At Coinbase we go to great lengths to keep all of your sensitive information safe.
Account numbers and routing numbers are stored using bank level AES-256 encryption on our servers. In addition, all traffic is encrypted in transit to prevent third parties from eavesdropping on your connection. Employee access to customer data is heavily restricted and we require background checks on all employees.
For US customers, you can verify your account in just a few minutes by entering your bank credentials. You may be familiar with this process if you've ever verified a bank account on Paypal or similar services. These banking credentials are never sent to Coinbase, but are shared with an integrated, trusted third-party, Plaid Technologies, Inc. (Plaid), to facilitate instant account verification. Plaid may store the provided credentials for verification purposes or use them on a per-transaction basis for fraud prevention, as well as help verify a sufficient balance is available to process your transaction.
What is Plaid?
Coinbase works with Plaid, a third-party service provider, to facilitate bank account transfers. Plaid makes it easy to connect your bank account with Coinbase by offering faster, more secure, and more reliable payment method linking than the old-school test deposits. Learn more about Plaid.
Does Coinbase have access to my bank account credentials if I link via Plaid?
No, Coinbase does not have access to your bank account credentials (username or password) and will NEVER ask for this information. If anyone claiming to be associated with Coinbase Support requests this information or calls you directly, please cease all communication and immediately contact us.
What data does Coinbase and Plaid use?
When you connect your bank account via Plaid, you authorize Coinbase to receive the following information (availability of this data is dependent on your bank):
Bank account number
Bank routing number
Bank account owner information
Does Coinbase share any of my data with Plaid?
No, Coinbase does not share any of your data with Plaid. Plaid does not have access to your Coinbase activity such as your Coinbase balance, assets you own or your trading activity.
Is Plaid secure?
To learn more about how your data is secured, and Plaid’s security features including its encryption protocols, secure cloud infrastructure, multi-factor authentication, and around-the-clock monitoring to protect users’ data, visit Plaid’s safety information page.
Does Plaid sell my data?
Do I have to use Plaid to connect my bank account with Coinbase?
As part of our continued effort to ensure the safety and security of our customers, we’re updating our payment method linking system to focus on instant verification service providers such as Plaid. If you prefer not to use Plaid, you can add another accepted payment method to your Coinbase account.