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Bank Feeds is now live in the UK with selected accounting software providers: Xero and Sage

Did you know?

You're now able to link your business account to your accounting software provider, via Business Internet Banking.

How do I get started?

To activate this service for your accounts, please select the 'Manage Bank Feed' button on the Account Overview screen within your Business Internet Banking, and follow the on-screen prompts. Once this has been set-up for your chosen account(s), we'll automatically send statement data to your accounting software provider*.

Any questions?

To guide you through the set-up process, we've developed a user guide which can be found when you log in to Internet Banking. For more information, please visit Accounting-Software-Integration

*To use the Sage Bank Feeds service, you need to use one of the following Sage products: Sage One Start, Sage One Accounting, Sage Live (version 68.18.0 or later), Sage 50c with Office 365 subscription (version 23.2 or later), Sage 200c Professional (version 2017 or later), Sage 200c Standard. If you no longer want use this automated service and stop statement data being set to your accounting package, you can cancel by following the on-screen prompts via the 'Disconnect Accounts' option.

What are the benefits?

- You won't need to download bank statements manually

- A reduction in manual book-keeping by automating parts of your accounting and reconciliation process

- The daily reconciliation with your accounting software provider improves cash-flow visibility

Fraud Alert – Business Email Compromise

What is Business Email Compromise?

A fraudster emails a company's payments team impersonating a contractor, supplier, creditor or even someone in senior management. The email might appear to be from the CEO, asking that an urgent payment be made, or from a supplier, requesting that future payments go to a new account. Often it instructs the recipient not to discuss the matter with anyone else.

Since the sender's email closely matches a known address, this type of fraud often goes unnoticed until too late. Cybercriminals may even hack into a real email account - from which fraudulent communications are hard to identify.

Remember,

• If the request to make this payment has originated from an email, make sure you verify with the sender it was actually them via a different method (e.g phone them on a known number) before making the payment.
• Make sure your payments team are aware of this type of fraud and what to look out for to protect your business from financial loss.