Banking Privacy Policy
Effective [effective date to be set at launch]
Applies when you open an Advi bank account. Until then, the Advi personal-finance Privacy Policy applies.
Advi, LLC (“Advi,” “we,” “us”) is a Wyoming limited liability company. This policy explains what information we collect when you use the Advi application and open or use an Advi bank account, how we use it, who we share it with, and how we protect it. It covers Advi’s personal-finance features and Advi bank accounts together.
Advi is a financial technology company, not a bank. Deposit accounts are provided by a partner bank, which is identified to you when you open your account. The partner bank’s own privacy notice also applies to your account (see section 9).
1. Information we collect from everyone who uses Advi
Account information
Your name, and the email address or mobile phone number you use to sign in. Advi uses one-time sign-in codes sent by text message or email. Authentication is handled by Google Firebase Authentication.
Financial account data
When you choose to connect a bank, card, loan, or brokerage account, we use Plaid to retrieve:
- Account names, types, and masked account numbers
- Account balances
- Transaction history, up to 24 months, including merchant, amount, date, and category
- Recurring income and bill streams
- Liability details, including credit card APRs and loan balances and terms
- Investment holdings
Information you give us
Financial goals, manually added accounts, and corrections you make to transaction categories.
Usage data
Device type, app interactions, and server logs.
Consent records
What you agreed to, which version, and when.
Connected AI assistants
If you connect an AI assistant to Advi, we record which assistant you connected, the permissions you approved, and when. We also keep a log of each request the assistant makes to Advi: which feature it used, when, whether it succeeded, and the search filters it sent. If you ask the Advi coach a question through an assistant, we keep your question and the coach’s answer as part of your coaching conversation, with card numbers, Social Security numbers, email addresses, phone numbers, and dates of birth removed from what you typed.
2. Additional information we collect when you open an Advi bank account
If you use only Advi’s personal-finance features, we do not collect your Social Security number, date of birth, or government identification. We collect the information below only when you apply for an Advi bank account, because the partner bank must identify and verify each person who opens an account.
Identity information
- Your legal name (first, middle, and last)
- Date of birth
- Social Security number
- Residential address
- Phone number and email address
- Employment status, occupation, annual income, and sources of income
Your Social Security number
We collect your Social Security number only when you open a bank account. We store it encrypted, and we encrypt it a second time, separately from the rest of your information. It is decrypted only to open an account for you with the partner bank, or when our support team needs it to resolve a problem with your account. Every decryption is logged. We show you only its last four digits in the app.
Identity verification
The partner bank, or a service provider working for it, verifies your identity. If it needs more information, it may ask you for documents, such as a photo of a government-issued ID or proof of address, which you provide through the app. We keep a record of each verification result we receive: the result, when it was decided, and the reference the bank or its provider gives us.
Your phone number and email address
The account application includes both a phone number and an email address. The one you sign in to Advi with stays your sign-in. The other is contact information for the partner bank, like your address. It becomes a way to sign in to Advi only if you choose that, and we then confirm it with a one-time code.
Account and transaction information
Information about your Advi bank account that we receive from the partner bank and its service providers, including your account and routing numbers, balances, transactions, transfers, statements, card status, and account status. If you move money to or from an account you hold at another bank, we collect the details of that account needed to make the transfer.
Account numbers and card details
Any full account number we store is encrypted. In the app, account numbers are shown masked to the last four digits, and a full account number is shown only when you ask to see it. Each time a full account number is shown, it is logged. If the partner bank issues you a debit card, the card number, security code, and PIN are handled by the bank’s card provider. Advi shows card details only through the provider’s secure display and never stores them. You may be asked for a new sign-in code before card details are shown.
Device and network information
When you open an account or move money, we may collect information about your device and connection, such as device type and IP address, and share it with the partner bank and its service providers to verify your identity and prevent fraud.
3. How we use your information
- Calculate your Advi Score and its component scores
- Categorize your transactions and identify income and bill streams
- Generate personalized coaching content
- Answer requests from AI assistants you connect to Advi
- Open and service your Advi bank account on the partner bank’s behalf
- Verify your identity and help the partner bank meet its legal obligations, including customer identification, anti-money-laundering, and sanctions screening
- Detect and prevent fraud and unauthorized transactions
- Process deposits, transfers, and card transactions you make or receive
- Provide statements, notices, and disclosures, and handle disputes, error reports, and complaints
- With your consent, keep your identity details so you don’t have to type them again when you open another account
- Produce anonymous, aggregated benchmarks, if you consent
- Operate, secure, debug, and improve the service
- Communicate with you about your account
4. How we share your information
We do not sell your personal information.
Banking partners
| Recipient | Purpose |
|---|---|
| The partner bank | Opening and keeping your deposit account; verifying your identity; anti-money-laundering, sanctions, and fraud checks; processing payments; issuing cards; statements; and meeting the bank’s legal obligations. If you update your address, phone, email, or employment details in Advi, we send the update to each partner bank that holds an account for you. |
| The partner bank’s service providers | Banking platform, identity verification, fraud prevention, card issuing and processing, payment processing, and statements, each working for the partner bank |
| Payment networks | Processing deposits, transfers, and card transactions you make or receive, such as through the ACH network or a card network |
Service providers that run Advi
| Provider | Purpose |
|---|---|
| Plaid Inc. | Connecting your financial accounts and retrieving account, transaction, liability, and holdings data |
| OpenAI | Generating personalized coaching content. We send your financial context for this purpose, which may include your Advi Score, account balances, and transaction summaries, and the coaching questions you ask. Categorizing a transaction our own rules can't place with confidence: we send only the merchant name, the transaction description as your bank shows it, the bank's category, and a rough amount range, not the exact amount, your name, or your Advi account ID. Writing a share message for your score: we send only the score, its change from last month, and the month. |
| Microsoft Azure | Application hosting and database storage |
| Google Firebase | Account authentication |
| Twilio | Sending sign-in codes by text message |
| Azure Communication Services | Sending sign-in codes and service email |
We do not send your Social Security number, full account numbers, or card numbers to OpenAI or to AI assistants you connect.
AI assistants you connect. If you connect an AI assistant such as Anthropic’s Claude or OpenAI’s ChatGPT, we send it the information described in section 6 when it asks on your behalf. We do this at your direction; the assistant’s provider is not acting as our service provider.
As required by law. We may disclose information to regulators, law enforcement, and others when required by law or legal process, to the partner bank’s examiners, or to protect the rights and safety of our customers, Advi, the partner bank, or others.
5. Plaid
Advi uses Plaid Inc. (“Plaid”) to connect your accounts. By using Advi, you grant Advi and Plaid the right, power, and authority to act on your behalf to access and transmit your personal and financial information from your financial institution. You agree to your information being transferred, stored, and processed by Plaid in accordance with the Plaid End User Privacy Policy.
6. AI coaching and connected AI assistants
Advi uses a third-party large language model provider to generate coaching text. Coaching content is informational only, may be inaccurate or incomplete, and is not financial, investment, tax, or legal advice. You can withdraw consent for AI coaching at any time in the app.
Before a coaching question is sent to OpenAI, we remove anything in it that looks like a card number, Social Security number, email address, U.S. phone number, or a date written in numbers, such as a date of birth. We don’t add your name, email address, sign-in tokens, or Advi account ID to what we send. A final check stops the request from being sent if it still finds one of those numbers, an email address, or your Advi account ID. Other words you type, such as a name, are sent as written, so please leave out personal details you don’t want to share.
You can connect Advi to a third-party AI assistant, such as Anthropic’s Claude or OpenAI’s ChatGPT. Before anything is shared, you sign in to Advi on an Advi consent screen that names the assistant and lists what it will be able to see. Nothing is shared unless you approve. Depending on the permissions you approve and what you ask, the assistant may receive your Advi Score, pillar scores, and the figures behind them; your One Thing and Advi coach answers; and transaction search results with the account’s name, type, and last four digits. Information sent to an assistant is handled by its provider under that provider’s own terms and privacy policy. You can disconnect an assistant at any time in the app, under Profile, Connected Apps, or by contacting support@advi.ai.
7. Security
Your information is encrypted in transit and at rest. Your Social Security number and full account numbers are encrypted again, separately, and every time one is decrypted or shown in full, it is logged. We restrict internal access to financial and identity information. Advi never stores your card number, card security code, or PIN. No method of transmission or storage is completely secure, and we cannot guarantee absolute security.
8. Retention and deletion
We keep your information while your account is active. When you delete your Advi account, we delete your financial data, except where we are required to retain records for legal, security, or fraud-prevention purposes. Records of the AI assistants you connected, the permissions you approved, and the log of their requests are kept under the same rule.
If you have had an Advi bank account, some records must be kept after the account closes, because the partner bank and Advi must meet legal record-keeping requirements. These include identity-verification records, account and transaction records, and records of disputes and complaints. We keep them for as long as those requirements apply, which can be five years or more after your account closes, and then delete them.
9. Privacy notice for Advi bank accounts
Federal law gives you the right to limit some but not all sharing of your personal information, and requires us to tell you how we collect, share, and protect it. This section summarizes that in plain words. The partner bank gives you its own privacy notice when you open your account; it applies to your account alongside this policy.
What we collect and share
Depending on how you use Advi: your Social Security number and income; your account balances, transaction history, and payment history; your employment information; and the information described in sections 1 and 2.
Reasons we can share your personal information
| Reason | Does Advi share? | Can you limit it? |
|---|---|---|
| Everyday business purposes: to open and maintain your account, process your transactions, verify your identity, prevent fraud, and respond to court orders and legal investigations | Yes | No |
| Our marketing: to tell you about Advi’s own products and services | Only with service providers that send our messages | You can turn off marketing messages at any time |
| Joint marketing with other financial companies | No | We don’t share |
| Affiliates’ everyday business purposes, including information about your transactions, experiences, or creditworthiness | No | We don’t share |
| Affiliates to market to you | No | We don’t share |
| Nonaffiliated companies to market to you | No | We don’t share |
How we protect your information
See section 7.
How we collect your information
From you, when you create an Advi account, apply for a bank account, give us your income or employment information, connect accounts, or make deposits, transfers, or card transactions. From others, such as the partner bank and its service providers, identity-verification providers, and Plaid.
State law
Depending on where you live, state law may give you additional rights to limit sharing or to access, correct, or delete your information.
10. Your choices
- Access a copy of the data we hold about you
- Correct inaccurate information
- Delete your Advi account and associated financial data, subject to the records described in section 8
- Disconnect any linked financial account at any time, which revokes our access through Plaid
- Disconnect any AI assistant you connected to Advi, which stops Advi from sending it information
- Choose whether your second contact (phone or email) is also a sign-in method
- Withdraw consent for AI coaching, anonymous benchmarking, or marketing communications
We honor access, correction, and deletion requests from all Advi users regardless of residence. Contact us at support@advi.ai.
11. Children
You must be 18 or older to use Advi or open an Advi bank account. Advi is not directed to anyone under 18, and we do not knowingly collect information from children.
12. Changes to this policy
If we make material changes, we will update the effective date above and notify you in the app or by email before the changes take effect.
13. Contact
Advi, LLC
Privacy, account, and general questions: support@advi.ai
Security concerns: security@advi.ai