How does Zoho Books fetch my bank statement using bank feeds?
Zoho Books has partnered with third-party bank feeds service providers Yodlee, Token, and Plaid to provide bank feeds from supported banks.
- Yodlee — Available in all editions, except the EU DC, and UAE and SA editions.
- Token — Available in the EU DC and UK edition.
- Plaid — Available in the US and Canada editions.
Zoho Books works with a third party service provider called Yodlee - a major online banking solutions service provider. They serve millions of customers worldwide. Yodlee collaborates with several banks to provide us with bank feeds. Once you select your bank from the drop down while adding a new bank account, the account details that you are asked for, are sent directly to your bank.
When you add a bank account or credit card that supports automatic bank feeds, in the background, your bank account’s login credentials will be used by the bank feeds service provider to fetch your bank statement. The statement is then passed onto Zoho Books via channels using 256-bit SSL encryption for secure communications.
At Zoho, we are very particular about our customer’s data security and you can rest assured that your data is protected.
Note: Zoho Books does not store your bank account’s login credentials.
Yes