We built Skwad on a simple premise: you shouldn't have to share your bank password to manage your money. Our email scanning approach pioneered a privacy-first way to track transactions that thousands of users have embraced. But we also heard from users who wanted the convenience of automatic bank syncing, done securely and done right.

Today, we're announcing Plaid integration for Skwad, giving you a new option for connecting your bank accounts directly to your financial dashboard. This integration brings together the best of both worlds: the convenience of automatic transaction syncing with the security practices and user control that Skwad is known for.

Why Plaid?

When we decided to offer bank linking, choosing the right partner was critical. We evaluated multiple financial data aggregators and ultimately selected Plaid for several important reasons.

Plaid connects to over 12,000 financial institutions across North America, covering virtually every bank, credit union, and financial service our users might need. Their technology handles the complex work of maintaining secure connections to thousands of different banking systems, each with its own protocols and requirements.

More importantly, Plaid has established itself as a trusted intermediary in the financial technology space. They're used by many of the financial apps you might already know, and they've invested heavily in security infrastructure, compliance certifications, and data protection measures.

That said, we recognize that bank linking isn't for everyone. Some users prefer our email-based approach for maximum privacy. Others are subject to banking agreements that prohibit credential sharing. Skwad continues to support all our syncing methods, and you can choose the approach that works best for your situation.

What Plaid Integration Means for You

If you've been manually uploading bank statements, Plaid integration offers a significant quality-of-life improvement.

Automatic Transaction Syncing

Once connected, your transactions flow into Skwad automatically. New purchases appear within hours of posting to your account, without any manual effort on your part. No more downloading statements, no more waiting for email alerts, no more manual data entry.

This automation is particularly valuable for users with multiple accounts. Instead of juggling statements from several banks and credit cards, you connect each account once and let Skwad handle the aggregation.

Balance Updates

Beyond transactions, Plaid provides account balance information that keeps your Skwad dashboard current. You'll always know where you stand across all connected accounts, making it easier to make informed spending decisions.

Balance data also powers Skwad's net worth tracking, showing how your total financial picture changes over time. Watching your net worth grow month after month is one of the most motivating aspects of financial tracking.

Historical Data Import

When you first connect an account, Plaid can pull up to 24 months of historical transaction data (availability varies by institution). This means you don't have to start from scratch. You can immediately analyze your spending patterns and set up budgets based on real data from your financial history.

For users migrating from other financial apps, this historical import smooths the transition. Your cashflow reports and trends will have meaningful data from day one.

How Skwad Handles Bank Connections

We've implemented Plaid integration with the same attention to user experience and privacy that defines all of Skwad's features.

Connecting Your First Account

Getting started is straightforward:

1. Navigate to your account settings in Skwad
2. Select "Add Connection" and choose Plaid
3. Search for your bank or credit union
4. Follow your institution's authentication process
5. Select which accounts to connect

The entire process takes just a few minutes. Plaid handles the authentication flow, which typically involves logging into your bank's secure portal. Some institutions support OAuth, meaning you authenticate directly with your bank and never share credentials with Plaid at all. Others require username and password entry through Plaid's secure interface.

Multi-Factor Authentication Support

Modern banking security often requires more than just a password. Your bank might send verification codes via SMS, require answers to security questions, or use authenticator apps.

Plaid supports these multi-factor authentication methods. When your bank requires additional verification, Plaid prompts you through the process. This ensures your accounts stay secure while still enabling the convenience of automatic syncing.

Managing Connected Accounts

After connecting, you have full control over which accounts appear in Skwad. Perhaps you want to track your checking and credit card but not your savings account. Or maybe you want to separate personal and business accounts. You choose exactly what data flows into your Skwad dashboard.

You can also disconnect accounts at any time. When you remove a connection, Skwad stops receiving new data from that account. Your historical transactions remain in Skwad for reporting purposes unless you explicitly delete them.

Privacy and Security Considerations

We know that connecting bank accounts raises legitimate security questions. We've designed our Plaid integration with these concerns in mind.

How Your Data Flows

When you connect an account through Plaid, here's what happens behind the scenes:

1. You authenticate with your bank through Plaid's secure interface
2. Plaid establishes a connection to your bank's data feeds
3. Plaid sends transaction and balance data to Skwad
4. Skwad stores this data in your encrypted account

Your bank password is never stored by Skwad. Plaid handles credential management with their own security infrastructure, which includes encryption, secure storage, and regular security audits.

Your Rights and Controls

You maintain control over your financial data:

• Revoke access anytime: You can disconnect accounts from within Skwad or directly through Plaid's portal
• Delete your data: If you leave Skwad, you can request deletion of all your financial data
• Granular permissions: Choose which accounts to connect; you're never forced to share everything

We don't sell your financial data or share it with third parties for marketing purposes. Your transactions are your business, not ours to monetize.

When Bank Linking Might Not Be Right for You

Bank linking through any provider, including Plaid, involves some inherent considerations:

Terms of service: Some banking agreements technically prohibit sharing credentials with third parties. While enforcement is rare, you should review your bank's terms if this concerns you.

Data aggregation risks: Any system that aggregates financial data creates a potential target. Both Plaid and Skwad take security seriously, but no system is perfectly immune to breaches.

Institution support: While Plaid covers most major institutions, some smaller banks or credit unions may not be supported, or may have unreliable connections.

If these considerations make you uncomfortable, Skwad's email scanning feature provides an alternative that doesn't require sharing credentials. You can also manually import transactions from bank statements for complete control.

Plaid on Skwad LINK

Plaid integration is available as part of the Skwad LINK plan. LINK subscribers get unlimited Plaid connections at no additional cost, making it easy to connect all your accounts regardless of how many banks you use.

For users on the DIY plan who want bank linking without upgrading, SimpleFIN remains available as a separate subscription option. SimpleFIN is powered by MX and supports over 16,000 institutions with a different pricing model.

Comparing Your Options

Feature	Email Scans	Plaid (LINK)	SimpleFIN
Credentials shared	No	Yes (to Plaid)	Yes (to MX)
Setup	One-time forwarding	One-time connection	One-time connection
Transaction delay	Minutes (after email)	Hours	Hours
Historical data	None	Up to 24 months	Up to 90 days
Institutions	Any with email alerts	12,000+	16,000+
Cost	Included in all plans	Included in LINK	Separate subscription

Each approach has strengths depending on your priorities. Many users combine methods, using Plaid for their primary accounts and email scanning for institutions that don't connect well.

How We Handle Connection Issues

Bank connections aren't always smooth sailing. Institutions change their systems, require re-authentication, or experience temporary outages. We've built Skwad to handle these situations gracefully.

Automatic Reconnection

When a connection needs attention, usually for re-authentication, Skwad notifies you and walks you through the reconnection process. Most issues resolve with a quick re-login to your bank.

Connection Status Monitoring

Your account dashboard shows the status of each connected institution. Green means everything is syncing normally. Yellow indicates the connection needs attention. This visibility helps you stay on top of any issues before they cause gaps in your transaction history.

Preserving Your Data

When connections hiccup, your existing data remains safe. We handle connection issues at the sync level, not the data level. Once you resolve the connection issue, syncing resumes and backfills any transactions that occurred during the disruption.

Handling Bank-Side Changes

One challenge unique to Plaid users involves how banks sometimes modify transactions after they've been posted. A pending charge might update with a different merchant name, or a transaction might be removed entirely as part of bank-side corrections.

Rather than silently deleting transactions you've already categorized and included in your budget, Skwad flags these changes. Transactions removed by your bank get tagged with "Removed by connection" so you can identify external changes affecting your trends and budgets.

Getting Started with Plaid

Ready to connect your accounts? Here's how to begin:

1. Upgrade to LINK if you're not already subscribed
2. Navigate to Connections in your Skwad settings
3. Click "Add via Plaid" to start the connection flow
4. Search for your bank and follow the authentication prompts
5. Select accounts you want to sync

Most connections complete in under two minutes. Once connected, transactions begin syncing immediately, with historical data following shortly after.

Tips for a Smooth Setup

Have your bank login ready: You'll need your online banking credentials for each institution you want to connect.

Start with your most active accounts: Credit cards and checking accounts with frequent transactions provide the most value from automatic syncing.

Review transaction mappings: After initial sync, spot-check that transactions are appearing correctly. Occasionally, transaction descriptions may differ from what you see on your bank's website.

Set up categories: Make sure your category structure is ready to receive the incoming transactions. Skwad's auto-categorization will handle most classification automatically.

The Future of Skwad Connections

Plaid integration is our latest step in making financial tracking as effortless as possible. We continue to evaluate additional connection methods and partners to serve users across different countries and banking systems.

Our commitment to choice remains unchanged. Whether you prefer email scanning for maximum privacy, bank linking for maximum convenience, or manual imports for complete control, Skwad supports your preferred approach. You're in charge of your financial data.

For those who've been waiting for bank linking in Skwad, the wait is over. Connect your accounts today and experience the convenience of automatic transaction syncing with an app that respects your privacy and puts you in control.