Our terms of use for account information services

Last updated on 13 September 2022

Xero (UK) Limited is a company incorporated in England and Wales whose registered office is at 5th Floor, 100 Avebury Boulevard, Milton Keynes, MK9 1FH, and whose company number is 06071722. Xero (UK) Limited is registered and regulated by the Financial Conduct Authority as an account information service provider under the Payment Services Regulations 2017 (registration number 805806). Xero Denmark A/S is a company incorporated in Denmark whose registered office is at Kuglegårdsvej 7, 1434 Copenhagen and whose company number is 42690562. Xero Denmark A/S is registered and regulated by the Danish Financial Supervisory Authority (Finanstilsynet) as an account information service provider under the Payments Act (Lov om betalinger) (registration number 45513) and, for customers in Ireland, is also regulated by the Central Bank of Ireland for conduct of business rules. Xero (UK) Limited and/or Xero Denmark A/S are referred to as Xero, we, our, or us (as the case requires).

These terms of use for account information services (AIS terms) set out the terms on which we will provide account information services to you. When we say you or your in these AIS terms, we mean both you and any entity or firm you’re authorised to represent. If you would like a paper or PDF copy of these AIS terms, please contact us through Xero Central and we can arrange for these to be sent to you.

If you’re a Xero subscriber or an invited user based in the United Kingdom or the European Union who uses our account information services, then these AIS terms will apply to you. If you’re based in the United Kingdom, Xero (UK) Limited will provide our account information services to you. If you’re based in the European Union, it will be Xero Denmark A/S. In addition, our terms of use covering our online and mobile accounting and financial products and services (what we call our generalterms) will also apply to you.

If you’re wondering what some of the words used in these AIS terms mean (like ‘transaction information’ and ‘payment account’) check out the key definitions below. We also use some words that are defined in our general terms (like subscriber and invited user) – check out the definitions for those words in our general terms.

Account information services

1. What are they? As an account information service provider, Xero can, with your express permission, receive or access your transaction information from your payment account with a payment service provider in order to flow those transactions into your Xero account for simple and effective reconciliation. Once reconciled, the transaction information becomes consolidated information in your Xero account. We call this a bank feed.

2. How do I use them? If you wish to set up a bank feed and take advantage of the account information services Xero offers, you will need to explicitly agree to us receiving or accessing your transaction information and, if applicable, accessing your payment account using the authorisation or authentication method prescribed by your payment service provider. In some situations, you may be required from time to time to re-authorise us to access your payment account on your behalf.

3. How does Xero use your transaction information? Once we’ve retrieved your transaction information, we’ll import it into your Xero account and use it to provide services to you in the normal way, as explained in our general terms. The same applies to any consolidated information we create out of that transaction information. We’ll process personal data in accordance with our privacy notice.

4. How does Xero work with your payment service provider to access your transaction information? This is explained on Xero Central and will also be explained during the sign-up process.

5. What charges apply? We don’t generally charge a fee for the use of account information services. However, we may charge for other services that we provide to you – see our general terms for further information. In some cases, your payment service provider may charge their own fee for providing transaction information. Where that’s the case, the fee will either be invoiced by the payment service provider directly to you, or we’ll collect the fee from you and pass that through to the payment service provider.

6. How do I stop using them? To stop using account information services, you will need to actively disconnect Xero’s access to your transaction information. You can do this at any time, either by following the process prescribed by your payment service provider or by asking Xero to disconnect from your payment account(s). You can ask Xero to do this using the “bank accounts” section of the Xero product or by contacting us through support.xero.com. You may still use other Xero services without the account information services.

7. Accuracy: Any transaction information imported into your Xero account will be a reflection of the transaction information held by your payment service provider (eg, the information held in your online banking transactions). We aren’t responsible for any inaccuracy or incompleteness of this information.

8. Liability relating to account information services: For the purposes of these AIS terms, our total aggregate liability to you arising out of or in connection with any unauthorised disclosure of your sensitive payment data by Xero, where that sensitive payment data is used to commit fraud, is limited to two times the total amount you paid us for your subscription in the 12 months immediately preceding the date on which the claim giving rise to the liability arose. In all other circumstances, the liability limitations in our general terms will apply to the provision of account information services.

9. Communications relating to account information services: As a technology company, we prefer to communicate with you online, meaning we will:

  • communicate general messages with a notification on our website; and
  • communicate messages specific to you, including in the event of actual or suspected fraud, to the email address you’ve provided us through your subscription.

These AIS terms are provided in English and all information and notifications under these AIS terms will also be in English.

10. Complaints and redress: If you have a complaint relating to our account information services, please contact us through support.xero.com and we will do our best to fix the problem. For more information, you can take a look at our complaints process for account information services. If you’re not happy with our response, and are based in the United Kingdom, you may be able to refer your complaint to the Financial Ombudsman Service. If you are based in the European Union, please refer to the Financial Dispute Resolution Network for guidance about who you may be able to refer your complaint to.

11. Variation and termination: For information on how and when these AIS terms may be varied or terminated by Xero, see our general terms.

12. Governing law and jurisdiction: These AIS terms are governed by the laws of England and any disputes relating to them will be subject to the exclusive jurisdiction of the courts of England.

13. Definitions:

consolidated information means a form of information created using your transaction information, as part of the account information service.

payment account means an account that is used for the execution of payment transactions, such as a current account.

payment service provider means an entity which provides payment services as set out in the Payment Services Regulations 2017 (eg, a bank).

sensitive payment data means your information that could reasonably be used to carry out fraud, including your personalised security credentials (but excluding, in relation to your payment account(s), the name of the account holder and the account number).

transaction information means the information we access from your payment account(s) concerning your payment transactions.