Bank of America asks customers not to share banking passwords with AI assistants
US lender Bank of America has emailed customers warning them never to give their login details to outside services, including AI tools. Customers remain responsible for any activity carried out through shared access.
Bank of America, a major US financial group, sent an email to customers on October 27 titled "Protecting your finances in the AI World." In it, the bank urges people never to share their online banking username and password with another person or an outside service, including an AI-enabled tool or agent offering to act on their behalf. The warning matters because personal AI assistants are becoming more popular, and customers are increasingly handing over their log-in details to them.
What the risks are
Tech outlet TechCrunch points to several dangers. An AI assistant could do something with a customer's money without their knowledge. The bank might also conclude that a stranger is accessing the account and lock the real owner out. In addition, a security flaw in the assistant could leak the credentials, giving financially motivated hackers a way into the account.
Responsibility rests with the customer
The email stresses that customers who do share their credentials are responsible for activity resulting from that access. According to TechCrunch, account agreements at most banks hold customers accountable for anyone they give their log-in to.
Wider context
The warning comes as banks, payment providers and processors are still working out how to let customers use AI tools with their accounts safely. One example is agentic payments, where a person sets an agent to buy things autonomously at the best price or at the right time. Banks are also reportedly dealing with unauthorized agents accessing their customers' money. Bank of America did not immediately respond to TechCrunch's request for comment.
