Thank you for your feedback

Setting up an automated bank feed using our Open Banking providers

Setting up an automated bank feed in Crunch using our Open Banking provider

You can now connect and transfer statements directly from your Business Bank accounts using our Open Banking integration with our trusted provider, TrueLayer.

On our Crunch Basic package, clients can set up Open Banking feeds at a cost of £3.50 + VAT per feed per month - when you set up your new Open Banking feed, the charge will automatically be added to your Direct Debit.  

On our Crunch Plus and Premium package, you're able to connect up to 2 company bank accounts with this service as part of your accountancy package.

For Crunch Small Business package, our clients can link up to 3 company bank accounts with this service as part of your accountancy package.

If you wish to connect more accounts than your package includes, you can add additional Open Banking feeds for just £3.50 +VAT per month, payable by monthly Direct Debit.

What banks are supported through Crunch Open Banking?

We have Open Banking connections for business current accounts with the following Banks:

  • Barclays

  • Halifax 

  • HSBC

  • Lloyds

  • Natwest

  • Santander

  • Starling

You can also add feeds for Barclays business savings accounts.

Who is TrueLayer?

We chose TrueLayer as our partner for this service as their technology is perfectly designed to work with our Crunch software. TrueLayer provides a secure Open Banking integration that means you never need to give your online banking credentials to a third party. Your bank will simply ask you to log into your banking website in order to approve the link with your Crunch account through TrueLayer.

It’s important to note, though, that Open Banking regulations mean that you’ll need to reconfirm this authorisation every 90 days.

How to set up your Open Banking feed?


Step 1:

To make sure that we can set up an automated bank feed for your business bank account, you’ll need to enter the sort code and account number of your business bank account into your Crunch account. 

Go to the ‘Banking Dashboard’ in Crunch, find the bank account that you want to set up an automated bank feed for, click ‘Expand’, and ‘Edit account details’ to make these changes. 

If you've added your account details, sort code & account number, and we support automated feeds from your bank, a green 'Bank Feed Available' button will become visible.

 Step 2:

The next step is to activate the automated bank feed service on your Crunch account. To do so, click the green ‘Bank Feed Available’ button. This will open a page with more information and you’ll need to read and accept the Service Description before you can then click ‘Next’.

Once you’ve accepted the Service Description and clicked ‘Next’, you’ll need to grant Crunch access to your business bank account statements.
 


Step 3:

You now need to authenticate with your bank and confirm you’re happy to grant access to Crunch, through TrueLayer, in order to automatically download your banking transactions into your Crunch account.
 


Step 4:

The final step is to authenticate with your bank to allow us to set up your automated bank feed. The example below is taken from Barclays, however, please be aware that the authentication process may vary from bank to bank.



If you see an error message on your banking page, please contact your bank’s helpdesk.

Step 5:

Once the authentication process is complete, you’ll be redirected back to Crunch and you’ll see a confirmation statement similar to the below:
 

 

When will my automated bank feed start?

Once your Open Banking feed has been activated, it will take up to 24 hours for your bank transactions to start being imported into your Crunch account. You’ll receive an email when the first transactions have been successfully imported into your account. 

What transactions will be imported?

Once activated, Open Banking will pull in all your transactions from your Business Bank account to your Crunch account for as long as you have the service active. Don’t forget, you will need to re-authenticate with your Bank every 90 days - we’ll remind you when you need to do this. 

Our Open Banking integration will pull in historic transactions from the last imported date and can pull in all transactions from up to the last 80 days if you need to backdate any statements you haven’t previously uploaded.

Once your Crunch account is up to date, transactions will be imported from your bank into your Crunch account each Sunday. To avoid duplicate transactions appearing in your Crunch account, we’ve implemented a seven-day delay, which means no transactions from the most recent seven days will be imported. To illustrate this, please see the example below:

  • Transactions imported on 13th of October will cover the period up to 6th October.

  • Transactions imported on 20th October will cover the period up to 13th October.

If you notice any duplicate transactions in your Crunch account or have any questions about your Open Banking feed, please contact your Dedicated Service Team by emailing support@crunch.co.uk.

Last Updated: 03 Feb 2020 01:45PM GMT
https://cdn.desk.com/
false
desk
Loading
seconds ago
a minute ago
minutes ago
an hour ago
hours ago
a day ago
days ago
about
false
Invalid characters found
/customer/en/portal/articles/autocomplete