Articles on: Kado General FAQ

How is my bank account information protected?

At Kado, safeguarding your sensitive information is our top priority. We take extensive measures to ensure the security of your data.

All account-related details, including your self-custody wallet information, are protected using advanced encryption on our servers. Additionally, we employ encryption protocols to secure the transmission of data, preventing any third parties from intercepting your connection. Access to customer data is strictly restricted for our employees, and comprehensive background checks are conducted for all staff members.

For our users, verifying your account is a seamless process that takes only a few minutes. Instead of handling your banking credentials directly, we employ a trusted third-party, Plaid Technologies, Inc., for instant account verification. Plaid utilizes a secure method to link your bank account to Kado, ensuring a faster, more reliable process. It's important to note that your banking credentials are never transmitted to Kado but shared securely with Plaid for verification purposes.

For more details on how Plaid handles your information, please refer to Plaid's Privacy Policy. To understand how Kado utilizes your linked bank information, visit the Kado Terms of Use and the Kado Privacy Policy.

What is Plaid?
Kado collaborates with Plaid, a third-party service provider, to facilitate self-custody wallet transfers. Plaid simplifies the process of connecting your self-custody wallet with Kado, offering enhanced security and reliability compared to traditional methods. Learn more about Plaid.

Does Kado have access to my bank account or self-custody wallet credentials if I link via Plaid?
No, Kado does not have access to your credentials (like your username or password) and will NEVER request this information. If you encounter anyone claiming to be associated with Kado Support requesting this information, please cease communication immediately and contact us.

What data does Kado and Plaid use?
When you link your bank account via Plaid, you authorize Kado to receive specific information, dependent on your bank:
Bank account owner information
Bank account number
Bank routing number
Phone number
Email address
Account balance

Kado uses this information to enhance security and verify ownership of the bank account. For detailed information on how Kado uses your linked bank account, refer to the Kado Terms of Use and the Kado Privacy Policy.

Does Kado share any of my data with Plaid?
No, Kado does not share any of your data with Plaid. Plaid does not have access to your Kado activity, including your wallet balance, assets, or transaction history.

Is Plaid secure?
To understand how your data is secured and to learn about Plaid’s security features, visit Plaid’s safety page.

Does Plaid sell my data?
Plaid’s privacy policy ensures that it does not share your data without your permission, and it does not sell or rent your financial information to external entities.

Do I have to use Plaid to connect my bank account with Kado?
To prioritize the safety and security of our users, we are improving our system for linking bank accounts to emphasize instant verification services such as Plaid. If you choose not to use Plaid, there are alternative approved methods for depositing funds into your Kado account.

Updated on: 28/12/2023

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