Step by Step Guide

Enabling an Open Banking bank feed in FreeAgent allows for automatic import of transactions from your bank. Here is a detailed guide on how to set it up:

Step 1: Access the Banking Area.

Log in to FreeAgent: Enter your credentials to access your FreeAgent account.From the main menu click on the ‘Banking’ Tab and then select ‘Bank Accounts’. This will take you to the ‘Bank account’ summary screen

Step 2: Add a New Bank Account.

From there select ‘Add new account’ and select ‘Bank Account’. You will need your banking security details to allow FreeAgent to connect to your bank account.

Once selected you will be presented with the following screen – enter account name for e.g. NatWest – Business Current Account. Complete the remaining boxes.

Information that you will need to enter will be as follows:

Enter Bank Details:

Bank Name: Select your bank from the list.

Account Name: Provide a name for the account (e.g., Business Checking).

Account Type: Choose the type of account (e.g., Current, Savings).

At the bottom of the screen, once all details have been entered, click ‘Create New Account.’

Step 3: Enable Bank Feed

Click ‘Enable Bank Feed’: After adding the bank account details, you will see an option to enable the bank feed.

Step 4: Connect to Your Bank 

Select Your Bank: A list of supported banks will appear. Choose your bank from this list.

Authenticate: Follow the prompts to authenticate your bank account. This process usually involves logging into your bank account through a secure connection.

Grant Permissions: You will need to grant permissions for FreeAgent to access your transaction data.

Step 5: Confirm Connection

As shown below, a screen will appear once you have clicked on the chosen account.

Step 6: Once you have clicked connect to my bank you will be prompted to enter the bank details – as shown below.

Review and Confirm: After granting permissions, review the connection details.

Complete Setup: Click “Complete Setup” to complete the connection.

Step 7: Sync Transactions

Automatic Import: Transactions will be automatically imported from your bank account into FreeAgent.

Manual Sync: If necessary, you can manually sync transactions by clicking the “Sync” button in the Banking section.

Other Tips:

• Remember to have you bank login details to hand as the software will time you out if there has not been any activity for a set amount of time. In which you will have to restart the process.
• Ensure your bank supports Open Banking and is listed in FreeAgent’s supported banks.
• If you change your bank login credentials, you may need to re-authenticate the connection in FreeAgent.