Import and sync payments for european bank accounts - CAMT - MT940 - SWIFT - XML
DrDBanner opened this issue · comments
What version of Invoice Ninja are you running? ie v4.5 / v5
v5
What environment are you running?
VPS
Have you searched existing issues/requests?
YES
Screenshots
None
Additional context
As far as I can see it's currently not possible to import or sync payments on bank accounts for the EU. Especially in germany things move slower and people do pay via bank transfer for local services quite often. So, it might be beneficial to have the ability to automate the process of booking those payments.
Banks in Europe do support SWIFT (MTxxx) (deprecated) and CAMT standards for manual export of banking account transactions.
Banks are increasingly converting bank statements from the MT940 format to CAMT which is defined in the iso 20022 standard. CAMT stands for Cash Management and the resulting bank statement files are provided in an XML format. So, this would be useful for manual booking of payments, expenses, and invoices.
CAMT Resources
- https://www.iso20022.org/iso-20022-message-definitions (scroll to CAMT)
- https://www.swift.com/standards/iso-20022/iso-20022-payments-financial-institutions
PS2D Resources
Additionally, there is the XS2A Standard:
To me it looks like it's like a hybrid of for profit and open standards model. But I didn't dig too deep into it.
Account information services and payment initiation services must be registered with the national supervisory authority BaFin (German Federal Financial Supervisory Authority) and, depending on the activity, apply for a specific license. Authorization and registration are linked to certain requirements, such as professional indemnity insurance on the part of the services.
Perhaps that's why the finapi people charge money.
- https://www.finapi.io/en/
- Docs https://docs.xs2a.com -> Mind the libraries
- Useful REPO https://github.com/FinTecSystems/xs2a-react-native
Similar and related: #8042 #2734 #1716
Conclusion
- Adding support for those standards IN gets a big boost in functionality for the european market.
- Functionality may qualify for a billable add-on
looks like a duplicate of #2295
to be honest, with the GoCardless / Nordigen integration, I'm not sure there is much value with something like this?
Isn't it like there needs to be an existing bank account? With the self-hosted version I can't create one if I am not mistaken. At least it seems to me like that.
https://invoiceninja.github.io/en/banking/
Repsective: https://invoiceninja.github.io/en/banking/#importing-bank-statements
Wouldn't it be sufficient to be able to create a bank account with bank name and bank account number (but not linked to any online service) and then be able to use the existing csv importer? Or am I conceptually wrong?
The screenshot show's I don't see any banking import there.
to be honest, with the GoCardless / Nordigen integration, I'm not sure there is much value with something like this?
Probably you are right, since (I wasn't aware of) gocardless offers a free plan for 50 requisitions per month. So, it's more or less a viable solution. to the problem. Maybe updating the docs with a step by step tutorial could reduce unclarity.