How Bank Connections Work in Outmin
How we connect to your client's banks and what you need to know about maintenance
Outmin relies on live bank feeds to reconcile transactions, surface insights, and ensure accurate VAT preparation. Connecting your client’s business bank accounts is the first and most important step in getting started.
We use Plaid, a secure, regulated third-party provider, to link client bank accounts directly to the Outmin platform. Once connected, transaction data syncs automatically every night, keeping records up to date without manual effort.
How it works:
- For security reasons, only the client can connect or reconnect their bank accounts
- During onboarding, we walk you through how to support this step
- Most firms schedule a quick call with the client to explain the transition and assist with the bank connection
- Connections are made securely via Plaid through the Outmin dashboard
- Once active, feeds sync daily at midnight
Connection maintenance:
- All bank feeds must be renewed every 90 days (a banking regulation)
- The client is alerted in the dashboard when renewal is needed (red banner + Bank tab)
- Your firm also receives automated email reminders
- Reconnection takes under two minutes via the same secure flow
Why it matters:
- Daily processing and clear visibility into client activity
- Accurate, timely VAT workings
- Fewer delays or back-and-forth around missing transactions