Privacy and Security

Your Security and Fintech Apps

Third-party (non-TD) financial technology (fintech) apps and data aggregators often store and access your digital bank account username, password and account information to provide services that may help you manage your money, invest, borrow and send money. Find out how these apps use your data and what you can do to help protect yourself.

Get informed: fintechs and data aggregators

We know how much you value safety, security and transparency when it comes to the use of your data. That’s why we want you to understand how the financial products and services offered by fintechs and data aggregators work, what they do with your data and how you can protect yourself. We believe in supporting customer choice, but we also want you to have the right information to make an informed decision.

How fintech apps access your info

  • First, they get your login credentials

    Many fintech apps use data from a financial institution, like TD, where you have accounts. As part of the app sign-up process, fintechs—or the data aggregators they use to collect your information—may present a login screen for you to enter your banking credentials. While many of these app login screens may look like your banking login screen, it's important to know that's often not the case.

    Learn how to verify if a login screen is supported by TD

  • Next, they store your login credentials

    Once you give them your credentials, fintech apps and data aggregators may store them on their servers. This means that the safety of your bank credentials is now reliant on their security systems.

  • Then, they have access to your information

    When the fintech app or data aggregator wants your banking information, they may use your credentials to access and retrieve (screen-scrape) your account information. Certain information TD has about you—including balances, account numbers, profile information and account statements—could be retrieved by the fintech app provider.

    Learn more about screen-scraping

Your responsibility when using fintech apps

Understand your responsibilities—as well as the risks—before sharing your sensitive and confidential financial information with third parties.

When using a fintech app, you may be providing your confidential TD username and password directly to third parties over whom TD has no control. Please be aware that the sharing of your TD credentials is contrary to the terms of our agreements, and TD will not be responsible for any harm that results from the sharing of your credentials.

  • Questions to ask before using a fintech app

    • What type of data does the aggregator (or the company used by the data aggregator) collect when accessing my bank account?
    • What security practices are in place to protect my data?
    • Who is responsible for any security/data breaches or unauthorized charges that may occur, and will they be able to reimburse me for losses?

  • Info to look for when you're signing up

    • Familiarize yourself with how collected data will be stored and for how long before consenting
    • Understand how you can revoke consent
    • Learn how your data will be used and if your data is being sold to, or shared, with additional parties

  • How to monitor your fintech app

    • Monitor your accounts and transactions regularly for any suspicious activity that you did not initiate or authorize
    • Opt in to receive account and security alerts via text or e-mail on all your TD bank, investment and credit card accounts
    • If you stop using a fintech app or services, change your TD password and disallow the connection by logging in to the fintech provider and changing the connection settings before you delete the app

To verify you are logging in with TD when using a third-party app, check the site's URL located in the address/location bar of your browser and confirm it starts with https://authentication.td.com or https://onlinebanking.tdbank.com. If it doesn't, then you may be interacting with a third party, not TD.

If you provide a fintech with your online banking credentials, it will have access to all of your online banking information. Many aggregators use a robot or other automated process—also known as screen-scraping—to log in as you and collect your financial and personal information. You should check the terms and conditions of the app carefully to determine how they intend to use the data.

When using a fintech service, you may be choosing to have one or more third parties maintain, use and store your sensitive information, which may include your account numbers, usernames, passwords and other information. If your sensitive information is not properly protected, fraudsters could easily gain access to it and use it to commit fraud against you. This could include accessing your online accounts and moving your money. While aggregating your personal information in a single location may offer potential benefits such as a clearer picture of your overall finances, it also increases fraud and security risk.

Yes. When you share your username and password with these fintech apps, you are giving them the digital keys to your account; they will be able to see everything you can see when you log in to your online account, which may include your name, address, phone number, account numbers, transactions and other information. When you share your information with fintech apps, TD will no longer be able to maintain its privacy and security. We also will not be able to control the purposes for which it is used or with whom it will be shared. Therefore, TD will not be responsible for any harm that results from your use of their services.

TD is committed to helping protect customers. We are working to enable a more secure way for customers to provide access to their financial data with clear, transparent and revocable consent.

Learn more about TD’s data access agreement with Finicity that lays the groundwork for these efforts

The easiest way to revoke consent is by logging in to your fintech service and going to their settings/manage connections (or similar) menu bar option. If this is not easy to find, contact your fintech service directly. You should also then change your bank username and password.

Interested in learning more?

Visit the Consumer Financial Protection Bureau for more information on financial data sharing and aggregation

†Important Disclosures By clicking on this link you are leaving The Toronto-Dominion Bank's ("TD Bank") website and entering a third-party website over which TD Bank has no control.
Neither TD Bank, nor its subsidiaries or affiliates, are responsible for the content of third-party sites hyper-linked from this page, nor do they guarantee or endorse the information, recommendations, products or services offered on third-party sites. Third-party sites may have different privacy and security policies than TD Bank. You should review the privacy and security policies of any third-party website before you provide personal or confidential information.

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