Two days ago we announced that customers with business current accounts with RBS or NatWest would be migrated to direct feeds, and that although this would be free for twelve months for people with existing Yodlee feeds, that ultimately there would be a £3.50 per month charge per RBS or NatWest business current account.
We believe that direct feeds provide better reliability, and that having a direct relationship with RBS and NatWest will give customers more assurance that the feed will continue to be available long-term. However we have been listening and we have taken on board the feedback and agree that you should have the choice between the feeds provided by Yodlee, and the premium feeds that are available directly from RBS and NatWest.
If you are happy to continue with the Yodlee feeds for your RBS or NatWest business current accounts, you do not need to do a thing, your feeds will continue as normal. If, however you would like to switch to the additional assurance of a premium feed, please review the instructions for NatWest and Royal Bank of Scotland in our Help Centre to begin the process of putting the more reliable feeds in place.
Whether you’re a new customer or a customer who already has a feed, we will offer the two alternatives in parallel so that you can make your own decision as to which feed you would like to use. With the direct RBS and NatWest feeds, your statement transactions come direct to us from the Bank, authorised by your signed authority placed with the Bank. There is no third party involved, and you do not need to provide your RBS / NatWest online banking security credentials to set up the feed.
Thank you for all your feedback over the last few days. It is essential that Xero provides customers with the best service possible and although we believe that feeds provided directly by the bank are more reliable and that there is a great deal of value in that, we accept that for some, cost is a consideration so we are pleased to give our customers the choice of source for the data feeds. We really do appreciate all your comments and thoughts. Your passion has made all the difference.