The arrival of digital banking has given business owners much more choice when picking a business bank account. Sounds great, doesn’t it? That’s because it pretty much is. Especially now, as even more mobile-only providers can make use of our time saving Bank Feeds!
Wait, what are Pandle Bank Feeds again?
Bank Feeds connect user’s bank transactions to Pandle. By connecting your bank account to bookkeeping software, transactions are imported automatically. It’s safer and more efficient than users spending time and risking errors by entering transactions manually.
Using Bank Feeds to bring transactions into Pandle has always been hugely popular with our users. Not only do they free up time for other things, they also enable users to access real-time financial data, too. Now that’s a real bonus when it’s time for making important business decisions!
Introducing Bank Feeds for digital banking customers
We recently announced our new relationship with Plaid, which enables us to future-proof the speed and reliability of our Bank Feeds.
Sadly, with our previous provider we were limited as to which banks we could connect with. In turn, this restricted the availability of Bank Feeds to some Pandle users. Customers of the big high street banks could use the feature, but those using the up-and-coming challenger banks couldn’t connect.
Now that we’re working with Plaid though, that’s all changed. We’re glad to confirm that digital banking customers can now connect their bank accounts to Pandle, using our Bank Feeds feature. Welcome, welcome, come in out the cold, there are enough seats for everyone – phew!
Who are the challenger banks?
The ‘challenger banks’ are the new banking providers who are seen as challengers to the high street throne. Whilst high street banks such as Barclays or NatWest have a physical presence, digital banks do not.
Without the cost of premises to maintain and run, mobile-only banks are able to offer their customers excellent rates. That, and their online convenience makes banks such as Tide, Revolut, and Monzo popular choices.
Not to mention Starling, who we recently announced. You can read more about this exciting new partnership here.
Who can use Pandle Bank Feeds now?
Working with a new provider means that our Bank Feeds now work with a broader range of online and high street banks.
Now users who bank with Tide can join those from Revolut and Monzo in using our Bank Feeds feature too.
These new feeds are currently still in beta, so still being refined behind the scenes, though we usually run all our beta tests before any new feature is released. After the issues users were experiencing with our old provider, we wanted to get our feeds back and up and running as quickly as possible!
Users who switch to our new feeds now, during the beta phase, will then have to re-connect their feed when the feature becomes fully functional.
This will be within the next 2-3 weeks. In the meantime, new banks are being added all the time; we’ll keep everyone updated. We’re currently working on TransferWise too, and we expect this Bank Feed to be available soon.
If you bank with a digital provider and would like to chat about Pandle Bank Feeds, our friendly support team are here to help! Call us on 020 3393 7434, or speak to us on Live Chat.