After learning more about new AI agents and their impressive capabilities, some people are using them to automate everyday financial tasks, such as bill paying, booking vacations, shopping, and trading investments. But when an AI tool can see your private information and spend your money, convenience comes with some serious risks.
Financial institutions and online retailers have recently detected AI agents attempting to access customer accounts. Some are responding by blocking third-party agents or restricting what they can do, even when customers have given the tools permission to log in.1
The problem is that computer systems can’t always distinguish legitimate, customer-directed activity from unauthorized or potentially malicious behavior. An AI agent might be able to view account balances, make purchases, or even move money, depending on the access it has been given. But AI agents don’t always interpret instructions as intended. Financial institutions have good reason to be cautious when they cannot reliably determine whether an AI agent is following the account owner’s instructions. Retailers that block access to AI agents want to protect their websites and customer accounts, maintain control over transactions, and ensure that automated tools follow their rules.
Moreover, cybercriminals can hide malicious code in websites, emails, or documents that an agent encounters while completing a task. This technique, known as prompt injection, can trick an agent into ignoring its original instructions, exposing private information or taking actions the user never intended.
Many organizations recognize that AI agents could become useful, and some are exploring ways to allow limited or read-only access. But until safeguards are implemented, they are trying to balance convenience with protecting customers and their money.
Tips for trying out AI
If you want to experiment with AI agents, it’s important to know where to draw the line between asking for help and handing over control.
Use AI for research, not purchases. AI tools can help compare products, summarize information, explain financial concepts, prepare a budget, or create a shopping list. You can ask an agent to research prices and identify potential savings without allowing it to log in to your accounts and complete transactions.
Keep your login credentials private. Never share bank usernames, passwords, credit card details, security codes, or other sensitive information with an AI agent. Giving an AI agent your credentials is like handing over the keys to your account — or a blank check. If you do, and your agent makes a mistake, the bank may determine you are responsible and therefore not entitled to reimbursement. Check your financial institution’s rules before authorizing any third-party access.
Understand the privacy policy and limit access. Check what information the AI service collects, how it uses that information, and whether it retains or shares it. Remember that information an agent can see may reveal much more about you than you realize. Avoid granting broad access to email, financial accounts, medical records, or other personal information.
Know who is responsible if something goes wrong. If you give an AI agent or third-party bot your banking credentials or permission to access your accounts, financial institutions may view the agent’s actions as authorized by you. If the AI makes a mistake, misunderstands instructions, or transfers money in a way you did not intend, you may be responsible for the loss and may not qualify for reimbursement under the bank’s fraud protections. In many cases, the fact that you voluntarily granted access is an important factor in determining liability.
For now, a sensible approach is to let AI help you plan, research, and organize — but keep your passwords, private information, and authority over your money to yourself. Treat any AI-generated recommendation as a starting point, not a final decision, and verify important details before taking any action.
1) Axios, October 22, 2026
Prepared by Broadridge Advisor Solutions. © 2026 Broadridge Financial Services, Inc.