Bank of America warns customers against sharing passwords with AI agents

Summarised from 2 outlets · Updated 28 Oct, 18:32 · Archive

Bank of America is urging customers not to share banking credentials with AI assistants or agents acting on their behalf.

Bank of America has sent an email to customers warning them not to share banking credentials with AI agents or assistants. The bank stated that customers are responsible for any activity resulting from such access and urged them never to share their username and password with outside services, 'including an AI-enabled tool or agent that offers to act on your behalf'.

The warning reflects growing concerns as customers increasingly hand over login details to personal AI assistants, particularly for agentic payments—where AI agents autonomously make purchases on behalf of users, such as buying items at the best price or right time. TechRadar reports that such unauthorised purchases have sometimes been flagged by financial institutions, leading to customers being locked out of their accounts, or requiring customers to dispute unwanted transactions with their banks.

Sharing banking credentials with AI agents poses multiple risks. A security flaw in the AI tool could leak credentials to hackers. Unauthorised transactions could trigger fraud protections that lock customers out of their accounts. And the onus to resolve disputes typically falls on the customer, who allowed the agent access in the first place. Banks are reportedly still grappling with how to safely integrate AI agents into financial services whilst protecting customer accounts.

How it is being reported

• Bank of America tells customers to stop sharing banking passwords with AI agents — agentic payments are becoming a major thorn in the side of bankingAI agents are making unauthorized payments because people are handing over their usernames and passwords.TechRadar · 28 Oct, 18:15
• Bank of America kindly asks that you don’t share your banking password with your AI assistantThe banking giant reminds customers that "you're responsible for activity" resulting from your AI agents' access.TechCrunch · 27 Oct, 21:44

In this story: Bank of America

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem · Corrections log