New To NetSuite | Automatic Import for Bank Data is not Syncing due to MFA

Katerina Winklerova-Oracle

The Bank Feeds SuiteApp uses the Financial Institution Connectivity Plug-in to perform an automated process that retrieves bank data and imports them into your NetSuite account.

Financial institution accounts that support Multi-Factor Authentication (MFA) require to enter more information than just a password. For example, along with the password, users might be asked to enter a code sent to their email, token, answer a secret question, or one-time password.

Automatic bank data import could fail if there are bank accounts requiring this additional authentication (MFA).

NetSuite will not process the automatic bank transaction import due to the following Error: "Additional MFA (Multi-Factor Authentication) information is required by ABC Bank to proceed. To resolve, go to the Connectivity Configuration subtab and provide the required information. A technical error occurred while connecting to ABC bank. Please try again, and if the problem persists, contact Support for assistance."

This is because every time the NetSuite tries to perform the auto-import, the bank will require an additional layer of authentication (via MFA) which the system won't be able to automatically generate and enter for the user. User would need to re-authenticate the bank credentials in Bank Feeds to ensure successful automatic bank transaction import.

To Re-build the bank connection in NetSuite:

1. Navigate to Setup > Accounting > Financial Institution > List

2. Click View on Bank Feeds

3. Click on Format Profile: Configuration tab 

4. Click Edit next to the Name of the Connection

5. Click on Connectivity Configuration tab

6. Click on the chain-like icon under the Rebuild Connection column for the Bank

7. On the pop-up box, please enter the log-in credentials for the bank

8. Click Update

9. Enter the Multi-Factor Authentication (If required)

Note: Answer the MFA within the timeframe

10. Review the Tab, on the list of Bank Accounts, enter checkmark for the Accounts to be linked, and click Save and Finish

11. Click Account Linking subtab, map your Bank Account to your GL Account

12. Click Save

13. Click Track your status link OR Navigate to Transactions > Bank > Bank Import History

To Re-build the bank connection in NetSuite Next:

1. Click Explore (hamburger icon in the bottom left corner beside the home button).

2. In the menu, go to Set up > Accounting > Financial Institution list

3. Click View on Bank Feeds

4. Click on Format Profile: Configuration tab 

5. Click Edit next to the Name of the Connection

6. Click on Connectivity Configuration tab

7. Click on the chain-like icon under the Rebuild Connection column for the Bank

8. On the pop-up box, please enter the log-in credentials for the bank

9. Click Update

10. Enter the Multi-Factor Authentication (If required)

Note: Answer the MFA within the timeframe

11. Review the Tab, on the list of Bank Accounts, enter checkmark for the Accounts to be linked, and click Save and Finish

12. Click Account Linking subtab, map your Bank Account to your GL Account

13. Click Save

14. Click Track your status link OR Navigate to Transactions > Bank > Bank Import History

Note: Wait for the import process to be Completed

Depending on your bank, you must reauthenticate every time you want to get the latest transaction from your bank. This is a standard behavior for the Bank Feeds SuiteApp and is consistent with the documentation provided in the following SuiteAnswers articles:

• 96250 Multi-Factor Authentication on Bank Feeds
• 93227 Bank Feeds SuiteApp FAQ
• 96321 - Resolving Financial Institution Connection Errors When Using the Bank Feeds SuiteApp

If regular re-authentication or rebuilding of connections is not feasible for you, the recommendation would be to connect to your MFA bank accounts using the Auto Bank Statement Import (ABSI) and Bank Statement Parsers SuiteApp instead.