Just wondering if Open Banking will work to get bank data feeds for loan accounts? We have a company that has multiple property loans and it would be a real time saver if the data was being imported directly. I tried setting one up but it didn't work so not sure if it's an issue just with our bank (NAB) or the type of account?
Hi SDuddy,
MYOB’s Open Banking help says it can connect to more banks and account types, but it also points out that each bank can have its own Open Banking rules. Some account types can also have extra eligibility requirements around whether they can connect or not. So if the NAB loan account didn’t connect, it may come down to the bank’s rules for that account type, not necessarily something you’ve done wrong. Below are the links you’ll find helpful for Open Banking and the requirements by institution.
Cheers,
Doreen
