Connecting Your Bank with Plaid

Balance uses Plaid to securely connect your bank accounts. Plaid is trusted by over 11,000 financial apps and provides bank-level security for your data.

What is Plaid?

Plaid is a secure service that connects Balance to your bank. It:

• Never stores your banking password - Used only once for authentication
• Encrypts all data - Bank-level 256-bit encryption
• Read-only access - Can’t move money or make changes
• Trusted globally - Used by Venmo, Robinhood, and major financial apps

How to Connect Your Bank

Step 1: Start the Connection

1. Go to the Accounts tab
2. Tap the NEW button (shown in screenshot)
3. The Plaid interface will open

On Mobile: Opens in a secure browser window
On Web: Opens in a popup window

Step 2: Search for Your Bank

1. Type your bank’s name in the search box
2. Select your bank from the results
3. Tip: Search by your bank’s common name (e.g., “Chase” not “JPMorgan Chase”)

Can’t find your bank? Try:

• Different name variations
• Parent company name
• Credit union full name
• See Supported Banks

Step 3: Log In

1. Enter your online banking username
2. Enter your online banking password
3. Click “Submit” or “Continue”

Important Notes:

• Use the same credentials for your bank’s website/app
• Balance never sees or stores this password
• Plaid uses it once to establish the connection

Step 4: Multi-Factor Authentication

If your bank requires it, you’ll be asked to verify:

Common verification methods:

• Text message code
• Email code
• Security questions
• Bank app approval
• Call from bank

Enter the verification when prompted.

Step 5: Select Accounts

1. You’ll see a list of your accounts
2. Check the accounts you want to connect:
   • ☑ Checking accounts
   • ☑ Savings accounts
   • ☑ Credit cards
   • ☐ Investment accounts (if supported)
3. Click “Continue”

Tip: Connect all accounts you want to track in your budget.

Step 6: Complete Connection

1. You’ll return to Balance automatically
2. Your accounts will appear in the Accounts tab
3. Transactions will begin syncing (takes 1-2 minutes)
4. You’ll see “Connected” status on your accounts

What Happens After Connecting

Initial Sync

After connection, Balance will:

• Import up to 90 days of transaction history
• Download current account balances
• Set up automatic daily syncing
• Show accounts in the Accounts tab

First sync may take 2-5 minutes.

Ongoing Syncing

Balance automatically syncs:

• 1-2 times per day - New transactions
• Account balances - Updated daily
• Pending transactions - When they clear

Note: You can manually refresh by pulling down on the Transactions tab.

Connection Types

Instant Authentication

Most banks support instant connection:

• Enter username and password
• Complete any 2FA
• Accounts connect immediately
• Transactions sync within minutes

Manual Verification (Micro-deposits)

Some banks require micro-deposit verification:

1. Balance deposits 2 small amounts (less than $1)
2. Check your bank in 1-2 business days
3. Return to Balance and enter the amounts
4. Connection is verified

This method is rare but secure.

Multiple Bank Accounts

You can connect accounts from:

• Multiple banks
• Multiple credit unions
• Multiple credit cards
• All in one Balance account

Example Setup:

• Chase checking (primary)
• Bank of America savings
• Capital One credit card
• Local credit union checking
• Discover credit card

Account Limits:

• Premium plans: Up to 10 accounts
• See Account Limits

Security and Privacy

Your Data is Safe

• Encryption: 256-bit encryption (same as banks)
• Read-only: Balance can only view, never transfer money
• No password storage: Passwords never saved
• Secure servers: Bank-grade security infrastructure
• Privacy: Your data is never sold

What Balance Can See

✅ Transaction descriptions
✅ Transaction amounts
✅ Account balances
✅ Account names

What Balance Cannot Do

❌ Move money
❌ Make purchases
❌ Change account settings
❌ See full account numbers
❌ Access your password

Troubleshooting Connection Issues

Common Issues

“Invalid Credentials”

• Double-check your username and password
• Try logging into your bank’s website first
• Make sure caps lock is off
• Reset your banking password if needed

“Connection Failed”

• Check your internet connection
• Try again in a few minutes
• Your bank might be experiencing issues
• Contact support if it persists

“Bank Not Supported”

• See Supported Banks
• Some small credit unions may not be available
• Contact us to request your bank

“Connection Timed Out”

• Your bank might be slow to respond
• Try during off-peak hours
• Check if your bank’s website is working

Getting Help

Can’t connect? Try:

1. Bank Connection Troubleshooting
2. Contact Support with:
   • Bank name
   • Error message
   • Screenshot (if possible)

Best Practices

Choosing Accounts

Do connect:

• Primary checking account
• Savings accounts
• Credit cards you use regularly
• Joint accounts with your partner

Consider not connecting:

• Investment accounts (unless daily tracking needed)
• Inactive accounts
• Business accounts (if separating personal/business)

Account Organization

Tips:

• Connect personal accounts first
• Add credit cards to track all spending
• Use account settings to hide transaction from specific accounts
• Keep account names recognizable

Maintenance

Monthly:

• Check for disconnected accounts
• Reconnect if needed
• Remove unused accounts
• Verify balances are correct

Next Steps

After connecting your bank:

1. Categorize Transactions - Assign categories
2. Account Transaction Visibility - Control what you see
3. Managing Connected Accounts - Edit and remove accounts
4. Set Up Your Budget - Create categories

Need help? Contact our support team - we’re here to assist!