Bank Account FAQs

Frequently asked questions about adding, managing, removing and using connected bank accounts with Prosaic.

How do I add new bank accounts to Prosaic

If you want to enable new bank accounts with Prosaic, eg to set up live bank feeds and/or retrieve transaction history, follow these steps:

• Click on your profile in the main menu
• Navigate to 'Bank Connections'
• Choose 'Add Bank Accounts' and follow the prompts to sign into Akahu and enable bank account access for Prosaic

How do I remove bank accounts or bank transactions?

You can disconnect bank feeds (but retain transactions), or delete accounts and transactions from Prosaic entirely.

There's a couple of ways to do this

1. Revoke account access in Prosaic: navigate to your connected accounts page and select any account to disconnect or remove it completely.
   1. Disconnecting a bank account with stop syncing live feeds, but retain historical bank transactions in Prosaic
   2. Removing a bank account will remove the account entirely, and delete any historical transactions
2. Revoke account access in Akahu: sign into Akahu using your email address, where you can manage any connected bank account and application, and revoke access or delete accounts

How do I know my data is secure?

Akahu adheres to stringent security standards to ensure your data is protected. All data is encrypted and securely transmitted between your bank and Prosaic. For more information, visit Akahu’s consumer and safety page.

how do I add

Why am I being asked to enter my password?

Akahu allows you to securely authorise access to your bank accounts using your login credentials. This is securely stored and encrypted and only used for account sync.

As part of the roadmap for Open Banking in New Zealand, local banks are being regulated to offer new authorisation standards for account access, for example oAuth 2 (similar to how you authorise access to your Google Calendar, or Xero account), which will only continue improve the consumer experience. In the meantime, all banks using the Akahu platform have provided accredited approval to share data using the current method.

Can I check and verify with my bank?

Yes, you can always check with your bank to verify the security and legitimacy of Akahu’s services. Most major banks in New Zealand recognise and support Akahu as a secure and trusted service provider. Akahu Limited is part owned by Westpac bank.