Remember when you were little and you believed in the Boogeyman in the closet? That if you swallowed a watermelon seed you’d grow one in your stomach? What about that one if you tell a lie, your nose will magically grow longer?
Those were all based out of fear, and that fear from lack of knowledge (and our parents probably trying to keep us from doing something / keep us from getting up to no good.
That’s what this article is about, debunking the apprehension and lack of knowledge around connecting your card to Ampli. We’ll be honest, anytime we hear about someone or something requesting to access our personal financial information, we’re a little skeptical too. We should be! That’s a totally natural reaction. But thankfully, with Ampli, your information is requested for one sole purpose: to get you cash back. And, it’s done in accordance with the highest level bank security practices available.
Myth #1: Connecting isn’t like a real thing.
(Connecting a card to Ampli: What does it all mean?)
So you’re signing up to Ampli. Excellent choice! All of the sudden, you’re being asked to connect a card.
Come again? What do you mean “connect a card”?
Ok, let’s back up. Way back.
Connecting a card to Ampli is simple. When you shop at partner brands, we need to be able to see that you made an eligible purchase. And, the only way we’ll know that is by viewing your transactions.
Viewing your transactions just means we see that you made a purchase. We don’t have any form of access to your accounts, your personal information, your password, your login credentials.
We see an anonymous set of encrypted data. We don’t know that this information belongs to who, just that person A made a purchase at a partner brand.
Myth #2: My financial information isn’t safe.
(Let’s take a deeper dive into how your information is kept confidential (Meet Yodlee))
We’ve partnered with a well-known financial data aggregation company, Yodlee.
Haven’t heard of it? Yodlee is known on the global stage for being a leader in financial data aggregation, which is one of the reasons why we chose to partner with them. Not to mention, tons of big corporations like HSBC, Citibank, PayPal, Bank of America and Amazon.com have trusted Yodlee to handle confidential data.
Yodlee helps consumers just like you enjoy financial security through innovative products and services. Over 1,300 financial institutions rely on Yodlee – that’s a lot of banking clients!
Think of Yodlee as the super sturdy bridge that connects Ampli to your bank account.
Yodlee compiles financial information from different accounts, including debits accounts, credit accounts and other consumer accounts into one single place. With Yodlee, we can see the purchases you make with your connected accounts, allowing us to give you cash back where it’s due!
Financial data aggregation might feel complicated (don’t all things tech feel that way?) but it is a sector of FinTech that has become increasingly popular in recent years. technology. In January 2020, Visa acquired the financial aggregation company Plaid, which really goes to show that this technology is only going to continue to grow in popularity and adoption.
Myth #3: There is no benefit to connecting my card.
(So why don’t other cash back apps ask me to connect an account?)
Would you rather earn cash back automatically, or have to remember to save and scan every single receipt?
We have a feeling you’re not up for the extra work, that’s why we designed Ampli to get you your cash back without the hassle. This is only achieved by connecting a card – we can see your eligible purchases and add cash back to your Ampli balance.
There’s no need to load offers or scan receipts – who has time for that anyways?
Myth #4: Cash back is not automatic.
(Um, I made a purchase yesterday. Where is my cash back?)
When you make an eligible purchase at a partner brand, we won’t necessarily see this transaction in real time. There’s two reasons for this:
- Your bank won’t post the transaction right away.
- Yodlee gathers this information at different times.
Therefore, we aren’t unable to see that you’ve made a transaction won’t be able to see this on our end until Yodlee tells us you made a qualifying purchase. That’s why sometimes it can take up for 5 business days for you to see the cash back in your Ampli balance. us to see the cash back. If for any reason your cash back still isn’t showing in your earn history after 7 business days, send us a message through the in-app chat and we’ll help you get your cash back.
Let’s say something updated (like your login credentials) and you still fail to connect your card. Simply go to your bank’s website to see if you need to make any necessary changes on your end. Then, return back to your Ampli app and try relinking.
Myth #5: You have access to my financial information.
(What do you actually do with my financial information?)
Nothing, because we don’t have access to it. Think of your financial information as a read-only PDF – we only have permission to see it, nothing more.
We don’t sell, store or share any of your information.
We hope that we’ve cleared the mist on how connecting your card works and how your cash back is issued. Our goal is to be as transparent as possible on financial matters – because as consumers, we know how much they matter to you.
If you have any questions, just give us a shout through the in-app chat and we’ll be happy to answer them!
Not an Ampli member yet? Learn more about how to earn cash back when you shop with Ampli.
No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by RBC Ampli Inc. or its affiliates. This article offers general information only and is not intended as legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. While the information presented is believed to be factual and current, its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author(s) as of the date of publication and are subject to change.