OpenAI aims for ChatGPT to access your bank account, promoting the idea of convenience. However, the associated risk encompasses numerous other concerns.

      OpenAI has introduced a personal finance feature within ChatGPT that allows subscribers to link their bank accounts via Plaid. This feature, launched on May 15, enables users to connect their bank accounts, credit cards, investment portfolios, and loans to the chatbot, allowing them to ask questions based on their actual financial data. Currently, it is available in preview for US-based ChatGPT Pro subscribers on the web and iOS, supporting over 12,000 financial institutions through Plaid.

      The process is simple: users can access a new "Finances" tab in the ChatGPT sidebar or type "@Finances, connect my accounts" in any chat. ChatGPT will assist them in linking their accounts via Plaid, the same connectivity used by platforms like Venmo and Robinhood. Once accounts are connected, ChatGPT provides a dashboard displaying portfolio performance, spending habits, subscriptions, and upcoming payments. Users can inquire about costs of past events or seek guidance on future financial plans.

      OpenAI states that while ChatGPT can access balances, transactions, investments, and liabilities, it cannot view full account numbers or alter account settings. Users may disconnect accounts at any moment through their settings, with synced data removed within 30 days. Additionally, users can review and delete financial memories which encompass the contextual information ChatGPT keeps regarding their financial goals and priorities.

      OpenAI reports that over 200 million users engage with finance-related queries monthly using ChatGPT. This new feature aims to transform generic financial advice into personalized responses based on individual user data. It operates on GPT-5.5, OpenAI's latest reasoning model, which is reported to be better at handling context-dependent financial inquiries. OpenAI collaborated with more than 50 finance professionals to establish an internal benchmark, with GPT-5.5 Thinking scoring 79 out of 100 and GPT-5.5 Pro scoring 82.5.

      This launch follows OpenAI's acquisition of Hiro Finance, an AI-driven personal finance startup founded by Ethan Bloch. Hiro, which was known for its previous neobank, Digit, was brought into OpenAI as part of an acqui-hire, with Bloch's team contributing to the new financial feature after Hiro ceased operations and deleted user data.

      OpenAI is also forging deeper ties with Intuit, which could lead to advanced features such as understanding tax implications of stock transactions or scheduling consultations with tax professionals, all within ChatGPT. If successful, this partnership would evolve ChatGPT from a simple advisory tool to a more comprehensive financial services platform.

      The competitive landscape is shifting. Perplexity recently launched its Computer for Professional Finance product targeted at analysts and investors, incorporating over 40 finance tools and Plaid integration for consumer accounts, similar to OpenAI's offering. While both companies allow users to connect their bank accounts to AI chatbots through the same third-party data source, their positioning differs. Perplexity focuses on institutional finance with licensed data feeds, while OpenAI centers on consumer convenience, engaging with the substantial user base already asking financial questions on ChatGPT.

      The timing is significant as OpenAI has recently introduced advertising within ChatGPT, transitioning to a cost-per-click model shortly after launching ads. OpenAI asserts that it does not segment audiences based on conversations and does not display ads to users under 18. However, integrating ads with sensitive financial data may attract scrutiny from regulators and privacy advocates, raising concerns among users accustomed to confidentiality in their ChatGPT interactions.

      An important issue remains the lack of fiduciary responsibility from ChatGPT, as human financial advisors are legally bound to act in their clients' best interests. Even though OpenAI states its tool is not a substitute for professional advice, the user experience mimics that of professional financial advice, highlighting a gap between perceived and actual service.

      Analysts have noted OpenAI's recent fintech acquisitions as part of a strategic move into the financial sector, aiming to capture consumer finance engagement. The consensus is that OpenAI is not venturing into banking but instead creating a layer for consumers to interact with their finances, potentially bypassing traditional banking systems.

      Currently, this feature is exclusive to Pro subscribers, the $200-per-month plan that offers access to OpenAI's most advanced models. OpenAI intends to make it available to Plus subscribers after assessing early usage. Its broader commercial strategy resembles a platform model, integrating financial data into a system designed to comprehensively understand its users.

      Plaid's CTO indicates that this partnership signifies a shift in consumer financial experiences, with research showing that 64% of users who have employed AI for finance report improved evaluations of financial products, while 53% feel it aids in managing daily expenses. Although these statistics suggest strong potential for adoption, questions remain about privacy for those sharing their data.

      Presently, OpenAI is banking on the notion that users will find value in connecting their bank accounts to a chatbot that also displays advertisements, assuming the chatbot proves useful. The substantial volume of monthly finance conversations indicates demand, but it remains to be seen