Getting started with Yodlee feeds
Learn about Yodlee feeds and how they work in Xero.
What is Yodlee?
Yodlee is a third-party that accesses online accounts to retrieve account transactions. Yodlee connects to thousands of online banking websites and financial institutions worldwide to retrieve financial information and make it electronically available to customers.
How does it work?
You provide your online banking user name and password details when you set up a Yodlee bank feed in Xero. Yodlee stores your online banking user name and password details in a highly secure system. Yodlee uses these details only to log into online banking on your behalf and retrieve your account transaction data.
Xero does not store or use your online banking user name and password details.
Yodlee downloads transactions and sends them into Xero
If your bank or financial institution doesn't have multi-factor authentication, Yodlee accesses your online banking site overnight, downloading any new statement data and sending it securely into Xero.
If your bank or financial institution has multi-factor authentication, you'll need to refresh the feed to get the most recent account transactions into Xero.
Multi-factor authentication is additional verification, on top of login details, required before someone can access a secure website.
Additional verification may be a security question, a security image, or a security token.
What does a Yodlee feed include?
New statement data contains the following:
- Cleared and processed transactions, that haven't been reversed.
- Transactions that are likely to have happened yesterday or earlier.
- Transactions that have a description field in the statement line.