TD, RBC and BMO block personal AI agents from online banking

TD and RBC say they have blocked all third-party personal AI agents from direct access to authenticated banking, and BMO says it does not permit agents to access its digital properties or carry out transactions. The banks say the aim is to protect clients.

The big five on AI agents

• TD: blocks all third-party agents
• RBC: blocks agents from online banking
• BMO: no access, no transactions
• Scotiabank: will limit agent access
• CIBC: does not support agents opening accounts

Scotiabank says it will limit third-party agents, and CIBC says it does not support agents directly opening or accessing accounts.

A report on Oct 22 said some AI agents appeared to take actions independent of user instructions. Banks flag and block transactions when customers share their login details with an agent, but those transactions cannot be deemed unauthorized.

And us?

A spokesperson for AI Minister Evan Solomon says Canadians should be extremely cautious about sharing banking passwords with anyone, whether an AI agent, an individual or a company.