Xero bank feed integration with Currencies Direct

Philip McHugh April 24th 2024 - 2 minute read

 Our Xero bank feed integration is now live, allowing payments within your Currencies Direct account to be automatically sent to Xero. Almost four million users subscribe to Xero’s accounting software, making it a foundation for many of our clients when managing payments.  

Bank transactions will now also synchronise after establishing a secure connection and integrating Currencies Direct with your Xero account. As a result, clients who currently use Xero can accelerate their payments process while reducing their team’s workload.   

The launch of bank feed integration is the first part of an exciting journey in the months ahead as we enhance our automation solutions with key accounting software partners. The next phase will allow clients to initiate payments directly within the Currencies Direct platform based on the invoices you have payable in your Xero account. 

What data is shared to your Xero account? 

  • Transaction date¬†¬†
  • Transaction type (credit or debit)¬†¬†
  • Transaction value¬†¬†
  • Transaction reference¬†¬†
  • Transaction description including payee information¬†¬†
  • Total wallet balances¬†

What are the benefits of bank feed integration?  

Increase efficiency: Eliminate the need for manual data entry or reconciliation as transactions are automatically updated, saving time and reducing the risk of errors.  

Real-time insights: Make informed financial decisions with real-time data on FX transactions and account balances within Xero.  

Streamlined record-keeping: Ensure transactions are consistently recorded to maintain accurate financial records for compliance, audits, and financial reporting.  

Enhanced accuracy: Automation reduces the risk of data entry errors, which can lead to costly mistakes and discrepancies in financial records. 

Our bank feed integration with Xero aims to streamline financial management by offering an efficient solution for our clients, allowing them to focus on core business operations.  

Currencies Direct is committed to delivering a market-leading service that offers clients an unobtrusive way to manage their payments. Through the introduction of ERP integrations, beginning with Xero bank feed, our clients and affiliates will have access to an improved product and experience. 

What do you need to do? 

Connecting Currencies Direct to your Xero account can be done in three simple steps. 

Click to connect: Follow the prompts in your Currencies Direct account to start the connection. 

Select your wallets: Choose all the wallets in your Currencies Direct account that you want to sync with Xero (including the transactions and the balances). 

Sync and save time: View your Currencies Direct feed in Xero. 

For support with setting up Xero bank feed integration or more information on its capabilities please speak to your account manager.  

Written by
Philip McHugh

Select a topic: