This article will highlight Plaid’s privacy practices, security protocols, and a general overview of how Plaid works. But these details are generally safe with Plaid, and we’ll explain why. You will need to provide your bank login credentials to Plaid so that Plaid can securely access and transmit information on your behalf to the various fintech apps you may use. However, when allowing any third-party platforms to access your financial accounts, you should always take steps to guarantee the protection of your sensitive data. While convenience is key, the more important consideration is: is Plaid safe? Plaid was built with safety top of mind to allow financial apps that you commonly use to access your accounts on a secure, need-to-know basis. With this connection, Privacy customers can generate instant card numbers when making purchases online. For example, Plaid enables virtual card services like Privacy to securely and seamlessly connect funding sources to user accounts. With Plaid acting as the intermediary, financial apps are given limited access to your bank account details and are granted only the relevant information required to carry out functions that you’ve authorized. Plaid is a payments platform that enables you to securely connect your financial accounts to other apps. So, you’ve seen it and may have already used it, but what is Plaid? In fact, according to Plaid, roughly 25% of US adults have used their service. If you’ve used apps like Privacy, Venmo, or Acorns, you’ve likely heard of Plaid.
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