Full transaction sync is coming soon to SocialSpend+. Here is exactly how it will work and how your money and data stay safe, before you decide to turn it on.
Read-only
Sync can only read transactions. It can never move money, make payments or change anything at your bank.
We never see your bank login
You sign in to your bank inside Plaid’s secure screen. Your username and password never reach SocialSpend.
Encrypted everywhere
Encrypted in transit and at rest, with the connection key encrypted again by us before it is stored.
Disconnect any time
One tap removes the connection and deletes everything it imported.
What is Full transaction sync?
It brings in every purchase from the cards and accounts you choose, as it happens: online, in-app and in-store, already sorted into categories. No typing, nothing to remember. It is coming soon and will be included with SocialSpend+.
How does it connect to my bank?
Through
Plaid, the service many well-known finance apps use to connect to banks. When you turn sync on, Plaid opens a secure screen where you pick your bank and sign in to it. Plaid then gives SocialSpend read-only access to your transactions, and nothing more.
Does SocialSpend see or store my bank username and password?
No. You type them into Plaid's screen, never into SocialSpend, and we never receive them. What we get back is a connection key that only works for reading transactions, and only from our own servers.
Can SocialSpend move money or make payments?
No. We only use Plaid's Transactions product, which is read-only. It cannot transfer money, make payments, open accounts or change anything at your bank.
What information does SocialSpend receive?
For each account you choose: the account's name and type, and its transactions (date, amount, merchant name and Plaid's category). We do not receive full account or routing numbers, and we do not ask for them.
How is my data protected?
- Everything between your phone, our servers, Plaid and your bank travels over encrypted connections (TLS 1.2 or newer).
- Your data is stored in an encrypted database in the United States.
- The connection key Plaid gives us is encrypted again by SocialSpend before it is stored, so a copy of the database alone would not be enough to use it.
- Before you connect a bank, we ask you to confirm it's you with a second step (Sign in with Apple, or a one-time code sent to your email).
- Access to our systems is limited and protected with multi-factor authentication, under a written information security policy.
Who can see my transactions?
Only you. Synced purchases count toward your category totals like any other expense. Other SocialSpend+ members can see your anonymous profile, which includes rounded category totals, but never your individual purchases, merchants, name, email or income. The
Privacy Policy lists exactly what is visible.
Do you sell my data or use it for ads?
No. We never sell your personal information, there are no ads in SocialSpend, and we do not share your transactions with advertisers or data brokers.
How do I disconnect, and what happens to my data?
You can disconnect a bank in the app at any time. That removes the connection at Plaid, deletes the connection key and deletes the transactions it imported. Deleting your SocialSpend account does the same for every connected bank. You can also review and remove connections Plaid holds for you at
my.plaid.com.
What does Plaid do with my data?
Which banks will work?
At launch, banks and card issuers in the United States that Plaid supports, which covers most of them. You will see the full list when you search for your bank in Plaid's screen.
Do I have to connect my bank?
No. Sync is optional. You can keep logging in-person Apple Pay purchases automatically with our free Wallet shortcut, or add purchases by hand.
How do I report a security concern?