Personal finance has become easier with the introduction of budgeting and subscription-monitoring apps. One of the most common is Rocket Money, an application that is designed to assist individuals in tracking their spending, monitoring subscriptions, and even negotiating bills. Rocket Money reports appealing features but one question continues to dominate consumer inquiries: Is Rocket Money safe?
This article intends to explore Rocket Money’s security, privacy policies, and protections on monetary and personal data, as well as its pricing, common user complaints, and potential risks. By the end of the article, you should have the most complete, unbiased information available to answer, “How safe is Rocket Money in 2025, or at any time in the future?”
What is Rocket Money?
Rocket Money is an application that facilitates personal finance and monetary management. Clients can combine their diverse financial accounts into one portal and control spending, subscriptions, budgets, and savings. It is the renamed application Truebill that Rocket Companies purchased in 2021.
Currently, consumers use Rocket Money primarily for the following:
- Subscription discovery and cancellation
- Expense tracking and budget management
- Bill negotiation (cable, internet, insurance, and utilities)
- Credit-monitoring
- Savings automation
Currently, the Rocket Money application is utilized primarily in the United States, and one of its endpoints is the Android and iOS operating systems.
Why Safety and Security are Important for Finance Apps
Apps that deal with financial information such as:
- Bank accounts
- Credit cards
- Loans
- Subscriptions
have to be extremely safe. Apps can access granular financial data. which poses a risk to users and can lead to:
- Identity theft
- Financial fraud
- Data breaches
- Unauthorized access to accounts
For these reasons, assessing Rocket Money’s security levels is a must.
Is Rocket Money Legitimate?
Rocket Money is a financial technology services provider owned by Rocket Companies, which also owns:
- Rocket Mortgage
- Rocket Auto
Rocket Companies is a public company in the United States and, as such, is under the supervision of federal financial regulators, which legally requires compliance to a number of rules and regulations. This greatly limits the possibility of Rocket Money being a scam or a fraudulent service.
Rocket Money has also been featured in:
- Business Insider
- CNET
- Consumer Affairs
These are not channels that discuss or promote dubious or unverified services. This also adds to the trustworthiness of Rocket Money.
How Rocket Money Connects to Your Bank Accounts
Once a service user has linked a new user’s sensitive banking credentials, a common safety concern is how Rocket Money accesses those credentials. Rocket Money uses Plaid for this function, which means that Rocket Money never has direct access to a user’s banking username and password.
Plaid’s Operations
- Plaid functions as a safe middleman between Rocket Money and your bank
- While authenticating your bank, Plaid encrypts your information
- Then Plaid gives Rocket Money a token that only allows reading your information
- Plaid does not allow Rocket Money to transfer or withdraw funds
Thus, Rocket Money can see your transactions, but cannot transfer any money.
How Rocket Money Protects Your Personal Information
Rocket Money implements several different protection methods and tools at a layer level.
1. Bank-Level 256-Bit Encryption
All data transmitted are protected to 256 bit AES encryption, and that is the standard protection level used by:
- American banks and other financial institutions
- Government
- Military-grade protection systems
Which means, that any data interception is protected and secured.
2. Two-Factor Authentication (2FA)
Rocket Money made it possible to choose multi-factor authentication, which adds another layer of protection when the app is being accessed through a different device.
3. Read-Only Access to Personal Finance Information
Rocket Money can not:
- Move
- Pay any bills
- Transfer
- Withdraw money
All it does is examine your financial data for the purpose of financial reporting and budgeting.
4. Secure Cloud Hosting
Rocket Money stores user information on encrypted servers protected by cutting edge firewalls and intrusion detection systems.
Is Rocket Money Selling or Sharing Your Data?
While Rocket Money does not sell individual users’ bank account details, their privacy policy permits:
- The aggregation of anonymized financial data
- Sharing information with select third-party partners
- The use of data for advertising and internal analytical purposes
Although these policies may be considered standard for financial apps, they remain critical. Your identity may be protected, but financial information pertaining to your habits may be used for business and marketing purposes.
If users desire to mitigate their privacy risks, reviewing in-app permissions and opting out of non-essential data sharing where possible is recommended.
Is Rocket Money Safe to Use?
Are there any guarantees that a digital system is safe from hackers? Rocket Money is not, by any means,. Some casual budgeting tools do not have the benefits that Rocket Money does, including:
- Military-grade encryption
- No stored bank account passwords
- Limited access authorization
- Independent third-party security audits
Reported hacking incidents are a consequence of budgeting apps having poor security. The primary reasons for these breaches include:
- Weaker user passwords
- Compromised email accounts
- Malware-infected devices
- Unsafe public Wi-Fi usage
Therefore, the user behavior surrounding the app is often a greater security risk than the app itself.
Commonly Overlooked Risks Users Face
While Rocket Money itself is secure from hackers, users should remain aware of indirect risks they face.
1. Exposure of Third-Party Data
Breach incidents, while rare, can still happen with Plaid and other APIs as they add extra layers.
2. Security at the Device Level
Financial information could be accessible if your unlocked smart device is lost or if the device is infected with spyware.
3. Error by Individuals
Unnecessary data exposure occurs when users provide full access without evaluating the requested permissions.
The Rocket Money Pricing and Its Impact on Security
The pricing model for Rocket Money is of a freemium type.
Costless Plan
- Subscription tracking
- Budgeting at a basic level
- Analysis of spending
- Monitoring of accounts
Paid Plan
- Automation of smart savings
- Monitoring credit scores
- Tracking negotiations for bills
- Budgeting categories without limitations
Premium price options are within a range of $4-$12 monthly, depending on user choice.
Bill Negotiation Charge
For the first year of savings a user negotiates, Rocket Money takes 30% to 60% of the savings. This fee is misunderstood by users as the service being costless, when in fact it is disclosed legally and properly.
Safety is financial transparency. Disclosures for pricing should be recognized with importance.
The Degree to Which Rocket Money is a Scam
In light of the following evidence, Rocket Money is not a scam:
- The company is publicly traded
- It explains its pricing
- It provides financial services
- It has a huge base of verified clients
Users feel misled because of the following:
- Users do not understand the fees of the premium services
- Users do not understand the expectation for success in negotiations the expectation is misguided
- Users do not understand the expectation for the automation of saving
The above are neither fraud nor scams, but rather they fall under an expectation of the services.
Rocket Money User Complaints
True, users of Rocket Money are generally very satisfied, but they do level some criticisms as well.
The most prevalent complaints consist of the following:
- In some cases, complaints or transactions fail to sync
- Duplication of transactions in budget items is not unusual
- In some cases, customers experience slowness of the support team
- In some cases, customers experience a lack of success with services purported to reduce expenses by negotiation
- In some cases, users experience difficulty in cancellation of premium services
These complaints relate to the usability of the service, but also to the trustworthiness of the service.
Rocket Money Vs The Security of Traditional Banking
In contrast, traditional banking:
- Protects funds under FDIC insurance policy
- Allows customers to move money
- Protects customers via fraud protection reimbursement
- Rocket Money is not a bank
- Rocket Money does not hold client money
- Rocket Money does not offer a service to make transactions
This means that if Rocket Money were to be hacked, if you were using the banking system, you would lose money. In Rocket Money, although a hack would be possible, attackers would not be able to take money directly.
Is Rocket Money Safe for Long-Term Use?
For most users, Rocket Money is safe for long-term use if:
- You activate two-factor authentication
- You create a strong, unique password
- You conduct periodic reviews of permission granted to Rocket Money
- You routinely check connected accounts
Users with extreme privacy concerns or dislike of third-party financial access may opt for fully manual budgeting.
Who Is Rocket Money Best for?
Rocket Money is best for:
- Overwhelmed subscribers.
- Users seeking a budget with automated spending insights.
- Individuals wanting to automate bill reduction.
- Finance newbies.
Who Should Avoid Rocket Money?
You may want to avoid Rocket Money if you:
- Need complete privacy over your financial information.
- Reside outside of the supported U.S. banking regions.
- Prefer budgeting with spreadsheets, manually.
- Don’t want a third-party application to have API access to your bank.
Potential Rocket Money Alternatives
If Rocket Money is on your mind due to safety concerns, you may consider:
- Manual budgeting instruments
- Expense trackers provided by a bank
- Offline personal finance application
In all of the above options, convenience is traded for privacy, as they are less convenient to use.
Legal and Regulatory Compliance
Rocket Money conforms to:
- U.S. financial data protection laws
- Consumer privacy laws
- Legal obligations concerning the safe storage of data
While not a bank, Rocket Money’s parent company is a federally regulated entity and as such, is bound by rules and regulations.
Final Verdict: Is Rocket Money Safe?
Users who use it with caution must use Rocket Money responsibly. Some of the features it employs include:
- Standard encryption across the industry
- Secure third-party access
- Read-only access to accounts
- Robust cloud reliance
User responsibility is also a safety wear. Smart password use, limited access, and activity checks are also good practices for everyone who uses apps that aggregate finances. There is no risk with Rocket Money; however, it is the same case for online banking. Among comparable apps, Rocket Money is also one of the most transparent and safer apps to use in finance.
Frequently Asked Questions (FAQs)
Is it safe for Rocket Money to connect with my bank account?
Yes, Rocket Money has a partnership with Plaid, which provides a secure and encrypted connection to your account, but does not keep your login information.
Can Rocket Money take my money?
No; the app is not able to withdraw funds or transfer money in any way.
Does Rocket Money sell my personal information?
No. Rocket Money does not sell your personal banking information, but it may share data consisting of no personal information with select partners.
Is Rocket Money safe for monitoring credit scores?
Yes, Rocket Money is safe to use for credit score monitoring as credit information is accessed through Authorised Users.
Can I remove bank access at any time?
Yes, you are able to disconnect bank accounts at any time through the app or use your bank to revoke access directly.
Is Rocket Money safer than manual budgeting?
Unlike manual budgeting, Rocket Money does have some protections and automated safeguards, but also does not have third-party protections.
What happens if Rocket Money shuts down?
You are able to download your information, and any linked permissions can also be revoked instantly via your bank.
Conclusion
Rocket Money is one of the most reputable personal finance apps available, and this is for reasons including but not limited to the following:
- Strong encryption and security protocols
- User access is designed to be read-only
- Affiliation with a reputable U.S. financial institution
- Maintaining a high level of presence and transparency
While these apps can never be completely without risk, the level of risk present is minimal when considering Rocket Money’s excellent security, wholly appropriate risk management, and high level of accountability. For these reasons, Rocket Money is an excellent choice for budgeting apps and subscription tracking for the year 2025. For users who are prepared to forgo manual budgeting, the Rockets app provides a high level of safety, convenience, and financial control.