At River, we take the security of your sensitive information seriously. River uses Plaid because it’s a secure and trusted way to link your bank account. Instead of sharing your login details directly with us, you connect through your bank using Plaid’s encrypted flow. This protects your banking credentials and ensures your data stays safe.
Using Plaid is not only faster than the older method of test deposits, but it’s also more secure. If you’ve used other financial services apps like Venmo or Robinhood to link your bank, you’re probably familiar with Plaid.
How does Plaid connect to my bank account?
Plaid makes it simple to link your bank account to River. Once you choose your bank, you’ll be redirected to your bank’s website. Your banking login credentials are never seen or stored by River. Instead, they are encrypted and used by Plaid only to instantly verify your bank account.
Does Plaid store my bank account credentials?
For most bank accounts, Plaid does not store your bank account credentials. Typically, Plaid uses a secure method called OAuth. This means you’re sent directly to your bank’s website or app to log in, and Plaid never sees your username or password.
In a few cases, your bank may not support OAuth and connect to Plaid using their API. If that happens, Plaid may ask you to enter your login details within its secure flow. Even then, your information is encrypted and never stored by Plaid.
You can read more about how Plaid keeps your data safe on their safety page. According to Plaid’s privacy policy, they won’t share your data without your permission. They also don’t sell or rent your financial information.
What data does River receive when I link my bank account through Plaid?
When you connect your bank account via Plaid, River gets certain information from your bank, like your account number and balance. This helps River protect you from fraud and makes sure that you own the account and have sufficient funds.
River does not share any of your personal data with Plaid. Plaid does not have access to your River account, and they cannot see any details such as your bitcoin balance or trading activity.
You can disconnect your bank account at any time by managing your connected bank accounts on River.