Starling Bank Launches FreeAgent Integration
After successfully integrating with Xero last year, Starling Bank has announced that its business banking users will now be able to integrate their accounts with FreeAgent, reducing the stress of managing business finances.
The Open Banking integration means that, with permission, FreeAgent will automatically import bank transactions into your cloud-based accounts.
FreeAgent will also pull data like spending category, transaction time and business name and organise transactions in a way that’s suitable for Making Tax Digital for VAT.
All of this means that you can reduce the time spent on routine financial admin and eliminate errors that might creep in while you manually import data.
How to integrate FreeAgent with your Starling Business bank account
If you already have a Starling Business bank account and a FreeAgent account, you can integrate with FreeAgent’s cloud accounting software by navigating to the Starling Business Marketplace, choose ‘Accounting’ and then ‘Add’ when you find FreeAgent.
From here you will need to follow some simple instructions to authorise access and set up your account on FreeAgent in a hassle free way.
What is Starling Bank?
Like Monzo, Starling Bank is an ‘app-only’ challenger bank looking to simplify how people manage their finances.
It uses modern technology to bring banking up to date, helping people manage things like spending and saving more effectively.
For SME business customers, Starling Bank has no monthly fees as well as no fees on electronic payments, no fees on domestic transfers and no fees on withdrawals from cash machines.
And because it is an app-only bank, it means that you don’t need to head to a branch to set up your account. You can apply from anywhere with an internet connection.
Can FreeAgent hook up with other banks?
FreeAgent supports over 4,000 feeds from banks all around the world, but it only has Open Banking integration with a few banks.
This includes Starling’s fellow app-only business bank account Tide, as well as The Royal Bank of Scotland - which owns FreeAgent - and NatWest.
For more information about FreeAgent cloud accounting software, speak to a member of our accountancy team today. Call: 0808 281 0303.