Claude can now read your bank statements

Anthropic has released a new feature that connects its Claude chatbot directly to user bank accounts.

The Personal Finance tool is currently in beta. It allows subscribers to ask natural language questions about their money. The system links to financial institutions through Plaid, a platform that bridges banks and applications.

In May of this year, OpenAI introduced a similar feature for ChatGPT. That tool also uses Plaid to access bank data. Anthropic's release follows that earlier move in the tech industry.

Users can ask Claude where their money went during a specific month. The AI generates a breakdown of spending by category. This includes essential costs like rent and utilities. It also covers discretionary spending on shopping and food.

The tool handles broader financial inquiries as well. Users can ask Claude to calculate remaining bills before their next payday. They can also determine if they can afford large purchases like holiday trips. The system can estimate how much a user could save each month.

Security is a primary focus of the implementation. Access granted to Claude is strictly read-only. The AI can view data but cannot alter it. Because the connection uses Plaid, Claude does not need to see banking passwords. This setup prevents banks from having to manage unvetted AI bots directly.

Anthropic states that the tool has limited operational capabilities. Claude cannot move, manage, or invest a user's money. The company explicitly says the feature is not designed to provide investment advice.

However, the AI gains visibility into specific account details. This includes the bank's name, account names and types, and the last four digits of the account number. It also sees current balances, credit limits, and up to two years of transaction history.

With this access, Claude can explain complex financial terms. It provides clear answers regarding balances and specific transactions. This acts as an explanatory layer over raw financial data.

The feature is available this week to subscribers on the Claude Pro, Max, and Ultra plans within the United States. Anthropic is inviting input from banks, wealth managers, and other financial services companies. The company is exploring how to facilitate collaboration with licensed professionals for larger financial decisions.