Bank Feeds SuiteApp
Not every financial institution connection experience is the same and not all financial institutions can be accessed, or accessed reliably, using the Bank Feeds SuiteApp. Several factors may affect whether the Bank Feeds SuiteApp will be able to establish and sustain a connection with your financial institutions, including factors outside of NetSuite's control.
In addition, only select bank or payment accounts are supported by the Bank Feeds SuiteApp. Selecting an unsupported account type such as a loan, mortgage, and investment may not apply to your bank feeds setup.
To see a list of things to consider, including prerequisites for using the Bank Feeds SuiteApp to connect to your financial institution, see the Important Things to Note section of Setting Up Bank Feeds Integration.
The Bank Feeds SuiteApp enables you to automate the transfer of your bank data from certain financial institution accounts into NetSuite. The SuiteApp uses the Financial Institution Connectivity Plug-In and an authorized account information service provider to securely access online financial institution data.
Watch the following video for a brief overview of the Bank Feeds SuiteApp:
The SuiteApp retrieves bank data daily to ensure that everything in your bank account is reflected in NetSuite. It then imports the data into your account to aid with the bank reconciliation process. This process eliminates the manual effort of importing and matching your banking data in NetSuite.
This SuiteApp enables you to connect to certain financial institutions that operate globally, and some that are country-specific. For some connected financial institutions, the SuiteApp enables you to:
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Receive cleared and processed bank transactions daily from your financial institution accounts
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Automate the import of bank transactions and account balances daily from your financial institution accounts into your NetSuite account
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Manually trigger real-time bank transactions and account balance import into NetSuite
Supported Financial Institution Account Types
The account types that the Bank Feeds SuiteApp supports depends on several factors, including the operating country of your financial institution. Refer to the following table for the list of supported account types.
|
U.S. and Canada |
PSD2 Regulated Countries Within Europe |
Non-PSD2 Regulated Countries Within Europe |
Other Countries (New Zealand, Philippines, Singapore, and Thailand) |
|---|---|---|---|
|
Checking |
Payment Accounts (Credit Card, Debit Card, and Ewallet) |
Payment Accounts (Credit Card, Debit Card, and Ewallet) |
Payment Accounts (Credit Card, Debit Card, and Ewallet) |
|
Savings |
Bank Deposit Accounts (Savings and Checking) |
Bank Deposit Accounts (Savings and Checking) |
Bank Deposit Accounts (Savings and Checking) |
|
Credit Card |
|
|
|
The SuiteApp connects to your financial institution through either of the following, depending on your financial institution's requirements:
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Simple login – Connect to your financial institution by providing only your username and password.
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Multifactor authentication (MFA) – In addition to your username and password, connect to your financial institution by providing authentication information to validate your identity. Examples include one-time passwords and two-factor authentication (2FA).
Read the following topics to learn more about the Bank Feeds SuiteApp: