This article applies to Wave customers in the UK and EU.
The Payment Services Directive 2 (PSD2) is regulating banks in the European Economic Area (EEA) to open their APIs to allow Third Party Providers (TPP) to access customer data and initiate payments.
The required operational and technology cost to support Open Banking for our free accounting platform is too high for Wave at this time.
While Wave will no longer support automatic bank and PayPal imports when Open Banking comes into effect, you can still import transactions using statement uploads or Wave Connect.
If you can download financial statements from your bank, use them to import your transactions to Wave. Wave accepts the following file types:
- Microsoft Money (.OFX)
- QuickBooks (.QBO)
- Quicken (.QFX)
- Simply Accounting (.ASO)
Wave Connect, our integration into Google Sheets, is an alternative to statement uploads. This integration allows you to upload a spreadsheet of transactions to your Wave account.