Xero Bank Feeds - Can I connect two different banks in Xero?
So you’ve paid for your Xero subscription and now it is time to get up and running. You start with the bank feeds and instantly hit panic mode – am I going to have to move my TD banking over to RBC so that my feeds work in Xero? The short answer – NO!
The reason we rave about Xero so much is the ease of use and the variety of banking institutions that can work within Xero – over 100 globally.
When setting up a new feed, simply start typing your banking institution and Xero will filter for all the accounts offered from that institution – select the correct option, input your login information and you should be good to go. If you cannot find your specific bank, that means it is unfortunately not supported within Xero and will need to be manually imported.
Now, if you’re a sole proprietor just getting started, or just haven’t gotten around to opening a business bank account yet, it may be beneficial for you to look into one banking institution that provides all the products you may need – chequing account, savings account, credit cards, etc.
Not all banks are created equally, and some are going to work better than others. Although you can connect as many different banks as you would like, that means different logins, different security questions to answer, and overall, more work.
So, in short, yes you can connect two (or more) different banks to your Xero account. And remember, just because you are with one institution now does not mean you cannot try out another. Some feeds will work better than others in Xero, but more importantly, some banks are going to offer better products suited to you and your business. Don’t be afraid to add another institution or two to Xero if it is going to work better for your business in the long run.
