What is Plaid?
Plaid is a trusted financial technology company that securely connects your bank accounts to apps like Spendify. It's used by thousands of popular financial apps and services — chances are, you've already used Plaid without even realizing it.
Plaid acts as a secure bridge between your bank and Spendify, letting us access your transaction and balance data so we can help you track your spending and manage your finances.
How the connection works
When you link a bank account in Spendify, here's what happens behind the scenes:
You enter your bank credentials — but not in Spendify. You're directed to Plaid's secure interface (called Plaid Link), where you log in to your bank directly.
Plaid verifies your identity with your bank, handling any multi-factor authentication your bank requires.
Plaid sends Spendify a secure token — this token lets us request your financial data (like transactions and balances) without ever seeing your bank password.
Spendify receives your financial data from Plaid on an ongoing basis, keeping your accounts up to date.
Your bank credentials are never stored by Spendify
This is worth emphasizing: Spendify never sees, receives, or stores your bank username or password. Your credentials go directly to Plaid through their encrypted connection. We only receive a secure token and your financial data — never your login details.
Plaid's security standards
Plaid takes security seriously and maintains rigorous standards:
SOC 2 Type II certified — an independent audit verifying that Plaid meets high standards for security, availability, and confidentiality.
AES-256 encryption — your data is encrypted using the same standard trusted by banks and governments.
Regular security audits — Plaid undergoes ongoing reviews and penetration testing to identify and address vulnerabilities.
Bank-level infrastructure — Plaid's systems are built with the same security rigor as major financial institutions.
Managing your Plaid connection
You're always in control of your connected accounts. You can disconnect a bank account from Spendify at any time through your account settings. If you'd like to manage all your Plaid connections across different apps, you can visit my.plaid.com to review and revoke access.
Why we chose Plaid
We chose Plaid because it lets us give you a seamless bank-linking experience without compromising on security. By relying on Plaid's specialized infrastructure, we can focus on building great budgeting and spending tools — while your bank data stays protected by experts who specialize in exactly that.