Wells Fargo has banned TikTok from company devices, citing privacy and security concerns with the social media app.

In a statement to media confirming a story from The Information, a bank spokesperson says a "small number" of employees had installed the app on their corporate-owned devices.

"Due to concerns about TikTok’s privacy and security controls and practices, and because corporate-owned devices should be used for company business only, we have directed those employees to remove the app from their devices," says the statement.

Owned by Chinese firm ByteDace, video sharing app TikTok has seen its popularity surge in the west over the last two years.

However, it has also drawn criticism over the data it collects amid concerns about its close ties with the Chinese government. In recent days US Secretary of State Mike Pompeo has even floated banning the app.

Last week, Amazon caused confusion when it sent out an email to staffers asking them to remove TikTok from devices with company email addresses before quickly saying the email was sent in error.

In a statement to CNN, TikTok says: "Our hope is that whatever concerns Wells Fargo may have can be answered through transparent dialogue so that their employees can continue to participate in and benefit from our community."