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Bank Integration
Connecting Your Bank

Connect Your Bank Account via Plaid

Overview

Connect your Canadian bank accounts securely to Akili Apps using Plaid integration. Automatically sync transactions, save hours of manual entry, and never miss tracking an expense.

What You'll Learn

  • How Plaid integration works
  • Step-by-step bank connection process
  • Supported Canadian financial institutions
  • Security and privacy considerations
  • Troubleshooting connection issues
  • Managing multiple bank accounts

What is Plaid?

Plaid is a secure, industry-leading platform that connects your bank accounts to apps like Akili Apps.

Key benefits:

  • ✅ Bank-level encryption
  • ✅ Read-only access (we can't move money)
  • ✅ Supports 10,000+ financial institutions
  • ✅ Used by millions of Canadians
  • ✅ Trusted by apps like Venmo, Mint, Coinbase

Security:

  • Your banking credentials are never shared with Akili Apps
  • Plaid uses OAuth and 256-bit encryption
  • We never see your username or password
  • Connections can be revoked anytime

Available on: Professional and Growth plans

Supported Canadian Banks

Major Banks (All Supported)

  • ✅ Royal Bank of Canada (RBC)
  • ✅ TD Canada Trust
  • ✅ Scotiabank
  • ✅ Bank of Montreal (BMO)
  • ✅ CIBC
  • ✅ National Bank of Canada
  • ✅ Desjardins
  • ✅ Tangerine
  • ✅ Simplii Financial
  • ✅ HSBC Canada

Credit Unions

  • ✅ Most Canadian credit unions supported
  • ✅ Vancity, Coast Capital, Meridian, and 100+ others

Online Banks

  • ✅ EQ Bank
  • ✅ Alterna Bank
  • ✅ Motive Financial
  • ✅ Oaken Financial

Business Accounts

  • ✅ Business checking accounts
  • ✅ Business credit cards
  • ✅ Business savings accounts
  • ✅ Business lines of credit

Not sure if your bank is supported? Search during the connection process—if it appears, it's supported!

Connecting Your First Bank Account

Prerequisites

Before you begin:

  • ✅ Professional or Growth plan subscription
  • ✅ Your online banking username/password
  • ✅ Access to 2FA device (if bank requires)
  • ✅ Know which accounts to connect

Step-by-Step Connection

Step 1: Navigate to Bank Integration

  1. Go to Settings > Bank Integration
  2. Or click "Connect Bank" from dashboard
  3. Bank connection page opens

Step 2: Click "Connect Bank Account"

  1. Click the "+ Connect Bank Account" button
  2. Plaid connection window opens
  3. You'll see "Securely connect your bank"

Step 3: Search for Your Bank

  1. Search bar at top
  2. Type your bank name
  3. Select your financial institution from results
  4. If multiple branches, choose yours

Example searches:

  • "TD" → TD Canada Trust
  • "Royal Bank" → RBC
  • "Scotiabank"
  • "Credit Union" → List of credit unions

Step 4: Enter Banking Credentials

  1. Username/Card number - Your online banking login
  2. Password - Your online banking password
  3. Click "Submit" or "Continue"

Important: You're entering credentials directly into Plaid's secure form, not Akili Apps.

Step 5: Complete Two-Factor Authentication

If your bank uses 2FA (most do):

  1. Choose verification method:
    • Text message (SMS)
    • Phone call
    • Email
    • Security question
    • Authenticator app
  2. Enter verification code
  3. Click "Verify"

Step 6: Select Accounts to Connect

  1. List of your accounts appears:
    • Checking accounts
    • Savings accounts
    • Credit cards
    • Lines of credit
  2. Select which accounts to sync:
    • ☑ Business Checking
    • ☑ Business Credit Card
    • ☐ Personal Savings (uncheck if personal)
  3. Click "Connect Selected Accounts"

Tip: Only connect business accounts. Personal accounts can be connected but should be filtered when creating expenses.

Step 7: Success!

  1. Confirmation message: "Bank connected successfully"
  2. Initial sync begins (may take 1-2 minutes)
  3. Transactions appear in Bank Transactions page
  4. Dashboard updated with new data

What Happens After Connection?

Initial Sync:

  • Last 90 days of transactions imported
  • Transactions marked as "Pending Review"
  • No expenses created automatically (you review first)

Ongoing Sync:

  • Automatic daily sync
  • New transactions appear within 24 hours
  • Email notification when new transactions available

Bank Balance:

  • Current balance displayed
  • Updated with each sync
  • Helps with reconciliation

Connecting Multiple Banks

You can connect:

  • Multiple banks (TD + RBC)
  • Multiple accounts at same bank
  • Credit cards from different issuers
  • Business and personal accounts (separate them with labels)

To add another bank:

  1. Go to Settings > Bank Integration
  2. Click "+ Connect Another Bank"
  3. Repeat connection process
  4. All accounts listed in one place

Managing Connected Accounts

View Connected Accounts

Settings > Bank Integration

See all connected accounts with:

  • Bank name and logo
  • Account type (Checking, Credit Card, etc.)
  • Last 4 digits of account number
  • Current balance
  • Last sync time
  • Connection status

Account Nicknames

Rename accounts for easy identification:

  1. Click account name
  2. Click "Edit Nickname"
  3. Enter friendly name:
    • "Business Checking"
    • "Company Visa"
    • "Operations Account"
  4. Save

Sync Settings

Per-account settings:

  1. Auto-sync frequency:

    • Daily (recommended)
    • Manual only

  2. Auto-categorize:

    • Enable AI categorization
    • Suggest matches to existing expenses
    • Create expenses automatically (with approval)

  3. Notifications:

    • New transactions alert
    • Sync errors
    • Low balance warnings

Pausing a Connection

Temporarily stop syncing:

  1. Open account settings
  2. Toggle "Pause Sync"
  3. Connection remains but no new transactions pulled
  4. Resume anytime

Use cases:

  • Traveling and using personal cards
  • Seasonal business accounts
  • Temporarily inactive accounts

Disconnecting a Bank

Permanently remove connection:

  1. Open account settings
  2. Click "Disconnect Account"
  3. Choose what happens to synced transactions:
    • Keep existing transactions (recommended)
    • Delete all synced transactions (careful!)
  4. Confirm disconnection

Note: You can reconnect the same bank anytime.

Security & Privacy

How Plaid Protects You

Authentication:

  • Multi-factor authentication required
  • Same security as your bank's website
  • Session timeouts for inactivity

Encryption:

  • 256-bit encryption in transit
  • TLS 1.2+ protocol
  • Data encrypted at rest

Access:

  • Read-only access to accounts
  • Cannot initiate transactions
  • Cannot move money
  • Cannot change account settings

Akili Apps Never Sees

  • ❌ Your banking username or password
  • ❌ Your 2FA codes
  • ❌ Your security questions
  • ❌ Full account numbers

What Akili Apps Receives

  • ✅ Transaction history (dates, amounts, merchants)
  • ✅ Account balance (current)
  • ✅ Account type and last 4 digits
  • ✅ Account holder name

Revoking Access

From Akili Apps:

  1. Disconnect account (as shown above)
  2. Connection severed immediately

From Your Bank:

  1. Log into your online banking
  2. Go to Security Settings
  3. Find "Connected Apps" or "Third-Party Access"
  4. Revoke Akili Apps/Plaid access

From Plaid:

  1. Visit my.plaid.com
  2. Log in with your Plaid account
  3. View all connections
  4. Revoke any connection

Troubleshooting Connection Issues

Common Issues & Solutions

"Unable to connect to bank"

  • Check bank is supported (search for it)
  • Verify online banking is enabled
  • Try different browser
  • Check bank's website is accessible

"Invalid credentials"

  • Verify username/password are correct
  • Check caps lock is off
  • Reset banking password if forgotten
  • Try connecting from your bank's website first

"2FA failed"

  • Ensure device receiving codes is nearby
  • Check phone signal/internet
  • Request new code
  • Try different 2FA method

"Connection timed out"

  • Bank servers may be down
  • Wait 30 minutes and retry
  • Check bank's service status page
  • Try during off-peak hours

"Account locked"

  • Too many failed login attempts
  • Contact your bank to unlock
  • Wait 30-60 minutes and retry
  • Use bank's password reset

"Some accounts missing"

  • Not all account types supported
  • Check if accounts are joint accounts (may not appear)
  • Business vs. personal restrictions
  • Contact support for help

Getting Help

Akili Apps Support:

Plaid Support:

  • For connection issues: plaid.com/support
  • Usually resolved by Akili Apps support first

Tips & Best Practices

  • Connect business accounts only - Keep personal separate
  • Use nicknames - Easy identification of accounts
  • Enable auto-sync - Daily sync keeps data current
  • Review regularly - Check synced transactions weekly
  • Update credentials - If you change banking password, update in Akili Apps
  • Multiple accounts - Connect checking AND credit cards
  • Test first - Connect one account, verify it works, then add more
  • Secure your Akili Apps account - Enable 2FA on your account too

Common Questions

Q: Is my banking information secure? A: Yes! Plaid uses bank-level encryption and your credentials are never shared with Akili Apps. It's as secure as online banking.

Q: Can Akili Apps move money from my account? A: No! Connection is read-only. We can only view transactions, not initiate any.

Q: How often do transactions sync? A: Daily automatic sync. Manual sync available anytime by clicking "Sync Now".

Q: What if my bank isn't listed? A: Contact support@akiliapps.com. We can request Plaid add your bank.

Q: Do I need to reconnect after changing banking password? A: Yes, you'll need to update credentials in Akili Apps after changing your bank password.

Q: Can I connect business accounts from a bank where I also have personal accounts? A: Yes! During connection, select only your business accounts.

Q: What happens if my connection expires? A: You'll receive an email notification. Simply reconnect by entering your current banking credentials.

Q: Are there any fees from my bank for connecting? A: No, banks don't charge for read-only third-party access via Plaid.

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Need More Help?

Contact support at support@akiliapps.com or use the live chat in the bottom right corner of the app.

IndexSyncing Transactions