How we protect your information
Your money and your identity deserve real safeguards. Here is what stands behind SavingsBox™, and answers to the questions people ask us most.
In short: your identity is verified through Stripe, payments are handled by Stripe, and bank connections run through Plaid. We never store your card number, full bank account number, Social Security number or ID photos. We don't sell your data or share it with advertisers.
Six safeguards behind the app
Real identity verification
Before you can move money, you verify your phone by text code and complete a government ID and selfie check with Stripe. The ID photo and selfie stay with Stripe; we never receive them.
We never hold your card or bank numbers
Every payment runs through Stripe, a licensed money transmitter whose payment systems meet the card industry's highest security standard (PCI DSS Level 1).
Secure bank connections
Linking a bank uses Plaid, the same service behind many major banking and budgeting apps. We receive a secure token, not your account number or bank password.
Face ID and two-factor login
Turn on Face ID or Touch ID lock and a text-code second step at sign-in. You get an alert when a new device signs in, and you can sign out other devices from the app.
Only you can see your data
Data is encrypted in transit and at rest. Our database enforces that each account can only read its own records, and staff access is limited to what's needed.
Ongoing screening and monitoring
Every user and finance professional is checked against U.S. sanctions and watchlists, and re-checked over time. We also watch for unusual activity, like a sign-in from an unexpected location.
Frequently asked questions
Do you sell my data?
No. We don't sell your personal information and we don't share it with advertisers. The companies that help run SavingsBox, like Stripe and Plaid, only get what they need to do their job for us, and they're contractually required to protect it.
What information do you collect?
Your name, email and phone number, plus your verified legal name and address from identity verification. If you link a bank, we receive a secure connection token from Plaid, not your account number. We also keep the savings goals, boxes and transactions you create in the app.
Do you store my Social Security number or ID photos?
No. Stripe handles the ID and selfie check entirely in its own systems. We receive the result (your verified name, address and the type of ID used), never the ID image, the selfie or your full SSN.
Who do you share my information with?
Only the service providers that make the app work: for example Stripe (payments and identity), Plaid (bank linking), Twilio (text codes) and Anthropic (Maya, our AI coach). The full list is in our Privacy Policy. We also share information when the law requires it. If you book a finance professional, you choose whether to share a financial summary with them.
How long do you keep my data?
Conversations with Maya are deleted after 90 days. Documents you share with a professional are deleted shortly after the appointment. Some records, like transactions and identity verification, must be kept for at least 5 years under federal anti-money-laundering law, even after you close your account.
Can SavingsBox see my bank password?
No. You sign in to your bank inside Plaid's secure window. We never see or store your bank login.
Can SavingsBox take money from my bank account?
Only when you ask it to. Linking a bank through Plaid lets us read balances and transactions for insights; it can't move money by itself. Money moves only when you make a contribution or turn on a feature like automatic contributions or Round-Ups, and you approve each of those yourself. You can turn them off at any time.
Where is my money held? Is SavingsBox a bank?
SavingsBox is a technology company, not a bank. Payments and money movement are handled by Stripe, a licensed money transmitter, and wallet funds are held with Stripe's FDIC-member bank partners. SavingsBox itself is not FDIC-insured.
Is my information used to train AI?
No. Maya runs on Anthropic's Claude. Anthropic processes your messages only to answer them, under a contract that requires it to keep them confidential and not use them to train its models. The app asks your permission before Maya first uses your information.
Does Maya see my bank transactions?
Only if you turn on AI spending analysis, which is a separate permission from linking your bank. Maya then sees a summary (categories, merchants and amounts), never your account number or SSN. You can turn it off any time in your profile.
How do I make my account more secure?
In your Profile, turn on Face ID or Touch ID lock and two-factor login. Both are off by default so you can choose. We'll also alert you whenever a new device signs in to your account.
What if I think someone else got into my account?
Go to Profile, then Devices, and remove any device you don't recognize. That signs out every other device on your account. Then change your password, turn on two-factor login, and email legal@thesavingsbox.com so we can help.
Can I delete my account and data?
Yes. Request deletion from the app (Profile, then Delete account) or by emailing legal@thesavingsbox.com. We remove your name, email, phone and photo. Records that federal law requires us to keep, such as transactions and identity verification, are kept for the required period.
Can I get a copy of my data?
Yes. Email legal@thesavingsbox.com. California residents have additional rights under the CCPA, and we respond within 45 days.
Read the full details in our Privacy Policy and Terms of Service. Other questions? Email legal@thesavingsbox.com.