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Bank feeds allow information from your bank to be sent straight to MYOB so you can save time on your data entry.
To set up a bank feed for a Westpac account:
you need to be the online owner (this is usually the person who set up your MYOB subscription) or an Online Admin user. If you're unable to set up bank feeds, contact us and we'll be happy to help.
ensure bank feeds can be set up for your account (check the list)
There are two parts to setting up a bank feed:
1. Apply Start the application process in MYOB and follow the prompts. | 2. Link Once your bank feed is active, choose the account in MYOB the bank feed applies to. |
Need to connect more bank accounts?
The number of bank accounts you can connect depends on your plan. Sign into My Account > Manage my product to see your current limit or upgrade your plan.
1. Apply for a bank feed
Start the application process in MYOB (Banking > Manage bank feeds > Create bank feed) and follow the prompts.
Depending on your location or whether you're setting up a bank feed for a bank account or credit card, here are the steps:
Bank accounts
If you're applying for a bank feed for an Australian bank account (not a credit card), these steps are for you. You'll be able to continue the application using your online banking.
In MYOB, go to the Banking menu and choose Manage bank feeds.
Click Create bank feed.
Choose Westpac from the list of financial institutions. The Set up method confirms you'll be setting up using online banking.
Read the displayed information and, if you agree, select the option I confirm that.
Click Next.
Take note of the displayed reference number or click Copy to copy it to your clipboard. You'll need this code in your online banking to complete the application.
Click Go to online banking.
Sign in to Westpac Live.
Go to the Services & preferences menu and select Services.
Click Bank feeds in the Account Services section.
Select the bank account you are setting up the bank feed for in the From account menu.
Select MYOB as your third-party service provider.
Paste the code you copied earlier into the MYOB Bank Authorisation field.
Provide your email address in the Contact Email field.
Click Connect feed.
Business credit cards
If you're applying for a bank feed for a Westpac business credit card, these steps are for you. Note that you can't set up bank feeds for Westpac personal credit cards.
In MYOB, go to the Banking menu and choose Manage bank feeds.
Click Create bank feed.
For the Account type, choose Credit card account.
For the Bank, choose Westpac Business Credit Cards. The Set up method confirms you'll be setting up using online banking.
Read the displayed information and, if you agree, select the option I confirm that.
Click Next.
Take note of the displayed reference number or click Copy to copy it to your clipboard. You'll need this code in your online banking to complete the application.
Click Go to online banking.
Sign in to your online banking.
Go to the Services & preferences menu and select Services.
Click Bank feeds in the Account Services section.
Select the bank account you are setting up the bank feed for in the From account menu.
Select MYOB as your third-party service provider.
Paste the code you copied earlier into the MYOB Bank Authorisation field.
Provide your email address in the Contact Email field.
Click Connect feed.
How long does it take to approve my application?
Online applications | These applications (processed via Westpac Live) are usually processed by Westpac within 24 hours, but it can take a couple of days. |
Authority form applications | The application forms take 1 - 2 weeks to be processed. |
If you haven't heard from us after this time, contact us.
We'll send you an email when your bank feed has been approved, or you can track the status of your bank feed application.
Once it's ready, you need to link the bank feed to the corresponding account in MYOB—see the next task for details.
2. Link the bank feed to an account in MYOB
Once you've been notified (by email) that your bank feed has been approved and the first bank feed has arrived, you'll need to link the bank feed to the corresponding account in MYOB. This will be the account in MYOB that your bank transactions will be fed into.
To link an account to the bank feed
In MYOB, go to the Banking menu and choose Manage bank feeds. The Manage bank feeds page opens, listing all the bank feeds you have set up and their status.
In the Linked account column for the new bank feed, choose an account from the list. This will be the account that the bank feed transactions will be imported to. You can only select accounts set up as a bank account or credit card.
Click Save to finish.
What happens next?
When your bank feed is ready, your bank transactions will automatically be fed into MYOB at the frequency specified by Westpac for your account type (check here).
You can then allocate those transactions to the applicable accounts or match them to existing transactions. You can even set up rules to make it happen automatically. Find out all about Working with bank transactions.
The first bank feed you receive will have transactions dated from when your bank feed was approved. Any transactions that occurred while you were waiting for the bank feed to be set up won’t be included, but you can import these transactions from your bank statements.