Money glossary
Plaid
Plaid is a company that securely connects apps to your bank accounts, so budgeting apps can see balances and transactions with your permission.
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What is Plaid?
Plaid is a financial data company that connects apps to your bank, card, loan, and investment accounts. When an app asks you to "connect your bank," a Plaid window often opens, you sign in to your bank, and the app receives your balances and transactions. Plaid connects to more than 12,000 financial institutions, per OpenAI's help article on Finances in ChatGPT.
Key takeaways
- Plaid sits between your bank and apps like budgeting tools.
- The app gets your account data, not your bank password.
- Fifecta and Finances in ChatGPT both use Plaid to connect accounts.
How Plaid works
- An app opens Plaid Link.
- You pick your bank and sign in.
- You choose which accounts to share.
- The app receives data like balances and transactions, and can refresh it.
You can review and remove connections at my.plaid.com.
Why it matters for your Money Type
A Spender usually doesn't know where the money went until it's gone. Automatic syncing means your transactions show up without you tracking every swipe.
Common questions
Does Plaid see my password?
You enter your bank login in Plaid's window, and some banks send you to their own site to sign in instead. Either way, the app you're using gets data, not your password.
Can I disconnect Plaid?
Yes. Remove the connection in the app, and you can also manage connections at my.plaid.com.
Related terms
Your next step
Same numbers, different next move
Knowing the word is step one. Two people can read the same definition and need totally different first moves. Your Money Type tells you yours.
