Xero recently made updates to their Terms of Use which will affect UK-based users. These changes have been put in place to expand their partnership with Stripe, a popular online payment platform, and provide greater convenience and automation ...
It is important to note that Xero will never ask you to share your Stripe login details or grant them access to your Stripe account!
Starting from the 26th of March 2024, the pricing and fees for some of Xero's clients' Stripe accounts connected to their Xero platform will be managed by Xero. This means that the Stripe account owner will begin to receive communications directly from Xero regarding their account.
"This change is being implemented to make it easier to manage payments within Xero directly!"
To enable this change, pre-existing Stripe accounts within Xero will be replaced with a new account and new account ID from 26 March 2024. You many currently get access to Stripe across multiple software platforms, so no action is required on your part as Xero and Stripe will handle the transition seamlessly.
Xero has also updated its Terms of Use to reflect this change. You many want to review these updates and familiarise yourself with the changes that will take place in the future. The updated Terms of Use can be accessed on Xero's website.
If you have any concerns about these changes, Xero has provided support resources to address any questions or issues. You can raise a case through Xero's website and the support team will respond as quickly as possible. However, it is important to note that Xero will only discuss Stripe account queries with the Xero subscriber or the Stripe account owner. All other general Stripe support enquiries will continue to be handled by Stripe through their dashboard.
It is important to note that Xero will never ask you to share your Stripe login details or grant them access to your Stripe account. This is to ensure the security and privacy of your financial information!
Xero's partnership with Stripe has been beneficial for their clients, as it allows for seamless integration and easy management of online payments. With this update, Xero is taking steps to further enhance this partnership and provide even more convenience.
In the future, Xero plans to embed more of Stripe's payment functionality into their platform. This means that you will be able to access even more of Stripe's features and capabilities directly through Xero.
If anything I've written in this blog post resonates with you and you'd like to discover more about Xero's Terms of Use changes or how they're working more closely with Stripe, it may be a great idea to give me a call on 01604 217365 and let's see how I can help you.
Alison loves bookkeeping and supporting bookkeepers. She has been helping clients to be better bookkeepers in Sage 50 for over 24 years and has been Xero Accredited in accounts and payroll for a number of years too.
She specialises in a very unique hand-holding method of training, helping bookkeepers and business owners to use their accounts software as and when they need support in setting up and producing their invoices, reports and financial information.
Alison combines her role at Silicon Bullet with her Forever Living network marketing businesses and is often to be seen at business networking meetings as she likes to keep busy.
You know what they say: if you want something done well ask a busy person!
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