Connect can link to over 25 well known banks. There are 2 ways to link Connect to your company bank account, via a tradition Bank Mandate Authorisation form (granting View-Access via your bank) or via Open Banking API’s (which can be activated via your Connect dashboard).
– RBS
– Metro Bank
– Cater Allen
– Barclays
– Danske
– First Direct
– Halifax
– HSBC
– Lloyds
– Monzo
– Nationwide
– Natwest
– Revolut
– Santander
– Starling
– Tesco Bank
– Tide
– TSB
– Ulster Bank
– Virgin Money
– Wise
– Yorkshire Building Society
What is a Bank Mandate Authorisation form?
The Bank Mandate will indicate to your bank that you wish to give Brookson View-Access permissions to see the activity in your Company bank account. The transactions will be downloaded each day and your accounts on Connect will be updated.
This form is obtainable from your bank.
What is Open Banking?
Open Banking legislation came into force in 2019 and is intended to standardise banking transaction data, giving you the ability to grant a 3rd party view-access permissions to see the activity in your Company bank account.
In this case, Brookson are the 3rd party who you would be giving view-access permissions to obtain transaction information to.
Under the Open Banking legislation, view-access permissions are only granted for a period up to 90 days, after which time, permission can be granted for another 90 days. If this permission isn’t granted Brookson will lose the view-access feed to your company bank account.
What is View-Access?
View-access permissions allow Brookson to see the transactional and balance details of your company bank account. This information will be used to ensure your company accounts are kept up to date.
Whilst Brookson have view-access permissions, we do not have the ability to trigger payment from your company bank account. Our permissions solely allow us to see the transactions that are processed in your company bank account.