At Skwad, we believe you shouldn’t have to compromise your financial data privacy for convenience. That’s why our default balance-tracking solution uses email alerts instead of requiring bank linking, allowing you to stay on top of your finances while keeping your sensitive information secure.
The risks of linking your bank accounts
When you link your bank account to third-party apps, you’re granting access to your entire financial information, including account numbers. This can leave you vulnerable to security breaches, unauthorized access, and identity theft. The more apps you link to your bank accounts, the greater the risk of your private information falling into the wrong hands. The same logic applies to your day-to-day purchases, which is why we also cover tracking spending without linking your bank.
Skwad’s bank-linking-free approach
Skwad offers a bank-linking-free alternative that puts your privacy and security first. Instead of asking for your bank login credentials, we let you keep control of your financial data while still getting automated balance tracking.
Skwad’s secure balance tracking
With Skwad, you can track your bank balances without exposing your bank passwords. Using your Skwad scan email address, you set up balance alerts with your bank and name your Skwad scan address as the recipient. Here’s how it works:
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Set up balance alerts with your bank: Log in to your online banking portal and navigate to the alerts or notifications section. Set up balance alerts to be triggered at your desired frequency (e.g., daily, weekly, or when your balance falls below a certain threshold).
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Designate your Skwad Scan email address: Enter your unique Skwad Scan email address as the recipient when setting up your balance alerts. Skwad provides this unique email address and serves as a secure channel for receiving balance updates.
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Let Skwad do the rest: Whenever your bank sends a balance alert to your Skwad Scan address, we process the information and update your account balances within the Skwad platform. This means you can view your latest balances at a glance without manually entering the data or exposing your login credentials.
The benefits of going bank-linking-free
Your sensitive financial information stays private and secure without any bank account linking. You keep full control over your data, with no risk of unauthorized access through a linked account.
You also skip manual entry. We update your balances automatically from the alerts your bank sends.
And it works across banks. Skwad’s balance tracking is compatible with many banks, so you can monitor balances from multiple accounts in one place, no matter how many banks you use.
Examples
Setting up balance alerts from Chase to Skwad
Setting up balance alerts from Capital One to Skwad
Setting up balance alerts from your bank to Skwad
The process is similar for other banks and credit cards. Set up balance alerts to your Skwad scan email address to automatically track your balances.
NOTE: Many banks offer the option to add specific email addresses to receive alerts. If your bank doesn’t have this feature, you can opt for a double-hop method. First, set up your bank to send the alerts to your primary email address. Then, you can forward those emails from your primary email address to your Skwad scan email address. Follow this guide to automatically forward transaction alerts from your email to Skwad.
Frequently asked questions
Can I track my bank balance without linking my bank?
Yes. Set up balance alerts in your online banking portal and send them to your private Skwad scan address. Skwad reads each alert and updates your balances automatically, so you never connect your account or share a password.
What if my bank only sends alerts to one email?
Use a double-hop method. First set your bank to send alerts to your primary email, then create a forwarding rule that automatically forwards those emails to your Skwad scan address.
How often do my balances update?
Your balances update whenever your bank sends an alert. You can set balance alerts to trigger daily, weekly, or when your balance crosses a threshold, depending on what your bank offers.
Privacy and security first
Know your financial data is secure, and start tracking your balances in Skwad today. If you’d rather skip aggregators entirely, see why Skwad is a budget app that works without bank linking, or learn how to budget without sharing your bank password.
