I have a couple of my monthly clients that I am always chasing up to get copies of their Bank Statements, I seem to remember a post on here that discussed being able to get permission that would enable me to view online all their transactions on a read only basis which would be a great help as I do not want full access to their accounts.
I have looked back a few months but can not find the original post (maybe I dreamt it) can anyone advise on either how I can go about setting this up or a link to the previous post.
Cheers
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Doug
These are only my opinions of how I see things and therefore should not be taken as advice
I am currently working on this with one of my clients. They wanted me to use one of their log ons (I wasn't comfortable with that). We filled in a form the other day, still waiting for it to all go through. It should allow me read only access to their bank, hoping this will include being able to download into excel! Their account is with Barclays.
Your client may just need to speak to their bank to see if this is an option.
Hi Doug
Most of the 'proper' banks will allow view only access, as Lyndsey says, after you have filled in certain forms by way of authorisation, usually a Bank mandate plus sometimes a separate application for the online access. You should get your own login credentials and/or security fob thing.
I would never recommend using a customers own details. In fact with most banks any sharing of such goes completely against their T&Cs which would null and void any refunds for fraud if the bank get wind of it. Never mind the fact that such rules are in place to protect you and your client. I have access for a number of Banks, some read only, some to process payments, the mandate can restrict access as much or indeed as little as your client needs.
If your client has a relationship manager, it's better to go through them for such access as quite often the branch/telephony staff have no clue!!
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
I am currently working on this with one of my clients. They wanted me to use one of their log ons (I wasn't comfortable with that). We filled in a form the other day, still waiting for it to all go through. It should allow me read only access to their bank, hoping this will include being able to download into excel! Their account is with Barclays.
Your client may just need to speak to their bank to see if this is an option.
Thanks Lyndsey
Hi Lyndsey
yes Barclays do excel downloads. Well actually I think it's csv or pdf. HSBC do the Sam, plus I think it's called QuickFile (from memory), NatWest, RBS and Coutts do the same, plus bank line which for more than the basic can have a direct feed into sage 50 and Sage 200. Lloyds is csv but a right pain as it's restricted to 150 lines and it doesn't tell you when you've busted that limit so you think you have everything and then find out you haven't when ut doesn't balance.
(Ive nt covered cloudy bank feeds, most banks do that these days, nor obviously have I covered the smaller banks and those so called banks that are really just building societies)
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Sorry to dig up an old post but I have been trying to gain view only access to a clients Nat West account, client went into his bank and asked but they said they do not offer this service, I have since spoke to an advisor who said they only offer it for a bankline business account but that it costs £20 per month
Just wondered if anyone uses Nat West for view only and if what has been said above about the cost is correct, or if there is another way to gain access other than bank statements
Cheers
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Doug
These are only my opinions of how I see things and therefore should not be taken as advice
Sorry to dig up an old post but I have been trying to gain view only access to a clients Nat West account, client went into his bank and asked but they said they do not offer this service, I have since spoke to an advisor who said they only offer it for a bankline business account but that it costs £20 per month
Just wondered if anyone uses Nat West for view only and if what has been said above about the cost is correct, or if there is another way to gain access other than bank statements
Cheers
Ignore this I managed to sort it, spoke to someone from the Business banking team who was very helpful and did not understand why the above information was given, they do view only (free) and he has already emailed me the third party mandate for myself and my client to fill in, quite simple really when you speak to the right person.
Thanks
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Doug
These are only my opinions of how I see things and therefore should not be taken as advice
Seeing as its been so quiet on here over the past few days, thought I might as well carry on.
Maybe I did not speak to the right person yesterday after all, was filling out the mandate today when I was not happy with something about the transaction and access that I had to fill in so gave the helpline another ring to clarify, this time I was told that (like the first time) they do not give view only access and by filling out the third party mandate I would still be able to carry out transactions and make payments which is not what me or my client wants, so back to square one again, all they seemed interested in was trying to get my client onto Freeagent.
I don't mind them not doing view only, just wished all the advisors gave out the same advice (maybe should have posted under FFS)
Rant over, cheers
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Doug
These are only my opinions of how I see things and therefore should not be taken as advice
Oh dear Doug, doesn't sound very helpful at all. Maybe ring up again and speak to a supervisor?
And Natwest are pushing Freeagent down their customers necks are they? Why on earth would they do that, oh yeah they just bought them out lol. How many will fall for the sales pitch though I wonder...
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Oh dear Doug, doesn't sound very helpful at all. Maybe ring up again and speak to a supervisor?
And Natwest are pushing Freeagent down their customers necks are they? Why on earth would they do that, oh yeah they just bought them out lol. How many will fall for the sales pitch though I wonder...
Hi John, fed up ringing them I am just going to stick to either good old fashioned paper statements or a PDF emailed to me.
On that note how do we stand with GDPR and the client sending us private data via email???
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Doug
These are only my opinions of how I see things and therefore should not be taken as advice
At the very least it should be password protected, but it's down to the client to do that. As long as you keep it secure your end you are complying with GDPR. Good point though because it'll probably mean removing the attachment from the email.
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
