank feeds into Xero Personal.

Update: clarified the target date for bank feeds as Q3 (July-September) 2012.


April 10, 2012 at 9.21 am

Any update on updating the iOS app to support Xero personal?

April 10, 2012 at 9.39 am

What does that mean for NZ users. Is Yoddle Us only or worldwide including NZ?

Matt Vickers
April 10, 2012 at 11.15 am

@Jono – A mobile app for Xero Personal is still a way off but it’s something we’re very keen to do.

@CJ_NZ – When automatic feeds are implemented in Xero Personal, they will be available in one form or other for most New Zealand banks, and thousands of other banks worldwide. If a feed is available in Xero, it will almost certainly be available in Xero Personal too – though feeds that are provided by partner banks in Xero may instead be provided by the Yodlee data gathering service in Xero Personal.

Mark Burton
April 10, 2012 at 11.22 am

Do you support FNB in South Africa?

Matt Vickers
April 10, 2012 at 11.43 am

@Mark – We can’t confirm which feeds will be available until shortly before the release, as the list of available feeds changes constantly. FNB currently appears to be working for a good number of Xero Business users – if that remains the case then it should eventually be available for Personal too. It’s really too early to say though.

April 10, 2012 at 1.14 pm

Is that correct 3rd quarter of FY13 or do you mean the 3rd quarter of FY12?

April 10, 2012 at 5.09 pm

Does this also mean you will be fixing the broken Yodlee feed issue that has been around since last July. You know the one where we receive multiple copies of transactions and makes the feature totally unusable for us. We keep getting told it will be fixed soon.

April 10, 2012 at 8.28 pm

Over promising and under-delivering = FAIL.
I had held off using Xero Personal for the last couple of years due to lack of development and in particular bank fees. The talk was that function was to be in by March/April so I signed up and shifted from my MS Money system which I had been running for 7 years just fine. Now another 6 months for that function to be implemented I don’t hold hope on that timeline either. You talked about implementing bank feeds all the way back in 2010………………

April 10, 2012 at 10.25 pm

When you say 3rd quarter of FY13, who’s financial year? NZ’s, AUD’s, USA’s?

From my understanding:
NZ: 3rd Quarter FY13 is Oct to Dec 2012
AUD: 3rd Quarter FY13 is Jan to Mar 2013
USA: 3rd Quarter FY13 is July to September 2013.

Which one?

You would be much better of saying the months / year, like October to December 2012, if this is really the case?

Sara Goepel
April 11, 2012 at 1.03 pm

Xero Personal needs the bank feeds team to make feeds available to the Xero Personal product. They have begun work on this and aim to be done within a few months. Xero Personal will be working alongside them where possible but they will still have some work to do once the bank feeds team have done their part. Our estimates currently put delivery of feeds for Xero Personal in Q3 of this calendar year, i.e. July to September.

Wayde Christie
April 12, 2012 at 11.46 am

I’m at the point where I’d like to cancel my personal account and ask for a refund. There have just been too many delays with bank feeds, and as such I’ve completely stopped using Xero Personal because it’s simply far too time consuming to use.

I started getting on top of my personal finances when I first began using Xero Personal, which was fantastic. But after rapidly losing interest because of the punishing manual importing of bank statements, I’m sad to say my personal finances are back to a state of disarray. My business finances are absolutely perfect however, and all because of the automatic bank feeds.

I think I’ll just pretend Xero Personal doesn’t exist until if/when automated bank feeds happen. I hope that’s *not* what Xero are doing, but it certainly feels that way.

April 13, 2012 at 12.45 pm

Do you support ABSA bank?

April 13, 2012 at 3.40 pm

I gave up on Xero personal a long time ago. I actually use the business edition to monitor my personal finances. I found it was worth paying for to get the full functionality.

Matt Vickers
April 16, 2012 at 8.46 am

@andy – Xero currently has feeds from ABSA, but it’s too early to say whether they’ll be in Xero Personal.

April 16, 2012 at 5.45 pm

My wife uses Xero, but without bank feeds the Xero Personal rather useless. Whilst waiting for XERO to respond on a help issue (took them a day), found ANZ Money Manager – owned by a bank, its free, works with huge number of banks (not just ANZ), and its free!

Steven Heather
April 18, 2012 at 5.54 am

Are Xero going to release their API for Xero personal?

Sara Goepel
April 18, 2012 at 2.22 pm

@Steven- No immediate plans for an API, but would love to know what you’d like to see in a Xero Personal API. Let us know your thoughts in the community

April 19, 2012 at 12.41 pm

Thanks for the update guys. Can’t wait for this! Although I have got manual importing down to a fine art… could probably do it with my eyes closed now 🙂

May 1, 2012 at 2.02 pm

Thanks for the update – I can’t wait! Manual is ok for now, but automated will be awesome.

Keep up the good work guys, you’ll get there 🙂

May 14, 2012 at 6.14 pm

Are you still on track for May update for Xero Personal. For the user defineable rules and sorting?

Alastair Grigg in reply to Nish
May 15, 2012 at 5.27 pm

Hi Nish, we’re almost there with the next release which covers improvements to user categorizing rules, however it looks like it’s going to happen in early June now.

Matthew Byrne
June 7, 2012 at 4.14 pm

Any update on the bank feeds for Xero Personal? Still on track for the June release?

Ramsay Bell
June 17, 2012 at 2.19 am

Yes, is there any update on a release date for Xero Personal Bank Feeds?

Sara Goepel
June 25, 2012 at 3.29 pm

@Matthew and @Ramsay: Yes, we’re working hard on them now and are still aiming to release in the July-September quarter.

July 16, 2012 at 5.46 pm

Will my banks (Westpac and Kiwi) be available for auto bank feeds in the upcoming release (Q3) for Xero personal?

July 25, 2012 at 4.33 pm

Like most people commenting here, still hoping for Xero Personal Bank feeds. We’re well into the July-Sep quarter now (that was meant to be 2012 wasn’t it???). Are you still aiming to achieve that PROMISE?
I’ve been waiting since launch day to use Xero Personal, but not interested until the live feeds work (ASB and its subsidiary Bank Direct in my case).

August 1, 2012 at 11.47 am

Any updates on the progress of the bank feeds? Feels like we have been waiting forever.

August 4, 2012 at 8.36 pm

Goodness people! Manual transactions aren’t that big a deal, I do them weekly and seriously you are sweating the small stuff if it’s getting you that riled.

August 14, 2012 at 11.41 am

@kelly, the discussion is about automation and when it will be available, not how smart people are by doing it manually, well done mate.

August 24, 2012 at 9.32 am

@Xero, any update on timeframes? September next week.

January 31, 2013 at 9.15 pm

Is it possible to access xero personal on the android mobile app?

Matt Vickers
January 31, 2013 at 9.48 pm

Hi @Nat – no, Xero Touch for Android does not currently provide access to Xero Personal.

May 9, 2013 at 11.38 am

Just now realizing that Xero for mobile does not include access to Xero personal accounts. That seems entirely ridiculous! Come on Xero team… this is reason enough to look for another online financial management tool. I thought it would be great to have business and personal finances in the same system, but both need to be mobile enabled. This should be easy for you folks … you already have the app done!

Thus far quite happy with Xero for business. Hopefully Xero for personal can be mobile enabled soon.

Is this soon to be released? In the near-term pipeline?

Matt Vickers
May 9, 2013 at 7.26 pm

Hi @DMN – Xero Personal for iPhone is nearing completion. We’ll be posting an update very soon. It’s looking great.

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