IMPORTANT: Open banking is only available to selected institutions and account types (bank, loan and credit card). Please be patient as we expand the financial institutions available via Open Banking in the coming months.
If you are conducting an initial migration from an old data feed to Open banking, ensure you do this through the Wealth > choose account> Manage Accounts.
If you are on a Starter account, you can link your bank accounts to your portal as a one time sync of data-any transactions following will require manual updating. You can also add a manual account with name and balance that will have no transactions listed.
To access live data feeds from your financial institutions, you can request your financial professional upgrade you to a Pro account
NOTE: Steps 7 to 11 shown below will vary per financial institution.
To add your bank account using Open Banking:
To add your new account, navigate to the Wealth area in your portal.
Click '+Add item'.
- A pop-up message will appear asking you to select the type of wealth item you wish to add. Select 'Bank accounts'.
Another pop-up box will appear. To link your account to Open banking, select your financial institution from the dropdown list and click 'Link to open banking'. This Link to open banking will only be seen if the institution is supported by open banking functionality.
NOTE: If you do not wish to link to open banking, you can choose to manually add your account- for more information see How do I add a wealth item?
- The Consent window appears. Be sure to review each area of consent.
To proceed, click 'I consent'.
- You will be redirected to your banking institution to complete the process.
- A new browser window will open as part of your banking institution.
Enter in your Internet banking client ID and click 'Next'.
- You are now required to enter your password into the field provided and click 'Next'.
- Select the name of the customer whose accounts you wish to link to your portal and click 'Next'.
NOTE: If you have authority to operate on other customer(s) accounts, this screen is shown. You can only link one customer at a time. If you wish to link other customers/accounts you can do so separately.
- Now select the accounts that you wish to share with your portal by marking the checkbox next to the account name and click 'Next'.
NOTE: You can add additional bank accounts at any stage. See How do I link/unlink an account to/from an existing Open Banking consent?
- A confirmation screen will appear to show you the accounts that will be shared with your client portal. Click 'I confirm'.
- You are directed back to the portal, where a summary of the accounts you are sharing with the client portal is shown. Click 'Save & Finish'.
- The client portal shows a message to advise that the data is being carried over from your financial institution. Click 'OK'.
Your dashboard will show the account adding status.
- Once the account has been added, the dashboard will display an 'Accounts added successfully' message and the newly added item/s can be found within the Wealth section.
- At any time, you can renew consent, delete or hide the wealth item as necessary.
NOTE: Depending on your financial institution, steps 7-11 above may vary slightly.