Manage Connections - Sync Your Bank Accounts with Nordveld
Updated: Aug 27, 2021
In this guide, you will learn how to sync your bank accounts with Nordveld Flow and start your journey towards financial automation. Undoubtedly one of the most annoying tasks when trying to get ahead of your personal finance is recording and classifying transactions. While some experts recommend the good old-fashioned pen and paper, we have to stop and think. Is this really the smartest way? In times when people can smile to pay (yes, it’s in China), we probably have to consider utilising technology for other foundational parts of our finances. Like optimising our personal budgets or tracking our net worth.
Digital banking was definitely a game-changer. Nowadays, you can easily view your transaction history and spending behaviour through your online or mobile banking. If you are serious about your personal finances, however, at the end of the day, you still need to manually export and classify data (especially if you have multiple bank accounts)… Or do you?
With the Nordveld Flow bank integration, you can say goodbye to the constant, annoying transaction monitoring. Let’s dive into how Nordveld solves this problem for you.
How Does Nordveld Bank Integration Work?
Nordveld Flow Google Sheets add-on can connect with your bank accounts to export and classify ALL financial data so you can sit back, relax and watch the end result. If you already have Nordveld Flow installed, you can go to the add-ons tab on your sheet, click on open control panel, then manage connections to select your country and bank provider.
Please note, it can take up to 10 minutes for your bank information to load once you confirm the details and connect Nordveld Flow with your bank. Yet, once that is done, all information will populate automatically and reflect in all personal budget excel templates. For example, in the Categories Sheet, where you can see your expenses categorised automatically, or your Balance Sheet, where you review the current balances of your different accounts in one convenient place.
The best part? There is no limit on the number of bank accounts you can connect to Nordveld Flow, as long as they are provided through a supported bank. Thus Nordveld flow can serve as a personal or a family budget app.
Is My Bank Data Safe?
Connecting your bank accounts with Nordveld is a completely secure and autonomous process. As you saw above, the bank connection is secured using Strong Customer Authentication (SCA) following all compliance rules set by the European Union.
Actually, the Nordveld team never sees the data coming from your bank. Moreover, your data is protected from malicious attacks and stored securely on Google infrastructure. Even if you experience problems while using Nordveld Flow, you can provide us with your unique user key which enables us to troubleshoot without logging any sensitive banking data.
All of that is possible through what’s called “Open Banking”. It’s a secure way to bring all of your financial data in one easy place so you can have more control - effortlessly.
Supported Banks and Countries
Nordveld Flow supports aggregate data from over 2,500 financial institutions and banks across Europe. The estimated market coverage is 95% of the population in the supported countries which are currently as follows: - Austria - Belgium - Denmark - Finland - France - Germany - Italy - Netherlands - Norway - Portugal - Spain - Sweden - UK If you don’t see your country on the list, don’t get discouraged. We started small but like to dream big. That’s why Nordveld is constantly expanding and we might include your country in the list of supported markets sooner than you think!
In the meantime, you can learn how to use the manual accounts function, which will help you add and track unsupported financial accounts.
How Does Nordveld Flow Update My Info
The best thing about financial automation? You only do it once!
When your bank accounts are already synced to Nordveld Flow, the add-on reads and updates information automatically so you are always on top of your finances. You can access this function to enable/disable it by going to the settings tab in the Nordveld Flow control panel.
So there you have it! Your finances at a glance. Easy and personalised, but above all… Automated.