Can Anyone Recommend A Bank That Supports An OFX Download With Gross Interest, Tax Deducted, As Well


X

x

Hi,

I'm a disgrunted Nationwide customer who is moving away due to them turning
off Money support.

I'm looking for a bank that will provide Gross Interest, Tax Deducted, and
Net Interest in an OFX download when interest is added to the account - as
in the good old days of Money support from Nationwide I could assign
categories to each part. Then when the Tax Year ended I could run a report
that would produce the three totals that I could then enter into my tax
form.

And if the OFX file could include all accounts at that bank in one download
that would be even better.

I naturally assumed that any of the three UK established banks would provide
this (and secure messaging come to that) but the more I look the more
difficult it is to find. And their "online chat" services that spring up
when inquiring on their Web sites are next to useless - they don't seem to
know the answer, just giving vague answers.

I have experience of Lloyds TSB downloads - who don't even offer OFX, just
QIF, and even then it is just one line saying Net Interest.

Any way would be okay, be it as a comment saying "Gross £xx.xx, Tax £xx.xx"
in the memo field of the OFX entry for the Net Interest or as a separate
entry for each of the Gross Interest, Tax Deducted, and Net Interest.
 
Ad

Advertisements

D

DL

It seems a little odd that the only thing you want from your bank is money
integration.
If you have an interest figure the online Tax return will calculate the
entries based on either gross or net figures
As will any Tax return software
 
S

Stu

What I find ironic is that when I log onto Nationwide they are promoting
having paperless accounts yet they remove the one thing that would have
encouraged me to do so !
 
X

x

What makes you think it is the only thing I want from a bank? I didn't post
on here to receive a critique.

Yes, I do use Tax Return software. However, with the frequent closing and
opening of savings accounts that seems to be necessary to get anything like
a reasonable interest rate, the Money reports were a double check that I
hadn't missed anything when entering data into the Tax Return.
 
Ad

Advertisements

X

x

Yes indeed.

It's a great pity because I've seen many banks Web sites and for me,
Nationwide's is streets ahead compared to the others. I cannot understand
how having puch such effort into making online banking very attractive by
integrating access to savings, current, credit card etc accounts into the
one site and the ease of use, why they don't add that final OFX download
facility.

Sadly, having looked at http://betteronlinebanking.co.uk/, a site set up by
people trying to lobby Nationwide to provide the facility, a solution seems
a long way off.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top