What you need to know

What happens when you give access to third-party apps


When you sign up for a personal financial app, you usually need to use your banking credentials so the app and the third-party data aggregator the app likely works with can access the information it needs to provide its services.


You'll get a sign-on page where you need to provide your online banking username and password. Sometimes this page may even include our logo since you’ve selected to link to a CIBC account. However, the use of our logo doesn’t mean the service has permission to do so or CIBC’s endorsement.


The app can now access and store an array of your account information, such as personal details and transactions, to provide the features you’ve signed up for.

What could happen to your information

When you sign up to use a third-party financial app, what’s important to keep in mind is that a third-party service doesn’t have to uphold the same security standards we do. So the safety of your account information is only as good as the third-party app’s security system.

While keeping and managing finances in a single location can offer benefits, it also puts your sensitive information at risk of being used for fraudulent activity. 


Security checklist to sign up for third-party apps

  • Make sure to confirm the legitimacy of the app.
  • Make sure the web address of the registration page includes the name of our bank.
  • Read the app’s terms, conditions and privacy policy to find out what the app will do with your data and how long it will store it.
  • Monitor your transactions regularly and contact us immediately if you notice any suspicious activity.
  • Find out how to revoke consent to share your data and do so if you stop using the app. Change your CIBC password as well.
  • Sign up for CIBC alerts to make monitoring your accounts easier.

Types of third-party apps that request access to your data

  • Account or identity authentication
  • Tax and accounting
  • Budgeting
  • Investing (including cryptocurrency)
  • Bill payments
  • Money transfers
  • Credit monitoring

Privacy and security policy information

Frequently asked questions