Plaid

4.3 (55)
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Platform that enables apps to connect with bank accounts

About Plaid

Plaid is a technology platform which enables connection between applications and users’ bank accounts for account authentication, real-time balance checks, identity verification, income validation, asset verification, and more. Thousands of US and Canadian financial institutions are supported, as are business and consumer bank accounts.

Plaid’s Auth solution can be used to authenticate bank accounts for ACH payments without requiring microdeposits, allowing transactions to be authenticated instantly. Users are added with the credential-based flow, and account holder information can be retrieved to authorize transactions at any time once a user is added. The Balance solution can pull real-time current and available balance information as well as historic balance data, account type and status information. This solution can be used to prevent non-sufficient funds (NSF) and overdraft fees for customers by ensuring they have sufficient available balance before transactions are processed. Identity enables the verification of user identities against bank records to reduce fraud. Email and mailing addresses, phone numbers, and names can be checked, and forms can be auto-filled with account holder information.

The Transactions solution pulls transaction data for the past 24 months, with context including geolocation, category, and merchant information. Both pending and completed transactions can be accessed. Plaid’s Assets solution enables the verification of borrower assets from bank records, and generates reports in JSON and PDF formats. Income can be used to validate multiple income sources and verify employment information in real time, including the previous year’s pre- and post-tax income, projected pre- and post-tax income, and number of income streams.


Key benefits of Plaid

  • Plaid’s Auth solution enables the authentication of accounts for ACH without the need for microdeposits, allowing the instant authentication of transfers.

  • The Balance solution can be used to pull both historical and real-time balance data before transfers are made, including current and available balance information, to prevent overdrafts and non-sufficient funds (NSF) fees.

  • Bank data, including names, addresses, and phone numbers, can be used to verify user identities with the Identity solution, with the aim of reducing fraud.

  • Historical transaction data for the past 24 months can be accessed using the Transactions solution, with contextual information including category, merchant, and geolocation data.

  • The Assets solution can be used to verify borrower assets using financial data from borrowers’ bank accounts, and generate reports in both JSON and PDF formats.

  • Images

    Plaid Software - Verify bank account income with Plaid's Income product
    Plaid Software - Verify user identity with Plaid's IDV product
    Plaid Software - Enable users to instantly connect their bank accounts via Plaid Link
    Plaid Software - Get an in-depth snapshot of a user's finances with Plaid's Assets product
    Plaid Software - Create accurate and custom transaction risk assessments with Plaid's Signal product
    View 6 more
    Plaid video
    Plaid Software - Verify bank account income with Plaid's Income product
    Plaid Software - Verify user identity with Plaid's IDV product
    Plaid Software - Enable users to instantly connect their bank accounts via Plaid Link
    Plaid Software - Get an in-depth snapshot of a user's finances with Plaid's Assets product
    Plaid Software - Create accurate and custom transaction risk assessments with Plaid's Signal product

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    Reviews

    Overall rating

    4.3 /5
    (55)
    Value for Money
    4.2/5
    Features
    4.2/5
    Ease of Use
    4.3/5
    Customer Support
    4.3/5

    Already have Plaid?

    Software buyers need your help! Product reviews help the rest of us make great decisions.

    Showing 5 reviews of 55
    Joseph
    Joseph
    Overall rating
    • Industry: Civil Engineering
    • Company size: 201–500 Employees
    • Used Weekly for 2+ years
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 10.0 /10

    Agrxis Review on Plaid

    Reviewed on 2023/05/22

    I have found Plaid to be an outstanding platform overall, and it has considerably improved my...

    I have found Plaid to be an outstanding platform overall, and it has considerably improved my ability to manage my finances. It is tremendously straightforward to view and evaluate my financial data in real time because to the smooth interface with numerous financial institutions. My time and effort have been greatly reduced by how simple it was to link my bank accounts, credit cards, and other financial accounts. I've been able to obtain a deeper understanding of my spending habits and make wiser financial decisions because to Plaid's thorough transaction information and classification. Additionally, I have peace of mind knowing that Plaid has put in place strong security measures to protect my data. A great user experience is also aided by the user-friendly interface and intuitive design.

    Pros

    I have been amazed by Plaid's powerful and dependable financial data connection capabilities. As a result of the platform's smooth interaction with numerous financial institutions, I can quickly get and examine banking data. Real-time data access, which offers accurate and up-to-date insights into my financial activity, is one of the features I value most. I feel secure knowing that my financial information is secure because to Plaid's security safeguards. In addition, integrating Plaid into my own applications has been a breeze thanks to the developer-friendly APIs and documentation. The Plaid support staff has been accommodating and supportive, swiftly responding to any questions or concerns.

    Cons

    Although Plaid offers useful capabilities for integrating financial data, there have been a few elements that I haven't found to be as positive in my experience. The data I got from several financial organizations occasionally had inconsistencies, which was one of my problems. To make sure the information was accurate and consistent, more work was needed. The provision of support for a wider range of foreign banks and financial institutions is another area that may be enhanced. As a foreign user, I discovered that Plaid did not support all of the institutions I work with, which constrained the extent of data integration.

    Desiree
    Overall rating
    • Industry: Financial Services
    • Company size: 2–10 Employees
    • Used Weekly for 1+ year
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 7.0 /10

    Responsive customer support

    Reviewed on 2024/09/27

    The overall experience with Plaid is pretty good. Because the customer support is loads better...

    The overall experience with Plaid is pretty good. Because the customer support is loads better than Yodlee's, I would say it is a good syncing vendor choice. But there will still be some headaches you should anticipate.

    Pros

    Being new the finance industry, I am still able to navigate Plaid's system, and I can always count on receiving a reply from Plaid's customer support within a couple days of submitting a ticket.

    Cons

    Plaid's dropping of working with Fidelity caused us a huge amount of headache, and I wish there were a better resolution.

    Zakau
    Overall rating
    • Industry: Health, Wellness & Fitness
    • Company size: Self Employed
    • Used Monthly for 2+ years
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 2.0 /10

    Plaid has made connecting my financial platforms simple!

    Reviewed on 2024/12/27

    I really enjoy using plaid across my different financial platforms and rarely run into issues!

    I really enjoy using plaid across my different financial platforms and rarely run into issues!

    Pros

    Plaid allows me to seamlessly link my multiple accounts without leaving the app.

    Cons

    My only complaint is that sometimes it takes longer to verify than I feel necessary.

    Keri
    Overall rating
    • Industry: Consumer Goods
    • Company size: 501–1,000 Employees
    • Used Monthly for 1+ year
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 2.0 /10

    Plaid review

    Reviewed on 2024/08/27

    My overall experience with plaid is not the greatest tbh. They have prevented me from being able to...

    My overall experience with plaid is not the greatest tbh. They have prevented me from being able to connect my accounts on multiple occasions because their network of partnering banks is minimal.

    Pros

    What I like most about plaid is that it allows external banks to connect with other apps for funding purposes or transferring funds securely.

    Cons

    What I don't like about plaid,is that it's very specific on the banks it allows us to connect to 3rd party apps. Unfortunately most of the banks I have access to are not supported so it's harder for me to truly appreciate what I'm sure could be a good potential app.

    Nick
    Overall rating
    • Industry: Real Estate
    • Company size: 51–200 Employees
    • Used Weekly for 6-12 months
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 10.0 /10

    Plaid gets it Paid.

    Reviewed on 2024/11/18

    I had to use plaid multiple times to help residents set up their rent payments.

    I had to use plaid multiple times to help residents set up their rent payments.

    Pros

    It easily connects with different bank accounts in order to make payments via ACH.

    Cons

    It was a very thorough 2 step process to verify identity.

    Showing 5 reviews of 55 Read all reviews

    Plaid FAQs

    Below are some frequently asked questions for Plaid.

    Plaid offers the following pricing plans:

    • Starting from: US$0.00/month
    • Pricing model: Free Version, Subscription
    • Free Trial: Not Available

    Contact Plaid for pricing information.

    Plaid has the following typical customers:

    2–10, 11–50, 51–200, 201–500, 501–1,000, 1,001–5,000

    Plaid supports the following languages:

    Danish, Dutch, English, Estonian, French, German, Italian, Latvian, Lithuanian, Norwegian, Polish, Portuguese, Romanian, Spanish, Swedish

    Plaid supports the following devices:

    Android (Mobile), iPhone (Mobile), iPad (Mobile)

    Plaid integrates with the following applications:

    ASTRA, Adyen, Airwallex, Alchemy, Alloy, Alpaca, Atomic, Checkbook, Checkout.com, Codat, Dwolla, F5 Silverline Managed Services, Finix, Gusto, HighNote, Marqeta, MeridianLink Opening, Ocrolus, OpenClose Lending Solution, Personetics Assist, Riskified, Roll by ADP, Sardine, Stripe, Treasury Prime, TrueNorth, Truework, Turnkey Lender, VGS, Vesta, VoPay

    Plaid offers the following support options:

    Email/Help Desk, FAQs/Forum, Knowledge Base

    Related categories

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