which UAE banks have live bank feeds with Xero?
Updated February 2024
About bank feeds
Bank feeds automatically import transactions from your bank or financial institution directly into your Xero organisation, eliminating the need to import transactions manually. Once you’ve connected a bank feed, statement lines appear in your bank account in Xero ready for you to reconcile each day.
Direct feeds
Where we have an agreement with your bank or financial institution, direct feeds automatically send transactions into your Xero organisation on a regular basis. The banks only provide one direct feed per bank account, so the feed can only be connected to one bank account in Xero.
Once your direct feed is connected, statement lines will appear in your bank account in Xero ready for you to reconcile.
THE CURRENT LIST IN 2024 of UAE BANKS THAT HAVE A LIVE FEED WITH XERO
Abu Dhabi Islamic Bank (ADIB) - Business Banking (UAE)
Abu Dhabi Islamic Bank (ADIB) - Credit Card (UAE)
ADCB Bank - ADCB Bank (UAE)
Citibank - CITIBANK (UAE)
Emirates Islamic - Personal Bank (UAE)
Emirates NBD Bank - Credit Card (UAE)
Mashreq Bank - Personal Account (UAE)
Mashreq Bank - Business Account (UAE)
RAKBank (UAE)
Standard Chartered Bank - Banking (UAE)
How cloud accounting works
Users subscribe to an online accounting software solution and move their books to the cloud. From then on, they can access their accounts from any web browser, or from an app on their phone. Most users connect the software to their business bank account, so that banking transactions flow automatically from the bank to the books. This saves them from a lot of data entry.
Benefits of cloud accounting software
Running your business accounts online has many advantages.
Data about your sales or income and purchases can flow straight from your bank to your books so you don’t spend hours transcribing them
You can see your current financial position at any time
Multi-user access makes it easy to collaborate online with your team and advisors
It’s online software so there’s nothing to install or update, and all your data is backed up automatically.
You can set up a dashboard showing important financial information like who owes you money, what bills are due, and how your cash flow is looking.
Why Choose Zyla Accountants?
Zyla Accountants based in Dubai, offer a hands-on, jargon-free and refreshingly flexible approach to accounting. Our experienced accountants deliver clear-cut support to start-ups, SMEs and social enterprises to help you focus on what you do best. We’re also experts in Xero, so can support you with all your accounting and bookkeeping requirements, including training.