Xero Bank Feeds Ireland and Brexit
Brexit has had a significant impact on business in Ireland. This means that Xero bank feeds for Irish banks have stopped working. To help with this, aperio and Perpetual have created a Xero bank feeds free converter.
The Xero business that manages Irish customers is based in the UK. And as part of Brexit has lost its ability to ‘passport’ its UK-regulated status to Ireland. That creates a problem, but for every problem, there is usually a solution.
This effectively means that Irish Xero customers are back to downloading statements from their bank, making manual changes in Excel, and importing the file back into Xero. This is a time-consuming and error-prone process, particularly for businesses managing multiple bank accounts. As time is one of the few things we can’t make, a tool like this makes sense for all sizes of businesses.
How we are helping with a free converter
To help Xero customers in Ireland aperio has partnered with Perpetual Digital to create a secure and free Xero bank feeds converter. The converter will simplify the process of converting bank files to the correct Xero format for uploading. It will take a lot of the grunt work out of having to download and upload. The fact that it is free is another huge plus.
Currently, the tool works with Bank of Ireland (Business), Allied Irish Banks (new iBusiness Banking), and Ulster Bank (Bankline) files.
We’d love to hear from you in terms of your experience using the FreerPath tool. Every tool has room for improvement and we want to make this particular tool as effective as it can be.
Follow this link to access the FreerPath converter – https://freerpath.com
Also, we’ve written a short guide as to why we believe Xero is still the best fit for SMEs in Ireland – https://aperio.ie/3-reasons-choose-xero-accounting-system/