Bank Integration with Plaid

RightOffs uses Plaid, a secure service trusted by thousands of apps, to connect your bank accounts and automatically import transactions.

What is Plaid?

Plaid is a technology platform that enables applications to connect with users' bank accounts. It's used by popular apps like Venmo, Coinbase, and Robinhood.

Security Features

• Bank-level encryption: 256-bit encryption
• Read-only access: Can't move money
• Token-based: No password storage
• SOC2 certified: Regular security audits

Connecting Your First Bank

Step 1: Start Connection

1. Go to Settings > Bank Connections
2. Click "Add New Bank"

Step 2: Find Your Bank

• Search by bank name
• Browse popular banks
• Over 12,000 institutions supported

Step 3: Enter Credentials

• Use online banking username/password
• Same credentials as bank website
• May require 2FA verification

Step 4: Select Accounts

Choose which accounts to sync:

• Checking accounts
• Savings accounts
• Credit cards
• Business accounts

Step 5: Confirm Connection

• Review permissions
• Confirm account selection
• Start initial sync

Managing Connected Banks

View Connected Accounts

In Settings > Bank Connections, see:

• Institution name
• Account types
• Last sync time
• Connection status
• Account balances

Sync Settings

Transactions sync automatically:

• Automatic updates throughout the day
• Manual sync available on demand
• Click "Sync Now" to trigger immediate sync

Connection Health

Monitor connection status:

• 🟢 Healthy: Working normally
• 🟡 Attention: May need re-authentication
• 🔴 Error: Action required

Troubleshooting Connection Issues

Common Issues and Solutions

"Connection Failed"

• Verify credentials are correct
• Check if bank requires app password
• Try again in incognito mode
• Bank may be temporarily unavailable

"Re-authentication Required"

Happens when:

• Bank password changed
• Security questions updated
• Bank requires periodic re-login

Solution:

1. Click "Fix Connection"
2. Re-enter credentials
3. Complete any 2FA

"Account Not Found"

• Account may be closed
• Account type not supported
• New account not yet visible

"Duplicate Transactions"

• Check date range settings
• Review import settings
• Contact support for deduplication

Supported Banks

Major Banks

• Chase
• Bank of America
• Wells Fargo
• Citi
• US Bank
• PNC
• Capital One
• TD Bank

Credit Cards

• American Express
• Discover
• Mastercard
• Visa
• Store cards

Online Banks

• Ally
• Marcus
• Chime
• Varo
• Simple

Credit Unions

• Navy Federal
• State Employees'
• Local credit unions

Business Banks

• BlueVine
• Novo
• Mercury
• Brex

Transaction Import Process

Initial Import

First connection imports:

• Last 2 years of transactions
• All available transaction details
• Merchant information
• Categories from bank

Ongoing Sync

After initial import:

• Daily automatic updates
• New transactions appear
• Updates to pending transactions
• Balance reconciliation

AI Classification

RightOffs uses AI to help categorize your transactions:

• Suggests categories based on merchant name
• Learns from your industry selection
• You review and confirm classifications

Privacy and Security

What We Access

• Transaction history
• Account balances
• Account numbers (masked)
• Merchant names

What We Don't Access

• Cannot move money
• Cannot change settings
• No access to full account numbers
• No access to other bank services

Data Storage

• Encrypted at rest
• Encrypted in transit
• Regular security audits
• Privacy compliant

Multiple Bank Accounts

Adding Additional Banks

Pro plan includes up to 3 bank connections:

1. Click "Add Another Bank"
2. Follow connection process
3. Manage all in one place

Additional bank accounts beyond the first 3 are $2/month each.

Founder's Access includes unlimited bank connections at no extra cost.

Disconnecting Banks

Removing a Connection

To disconnect a bank:

1. Go to Settings > Bank Accounts
2. Find the bank you want to remove
3. Click "Remove" or "Disconnect"
4. Confirm removal
5. Historical data is retained for your records

Best Practices

Regular Maintenance

• Check connections monthly
• Update changed passwords
• Review sync settings
• Verify transaction accuracy

Organization Tips

• Use consistent naming
• Group similar accounts
• Archive old accounts
• Document account purposes

FAQ

Is it safe to connect my bank? Yes, we use bank-level encryption and read-only access through Plaid.

Can RightOffs access my money? No, we only have read-only access to view transactions.

What if my bank isn't supported? You can still use manual transactions to track expenses. Over 12,000 institutions are supported.

How often do transactions sync? Transactions sync automatically throughout the day. You can also trigger a manual sync anytime.

Next Steps

• Managing Transactions
• Understanding Categories
• Generating Reports