Privacy-first Plaid alternative that doesn't require your bank login

Skwad offers a more reliable, secure path

Stop the endless cycle of re-linking accounts and sharing sensitive bank logins. Experience automated financial tracking built on a foundation of reliability and privacy.

Start your 15-day free trial!

Convenience vs. Constant headaches

Many popular budgeting apps promise effortless financial tracking. They connect directly to your bank accounts, often using services like Plaid to pull your transactions automatically. It sounds great, in theory.

But if you've used these apps, you likely know the reality:

Constant connection failures

"Sync Error." "Please Re-authenticate." "Connection Temporarily Unavailable." Sound familiar? The links established by aggregators like Plaid are notoriously fragile. Banks update their security, change their websites, or block aggressive connections, and poof – your financial feed breaks, leaving you scrambling to fix it, often repeatedly.

The nagging security concern

To make connections work, you must hand over your bank username and password – the keys to your financial life – to Plaid. Does sharing your most critical credentials feel safe in an age of constant data breaches? To make matters worse, many banks only work with Plaid when you disable 2FA.

You're faced with a difficult choice: battle unreliable connections and accept significant security risks for automation, or resort to tedious manual spreadsheet tracking.
At Skwad, we believe you shouldn't have to compromise.

Problem 1: Unreliable connections

The aggregator Achilles' heel

❌ Why Plaid (and similar services) break

Rely on accessing bank websites/APIs that frequently change
Connections break with bank security updates or interface changes
Struggle with new authentication steps like 2FA challenges
Result in frequent sync errors requiring manual fixes
Cause re-authentication fatigue (constantly reentering passwords)
Deliver delayed data that isn't truly real-time
Sometimes drop support for certain banks entirely

✅Skwad bypasses the fragile middleman

Utilizes the secure transaction and balance email alerts your bank already sends
Gets data directly from your bank's established notification system
Email systems are highly stable and less prone to breaking
Provides near real-time updates as soon as your bank sends an alert
No re-authentication needed once email forwarding is set up
Secure file uploads available as a reliable alternative
Results in a significantly more stable financial feed

Problem 2: The security gamble

The risks of sharing bank logins

❌ The fundamental risk (Plaid & similar)

Requires sharing your bank username and password
Aggregators holding millions of credentials are prime hacker targets
Violates most banks' Terms of Service
May void your bank's fraud protection
Often grants access to more data than necessary
Provides little granular control over what's accessed

✅ Skwad's email scans: security through separation

Never requires your bank login credentials
Immune to bank credential breaches
Keeps you compliant with your bank's terms
Minimizes data exposure to only what's in alerts or uploaded files
Gives you explicit control over data flow
Lets you revoke access instantly by stopping forwards/uploads

Skwad vs. Plaid-powered apps: why Skwad wins

Feature	Skwad (via Email/Uploads)	Plaid-Powered Apps	Why Skwad is Better
Reliability	High	Variable/Low	Avoids fragile aggregator layer for consistent updates
Security	Very High	Moderate/Lower	Does not require sharing bank logins
Bank ToS	Compliant	Often Violates	Keeps you compliant with bank security terms
Data Access	Controlled	Broad	Minimizes exposure; you control information flow
Re-auth Fatigue	None	High	No constant re-entering of passwords and 2FA codes

Choosing Skwad means choosing:

✓Peace of Mind: No more worrying about broken syncs or security risks
✓Consistent Access: A reliable, up-to-date view of your finances
✓True Privacy: Keeping your sensitive bank credentials private
✓Control: You decide what financial data is shared

Frequently asked questions: Skwad vs. Plaid & security

Does Skwad use Plaid at all?

Skwad's primary, recommended, and most secure method for automated tracking relies on bank email alerts and secure file uploads – this does NOT involve Plaid. We offer optional, direct bank linking via SimpleFIN (which uses MX - an aggregator service similar to Plaid) only as a secondary alternative for accounts without email alerts or accounts with Oauth.

Skwad is considerably cheaper when you go with the aggregator-free approach.

Is relying on email alerts really secure? Can't email be hacked?

It's significantly more secure than sharing bank logins. While email accounts can be compromised (use strong passwords and 2FA!), the content of a bank alert (e.g., "You spent $50 at Store X") is far less damaging than exposing your actual bank login credentials, which grants full access.
Furthermore, Skwad deletes alerts 24 hours after Skwad receives and processes them.

What if my bank doesn't offer good email alerts?

Many banks offer customizable alerts. Check your online banking portal first. If alerts are insufficient or unavailable, you can reliably use Skwad by downloading standard transaction files (CSV, OFX, QFX) directly from your bank and securely uploading them to Skwad. This still avoids sharing logins and leverages Skwad's powerful categorization and analysis features.

If Skwad doesn't use my login, how does it categorize my transactions?

Skwad uses AI and Natural Language Processing to parse the information in email alerts or uploaded files (like merchant names, amounts, dates, and descriptions). It compares this data against extensive databases to categorize transactions accurately and automatically using your custom categories.

Is Skwad replacing Plaid?

Skwad is a budgeting app offering a different, more secure method for connecting to your financial data than apps that rely solely on aggregators like Plaid.
Our email/upload method is a superior alternative for users prioritizing reliability and security.

Break free from unreliable connections and security risks

Choose the smarter, safer way to automate your finances. Experience the peace of mind that comes with Skwad's reliable, secure, passwordless budgeting.

Try Skwad Free for 15 Days - No Bank Login Required!