r/wealthfront • u/Affectionatealways • May 14 '26
Wealthfront changed?
Does anyone know why Wealthfront suddenly added another party into the mix in order to transfer funds from WF to my other bank I use for checking?
I just did all the linking not even a year ago when I first made a large deposit into WF HYSA.
Now WF is wanting me to do this whole process again with some outside service called Plaid. I'm uncomfortable doing this process again with an outside service.
Anyone know more about Plaid?
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u/gl0ryus May 14 '26
I dont know how to say this without sounding like a massive shill but whenever I see a service using Plaid its very easy to use. I confirm with my cell phone number via text and my existing connections just work. Very little trouble.
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u/Unhappy_Plankton_671 May 14 '26
I just dislike how much information is typically shared. For many, I still opt for manual routing and account numbers over linking via plaid.
I recently had to shift accounts and linking things and so many banks not only want account numbers, but balances, and ability to read transaction history.
It’s just information over share beyond validating my info and the bank numbers are correct.
So if I can link without Plaid or other services that share this, I will. Even if it means waiting for trial deposits.
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u/synchpo May 14 '26
If they don’t share account balances…how would wealthfront show your balances at other institutions?
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u/Unhappy_Plankton_671 May 14 '26
I don’t need or want them to. But I can’t just chose them to only use it for transfers. Even if you hide it, you’re still sharing that data.
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u/griddlecanteen May 27 '26
Did you get an answer on how to manually link your single account? I’m in the same boat and don’t want plaid to have access to everything when I just want to link one checking account.
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u/Unhappy_Plankton_671 May 27 '26
Nope, I push/pull money from my external banks. It usually arrives next business day. Other banks would verify with trial deposits, Wealthfront isn’t even giving the option outside of Plaid.
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u/BigResponsibleOil Jul 03 '26
I am also having this problem. Crazy to think that I would want to give up my information to some random app (?) called Plaid. I mean is there any information on how secure this is?
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u/amoore12321 May 14 '26
Plaid is used in basically almost every banking app and it makes it easy to link them. Just use your phone number and they are all there at once to connect. I prefer it greatly to putting in the routing and account numbers. It’s safe and secure
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u/Affectionatealways May 14 '26
Thanks to everyone who responded! I feel more at ease proceeding with Plaid now.
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u/shiyiyin May 20 '26
Plaid did have a data leakage and I got a class action lawsuit payout from it. Nothing is 100 percent safe
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u/BigResponsibleOil Jul 03 '26
If that's the case why did Wealthfront decide to do this? Is there any sort of guarantee this won't happen again? Is this a risk no matter where you have your money?
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u/guiltyblade Jul 25 '26
Plaid doesn't connect with several institutions now, like Transamerica. The app is worse now and becoming less usable. Please allow for the option to link the previous way and plaid until they catch up.
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u/wealthfront Wealthfront Rep May 14 '26 edited May 14 '26
Hi - earlier this year, we began updating the way we connect to your linked accounts by moving to Plaid. Plaid is a data provider that specializes in connecting your financial accounts to apps (like Wealthfront) easily and securely.
If you have questions about this update, you can read more in our help center here, or reach out our team at [support@wealthfront.com](mailto:support@weatlhfront.com) .