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colleengroenewal
June 2, 2020

Direct Feed - Co-Op Bank

  • June 2, 2020
  • 3 replies
  • 0 views

Morning

 

I have a Client who banks with the Co-Op and currently loads his Bank transactions through a CSV file (does not have the option for "Direct Feed".  

 

He has contacted the Co-Op Bank and has been told that they have updated there system accordingly so that he should be able to have a direct feed again.

 

Please could you let me know if this is correct and when we can expect the Direct Feed to be reactivated in Quick Books

 

Regards

Colleen

    3 replies

    G
    GeorgiaC
    June 2, 2020

    Hi Colleen,

     

    Thanks for your post. 

     

    We're in the process of updating all of our bank feeds to the new Open Bank connections and we'll be bringing in the new feed for the Co-operative bank in the future. While we're unable to release a confirmed date for this, we'll be updating our article linked here when we have further information on this.

     

    If your client leaves the existing feed connected they'll see a banner to click to upgrade this on the Banking page once this becomes available. 

     

    Thanks

    D
    dparting
    March 20, 2021

    Who is responsible for getting the co op bank feed to work

     

    When will it be available.

     

    It used to work and it is nearly 12 months since it stopped working

    D
    Dorset Deb
    March 20, 2021

    Hi

    it is working now for me but it did duplicate several entries. 
    I think I just refreshed it and it connected.

    I do find you have to wait a while for the feed to update and it always seems to be missing the most recent transactions!!!!

    not great service 

     

    D
    Dorset Deb
    June 9, 2020

    Hi Colleen,

    I'm in exactly the same position as you and have been having to import CVS reports from my Co-op Bank account manually. It takes time and has to been done in a certain way otherwise you muck up the import.

    I think it is AWFUL to be fobbed off with this answer from Kudos! 

    We are paying a fair chunk of money to have this as part of our package and I think we SHOULD be given money off our monthly fee whilst they sort it. 

    It could be months before they connect us up. It is really poor service from such a big company with NO indication of when it may be fixed. I was advised to change bank accounts!

    Get your act together QuickBooks!

     

    A
    Ashleigh1
    June 9, 2020

    Hello Dorset Deb, 

     

    Our banking engineers are working with the cooperative bank to get everything resolved and up and running on the open banking, we know it is taking a lot longer than expected but we are working on this we can assure you. Currently, there is no time frame of when exactly the co-op will be on the open banking it is just a case of continuing to csv the transactions into your account. so you can continue to do your books, we know this is not ideal and does take longer to do. Soon as we have any updates on when the co-op will be on open banking we will inform our customers. 

    R
    Rasher
    June 19, 2020

    Emails from Co-op business banking this week are making notification of closing tomorrow (Saturday 20th June 2020) for a full revamp of the online banking system to do a full modernisation.

    There is no mention of Open-Banking being part of that, which is worrying.

    I'm thinking that either this will implement Open-Banking and they just haven't been specific, which would be great, or it will allow a platform upon which Open-Banking could be eventually built, which is not so good.

    Do the QB team have any inside knowledge of what to expect from them?

    D
    david_g1
    August 24, 2020

    I received an email from QBO advising the direct feed was updated and to 'dis-connect' the relevant account (Co-op Business) and to then 'Add Account'. My thoughts were fantastic, this very long outstanding 'Open Banking' issue has finally been resolved. Did the 'dis-connect'. Cannot now get the account to connect. Outcome, now unable to even download csv files from the Co-op. REsult: One very peeved QBO customer. About to do some research on over accounting packages ability to handle the current 'Co-Op Business ' connection, whilst I am at it, how easy is to import QBO  structure into that accounting package. Like others in this thread, really sick to the back teeth for paying for an aspect of QBO that has been defunct for five months!

      R
      Rasher
      August 24, 2020

      I have to say that my experience with Starling Bank since switching from Co-op because of the Open-Banking mess, has been eye-opening.  The issues here are not QB, it's Co-op.

       

      With other banks, it isn't just Open-Banking that now works, but paying in cheques by phone app, banking 24/7 from my phone, ApplePay, and attaching receipts by taking a photo and adding it to the bank transaction, and notifications on my phone when a client has paid my bill.  Every day I can see on my phone the days activity, and with this opening with face recognition on my phone, it is all instant.

       

      I switched banks because of Open-Banking, but now I realise how antiquated Co-op are in so many other ways.  I know I'm sounding evangelistic, but modern banking is more than just Open-Banking, and with Starling, that was just the tip of the iceberg.   There are lots of banks that are fully functional - Santander for instance are also miles ahead of Co-op.  Being able to pay for petty cash items on my phone (especially during Covid) is so convenient. Paying in cheques by app is a dream.

       

      I personally don't see how Co-op can get up to speed ever.  It just isn't going to happen.

      D
      david_g1
      August 25, 2020

      Thanks for your reply Rasher. I have seen some articles (similiar the two below) that seem to highlight many of the issues you outline. We struggle to hit our ethical minded answer for banking and savings. WE recently opened an account with 'Charity bank' based on our ethical matching. I personally had not considered Starling, but will put it to our relevant Director. Yes, the Co-op no longer being a 'cooperative is certainly 'odd'. The private bank issue, may be a step too far

      https://www.
      wholegraindigital.
      com/blog/starling-ethical-business-bank/
      #:~:text=Although%2C%20Starling%20have%20a%20very,of%20the%20B%20Corp%20criteria.

       

      https://moneytothemasses.
      com/banking/starling-bank-review-the-best-place-to-put-your-money

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