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Plaid description
Plaid is a technology platform that connects your financial applications to users' bank accounts. It allows you to build features that let users share their financial data securely, including verifying their identity, checking balances, and tracking transactions. Companies use Plaid to improve user experience, speed up onboarding, and reduce fraud. Many popular financial apps like Venmo and Robinhood already use Plaid.
What companies are using Plaid?
Who is Plaid best for
Plaid is a fintech platform that seamlessly connects financial apps to user bank accounts. This empowers businesses to verify identities, check balances, and track transactions securely. Popular apps like Venmo and Robinhood leverage Plaid. While praised for its easy integration and wide range of supported institutions, some users have reported issues with smaller banks and customer support. Best for fintech companies needing to analyze financial data or verify user accounts.
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Best for small, medium, and enterprise companies.
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Ideal for Finance, E-commerce, Retail, and other industries needing secure financial data connectivity.
Plaid features
| Supported Plaid offers real-time transaction analysis and fraud detection tools for monitoring transactions. |
| Supported Plaid connects to banks and aggregates banking data using APIs and Open Banking. |
| Supported Plaid offers anomaly detection for fraud prevention using machine learning and tools like Beacon and Signal. |
| Supported Plaid offers account ownership verification via Plaid Identity and Plaid Account Verification. |
| Supported Plaid offers real-time transaction monitoring and fraud detection. |
| Supported Plaid offers KYC checks, including identity verification and document authentication. |
| Supported Plaid supports identity verification using various methods, including document and phone number verification. |
We evaluate the sentiment that users express about non-functional aspects of the software
Value and Pricing Transparency
Customer Service
Ease of Use
Reliability and Performance
Ease of Implementation
Plaid reviews
We've summarised 129 Plaid reviews (Plaid GetApp reviews, Plaid TrustPilot reviews, Plaid Capterra reviews and Plaid G2 reviews) and summarised the main points below.
- Easy integration with various financial apps and platforms.
- Streamlined account linking process for supported banks.
- Wide range of supported financial institutions.
- Useful API documentation and developer resources.
- Provides a valuable service for connecting financial applications.
- Frequent issues with linking accounts, especially with smaller financial institutions.
- Security concerns regarding sharing bank login credentials.
- Inconsistent performance with micro-deposit and account verification processes.
- Lack of clear communication and slow customer support response times.
- Limited support for two-factor authentication.
Plaid pricing
The commentary is based on 12 reviews from Plaid Capterra reviews, Plaid G2 reviews, Plaid GetApp reviews and Plaid TrustPilot reviews.
Plaid offers three main pricing plans: Pay as You Go, Growth, and Custom. Pay as You Go is for individuals and developers, offering unlimited usage with no upfront commitments. Growth is designed for small teams and startups, providing discounted rates and platform support with a 12-month commitment. Custom plans are available for larger businesses needing tailored solutions, volume-based pricing, and support for regulated industries. Plaid’s pricing model varies depending on the product and is categorized as one-time fees, subscriptions, or per-request fees.
Users sentiment
See the Plaid pricing page.
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Plaid has a free trial.
Unlimited usage, no commitments upfront—only pay for what you use. Includes access to GA products, unlimited live API calls, and link customization.
Includes all features from Pay as You Go, plus discounted product rates, platform support package, and Single Sign-On for Plaid Dashboard. Requires a 12-month commitment.
Includes all features from Growth, plus access to beta products, volume discounts, integration assistance, premium support, and account management. Offers custom solutions and volume-based pricing.
Plaid alternatives
FlinksMore focused on Canadian financial institutions. Has a faster website traffic growth rate but slower employee growth. Offers instant bank payments. Some users report connectivity issues, inconsistencies in data, limited customization, and screen scraping susceptibility. A Plaid competitor and alternative.Read more
plaid vs Salesforce PlatformBetter for users needing CRM and custom app development tools. More suitable for general business process management than fintech integrations. Caters to a broader audience beyond financial services.Read more
IT GlueBetter for internal IT documentation and knowledge management for MSPs. Focuses on password management, asset tracking, and process documentation. Geared towards IT professionals, unlike Plaid which focuses on fintech integrations. More positive user reviews, but some report issues with search functionality and security permissions. Pricing generally perceived as negative.Read more
Auth0 by OktaBetter for securing applications and user data through robust identity management. More suitable for businesses focused on software development needing customizable authentication and authorization. Preferable for those seeking social login integrations and single sign-on (SSO) capabilities for multiple applications. Note that users have reported difficulties with configuration and customer support.Read more
MXMore focused on banking and credit unions. Has grown faster in website traffic. A Plaid competitor and alternative.Read more
IBM Security VerifyBetter for medium to large businesses needing robust identity and access management. A stronger competitor for finance, government, and software/IT. Has more website traffic momentum.Read more
Plaid FAQ
Plaid connects financial apps to user bank accounts, enabling features like balance checks and transaction tracking. It enhances user experience, speeds up onboarding, and reduces fraud for businesses. Popular apps like Venmo and Robinhood utilize Plaid's secure data sharing capabilities.
What is Plaid and what does Plaid do?
Plaid connects financial apps to user bank accounts, enabling features like balance checks and transaction tracking. It enhances user experience, speeds up onboarding, and reduces fraud for businesses. Popular apps like Venmo and Robinhood utilize Plaid's secure data sharing capabilities.
Plaid integrates with thousands of applications through its API, including popular financial apps like Venmo and Robinhood. This allows businesses to connect user bank accounts for various purposes, such as account verification, transaction monitoring, and payments.
How does Plaid integrate with other tools?
Plaid integrates with thousands of applications through its API, including popular financial apps like Venmo and Robinhood. This allows businesses to connect user bank accounts for various purposes, such as account verification, transaction monitoring, and payments.
Plaid's top competitors include Flinks, which offers similar financial data connectivity tools, and Salesforce Platform, known for its extensive business application development capabilities. Other alternatives like IBM Security Verify, Stytch, and ComplyCube offer specialized solutions for identity verification and security.
What the main competitors of Plaid?
Plaid's top competitors include Flinks, which offers similar financial data connectivity tools, and Salesforce Platform, known for its extensive business application development capabilities. Other alternatives like IBM Security Verify, Stytch, and ComplyCube offer specialized solutions for identity verification and security.
Plaid is a legitimate technology platform used by many reputable financial apps like Venmo and Robinhood. While it simplifies linking financial accounts, some users have reported issues with smaller institutions and occasional performance inconsistencies. Security concerns regarding sharing bank credentials are also voiced.
Is Plaid legit?
Plaid is a legitimate technology platform used by many reputable financial apps like Venmo and Robinhood. While it simplifies linking financial accounts, some users have reported issues with smaller institutions and occasional performance inconsistencies. Security concerns regarding sharing bank credentials are also voiced.
Plaid pricing is not publicly available. Contact Plaid sales for pricing details regarding product features and add-ons to determine if Plaid is worth the investment for your business.
How much does Plaid cost?
Plaid pricing is not publicly available. Contact Plaid sales for pricing details regarding product features and add-ons to determine if Plaid is worth the investment for your business.
Plaid's customer service receives negative feedback. Users report slow response times, unhelpful automated replies, and difficulty reaching support staff. While some find the online resources helpful, many are frustrated with the lack of direct and effective assistance.
Is Plaid customer service good?
Plaid's customer service receives negative feedback. Users report slow response times, unhelpful automated replies, and difficulty reaching support staff. While some find the online resources helpful, many are frustrated with the lack of direct and effective assistance.
Reviewed by
Michal has worked at startups for many years and writes about topics relating to software selection and IT management. As a former consultant for Bain, a business advisory company, he also knows how to understand needs of any business and find solutions to its problems.
Tymon is a seasoned CTO who loves finding the perfect tools for any task. He recently headed up the tech department at Batmaid, a well-known Swiss company, where he managed about 60 software purchases, including CX, HR, Payroll, Marketing automation and various developer tools.