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Full Terms You want to grant a third party website or mobile application access, on your behalf, to information about yourself, your Bank of America relationship, and your accounts at Bank of America. The decision to grant this access is not without risk and should be carefully considered. You should use caution and ensure that the third party has appropriate policies and practices to protect the privacy and security of any information you provide or to which it is gaining access. Bank of America is not responsible for the use or disclosure of any information accessed by the third party. Use of your information by Plaid or a specific app/site is governed by your agreement with them, not by Bank of America. Bank of America and its affiliates reserve the right to restrict access to your information by the third party at any time and without notice (for example, to help protect the security of your accounts). You can review who has access to your information and exercise your right to revoke that access at any time by submitting a request to Plaid. To submit your request, log in to the Bank of America Online Banking website or mobile application and selecting 'Third Party Site Access' from the Security Center. Account Details & Transactions Account information from external institutions is updated by U.S. Bank once daily (early morning) at a minimum, and some institutions may refresh or update their data every three hours as requested by U.S. Bank. Your account information will be updated automatically each time you login to the app with the daily update, or more refreshed data if available. Data can also be refreshed manually, but only if more
than three hours has elapsed since the last update. As such, external account balances displayed may not reflect the latest transactions or available balances. The time shown, for example (1 hour), next to your external account, is the time elapsed since new data was successfully received from your institution. For the best mobile banking experience, we recommend logging in or
downloading the U.S. Bank Mobile App. To refresh your account data manually, pull down on the account dashboard. You can also refresh your account at the financial-institution level by following the steps below. Contact usIf you use financial services like Venmo, Betterment, You Need a Budget, or Robinhood, you’re one in four American adults
already using one of the most innovative financial technologies today: Plaid. Plaid is used to connect your bank accounts to various software and applications and is quickly becoming a household name. With any software that accesses sensitive financial data, customers want to know exactly how their information is being used and they want a firm guarantee that their money is secure. Here’s everything you need to know about Plaid and how it keeps your bank information
secure.
What is Plaid?Plaid is a fintech company that acts as an intermediary link between your bank account and financial apps. When you link your bank accounts to an application that uses Plaid, Plaid takes the account logins you provide, encrypts the financial data requested (such as an account balance), and then supplies it to the application with a secure connection. Plaid obscures your login data to protect you, only sharing the information that you choose. Plaid provides a way for you to seamlessly link your bank accounts for over 3,000 different financial services while maintaining total security and control using a secure API. What is an API?API = Application Programming Interface An API is a feature of your website or application server which works between other sites and applications. Essentially, APIs talk to other applications to link up data, without having to leave your site, (think Google calendar links or jumping to your bank’s website). Plaid’s API allows countless applications to link bank accounts seamlessly. Developers simply request Plaid’s API keys and then create a free account to utilize these keys to link financial information safely and quickly—as consumers, developers, or curious experimenters. Why does Plaid ask to connect to my bank account?Plaid connects to your bank account so that it can create a secure connection between your financial institution and the applications that need financial information. Plaid uses that connection to your bank account to pull out whatever data your financial applications need while still protecting your sensitive information. Plaid may pull out data like your account balance, or account numbers needed for deposit or withdrawal, but it does so using encrypted, protected tokens to shield your actual account information. Is Plaid safe?Many consumers are concerned about allowing access to their bank accounts, and with good reason. You want to keep your finances secure, so you might hesitate when an application asks for your bank account information. But when Plaid asks—you can connect with confidence. One fintech founder compared using Plaid to any other online financial choice, such as online shopping with Amazon. “Each time you hit the order button and implicitly believe that what you ordered will actually be delivered, you are showing trust.” There is always some risk online, but users should be able to move forward with trust. How does Plaid maintain your privacy?You can control every single detail of your personal information through the Plaid platform. You decide what Plaid can supply to applications, including:
Plaid’s privacy policy states that they will never sell or rent your personal information, and they only share data with the companies you’ve allowed permission. How secure is Plaid?Even when a company promises to keep your financial data private, there is still the concern about security. Is your data safe from cyber attack or breach? Plaid takes care to ensure that your information stays secure from malicious attempts to access and steal assets and access. Plaid relies on the following to maintain tight security:
In short, using Plaid gives you greater control over your finances without compromising safety. What companies and banks use Plaid?Who uses Plaid?
(source) Popular Plaid apps for individuals & businessesPlaid powers over 3,000 finance applications, including a handful you might already use:
It’s likely that any application you’re using that connects to your bank or credit accounts is using Plaid—or will be soon. Plaid is safe, reliable, and designed for customers and businesses who want to make secure financial access totally seamless.
 What does Plaid mean when it asks me to update my bank account?Bitmo uses Plaid to verify your bank account information. If your bank is eligible for this type of verification, you will be prompted to add your online banking username and password (or other identifying information) after you have selected your bank.
Is it safe to give Plaid my bank login and password?You'll probably run into Plaid when you connect your bank account to apps run by financial services like American Express, Venmo, or Upstart. Plaid authenticates your financial information, permitting companies to transfer sensitive information securely. But is Plaid safe? Yes, it's considered safe to use.
Why is Plaid asking for my bank login info?Why does Plaid ask to connect to my bank account? Plaid connects to your bank account so that it can create a secure connection between your financial institution and the applications that need financial information.
How do I connect Plaid to my bank account?To do this, open the app, fill out your Plaid bank credentials, and tap on the Menu icon in the top-left corner of the screen. Then, select Settings and scroll down to the Bank Accounts section. Tap on Add a Bank Account and enter all of the required information.
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Plaid login to your bank and update your account
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