A bank connection represents the consent you have given Synci to access your banking data for a particular bank. A bank connection provides access to one or more bank accounts. Each authentication with a bank counts as one bank connection.

Create a bank connection: Adding bank accounts

Anatomy

A bank connection is the “parent” of all your bank accounts. In order to add your bank accounts to Synci, you need to create a bank connection. If you delete a bank connection, it also deletes every bank account belonging to the connection, as well as the transactions and logs of those bank accounts.

The structure of our banking entities looks like this:
Bank Connection > Bank Accounts > Bank Transactions > Transfer Logs & Rule Logs

Health

Synci tracks the health of all active bank connections. The health of the bank connection is only affected by one thing: the ability to retrieve bank accounts. Every 24 hours, Synci will attempt to refresh the bank connection in order to keep its bank accounts up to date, and also to retrieve any newly available bank accounts. If we’re unable to refresh the bank connection, its health goes from Healthy to Failing. Once Synci has successfully refreshed a failing bank connection, it is automatically restored to a healthy state. If refreshing the bank connection fails 10 times in a row, its health status becomes Dead. At this point you must either renew its consent, or create a new bank connection.

Consent

As mentioned in the beginning of the article, a bank connection represents the consent you have given for Synci to fetch your bank account data for a set period of time. When creating a bank connection, you may customize the number of days the consent should be considered valid. It can be anything between 1 and 180 days (though some banks have a limit of 90 days). After the consent expires, the bank connection is disabled and will stop syncing data. You are also able to manually revoke the consent at any time by disabling or deleting the bank connection.

Renewing consent

You might want to renew a bank connection/consent if:

1. The consent is about to expire or has expired (you will receive several email alerts about this)

2. Its bank accounts are not working properly

3. You have opened new bank accounts that require a new consent

4. You want to make changes to the permissions you have given Synci

When renewing your consent, you are given the option to change its settings (detailed below).

Settings

You may customize the following settings when creating a new bank connection:

• Sync Balances

  Control whether Synci can retrieve the balances of your accounts from this bank connection.

• Max History

  Decide how far back in time Synci can fetch your bank account data. The maximum available period is determined by your bank.

• Access Valid For

  Set how many days Synci will have access to your account data before you must reconfirm your consent. The maximum is usually 180 days, but some banks only allow shorter periods (for example, 90 days). If your bank has a lower limit, you cannot set a longer duration than that.

Bank connection settings cannot be changed after it has been created. This is because the settings are a part of the agreement you consent to when initially creating the bank connection. If you need to change any of these settings after a bank connection has been created, you may renew its consent.