Great i love this product.
Pros
Very fast and very accurate. Saves a lot of time verifying bank accounts.
Cons
I really wish they had an app. So when you're out of the office you can still check.
Rating breakdown
Likelihood to recommend: 10/10
Pros
Unless you pay attention you wouldn't even know they are involved. Seamless, makes connecting bank accounts to apps (banking /money apps etc) much simpler.
Cons
On occasion connections can randomly not work. Rarely an issue for more than a day.
Rating breakdown
Likelihood to recommend: 10/10
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.
Rating breakdown
Likelihood to recommend: 0/10
We've had some bugs getting WooCommerce Subscriptions to be authorized for renewal payments, but that might not be an issue with Plaid specifically.
Pros
I love the interface of a pop-up window that allows the user to log in to their online banking, select the account, and use that to complete an online payment.
Cons
It's crazy expensive if you are doing much more than testing (for a small business like us). It would make sense though as they don't charge per transaction (I think, it's a been a while since I looked at their pricing page).
Rating breakdown
Likelihood to recommend: 9/10
Initially, I've used Plaid from end-user standpoint, connecting to a budgetting/finance management software, each convinced me to sign up for it, knowing that the connection with the bank was done professionally and securely. More recently I had a chance to integrate a large-scale software with Plaid for fraud detection and onboarding, and it was a very pleasant experience, with modern APIs and good support.
Pros
Simple to use, reliable and secure. Removes the burden from developers to implement direct connections with banking institutions and put clients at ease knowing that their accounts are secured by specialized people.
Cons
It can have some issues authenticating banks with two-factor authentication enabled. Canadian integration is lagging behind the American one.
Rating breakdown
Likelihood to recommend: 9/10
Test: free for up to 100 live items.
Launch: pay as you go
Scale: starting at $200/month.
Contact Plaid for full pricing information.