It is indeed an important step towards more automation...and less time spent looking for lost receipts 😎
In this article, we take the time to explain you the in & outs of connecting your professional bank account to Accountable.
Always start with the WHY: so, why should I connect my account?
Connecting your bank account to Accountable opens a new world of automation. Concretely, we use the connection to your bank account to:
- Eliminate most manual work: with your account connected, you never have to type in a merchant name, nor correct an amount again. We also better assign the relevant accounting categories.
- Make sure you never lose a paper receipt again: you make a payment, we notify you, you can attach the receipt;
- Tell you when your invoices have been paid by your clients, without having you to open your banking app;
- Compute how much cash is actually available on your account, based on your balance and upcoming tax deadlines.
Concretely, how can I connect it to Accountable?
There are several ways for you to start the bank connection procedure:
- From the blue "Bank Account" screen, in the lower window "Connect bank account";
- From the settings, in the "Update your bank connection" section.
From there, the exact procedure might differ from bank to bank. Indeed, the market for bank connectors is gradually maturing but no standard has yet emerged. Currently,
- For ING, the process is based on a PDF mandate you will need to send us signed (available here in FR and NL). From there, it takes 3-5 business days to get your account linked to the app;
- For BNPPF, Revolut & N26, the process is based on the information you use to log in their mobile applications.
How safe is it?
It is extremely safe, and this for several reasons:
1/ We typically only have a "read" access on your bank transactions, meaning that we cannot technically initiate transactions on your behalf.
2/ As a payment institution regulated under the National Bank of Belgium (as of January 2019, we are awaiting final approval), we have the strictest data security processes in place to protect your data. We are regularly audited and have strict reporting obligations.
3/ Your trust is our biggest asset. We know we don't have the right to mess this up.
How many bank accounts can I link to one Accountable account?
Currently only one.
We are thinking of adding several bank accounts per account but this feature is not yet available. Let us know if this is important for you.
Which banks are supported by Accountable at the moment?
We currently support ING, BNPPF, Revolut, N26 and are testing Belfius & Nagelmackers.
We are working extensively to increase the coverage of banks. Come back often to see if your bank was added.
And if I still have questions?
No worries, we are available on the chat here, or via email at firstname.lastname@example.org