Is Rocket Money safe? What You Need to Know Before Linking Your Bank Account

What is Rocket Money app and how does it work

The budgeting app Rocket Money, previously known as Truebill, helps users simplify their money management tasks. The main features of Rocket Money consist of subscription monitoring as well as budget creation, credit score tracking, and bill negotiation assistance. Users enable Rocket Money to access their financial accounts through the app so Rocket Money by checking accounts and calculating your monthly spending habits and offering cost-saving opportunities. The app offers both free basic features and premium features, which include additional functionalities like concierge services and bank connectivity. The premium services follow a unique ‘pay what you think is fair’ model, allowing users to choose their subscription amount within a specified range.

The main reason users find the app attractive is its automated features. After users link their smart savings accounts the platform detects inactive subscriptions while notifying users about rate increases and providing built-in tools to cancel services within the application. The platform helps users save money by negotiating with service providers on their behalf. As part of the premium features, users can also create unlimited budgets, enhancing their budgeting experience and control over their finances.

Rocket Money is an intelligent budgeting tool with 5 million users and works with Plaid and other secure data aggregators. Rocket Money is a modern budgeting solution through its helpful tools, but security is a key factor because users grant the app access to their financial information. Although its tools are useful, users must prioritize security when granting financial access to the app.

Rocket Money security features

Rocket Money uses the following security measures:

🔐Encryption. The data protection system at Rocket Money uses AES 256-bit encryption which protects your data both in storage and transit. The encryption system Rocket Money employs matches the standards used by banking institutions and financial organizations. Rocket Money claims it uses server hosting partner, AWS, is used by reputable organizations including the Financial Industry Regulatory Authority (FINRA).

🔐Plaid security. Plaid facilitates secure bank connections through its reputable financial service which enables users to link their accounts without providing Rocket Money with login credentials. The app never stores or accesses your actual bank username or password. Additionally, certain savings accounts within the app are FDIC-insured through a partner bank.

🔐Two-factor authentication (2FA). The security system Two-factor authentication exists as an account protection feature within Rocket Money. With the implementation of a secondary verification method your account remains protected when hackers manage to obtain your password.

🔐Privacy policies. The company upholds data privacy regulations while avoiding transfers of your personal information to outside parties.

🔐Anonymous data sharing. Rocket Money shares anonymized data for operational needs or analytics but ensures all shared information remains completely unidentified for individual users.

While user security is visible in multiple Rocket Money’s features, data security remains vital for users to practice caution when using the app as Rocket Money works without secure online data storage you can rely on. Rocket Money worth more than $500 million, but can it help you with financial planning and cancel subscriptions without exposing all your assets to an immense risk?

How to use Rocket Money safely

Here are the security steps to follow:

• Enable two-factor authentication (2FA)
• Choose a strong password that’s different from other passwords for your Rocket Money account.
• Check your bank accounts regularly to detect any unauthorized transactions
• Remove app access rights as soon as you detect a security breach
• Don’t use public WiFi networks for Rocket Money
• Protect your mobile device with a passcode or biometric lock

Rocket Money review

The Apple App Store users have rated Rocket Money positively at 4.3 stars. Customers appreciate Rocket Money for its simple design and its helpful tools along with its outstanding support staff. Users have experienced problems with the subscription management system and they find the premium version expensive. Users consider Rocket Money to be both dependable and successful as a personal finance application.

Why you should use a VPN with Rocket Money

You can benefit from a virtual private network (VPN) connection when using Rocket Money by preventing hackers from monitoring your activity even when you connect to public WiFi. With a VPN, your IP address is hidden, which adds an extra layer of privacy to your online activities. In such a way, you can manage your personal finance anywhere regardless of the network you use.

Why VeePN is the best for financial app protection

These VeePN features create an outstanding solution for protecting your security when accessing Rocket Money financial applications:

🛡️Military-grade encryption. This encryption standard protects your data, so that no snooper can read your sensitive information.

🛡️No Logs policy. VeePN doesn’t collect your personal information for commercial use.

🛡️Global servers network. VeePN protects you through its 2,500+ servers located in 89 different regions worldwide.

🛡️Device support. A single VeePN account enables you to protect your data across up to 10 devices simultaneously.

🛡️Automatic connection. You can enable auto-connect on untrusted networks to ensure continuous data protection.

We have to note that a free VPN may have the same features, but VPNs that offer free versions usually lack enough encryption protocols and servers to ensure good connection speeds and robust data protection. So, if you want to reach your financial goals safely, consider using VeePN. It’s easy, by the way!

How to use VeePN with Rocket Money

1. Get the VeePN app from the app store of your device and install it
2. Start or log in to your VeePN account
3. Select a server location in your home country because this will give you faster bank syncing
4. Click “Connect” to enable your VPN service.

Well-done! Now, you are safe.

Conclusion: Is Rocket Money safe?

Rocket Money is a secure platform that helps you track your spendings and manage budget categories as well as negotiate your bills. Rocket Money is a legitimate budgeting app with various features aimed at helping users manage their finances effectively. The service works with secure technology partners and has data encryption and two-factor authentication for account access. Combining basic security with Rocket Money and VeePN service you can use Rocket Money safely and privately.

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Written by VeePN Research Lab VeePN Research Lab is dedicated to provide you latest posts about internet security and privacy.

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