should i give plaid my bank login

Plaid is a type of software that can transfer your bank account information to other financial institutions, creditors and apps.That includes any rogue employees of theirs or any hacker that breaks into their system.It’s a system used by most personal finance apps, like venmo, robinhood and acorns.Advanced encryption plaid encrypts any data you exchange between your app and bank account.Our goal is to work with these financial institutions to enable access to your financial data so you can use the tools you rely on to manage your money.

We store those credentials and use them to access and obtain information from your financial institution in order to provide that information, at your direction, to the apps and services you want to use.We all have used mfa when providing otp sent to our phones to sign into our net banking.How to set up a plaid account and link bank account in the following steps, you will be able to understand how to use plaid:Learn why plaid is involved.How we handle your data

Apparently there are different options for providing banking credentials to plaid to set things up:They use it for 2fa to log into my.plaid.com.As a result, anyone trying to intercept your data is bound to fail.Plaid is a fintech company that facilitates communication between financial services apps and users’ banks and credit card providers.According to the plaid website, the company uses these measures to keep your information secure:

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