Citigroup now bars third-party AI agents from logging into customer accounts or moving money inside its digital banking platforms, according to the Financial Times.

Bank of America has imposed similar limits, joining JPMorgan Chase, which is restricting outside AI agents after Jamie Dimon warned that thousands of “rogue agents” could otherwise operate inside the bank.

The deeper threat is to bank funding, since agents comparing rates could move cash from checking accounts paying about 0.1% into fintech accounts paying 3.3% to 5%.

JPMorgan, Bank of America and Wells Fargo hold $1.6T in non-interest deposits, and paying 3% on that money would cost $47B a year, close to half their combined annual earnings.