Security & Privacy
Your financial data deserves the highest level of protection. At Balance, we’ve built our security practices around trust, transparency, and the understanding that your money information is deeply personal.
Balance uses Plaid
We partner with Plaid, the industry standard for secure financial data connections, to ensure your bank and credit card information is protected with the same security measures used by major financial institutions.
Plaid is used by Venmo, Robinhood, and 6,000+ other apps.
What this means for you:
- 256-bit encryption for all data in transit and at rest
- Never store your bank credentials - we only access what you authorize
- Read-only access - we can see your transactions but can’t move your money
Your Data Stays Safe
Your login credentials are never seen or stored by us. All data is encrypted.
What we collect:
- Account information you choose to connect (through Plaid)
- Transaction data to help you categorize and track spending
- Profile information to personalize your experience
- Usage data to improve our service
What we never do:
- Sell your personal or financial data
- Share your information with third parties (except as required by law)
- Access your accounts without your explicit permission
- Store your bank login credentials
We Never Sell Your Info
We collect only what’s needed to give you the best Balance experience.
Privacy by Design
Your privacy isn’t an afterthought—it’s built into everything we do.
Data Minimization We only collect what we need to help you budget effectively. You can disconnect accounts or delete your data at any time.
Local Processing Much of your financial data is processed locally on your device, reducing the information that needs to be transmitted.
Regular Security Audits Our security practices are regularly reviewed to ensure we meet the highest standards.
Transparency & Trust
We’re committed to being transparent about how we protect your information:
Clear Communication
- We’ll notify you immediately if we detect any suspicious activity
- You’ll always know when and why we need to access your data
- We provide detailed privacy controls in your account settings
Your Rights
- Access: See what data we have about you
- Correction: Update or fix any inaccurate information
- Deletion: Remove your data from our systems - Learn how to delete your account
- Portability: Download your data in a standard format
Industry Standards
We follow the same security practices used by major financial institutions:
- Multi-factor authentication for all account access
- Regular security reviews to identify potential vulnerabilities
- Incident response plans for rapid threat response
Questions About Security?
We’re here to help. If you have questions about how we protect your data or want to learn more about our security practices, reach out to our team.
Your trust is everything to us. We’re committed to earning and keeping it every day.
Last updated: December 2024