Most budget apps want your bank login. Here's why you might want to say no.
How Bank Linking Works
- You enter bank credentials
- Credentials go to Plaid, Yodlee, or similar
- They log in as you
- They scrape your transaction data
- Data is sent to the app
The Risks
Data Breaches
More companies with your data = more breach risk. Plaid and banks have both been breached.
Terms of Service
Read the fine print. Many apps can use your data for "product improvement" and "partner offers."
Credential Exposure
Even with encryption, your login passes through third parties.
Account Access
Some aggregators have write access, not just read. A bug could be catastrophic.
The Alternative
Manual tracking with Pocket Clear:
- No credentials shared
- No third-party access
- Data stays on your device
- You control everything
It takes 30 seconds per transaction. That's a small price for peace of mind.
Start Tracking Together
Download Pocket Clear free. Simple expense tracking for couples and expats.