MX Bank Connection — Overview, Setup, and FAQ
Overview
MX is LedgerSync's second full bank data aggregator, available alongside the Mastercard API. MX is fully deployed and actively used across the platform — it is not a beta feature. If your bank is not supported by the Mastercard API, or if you need a reliable fallback for banks where Mastercard has coverage limitations, MX may be the right connection to use.
What MX Supports
| Capability | Available via MX |
|---|---|
| Transaction aggregation (live bank transactions) | Yes — fully available |
| Statement aggregation (monthly bank statement PDFs) | Yes — available for supported institutions |
| MFA / multi-factor authentication | Yes — fully supported (security questions, OTP codes) |
| Broken connection fix notifications | Yes — "Fix Bank Connection" button and text-client reconnect work the same as Mastercard |
| Check or deposit images | No — use Premium Bank Connections for check images |
| Rules Engine compatibility | Yes — MX transactions appear in the Rules Engine alongside Mastercard transactions |
| QBO / Accounting CS sync | Yes — MX transactions can be categorized and synced to QuickBooks and Accounting CS |
| Nightly transaction refresh | Yes — MX accounts refresh automatically overnight |
How to Add an MX Bank Connection
- In LedgerSync, select the client you want to connect a bank for
- Click Add Bank Connection (top-right)
- Select the MX Connection option
- In the search box, type the name of your bank and select it from the results
- Follow the prompts to enter the client’s bank login credentials
- If the bank requires MFA (a security question or one-time code), you will be prompted for it on screen. Complete the MFA step to finish the connection
- Once connected, LedgerSync will pull statements and transactions automatically
Unified API: When LedgerSync connects through MX, it uses MX’s Unified API, which requests transactions and statements together in a single login session. This means you are only prompted for MFA once — even if the bank requires authentication for both services. You will not be asked to log in a second time for statements.How to Check if Your Bank is Supported via MX
Not every bank is available through MX. To see which banks are supported for MX-based statement and transaction aggregation, visit the MX Supported Banks page inside LedgerSync, or contact support@ledgersync.com.
You can also check Mastercard support independently at: Mastercard Open Finance Supported Institutions. If your bank is not listed there, MX may be the right alternative — contact support to confirm.
MFA — What to Expect
Many banks require multi-factor authentication when connecting or refreshing a connection. MX handles MFA the same way LedgerSync handles it for Mastercard:
- If a bank requires a security question, you will see the question on screen and can type your answer
- If the bank sends an OTP code (text message or email), enter the code when prompted
- For multi-step MFA (multiple questions or codes), each step appears in sequence on screen
- Once MFA is completed, the connection continues and data begins pulling automatically
If a client’s MX bank connection breaks and requires re-authentication:
- Go to the client’s Bank Summary page
- Click Fix Bank Connection next to the broken MX account
- Choose to send the client a reconnect link via SMS or email, or complete re-authentication yourself if you have the credentials
Statement Refresh — How It Works
Once an MX connection is established, LedgerSync runs a daily scheduled refresh to check for new statements and pull them in automatically. You do not need to manually trigger a refresh each month. If a bank requires MFA at refresh time, you or the client will be prompted the same way as during the initial connection.
Transactions are also refreshed nightly — LedgerSync triggers MX to aggregate the latest data from the bank before pulling transactions, so your transaction list stays up to date without manual action.
MX vs. Mastercard — Which to Use?
| Situation | Recommended connection |
|---|---|
| Bank is listed in the Mastercard supported institutions directory | Mastercard API |
| Bank is not listed in Mastercard but is available through MX | MX Connection |
| You need check or deposit images | Premium Bank Connections (regardless of aggregator) |
| Both Mastercard and MX are available for the bank | Either works — Mastercard is preferred if both fully supported |
| Mastercard connection is breaking frequently for a specific bank | Try MX as an alternative |
Frequently Asked Questions
Q: Is MX still in beta?
No. MX is fully deployed and actively used across the LedgerSync platform. It supports both transactions and statements for all institutions where MX has coverage.
No. MX is fully deployed and actively used across the LedgerSync platform. It supports both transactions and statements for all institutions where MX has coverage.
Q: Why does my MX bank show transactions but no statements?
Not all banks that MX supports for transaction aggregation also support statement aggregation. LedgerSync checks each bank’s capabilities and requests what is available. If statements are not appearing, the bank may not offer statement access through MX. Contact support to confirm.
Not all banks that MX supports for transaction aggregation also support statement aggregation. LedgerSync checks each bank’s capabilities and requests what is available. If statements are not appearing, the bank may not offer statement access through MX. Contact support to confirm.
Q: I deleted an MX-connected account and it reappeared. What happened?
This was a known issue that has been resolved. Deleted MX accounts no longer reappear after deletion. If you experience this, contact support.
This was a known issue that has been resolved. Deleted MX accounts no longer reappear after deletion. If you experience this, contact support.
Q: Can I invite a client to connect their bank through MX from the Communication Center?
Yes. LedgerSync’s Communication Center and Task Center both support MX bank connection invites. When sending a reconnect or add-bank invitation, LedgerSync routes to the correct aggregator (Mastercard or MX) based on the bank.
Yes. LedgerSync’s Communication Center and Task Center both support MX bank connection invites. When sending a reconnect or add-bank invitation, LedgerSync routes to the correct aggregator (Mastercard or MX) based on the bank.
Q: Will MX transactions appear in the Rules Engine?
Yes. MX transactions appear in the Rules Engine transaction grid alongside Mastercard transactions, each tagged with their data source. All Rules Engine actions (categorize, accept, exclude, sync) work the same for MX transactions as they do for Mastercard transactions.
Yes. MX transactions appear in the Rules Engine transaction grid alongside Mastercard transactions, each tagged with their data source. All Rules Engine actions (categorize, accept, exclude, sync) work the same for MX transactions as they do for Mastercard transactions.
Need Help?
Contact LedgerSync Support at support@ledgersync.com
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