FreeAgent is First UK Accounting Software to offer Direct Bank Feeds

FreeAgent is the first UK accounting software provider to offer direct bank feeds via the Open Banking platform.

The announcement means that freelancers and small businesses will soon get secure access to their bank account information in FreeAgent.

They will be able to access up to six years of transaction data and eventually, will be able to create an initiate payments from within the software.

When do you need a business bank account?

Having a business bank account has some benefits. It can help you look more professional and it’s a good way to keep your business finances separate from your personal finances.

But business bank accounts usually charge a monthly fee, plus extra charges on certain transactions. If you are a freelancer or another micro business, you might not want one unless it is absolutely necessary.