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Plaid

Platform that enables apps to connect with bank accounts

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Plaid Pricing, Features, Reviews and Alternatives

Plaid product overview

What is 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.

Key benefits of using 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.
  • Typical customers

    Freelancers
    Small businesses
    Mid size businesses
    Large enterprises

    Platforms supported

    Web
    Android
    iPhone/iPad

    Support options

    Email/Help Desk
    FAQs/Forum
    Knowledge Base
    Chat

    Training options

    In Person
    Documentation

    Plaid pricing information

    Value for money

    4.9

    /5

    19

    Starting from

    ic-pricetag

    No pricing info

    Pricing options

    Free plan
    Subscription
    Free trial
    Pricing range

    Value for money contenders

    Plaid features

    Functionality

    4.4

    /5

    19

    Total features

    47

    9 categories

    Most valued features by users

    API
    Real Time Reporting
    Real Time Data
    Loan Management
    Mobile Access
    Integrated Vendor Services
    Core Banking
    Risk Management

    Functionality contenders

    Plaid users reviews

    Overall Rating

    4.5

    /5

    19

    Positive reviews

    Rating breakdown
    • Value for money
    • Ease of use
    • Features
    • Customer support
    • Likelihood to recommend8.72/10
    Rating distribution

    5

    4

    3

    2

    1

    14

    2

    2

    0

    1

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

    AR

    Anonymous Reviewer

    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.

    AR

    Anonymous Reviewer

    I so love the Plaid software it makes it so easy to login directly to your online banking account.

    EC

    Erin C.

    Cons
    WaveApps.com reliance on Plaid a horrible decision.

    DR

    DJ R.

    It can have some issues authenticating banks with two-factor authentication enabled. Canadian integration is lagging behind the American one.

    AR

    Anonymous Reviewer

    No app for the software there’s also no way to remember or connect accounts to a profile.

    DB

    Dakari B.

    Overall rating contenders

    Overall Rating
    • Value for money
    • Ease of use
    • Features
    • Customer support
    • Likelihood to recommend10/10

    Share this review:

    Great product

    Reviewed 2 years ago

    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.

    Overall Rating
    • Value for money
    • Ease of use
    • Features
    • Customer support
    • Likelihood to recommend8/10

    Share this review:

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

    Reviewed a year ago

    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.

    Overall Rating
    • Value for money
    • Ease of use
    • Features
    • Customer support
    • Likelihood to recommend4/10

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    My Review for Plaid

    Reviewed a month ago
    Pros

    Instantly connects banks, is used for most platforms

    Cons

    malfunctions sometimes, doesn't allow manual input of routing/account numbers

    Overall Rating
    • Value for money
    • Ease of use
    • Features
    • Customer support
    • Likelihood to recommend10/10

    Share this review:

    Saves so much time not having to collect voided checks

    Reviewed 3 months ago
    Pros

    This has been a lifesaver! An incredibly easy way for my team to verify bank accounts without having to have a voided check on file. Easy for our customers, easy for our team! Win win!

    Cons

    Sometimes the Account Owner name would get logged incorrectly as just the type of account, instead of the person's or business name.

    Overall Rating
    • Value for money
    • Ease of use
    • Features
    • Customer support
    • Likelihood to recommend10/10

    Share this review:

    Instant banking access

    Reviewed a year ago
    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.

    Plaid FAQs and common questions

    Q. What type of pricing plans does Plaid offer?

    Plaid has the following pricing plans:
    Pricing model: Free, Subscription


    Q. Who are the typical users of Plaid?

    Plaid has the following typical customers:
    Large Enterprises, Mid Size Business, Small Business


    Q. What languages does Plaid support?

    Plaid supports the following languages:
    English


    Q. Does Plaid support mobile devices?

    Plaid supports the following devices:
    Android, iPad, iPhone


    Q. Does Plaid offer an API?

    Yes, Plaid has an API available for use.


    Q. What other apps does Plaid integrate with?

    Plaid integrates with the following applications:
    SoftLedger, ForwardAI, Floify, PayHOA, Rentec Direct, LendFoundry, Flatly, OneHash, Patriot Accounting, Beaver , MeridianLink Opening, Unqork, Dwolla, GiveForms, Blend, Landlord Studio , ExpensePoint


    Q. What level of support does Plaid offer?

    Plaid offers the following support options:
    Email/Help Desk, FAQs/Forum, Knowledge Base, Chat

    Common Plaid comparisons

    Plaid logo
    Mint logo
    PlaidvsMint

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