Bank Account Synchronization
Streamline your financial management by connecting bank accounts directly to Open Collective. Automatically import, synchronize, and reconcile bank transactions with Platform activity.
As a Fiscal Host, managing finances often means working with transactions that happen both on and off the Open Collective Platform. Whether it's paying for expenses directly from your bank account, receiving donations through other channels, or handling day-to-day operational costs, these off-platform activities are crucial parts of your financial picture.
Open Collective's Off-Platform Transactions feature bridges this gap by enabling you to connect your bank accounts directly to the Platform. This powerful integration automatically imports your bank transactions, helps you match them with existing Platform activity, and provides a complete view of your financial operations.
Open Collective supports Off-Platform Transactions across two major regions through partnerships with leading financial technology providers: Plaid (US) and GoCardless (Europe).
Getting Started with Off-Platform Transactions
Before you can set up Off-Platform Transactions, make sure you have:
Fiscal Host Status: You must be set up as a Fiscal Host on Open Collective
Feature Access: Your account must have access to the Off-Platform Transactions feature (this may require a platform subscription upgrade)
Administrative Permissions: You need admin access to your Fiscal Host account
Bank Account Access: Valid credentials for the bank accounts you want to connect
Supported Region: Your bank must be located in a supported region (US or Europe)
Step-by-Step Setup Guide
Step 1: Access Connected Bank Accounts
Log in to your Open Collective account
Navigate to your Fiscal Host Dashboard
Click "Connected Bank Accounts" in the left sidebar
You'll see a page showing any existing connections and a "New Connection" button
Step 2: Start a New Connection
Click the "New Connection" button in the top-right corner
You'll see a dialog asking you to choose your region:
United States: For U.S.-based banks (uses Plaid)
Europe: For European banks (uses GoCardless)
Step 3A: Connecting a U.S. Bank Account (Plaid)
Select "United States" in the region selection
You'll be redirected to Plaid Link, a secure connection interface
Search for your bank: Type your bank's name or browse the list
Select your institution: Click on your bank from the search results
Enter your credentials: Provide your online banking username and password
Complete verification: Follow any additional verification steps (SMS codes, security questions, etc.)
Select accounts: Choose which specific accounts you want to connect
Authorize the connection: Review permissions and confirm the connection
Step 3B: Connecting a European Bank Account (GoCardless)
Select "Europe" in the region selection
Choose your country: Select your bank's country from the list of 31 supported countries
Select your bank: Browse or search for your specific financial institution
Review connection details: See information about data access period and available transaction history
Confirm connection: Click "Connect to [Bank Name]"
Authenticate with your bank: You'll be redirected to your bank's official website or mobile app
Authorize Open Collective: Grant permission for GoCardless to access your account data
Return to Open Collective: You'll be redirected back with a successful connection
Step 4: Configure Your Connection
Once connected, you can configure how your bank account integration works:
Account Selection: If your bank has multiple accounts, choose which ones to sync
Sync Settings: Configure how often you want transactions to be imported
Assignment Rules: Set up automatic assignment rules for certain types of transactions
Working with Imported Transactions
Understanding the Transaction Import Process
Once your bank account is connected, Open Collective will begin importing your transaction history:
Initial Import: The system will import historical transactions based on your provider's capabilities:
Plaid (US): Typically 24 months of transaction history
GoCardless (Europe): Varies by bank, typically 90 days to 24 months
Ongoing Synchronization: New transactions are imported automatically:
Plaid (US): Real-time updates via webhooks (usually within minutes)
GoCardless (Europe): Scheduled synchronization every 10 minutes
Transaction Statuses
Every imported transaction has a status that indicates what needs to be done with it:
Pending: Newly imported transactions that haven't been processed yet
Processed: Transactions that have been successfully matched or categorized
Ignored: Transactions you've marked as not relevant to your Open Collective operations
On Hold: Transactions that need review before they can be processed
The Off-Platform Transactions Dashboard
To view and manage your imported transactions:
Go to your Fiscal Host Dashboard
Click "Off-Platform Transactions" in the left sidebar
You'll see a comprehensive view with:
Summary statistics showing counts of transactions by status
Filter options to find specific transactions
Bulk action tools for processing multiple transactions at once
A detailed transaction list with all imported data
Troubleshooting Connection Issues
Connection Fails to Sync:
Check if your bank credentials have changed
Verify your bank account is still active
Try reconnecting using the "Update Connection" option
Contact support if issues persist
Missing Transactions:
Check if transactions fall within the supported date range
Verify the transaction amount meets minimum thresholds
Confirm the transaction has fully settled in your bank account
Try manually triggering a sync
Duplicate Transactions:
The system automatically prevents duplicate imports
If you see duplicates, they may be from different accounts or pending vs. settled transactions
Use filters to identify and manage any apparent duplicates
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