Salt Edge: UK & EU bank feeds

Bank feeds in the United Kingdom and European countries use an experimental bank feed, from a different provider named Salt Edge.
In this article

Why there are different bank feeds for the UK and EU

When PSD2 ( Payment Services Directive 2) came into effect on 14 September 2019, PocketSmith lost support for bank feeds in the UK and the EU with our bank feed provider Yodlee. You can read more about this in the following post: Open Banking and what this means for UK/EU bank feeds.

Despite our best efforts, we were unable to find a way to keep UK/EU bank feeds active after 14 September. Following this, we continued to investigate ways to restore bank feeds in the UK and EU.

Happily, we found a bank feed provider named Salt Edge, who have a first-to-market solution to allow non-UK and EU entities to provide bank feeds in the UK and EU.

Salt Edge is an FCA-registered aggregator that securely provides PocketSmith with bank account and transaction data, with your consent. It's an elegant and transparent solution that adheres to the new Open Banking regulations.


Enabling Salt Edge bank feeds

If you signed up to PocketSmith while in the UK or a country within the EU, you will have Salt Edge bank feeds automatically enabled for you.

If you were not in the UK or an EU country when you created your PocketSmith account, the Salt Edge bank feeds won't show for you automatically and you will have to manually enable them from the beta settings.

How to enable Salt Edge bank feeds

1
Go to Settings > User preferences
2
Select Beta settings in the left-menu.
3
Tick Yes, I want to access Salt Edge bank feeds.

4
Click Save

Managing your Salt Edge bank feeds

Management of Salt Edge bank feeds is performed in PocketSmith's Account Summary. The toolbar in the Account Summary has all the controls required to connect Salt Edge bank feeds, and feed connections with statuses are listed.

Once Salt Edge feeds are enabled as per the above, a toggle switch will appear on the right of the Account Summary page.

Use this to switch between showing regular Yodlee bank feeds and Salt Edge bank feeds. The controls in the toolbar switch between Yodlee and Salt Edge options when this is toggled, along with the bank feed status information which is shown.

The actions described below all occur within the Account Summary page, from verifying your email address to starting your first connection.


Verify your email address

Before you can create a Salt Edge bank feed, you will first need to verify your email address from the Account Summary page ( Accounts > Account Summary)

Click Verify email and this will send you an email with a verification link.

When you receive the email click VERIFY ME and this will open PocketSmith to verify your email address.


Create a new Salt Edge bank feed connection

1
Head to Accounts > Account Summary
2
Ensure the toggle at the top right of the page is set to Salt Edge
3
Click Start connection in the toolbar, then click Agree & Continue to register your Salt Edge account. Once loaded, you will be taken to a Salt Edge interface
4
Search and select your bank from the Salt Edge form, then view any information under the "Instructions" link, and click Proceed
5
Read the consent information.

If you consent for Salt Edge to access your bank data (which is necessary for it to be provided to PocketSmith), click Confirm
6
Follow through any steps on your bank's website to authorize and select accounts

7
Read through the GDPR consent, which is your consent that allows Salt Edge to share your data with PocketSmith. Once satisfied, click Confirm
8
You'll be taken back to the Account Summary, and your connection information will be retrieved.
Once your Salt edge bank feed has been added, you can establish your accounts as shown in the following guide: Establishing your bank feed accounts in PocketSmith

The Salt Edge Dashboard

When you create your first Salt Edge bank feed connection, you will have your own Salt Edge Dashboard account created. This lets you directly manage your Salt Edge bank connections within a separate interface. Your Salt Edge Dashboard will be created using the email address that you use for PocketSmith.

After your first connection, you will receive an email from Salt Edge advising you to reset your password so that you can create your own password to access the dashboard. This reset link will expire after 6 hours.

If you weren't able to click the link within the 6 hours, you can get another email with the reset link by going to https://www.saltedge.com/dashboard/password/new and entering the email address you use for PocketSmith.

Salt Edge Dashboard login is only needed for advanced options

It isn't a requirement for you to use the Salt Edge Dashboard, as most day-to-day actions can be done directly from within PocketSmith. The main action that requires logging into the Salt Edge Dashboard is completely deleting a bank connection.


Automatic categorization option

With the current Yodlee bank feeds, you can turn on or off automatic categorization for each individual bank feed. With the current implementation of Salt Edge bank feeds, there is just one setting for all Salt Edge bank feeds. It isn't yet possible to change this option for separate bank feeds, however, this will change in the future.

The automatic categories are different to the automatic categories from a Yodlee bank feed. If you want to match a Salt Edge category to a Yodlee category, you can delete the Salt Edge category and merge this with a Yodlee category. This will then create a category mapping so that when the next transaction with the Salt Edge category is imported, it is changed to the Yodlee category. 

For more details about category mapping, see the following guide: Category mapping.

How to change automatic categorization option

1
Go to  Settings >  User preferences
2
Select  Beta settings in the left-menu
3
Tick/untick  Yes, I want automatic categorization.
4
Click  Save

Pending transactions

Pending transactions work a bit differently with Salt Edge bank feeds compared to Yodlee bank feeds. We will try to copy across any edits that you have made to a pending transaction to the posted transaction but this might not always work due to key differences between transactions. Make edits to pending transactions with caution, until they are posted.

As with automatic categorization, there is just one setting for pending transactions for all Salt Edge bank feeds and it isn't possible to change this option for separate bank feeds.

How to change the pending transaction option

1
Go to  Settings >  User preferences
2
Select  Beta settings in the left-menu
3
Tick/untick  Yes, I want pending transactions.
4
Click  Save

Issues with Salt Edge bank feed connections

If you have an issue with a Salt Edge bank feed, you will need to contact Salt Edge support in order for them to investigate. 

How to send a support request to Salt Edge

1
Go to  Accounts > Account Summary
2
Change the toggle switch at the top right of the page to Salt Edge

3
Click down arrow on the bank feed section containing the feed you're having trouble with
4
Locate the bank feed connection you want to report an issue with, and click the 3-dot menu
5
Click Get support

Note

If this section isn't yet available to you, you can submit a request directly to their support team here: Make a support request

6
Enter the email address you use for your PocketSmith account and Salt Edge Dashboard 
7
Enter the details of your issue
8
Click Send

Note

If you are not sure if there is an issue with the Salt Edge bank feed or if it is an issue with PocketSmith, please don't hesitate to get in touch with us!


View ignored accounts from the bank feed

When you are establishing your accounts in PocketSmith from the bank feed, if you don't choose to add an account to PocketSmith we hide these accounts. If you want to add these accounts to PocketSmith at a later date, you will need to unhide these accounts from the bank feed.

Please note that, if an account was not selected and authorized when setting up the Salt Edge connection, you'll need to head to the Salt Edge dashboard to connect and authorize the account so that it can be brought into PocketSmith. For detail on how to do this please see: Authorize a new account for an existing Salt Edge bank feed

Unhide ignored accounts from a bank feed

1
Go to  Accounts > Account Summary
2
Change the toggle switch at the top right of the page to Salt Edge

3
Click the downward arrow beside the bank connection where the account is held
4
Locate the bank feed that contains the account, click the 3-dot menu, and select Accounts
5
In the Ignored accounts section, find the account you want to unhide and click Make available
6
Close the modal and you can now establish an account in PocketSmith with the account that you have just unhidden

If you'd like to unlink an account from a Salt Edge bank feed, the process is the same as for unlinking an account from a Yodlee connection.

We've got all the detail here: Unlinking a bank feed from an account


Authorize a new account for an existing Salt Edge bank feed

If you've opened a new bank account with an existing bank, or you wish to bring a previously unauthorized account into PocketSmith, you'll need to do this via the Salt Edge dashboard.

1
Head to the Salt Edge Dashboard
2
Ensure that Connections is selected
3
Locate the bank feed that you wish to authorize the new account on, and click Reconnect
4

You'll be taken to your online banking to log in. Follow through any steps to confirm read-only consent.

5
Then, authorize and select  all of the accounts you wish to see in PocketSmith, including those that were previously authorized.
5
Once complete, the Account Summary page will refresh and the new account will appear in the Ready to link section.

To establish the new account within PocketSmith, complete the steps outlined here.

Revoke consent to PocketSmith for Salt Edge bank feed connection

If you no longer want your banking information to be imported into PocketSmith you can revoke your consent for PocketSmith to access the bank feed connection. This can be done from within PocketSmith or the Salt Edge Dashboard.

How to revoke a bank feed connection in PocketSmith

1
Go to Accounts > Account Summary
2
Change the toggle at the top of the page to Salt Edge

3
Click down arrow on the bank feed section
4
Locate the bank feed connection you want to revoke and click its 3-dot menu
5
Click Revoke
6
Click OK to confirm the revocation

How to revoke a bank feed connection in the Salt Edge Dashboard

1
Go to the Salt Edge Dashboard
2
Click on Partners in the top-right
3
Click on PocketSmith
4
Find the bank you want to revoke and click the X
5
Click Revoke to confirm

Delete a Salt Edge bank connection

It isn't possible to delete a Salt Edge bank connection from within PocketSmith. You can only revoke consent for PocketSmith to access the bank feed connection. In order to delete the Salt Edge bank connection, you will need to follow the steps below:

1
Go to the Salt Edge Dashboard
2
Click the bank feed connection you want to delete
3
Click Delete
4
Click Delete again to confirm the deletion

Renew Salt Edge authorization after 90 days

For security purposes, Salt Edge Limited is only provided access to your accounts for a limited period of time - usually up to 90 days. Due to this, you will need to renew your authorization after this period has lapsed. Please follow the below to renew this connection:

1
Go to  Accounts > Account Summary
2
Change the toggle switch at the top right of the page to Salt Edge

3
Click the downward arrow beside the bank connection where the account is held
4
Select Sync now

5
Search and select your bank from the Salt Edge form, and click Proceed

6
Read the consent information.
If you consent for Salt Edge to access your bank data (which is necessary for it to be provided to PocketSmith), click Confirm

7
Follow through any steps on your bank's website to authorize and select accounts
8
Read through the GDPR consent, which is your consent that allows Salt Edge to share your data with PocketSmith. Once satisfied, click Confirm

9
You'll be taken back to the Account Summary, and your bank feed will sync.

Still need help? Contact Us Contact Us