What are Bank Feeds?
TaxTank’s Bank Feeds use Open Banking technology, securely delivered through Basiq, to automatically import transactions from your bank straight into TaxTank.
This means your transactions arrive regularly, nothing gets missed, and every deductible expense is there when you need it. Less admin, fewer headaches, better tax outcomes.
How to add Bank Feeds
There are 2 steps:
Add your bank
Add additional bank profiles if required (Beta)
Select the accounts you want to use
All steps are important. Adding a bank or profile alone does not activate any accounts.
Step 1: Add your bank
Click Banks in the left-hand menu.
From the Bank Feeds dashboard, click Add Banks.
Choose your bank or credit union from the list.
If a bank does not support live feeds, it will show an information icon. These banks can only be used with manual CSV imports. Once they become available for Open Banking, you will receive a notification to update to live feeds.
Once you select a supported bank, you’ll be taken to the Open Banking consent screen.
Once you approve the consent, follow your bank’s on-screen steps to log in and choose the accounts you want to connect to TaxTank.
If your accounts don’t appear after connecting, your bank may require additional data-sharing permissions. Each bank has its own process, so search your bank’s name along with “Open Banking” to check what’s required and update your settings if needed.
After this, your bank will be redirected back to TaxTank. This can take a few minutes to process.
Step 1a: Add another bank profile (if required)
Some banks require separate login profiles or user IDs for different account types. This is common when you have:
Personal accounts
Sole trader accounts
Trust or company accounts
Joint accounts with another individual
TaxTank supports multiple profiles for the same bank. This feature is currently available in Beta and is being rolled out progressively.
How to add an additional bank profile
To connect another bank profile (for example, a separate personal, sole trader, trust or company ID), follow the steps below:
Go to Banks in your TaxTank dashboard.
Locate the existing bank tile.
Select the three dots (⋮) on the bank tile.
Choose Connect additional profile.
Follow the prompts and log in using your bank User ID. If this User ID has multiple profiles, you can log in multiple times, selecting a different profile each time to connect them separately.
Confirm the connection.
Once connected, you’ll see another tile for the same bank. Each tile represents a different login profile.
How to change the name of a bank profile:
Select the three dots (⋮) on the bank tile.
Choose Edit Profile Name, enter the new name, and click Save.
Once connected, you’ll see another tile for the same bank, allowing you to select and manage the accounts linked to that profile.
If you only have one login for your bank, you can skip this step.
Step 2 - Select Bank Accounts
Once you've been redirected back to TaxTank and your bank tile appears, simply click on +Accounts or select the 3 dots on the bank tile, then select 'Add Accounts'. You can now select which bank accounts you would like to use in TaxTank.
By default, and where the bank allows it, we import historic transactions from 1 July of the previous financial year through to today. Some banks place limits on how far back transactions can be retrieved, so we can only import what the bank makes available.
You can change the start date by updating the Import transactions from date, however this will still be subject to the bank’s restrictions.
If you need older transactions that the bank does not allow us to retrieve, you can manually import them at any time using a CSV upload.
You then allocate which Tank the bank account primarily relates to.
For Property Tank accounts, there are several more steps depending upon the account type.
For savings accounts, you'll be prompted to select which property or properties the account primarily relates to.
For loan accounts, you'll be prompted to select which property or properties the account primarily relates to, as well as the percentage of loan that relates to each property and the original loan value to ensure accurate forecasting. Any unallocated percentage will be considered for personal use.
Finalising your setup
Once you’ve selected your accounts, allocated the Tanks and completed any additional details:
Click Submit at the bottom of the pop up.
We’ll create the bank accounts in TaxTank using the current account balances.
We’ll start importing historic transactions where available.
This can take anywhere from a few minutes up to 24 hours, depending on the bank. While this is happening, the CSV import option will be temporarily disabled to avoid duplicates.
As soon as the import is complete, we’ll send you an email and an in-app notification.
From there, you’re ready to start allocating with confidence, knowing nothing has been missed and your tax is as tight as it should be 😉
FAQs
How many accounts can I add per bank?
There’s no limit to the number of accounts you can add. Open Banking only allows one login or ID per bank to be connected at a time.
Why can’t I see transactions for every financial year?
Open Banking only allows transactions from July of the previous financial year. For older data, you can upload a CSV file from your bank that includes:
date, amount, description
ordate, debit, credit, description
I can’t see my accounts when I log in to my bank. What should I do?
Some banks require data-sharing permissions to be enabled before accounts appear. Each bank is different, so check their website and search Open Banking for instructions.
Why do some accounts show up but others don’t?
Not all account types are eligible for Open Banking. Some business, joint, or specialised accounts may not be available. Please check with your bank on whether your accounts are available.
I received an error when connecting my bank. What now?
This is usually due to incorrect login details, missing data-sharing permissions, or an ineligible account. Try logging into your bank directly to check your settings. If you’re still stuck, chat with our support team inside TaxTank.
How long does it take for accounts to appear after consent is given?
Usually it’s immediate, but some banks may take a few hours or longer. Check your bank’s processing times if there’s a delay.
Can I add multiple accounts from the same bank?
Yes, absolutely. If you have multiple logins with the same bank you can now add another profile. Follow the steps in the How to add multiple profiles or user ID's in bank feeds article
What if my bank isn’t listed?
If your bank doesn’t participate in Open Banking, you won’t be able to connect it automatically. You can still use CSV imports where supported.
I reactivated my account after a trial. Why aren’t my transactions updating yet?
When an account is reactivated, bank feeds reconnect automatically. New transactions are collected overnight and will appear the next day. Transactions are not collected while an account is inactive.
Can I add my superannuation accounts?
You can't add live super accounts just yet. Support for super accounts via Open Banking is planned for 2026. In the meantime, you could add them as a manual account if you wish to manage the balances and any transactions you have.
Why can’t I see the Bank Feeds option in the menu?
Bank Feeds are included with all Tanks except the Holdings Tank. If you’re only trialling the Holdings Tank, you’ll need to add another Tank. Also check that your trial or subscription is active.