Citi, Bank of America Restrict AI Agents' Access to Customer Accounts

Major U.S. banks are moving to limit AI agents' access to customer accounts over concerns that the assistants could shift idle deposits to higher-yielding accounts and cause outflows of bank deposits. Citigroup said it prohibits third-party AI agents or assistants from logging into customer accounts or carrying out transactions through its digital banking platform, in order to protect account and personal information.

Bank of America CEO Brian Moynihan said his bank has restricted AI agents' access to personal customer deposits and is working with agent service providers to establish rules on liability for AI-authorized payments. He stressed that transfers out of accounts must be manually authorized.

Concerns have intensified since Meta launched its AI personal assistant Muse in September 2026. Apollo Global Management chief economist Torsten Slok warned that AI assistants could automatically move household funds from checking accounts paying an average of 0.1% to accounts paying between 3.3% and 5%. In mid-October, JPMorgan Chase CEO Jamie Dimon also said the bank would restrict external AI agents from entering its systems, citing the risk of thousands of uncontrolled agents.