Do we have to switch bank feeds that are on "direct feeds" to the new Open Banking feeds? Or is it ok to leave direct feeds as they are?

Hi Sharlien, thanks for reaching out in the Community.

If your current direct feeds are working and your bank doesn’t require migration to Open Banking feeds, you can continue using them.

Direct feeds are specific arrangements between QuickBooks and your bank and may not be impacted unless migration is required.

However, banks and platforms like QuickBooks Online (QBO) are phasing out older feed systems to comply with Open Banking regulations. If notified by your bank or QBO that direct feeds will no longer be supported, you’ll need to switch even for functioning accounts.

For broken feeds (e.x, your CBA credit card and non-direct feeds), switching to Open Banking will likely resolve issues, as Open Banking provides more stable connections. Check for any notifications from QBO or your bank regarding necessary changes, or review the account setup in QBO to confirm migration requirements.

Find more information here:

• Connect to Commonwealth Bank feeds with Multi-Factor Authentication
• Connect your bank and credit card to QuickBooks Online with Open Banking
  
  

Feel free to reach out with further questions. Your account connection is our priority.