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

Discussion in 'Microsoft Money UK' started by x, Mar 3, 2010.

  1. x

    x Guest

    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.
     
    x, Mar 3, 2010
    #1
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  2. x

    DL Guest

    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
     
    DL, Mar 6, 2010
    #2
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  3. x

    Stu Guest

    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 !
     
    Stu, Mar 6, 2010
    #3
  4. x

    x Guest

    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.
     
    x, Mar 8, 2010
    #4
  5. x

    x Guest

    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.
     
    x, Mar 8, 2010
    #5
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