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What are bank feeds

All things bank feeds
Written by Johann Oberholzer
Updated 1 year ago

About bank feeds

Bank feeds automatically import transactions from your financial institution directly into SOLE.

As a third party, Twilio (our API provider) retrieves transactions from your bank account and imports them into SOLE on your behalf. You have the ability to manually refresh the Twilio feed.

Note: We have an agreement in place with the majority of financial institutions in Australia.

Available feeds

To see if a bank feed is available for your bank account, search for your bank name in SOLE. If your bank or financial institution appears in the search results, bank feeds are available for this bank.

About Twilio

Twilio is an online banking solution provider that connects online banking websites and financial institutions worldwide. They retrieve financial information to generate statements, then make those statements electronically available to customers.

How Twilio feeds work

Accessing transactions

When you set up a Twilio bank feed in SOLE, you provide your online banking username and password details, which Twilio stores in a highly secure system. Twilio then uses these details to log into your online banking to retrieve your bank transactions that have been cleared and processed; then imports these into SOLE.

Note: SOLE does not store or use your online banking username and password details.

Importing transactions

Some banks and financial institutions require multi-factor authentication in order to access a secure website. This requires additional verification on top of your login details, such as a security question, image or token. 

If your bank or financial institution doesn't require multi-factor authentication, Twilio accesses your online banking site and downloads any new statement data and sends it securely into SOLE.

If your bank or financial institution does require multi-factor authentication, you need to manually refresh the Twilio feed to get the most recent transactions into SOLE.

Missing transactions

Twilio only imports processed and cleared transactions. When your feed is refreshed, any available transactions that have been cleared by your bank will be imported into SOLE. If no transactions have been processed in your account, no statements will be imported, so you may notice some missing dates.

Because of how the Twilio feeds work, transactions can sometimes be missed due to the timing of when the bank changes a transaction from pending to cleared and processed.

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