About Plaid

Plaid is a cloud-based financial solution that helps users establish a connection between applications and bank accounts to access banking data. It allows to authenticate accounts, check balances, verify identity, validate income, verify assets and more.

Designed to facilitate both lenders and borrowers, Plaid offers secure access to the bank information. It offers a host of features including transaction history, Automated Clearing House (ACH) authentication, real-time account balance, assets verification, employer verification and more. Additionally, it allows verifying email, mailing address, phone number and generating reports in JavaScript Object Notation (JSON) and Portable Document Format (PDF).

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16 Reviews of Plaid

Average User Ratings

Overall

4.5 / 5 stars

Ease-of-use

4.5

Value for money

5.0

Customer support

4.5

Functionality

4.5

Ratings Snapshot

5 stars

(12)

12

4 stars

(2)

2

3 stars

(1)

1

2 stars

(0)

0

1 stars

(1)

1

Likelihood to Recommend

Not likely

Very likely

Showing 1 - 5 of 16 results

March 2021

Stephanie from Self Employed

Verified Reviewer

Company Size: 1 employee

Industry: Financial Services

Time Used: Less than 12 months

Review Source: GetApp


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

March 2021

Best app to use to connect your bank accounts

My overall experience was great I use it to pay my bills and when I’m playing games I can use plaid to log in and make a purchase. It’s very convenient

Pros

I like that you can connect your PayPal account ti have a more secure way to pay for things over the internet. You can also connect your bank account ir other credit cards.

Cons

What I liked least about this software is that it doesn’t accept all debit cards as form of payment.

February 2021

Erin from Restaurants

Verified Reviewer

Company Size: 1 employee

Industry: Hospitality

Time Used: More than 2 years

Review Source: GetApp


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

February 2021

Instant banking access

Pros

I so love the Plaid software it makes it so easy to login directly to your online banking account. It has several online banking services listed to enter any of your accounts. Makes it so you dont have to always enter your card number and information makes it feel a little more secure.

Cons

There is not absolutely one negative down fall to this software. I applaud the creator of this software.

August 2021

Anonymous

Verified Reviewer

Company Size: 1,001-5,000 employees

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

5.0

Functionality

5.0

August 2021

One of the best integration partners for payment systems!

Pros

I love how robust their integrations are across many different payment/banking platforms.

Cons

I found a bug where the first character in the username/email field is cap sensitive! This initially caused a lot of confusion because I knew my credentials were accurate.

September 2020

DJ from Custom Automation

Company Size: 2-10 employees

Industry: Industrial Automation

Time Used: Less than 12 months

Review Source: Capterra


Ease-of-use

1.0

Functionality

1.0

September 2020

WaveApps.com reliance on Plaid a horrible decision!

WaveApps is slowly committing suicide by using Plaid as it is currently supported.

Pros

Nothing, really... That's the point of this review.

Cons

Account connections with mainstream institutions like AMEX regularly break. The connection must be deleted and recreated each time there is a problem. Kind of defeats the purpose of an automated link. Connections to smaller institutions or banks don't stand a chance with Plaid. Reported problems don't get rectified presumably based on the biggest "squeaky wheel" institution getting priority. Ever since WaveApps converted to Plaid, I must do a manual bank upload to Wave to update my accounts. Again, kind of defeats the purpose of an automated link, don't you think.

June 2021

User Profile Picture

David from Royalty Exchange

Verified Reviewer

Company Size: 11-50 employees

Industry: Financial Services

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

4.0

Value for money

4.0

Customer support

3.0

Functionality

4.0

June 2021

Plaid is the only game in town for connecting to any financial service

We use Plaid to check bank balances and to accept ACH payments. It works great for both purposes. Be aware that some financial platforms (banks) are hostile to Plaid (to the extent of suing Plaid) and have sporadic availability. Some platforms have an arrangement with Plaid that requires you to complete additional documentation steps, like sharing your security policies and business information. Presumably, you get more reliable integration in exchange. For our use case, the cost of Plaid is trivial, but to accept ACH payments, Plaid integrates with Stripe, which does charge a fee for the actual payment. Bottom line, no other service can offer what Plaid can, so if you want your customers to connect to their financial institution to your product, Plaid is your only option.

Pros

Plaid is relatively easy to setup and use. The API documentation is great and API credential setup is easy. The SDK supports all common platforms, and rich code samples are provided.

Cons

Getting approved for production access was a paid. The support team ignored requests. We had to create a second account, which was finally approved. Why this was needed is a mystery. Plaid will push an expensive monthly plan, but it's not needed for sporadic access.