Finances

Connect your bank to Tredco

When you connect your bank to Tredco, Tredco fetches the balance and the transactions itself — no file downloads, no typing numbers. The access rests on a consent you give with BankID through PSD2, the rules that let the bank share account information once you say yes. The consent lasts a while, and then it needs looking after. You do all of this in one place: the bank setup, where each bank sits with its status and its accounts.

You open the bank setup from the assistant — ask, for example, "connect the bank" — or from Connect the bank on the home screen when you haven't connected yet. If you already have one bank and want to add another, you'll find Add bank in the bank settings.

How to connect a bank

The setup goes step by step. At the top sit the bank and what you're doing (Bank · Approval · Accounts), so you can see where you are. You can go back to Bank accounts at any time with the button at the top left — nothing is changed until the accounts are chosen at the end.

  1. Choose the bank. On Connect the bank you search for the bank that holds the company's accounts.
  2. Verify the company. The first time, Verify the company appears — a check required by anti-money-laundering law, whatever the bank. You sign with BankID (Start company verification). Some banks also ask for your corporate user ID, two letters and five digits, like AB12345.
  3. Approve at the bank. You're sent to the bank and approve the access there. If you come back without having approved in the browser, the bank may instead show a QR code: Scan the code with your bank app, and tap Check again once you've approved in the app.
  4. Choose accounts. Once the consent is approved, Tredco shows the accounts the bank gave access to (Choose accounts). Tick the ones you want Tredco to fetch from, and tap Add chosen accounts. Tredco reads nothing until you've chosen.

After that Tredco fetches the balance and the transactions itself, and you see them again on the home screen and in invoicing and bookkeeping.

Each bank has a status

In the bank setup each connected bank carries a badge that says how the consent stands:

  • Active — everything works, Tredco fetches as normal.
  • Expiring soon — the consent is nearing its end and should be renewed.
  • Expired — the consent no longer applies, and Tredco stops fetching until you renew.

Beside the badge sits a ⋯ menu for the bank with Renew consent and Replace consent (both explained below), and further down the option to disconnect the bank entirely. When the consent needs renewing, the renew button steps forward in the card's header instead of the menu, so you spot it right away.

The access the bank grants doesn't last forever — every few months it has to be renewed, because the banks themselves require it. You don't have to go looking: Tredco tells you in good time, both with a card on the home screen (Renew bank access) and under the bank settings (Renew access on a bank marked Expired). In the bank setup itself the same action is called Renew consent in the ⋯ menu.

Renewal goes straight to the bank: you approve again, just as when you first connected, and the confirmation reads "Bank access has been renewed." The accounts and the links to the accounts are kept — you only grant the access again. The whole renewal path is in How the business is doing.

Replace consent is for when a different person is to give the access — because the one who approved last has left, say, or because another bank user holds the right account permissions. You replace the consent without losing the history: earlier transactions and the confirmed links to the ledger stay in place.

  1. Tap Replace consent in the bank's ⋯ menu. The heading becomes Replace consent at the bank.
  2. Enter the online-banking user ID of the person who is to give access (two letters and five digits), and tap Continue to the bank.
  3. The new person approves at the bank. While you wait, the old consent carries on for as long as the bank lets it — Tredco doesn't stop fetching in the meantime.
  4. Tredco checks what the new consent can actually read, account by account, before anything is switched.

Read the check before you switch

On Check the access before you switch each account shows two things: whether the new consent reaches it (New access confirmed or No new access) and whether it works with today's consent (Read access today or No read access today). So you see what the switch costs before you decide.

  • When the new consent reaches every account, you tap Use the new consent.
  • When it reaches only some, you can Switch for accounts with access — the covered ones switch, and the rest stay paused with earlier transactions available — or Keep today's consent and try again with a fresh approval.

If Tredco warns that an account which works today would lose read access with the new consent, today's consent stays in use until you've chosen. So you're never forced to switch away from access that works.

Good to know

  • The link to the ledger is kept. A bank account is linked to a ledger account, so bookkeeping lands on the right account. Both Renew consent and Replace consent hold on to that link — a new bank account that turns up asks whoever runs the accounts to choose a ledger account before it's booked.
  • Access is per bank user. Which accounts Tredco gets to read follows the permissions of the bank user who approved. If an account is missing, it's usually the account permissions in online banking that need changing — and then you approve again.
  • Connecting DNB? If you have several corporate online banks in DNB, it's easy to pick the wrong user ID and company. Connect DNB to Tredco takes it step by step.
  • Want to pay bills from Tredco? Then the bank user also needs the right to pay from the account. See The payment queue.

Get started with Tredco

Try Tredco for free. You start on Free, no credit card needed.

All topics