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Winding down Xero Personal in November 2014

Posted 7 years ago in Product by
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We wanted to let you know we are discontinuing Xero Personal at the end of November next year. We know that is 14 months away but we wanted to give everyone plenty of warning. We are sending an email and messaging in-app to all Xero Personal customers.

[UPDATE After reviewing a range of options, we’ve arranged a great deal with PocketSmith. If you are a Xero Personal customer and sign up with PocketSmith by 31 December 2013, you will get the first 12 months at half price (NZD$59.95 vs $120). PocketSmith has live bank feeds (except for BNZ at the moment), as well as features you’re used to such as a handy calendar view, cashflow projections and flexible budgeting. You can get your data across to PocketSmith in minutes with their Xero Express process. Find out more.]

Joel Hanna PocketSmith Tweet

We’ve seen huge growth in the number of customers using Xero’s core small business accounting and accountant’s tools. Unfortunately, by comparison only a small number of people are prepared to pay for an independent personal financial management tool.

Considering this, we reviewed the resources involved in developing and supporting Xero Personal compared with putting this resource into our business offerings. We then made the difficult decision to wind down the ongoing development of Xero Personal and shut it down on 30th November 2014.

On 30th September 2013 all annual subscriptions to Xero Personal at that point will be automatically extended from their expiry date until the service close down date at the end of November 2014, for no additional charge. Unless you receive a notification that you need to renew your current annual subscription prior to the 30th of September there is no other action you need to take to continue using the product through until the end of November next year.

If you are in trial and do want to continue using the product while it is available then sign up for an annual subscription before the 30th of September. This subscription will then be extended out until the end of November next year for no additional charge.

We appreciate this news will be a big disappointment for many of Xero Personal’s loyal customers, as it is for those Xero staff who have worked so hard on the product since it was first launched in March 2010.

Over the coming weeks we will send to our customers more updates on the wind down plan, information on how to get your data off Xero Personal before it is shut down and any alternative personal financial management services that you may want to consider transferring to.

We know that many of you will be disappointed and we apologize for any inconvenience.

Happy to take reasonable comments and questions below.


Adam Fitzgerald
August 29, 2013 at 3.07 am

While disappointed (haven’t found a decent alternative) I understand the move and a good clarifying reply their Rod. At the end of the day, you’ve got to do right by the company and it’s long term goals.

John Selden
August 29, 2013 at 5.30 am

So many online PFMs have been shut down or EOLed over the past few years: Wesabe, Buxfer, Quicken Online, Adaptu, and now Xero Personal. Such a shame. I’ve been looking for a good online PFM so that I could switch completely over to my Chromebook, rather than having to continue running desktop personal finance software on my Mac.

Honestly though, after this sad string of service shutdowns, I think I (and anyone else) would be crazy to use an online PFM. The risk is just too high that the service will disappear.

Berend de Boer
August 29, 2013 at 10.29 am

@John Selden: as long as there are export options, people can still take their data elsewhere. Pocket Smith will no doubt have an import feature soon.

Obviously you lose a bit of time learning a different product, but probably not much different than when a company changes its UI. There are a lot of players in the PFM as probably this is something where many feel it’s easy to create a product, but as Xero Personal exemplifies: it’s harder to make money.

August 29, 2013 at 1.09 pm

@rod I appreciate you taking the time to feedback on the reasons why xero has made the decision to close XP – if the product isn’t making money then it isn’t sustainable. I get it.

I do wonder though if there could have been a 3rd way? If the cost of the bank feeds is the problem then I for one would be prepared to pay extra for that feature. It’s easily worth $20/month or so to me to save the effort of manually downloading transaction data every week. For those that don’t want to pay the fee just let them do it manually – I don’t see any compelling alternatives the XP in the market so I doubt people would be leaving in droves.

I wouldn’t expect any business to sell a product at a loss but given XP is now relatively mature and you have obviously invested a significant amount of your shareholders money to get it to this point it seems a huge shame to discontinue it essentially because it’s being sold too cheaply.

Surely a change to the charging model is worth a shot before a straight discontinuation – what do you have to lose?

Wes Dart
August 29, 2013 at 1.48 pm

I agree with Pete here — surely a change to the pricing model could be explored? I am really disappointed that this service is finishing. I have been telling all my friends about Xero Personal and I think some may have already signed up. I guess I looked at Xero Personal a bit like Apple TV — probably still in the ‘hobby’ stage, but a cool product none the less. Apple has still demonstrated their long term commitment to Apple TV even though the size of the market hasn’t been as compelling as the Mac or iPhone. Apple TV still gives them a seat at the table. Xero have given up a seat at the table and thereby decreased their credibility in my eyes. When someone eventually ‘cracks’ this PFM market Xero will find it much harder to break in.

August 29, 2013 at 2.06 pm

Extremely disappointing. The blend of business and personal Xero on an integrated platform was very useful and now what? I am very concerned that the users were not consulted at all. This worries me that at any time in the future at their whim, Xero could discontinue any aspect of any of their services, whether or not they have become important parts of peoples personal and/or business lives. Xero might not be big like Google, but they have exposed that they are prepared to use customer loyalty to test market viability and when viability is threatened, rather than try to sell, transfer, augment, re-price, etc, they just simply take the quitters route and discontinue the service .. and to hell with the customers! Very very disappointed.

Dave Rodley
August 29, 2013 at 5.23 pm

Can this replace Xero Personal
What I am asking the Xero team is a break in pricing for existing Xero personal uses
Ideal for freelancers and small property investors

August 29, 2013 at 5.40 pm

Thanks for the heads up, but really disappointed as I invested a fair bit of time on the product and was quite happy with it.

I find you guys may have found more customers should you have advertise the product. I only found out about it because the accountant pointed out. I had not noticed before and have been with xero for a couple of years.

you should give another go.

Jason Leong
August 29, 2013 at 6.11 pm

We’ve been watching the PFM space with interest since 2007, and it’s fair to say it’s a niche that’s taking its time to mature – in part because the pace of innovation in the area is reliant upon what core banking systems have to offer.

@John Selden, many of those PFMs raised money to capitalise on consumer sentiment post-GFC. As you’re aware, most adopted a narrow feature focus and offered a unique twist on top of account aggregation without a revenue model – perhaps hoping for a rapid growth in user numbers and a quick exit.

Xero Personal and PocketSmith are two of a small number of PFMs that adopt a pure SaaS model without relying on ‘cleverer’ means of monetising off our customer base, like cross-selling credit cards for example.

As such the space can be a tough one to make money in, particularly when the lion’s share of potential customers resides in the US, where Intuit funds a free solution in, skewing the market’s perceived value of a PFM. So we’re usually surprised when we hear of yet another startup creating a ‘simple PFM!’. The best of that breed already exists for free, so why would anyone pay for a close substitute?

Our strategy for growth is focused around offering a more comprehensive version of the basic PFM, and solving those tricky problems that the others don’t. It’s not rocket science, but it seems to be paying off: every month, we bring on board more ex-Mint users who have moved on from the free alternative to pay for what we have to offer. It means however, that we’ve traditionally served a subset of PFM users.

@Pete, our users range from those who have a base aversion to paying for a personal finance product, to those who have actively used their Premium subscriptions over the last four years. So our customers are certainly willing to pay for the right service, and our job is to simply keep our focus on them and listen to what they have to say. And we trust them to guide us – because, let’s face it, there aren’t going to be many competitors left to emulate 😉

We have a letter for Xero Personal fans here:

August 29, 2013 at 6.37 pm

@Pete – yes, really good point. How can sites like myprosperity do all the bank feeds and categorisation for free? There must be other ways of making Xero Personal viable?

August 30, 2013 at 10.09 am

As a BNZ customer I didn’t have access to bank feeds from my other banks or the new mobile app and I’m still happy to use the product with manual uploading. Couldn’t this option be kept on?

August 30, 2013 at 10.55 am

Very disappointed, am using the free trial and it only took a day before I decided I loved it… was going to pay the fee straight away but thought it best to wait until my 30 free days were up (lucky I did). I was also raving about it to all my friends, feel stupid for doing THAT now… such a shame

August 30, 2013 at 11.24 am


1. can Xero for business be used for personal finances?

2. If not, can you recommend alternatives to Xero personal

I loved your product and have a need its just that the business accounting solutions are of course overly complex for an individual’s finances. What was so nice about Xero personal is that it was simple and you didn’t need to know complex tax rules etc, etc. But if your company and indeed others can get a good return in this market, then it leaves the consumer who needs such a solution turing to the business editions. Can your business edition be tailored for personal use? And if so is there any information or documentation or advice on how best to do this (ideally without using an accountant)?

Thanks in advance for your response

Peter G
August 30, 2013 at 4.02 pm

sad to see xp go but appreciate the notice. tried out and was suprised at number of features compared to xp. looks like same bank feeds as xp but property, car and asx feeds as well

August 30, 2013 at 6.38 pm

If the bank feeds killed the business case, then why not just charge per feed?
Maybe one feed included, then an extra $5 per additional feed.

August 31, 2013 at 11.32 am

This information should be on your main page… I.e. stop freaking advertising for people to start using this product if you plan on discontinuing it in a year. I just wasted 2 hours of my life, trying to work out how it works and how to use it, decided that it was a worth while product – (Almost bought it, and then I found this). I would have been more than happy to pay for a full subscription to the personal version, however, there’s no point if it all ends in a year.

August 31, 2013 at 9.31 pm

Really annoyed that xeros discontinuing! I went to check out but it only seems to work for US customers. Myprosperity is a really good alternative for aussies!

Gayle Buchanan
September 2, 2013 at 10.22 am

High 5, takes great courage to close down any part of a business that doesn’t deliver the core focus – thanks for the reminder btw

September 2, 2013 at 9.18 pm

I am quite disappointed with this decision, other personal solutions like mint, pocketbook requires unselling to other services.

John Keane
September 3, 2013 at 2.59 am

Hmm, disappointing, and a bit of a shock (given that recent release of iOS app (which is super) seemed to indicate that it was live and kicking). But not that much of a surprise all told, given that Xero’s focus is on the business side.

General consensus here seems to be:

* Business users – I’m glad you’re focusing on me
* Personal users – I’m disappointed you’re not focusing on me, Xero Personal was the best thing I’d found, and I’d have been happy to pay more (or to have less – even without automated feeds, this works well for me)
* Rod/Xero – it’s easier for us to make money out of business users than personal users, so we’re focusing on business users

That’s all fair, and absolutely reasonable that Xero should be trying to make money.

It’s a shame that they couldn’t make Xero Personal work though — I was delighted when it was born, because there simply aren’t any personal finance management options available in the UK (or at least there weren’t) – I switched to Xero Personal from MS Money 2000!! And I had faith that Xero could make it work, and had a higher objective of making financial management accessible to normal people – whether they’re in businesses and using Xero Business, or managing their own finances. Shame.

The 14 month wind-down period is generous, and appreciated, and I look forward to seeing what other options become available from other suppliers. I’ve already signed up for a free account on Pocketsmith to try that out.

Here in the UK, individual banks (and credit card companies) are trying to tie us into their own platforms with mobile apps and automated categorisation of transactions in their own online systems. I’m fearful that this is the way of the future: I’d much rather have my long-term financial reporting be independent of my banking provider. But I’d speculate that it’s this aspect of the economics which means that the bank charges for automated feeds make the space tough for independents.

Corrin Lakeland
September 3, 2013 at 10.20 pm

Please mention this on the Xero Personal site. I reviewed it some time last year and concluded until bank feeds it wasn’t viable. I tried it again yesterday and was in the process of really getting set up when I came across the EOL announcement. Had I seen just at sign-up that it was already scheduled for EOL I would have not bothered and saved myself some time an hour or two.

PS: I have no problem with the decision to discontinue it. My preliminary assessment was that unless you invest heavily then your competition will be a better choice for me. Also I strongly approve of the long announcement window – that gives me more confidence in your approach as a company.

September 4, 2013 at 2.14 am

14 months notice whilst a nice long lead time is still 14 months away from not having a viable alternative. I understand you expected to receive some negative responses so I’m providing you my negative response. I found the personal product reasonably priced and would comfortably pay more.

Was there any thought to product going into support but no development mode? If IP already exists and I’m assuming infrastructure is shared between business users, what is the negative in having a product continue as is?

I spent multiple weeks manually editing split transactions I exported from Quicken Australia version to make them work in Xero.

So VERY disappointed.

September 5, 2013 at 12.47 am

My Mrs tried Xero Personal as we use Business, she gave it a good go as we were keen on a SaaS solution but ended up reverting to a very old version of Quicken! We couldn’t even see how to schedule a repeating bill, perhaps we just didn’t get the best out of it but basically we didn’t think it was any good. That’s probably why the take-up isn’t as good as would be needed.

Fingers crossed the team working on Personal will help the Business team get some missing features out the door now, how about a working UK VAT system (when purchasing in the EU) and purchase orders! (please!)

Mike Block CPA
September 5, 2013 at 3.51 am

Here is the fastest, easiest and least expensive upgrade from Xero Personal to the far better Xero Cashbook. It will be essentially free until June 2015. Here is why.

Xero Personal users will save $3 a month from September 2013 to June 2015 ($66 total). In December 2015 (sooner if you wish), we will help you start using the far better Xero Cashbook, with 2 free months. Only after that will you pay the Xero cost ($12 a month). It will not be until June 2015 that this uses up your Xero personal savings.

We will do this so you can see the terrific extra 0CPAs time and money savings (automatically save all entries, far better automatic rules and much more, including big tax savings).

September 5, 2013 at 8.36 pm

Disappointed and hope I’ll be able to find something that will replace.

September 10, 2013 at 10.37 am

This is a classic “cloud risk” scenario – give up your software freedom to someone else and this is inevitable. I’m sure Stallman would have a field day with this. Back to GNUcash for me then :-/

Adrian Shiel
September 10, 2013 at 4.50 pm

Not surprising as Xero Personal never really cut the mustard. I use and recommend Xero Business to a lot of SME’s but have never been able to recommend Xero Personal.

I know it isn’t cloud based but I still use MS Sunset edition of Money and I know quite a few of the people coming to the Xero site would have moved across if it had more of the features of MSMoney.

Natas Porter
September 10, 2013 at 5.17 pm


although im disappointed to hear that you guys will be EOL ing Xero Personal, i do see an opportunity presenting itself..

as i think its still a very good product with alot of legs left in it..

are you interested in selling or licensing the codebase for Xero Peronal.?



September 10, 2013 at 6.29 pm

We just start using Xero Personal + Xero Accounting and after get use to new system we got news about winding down Xero Personal. I’ve read some comments and I think Personal accounting need time and I hope XERO got budget to keep running this apps, but as I said to hotline need work a bit about functionality for Xero Personal on Apps to be more useful especial with placing bills into system on to go. We will pay today for annual subscription and we hope we can use Xero Personal after 2014 nov. Thank you guy, don’t give up with great products just keep going!

James Carrington
September 11, 2013 at 9.33 am

So disapointed to lose Xero. I’ve tried alternatives and so far have had no luck – the bank feeds on Xero was the biggest pull for me.

Does Xero personal not offer another stream of potential business customers? (customers who might upgrade some day)

Was there no chance of just increasing the subscription price? I’d have gladly paid a little more.

September 11, 2013 at 3.44 pm

Hi Rod

I’ve read most of the above comments with interest. I have been a Xero Personal customer for about one year. I am not a Xero Business customer. I am obviously disappointed in your decision. The goodwill I had for Xero (because it was and is a perfectly good product for my purposes) is now gone. You have failed to address some of the points above in your responses, namely:

1. whether you could provide an option to keep Xero Personal going without the bank feeds (this would be far preferable than stopping Xero Personal completely);

2. why people who have recently signed up and gone through the expense of learning the system, creating categories and rules, etc. should not be refunded. That is blatantly unfair on those people (I am excluding myself in this regard); and

3. the extent to which consideration was given to increasing the cost and/or dropping bank feeds to increase profitability.

I disagree that proper marketing of Xero Personal was undertaken. I regard myself as fairly financially and technologically savvy but had only in the last year come across your product. What marketing was actually undertaken?

Fundamentally, the fact that you’re willing to drop a product in this way has guaranteed that I will never sign up for a Xero product in my lifetime, nor will I recommend anyone to do so. I am so frustrated by the substantial time and effort that I’ve spent working with Xero Personal, and annoyed that I’ll have to waste that time and effort again working with whatever replacement system eventuates.



Rod Drury
September 11, 2013 at 4.45 pm

Hi Daniel, I haven’t responded in a while but will comment on yours as you raise some points that others probably feel.

I’ll reiterate. This is a resourcing issue. We got doing a personal product wrong and it was tying up valuable resources that affects the vast majority of our customers.

So we made the hard decision to close XP down. Keeping it open is not an option but to show that we do care for all our customers we provided a very long notice period which gives us time to gracefully provide another option or for customers to move off.

To your questions.

1. No just keeping something running ties up resources and the product becomes less competitive and would generate more frustration. A clear signal that we are not investing further seems better. In the cloud we think a PFM should have automated feeds and we don’t like having a subpar product out there. It’s just not us.

2. The software is going for the next 12 months. Refunds are hard for any business so we decided to continue providing the service for at least 12 months.

3. Regardless, PFM’s are a hard model and do not create enough margin for us to invest in. We have to be responsible.

4. As explained we did a lot of direct marketing with partners which is far more effective than random marketing you would normally see. The response rate was not where we would need it to be and so it would be irrational to waste money on other types of marketing.

5. I think our willingness to be open about getting things wrong and sticking to our core (accounting software for small business) is a good sign to current and future customers. But completely understand how this would be annoying to you.

We’d love to make everyone happy. We can’t. We think we’ve done the right thing.


Tom Castleman
September 12, 2013 at 2.52 am

Hi Rod,

Like many small businesses we have a significant number of business expenses paid with personal credit cards. To this end across 2 Business and 3 Personal subscriptions we make extensive use of the Xero Personal “Business Expenses” transaction category and the submission into Xero Business for processing and repayment. Obviously we can continue with this for 14 months however in advance of this we need to either:

1) find a replacement PFM which facilitates this or an equivalent workflow, or

2) you mentioned you would be beefing up the expenses management side of Xero Business which would perhaps offer a replacement workflow?

I’d be very interested to hear what Xero have in mind for 2).

Also whether any one else has any suggestions for 1) – Receipt Bank is an option for a receipt centric workflow, however we have a personal bank statement centric workflow.

Xero Business is an awesome product and I look forward to future developments here. Whilst I have been using Personal for years as a submission tool into Business for expenses, its other features have never quite cut it. I understand this decision and appreciate the openness.


Saul Brown
September 12, 2013 at 2.21 pm

I’m disappointed by this news. We’re using Xero for our business and wanted to start using the personal version too. This is too bad, hopefully someone will pick it up and keep this going.

September 13, 2013 at 12.58 pm

I’ve started using and it’s been easy to learn and has all the bank feeds. Well worth a try.

September 17, 2013 at 1.20 pm

Thank you for your prompt reply Rod. We will agree to disagree. You’ve probably done the “right thing” by your shareholders, but not this particular customer. It is refreshing to see a CEO of a publicly-listed company take such an active interest in, and respond to, customer comment; for that I am grateful.

September 19, 2013 at 4.13 pm

Just make it free, please. I hope you get more business partners, Xero so you can offer Xero Personal for free. Many will use it, I’m sure. I really love this as oppose to Mint since I can’t even use Mint due to the fact that I’m not in USA and therefore have no american bank account to connect there.

September 23, 2013 at 2.31 am

They cannot make it free for obvious reasons. It’s a shame that such a seemingly popular service is being dropped but Rod is absolutely right- it is not the core product for Xero. Other companies will quickly step in to fill the gap and Xero will be able to focus on doing what they do best!

September 23, 2013 at 9.58 am

How about creating a Micro version of the business plans. Such a plan would allow only the most basic functions, and remove invoicing and bills and employees, but would allow more reconciliations. Maybe AUD 9/m.

September 27, 2013 at 2.13 am

I get the decision to close down XP. I get it. What I don’t get is not giving refunds to people who purchased the product 2 or 3 days before the announcement. “Providing the service for at least 12 months” is great for users who are already entrenched and have to migrate to another system.but it’s another thing entirely to ignore the consumer who in good faith purchased a bridge to nowhere. What difference does 14 months make to the user who just started? Why go through all the effort of learning a system and setting it up, falling in love with it even, only to know the patient dies just as you get going? The 14 month advanced notice is an awesome and thoughtful thing for long time XP users. Justifying the same notice to users who purchased a week before the announcement? Well— there’s a word for that but I’m not going to use it here. There are many words, actually, and none of them are good. Anyone who purchased XP up to a month prior to the announcement should be given a refund. Yes, “refunds are hard for any business”. There’s also something called good will to keep disappointed customers on your side when you buy a live fish on Monday and it’s dead on Tuesday. Sure, you can leave the dead fish in the bowl for the next 14 months–but is that something anyone wants to do?
I’ve only started contemplating using Xero for my business in the last few days. It wasn’t even on my radar but I really like what I’ve seen. The loss of XP has zero effect on me. But not giving refunds to the users who purchased XP in the days prior to the announcement gives me pause. That’s not how I ever would want to be treated as a customer and now there’s a precedent.

Ed Henry
September 28, 2013 at 7.20 pm

Well, I have really only just come across this thread.
Like many I was initially taken aback. However, there is no use “crying over spilt milk”. Rod has explained very clearly the reasons why XP is being discontinued and as a reasonably new entrant in to the Xero eco system I can get completely why the decision to close was taken. For me I would rather have Xero company resources and dollars put into finishing off the core product with Purchase Orders, Quotes etc as has been outlined than investing in a “poor cousin” product.
Personally I have immediately moved to the non GST Cash book at $10 per month. That is peanuts when I can walk in to my bank manager and give him figures as of today showing my bank accounts agreeing with those on his screen, a complete income and expense statement broken down for shares, property and salaries earned from my company, together with a balance sheet of assets and liabilities – the first thing any financial institution will ask for when requesting funds from them, whether it be a company car, an overdraft or a another mortgage.
I can tell you he was impressed. XP would not have done that in the same way.
I can now also add in Sharesight and maybe Pocket Rent or Re-Leased.
All I can say is, join me, understand your product and promote the features that you may never have used otherwise. Think what the opportunities are not the so called losses. Half full glass, not half empty!

October 1, 2013 at 7.19 pm

Perfectly udnerstand the business need to shut down XP. You are a business, you need to make money. However, not giving refunds to people who purchased the product some days before the announcement doesn’t make sense. In my case, I bought the service on the 18th August. You did the announcement on the 28th August. You debited my account on exactly the same date of the announcement. I don’t believe it was a coincidence. Your customer service was very nice explaining there’s no refund. However, I still find it unfair. If refunds are operationally a mess, go through the mess anyway. That is the right thing to do.

October 2, 2013 at 1.50 pm

I am a little disappointed, I was looking forward to using Xero Personal. if you change your minds, let me know. I am willing to pay for it.

October 2, 2013 at 9.56 pm

I am really disappointed that I’ve just joined Xero Personal within the last month and nowhere was this mentioned on the website. I took lot of time to set it up, sent emails back and forth with your staff and still nobody mentioned this. Now, that I wanted to pay for it, I was told I can’t and it is going to be turned off form me on the 1st December 2013. “Glad” I put lots of hours into setting it up. Is there a way I could use it at least until Nov 2014 now to give me a bit more time to find another solution?

Also, I have been using Xero Business for over 2 years now for several clients and I never got a direct email introducing XP. If all of us using the Business version would have received a email introducing it, I am sure quite a few of us would have joined. To agree with everyone before me, I am happy to upload the statements manually as well (automatic bank feeds don’t work so I am actually doing them manually now and not a problem at all). If it could keep the service going that would be great. Thanks

October 9, 2013 at 1.49 pm

will there be a way to convert the personal to company without losing all the data?

October 9, 2013 at 9.03 pm

Rod – gutted to hear as this was a great product, flaws and all. But I think you’ve read all that many times over now.

I understand your business decision and that commercially you don’t want to pursue this market segment (I suppose it is a bit of a nerdy niche!)

BUT think you’re missing a trick here – what about all that goodwill and future customer base you’re turning off? You know people talk and people also like to spread hate.

Rod – be a hero and do something philanthropic! Get one of your marketing team to assemble a list of suitable alternatives (which of course you have if you’ve been analysing the market) and send this out to your disgruntled customers. That would at least appease us and leave us with a wee bit of warm love for Xero.

October 9, 2013 at 9.47 pm

How about offering a discount to the business software. If only a small percentage of XP users switch surely it’s easy revenue generated. I doubt XP users are heavy users so the resources required would be minimal.

I am heavily invested in Xero with business use so keeping it all in one place makes sense.

Please, please, please give a discount offer to existing XP users to the business plan so we can stay around. Even if it’s the same price as PocketSmith it would be worth it.

October 9, 2013 at 9.54 pm

Setting up xero personal as a separate code base was a poor decision, however closing it down without refunds and only because the banks insist on charging customers again for access to their own data is also a poor decision.

You could have setup up a personal service as a subset of the business code base, put your prices up, and passed on all feed fees from banks to customers as a separate charge while making it clear this charge is outside your control and customers should take it up with their bank.

Essentially the banks have scuppered profitability in the cloud based personal finance world by charging customers for access to their own data. Xero should be leading the revolt rather than giving up. Press releases along those lines would get you oodles of free publicity, at least in the UK, where bankers are rated only marginally higher than criminals, at best.

Now that would be customer service.

October 13, 2013 at 7.37 am

I’m not surprised xero personal has failed as it continually avoided the one key feature the vast majority of users wanted – automated bank feeds – an option they provide so seamlessly on the business side. They missed a trick and once cheaper (and in many cases) free alternatives arrived xero had blown their monetization opportunity for this product. The feeble attempt to add bank feeds recently (with only a few banks supported) while still hoping to charge customers was the nail in the coffin

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