Q: Who is PLAID, and what service(s) do they provide?
A: PLAID is a financial technology (fintech) company that allows you to securely share your data with the apps and services you want, while protecting you against fraud and abuse and enhancing your digital finance experience.
Q: Why is PLAID involved?
A: Building digital connections to a single financial institution takes time and expertise. Plaid has secure connections to over 12,000 financial institutions, allowing you to connect your institution quickly and securely to your apps.
Q: How does PLAID work?
A: PLAID provides tools that enable you to share your financial data with the apps that provide services to you. If you choose to connect with PLAID, you’ll enter your username and password associated with your financial institution. Your username and password are not shared with the app, and you can delete your data from PLAID’s systems at any time by visiting the PLAID Portal.
Q: If I run into issues when attempting to link my bank account with PLAID, how do I get help?
A: Click on the error messages contained here for resolution on common errors such as “Username or password incorrect” or “Action required with your account.” Click this link to be redirected to PLAID’s Help Center to search on any other error messages.
Q: Why am I unable to find my financial institution when attempting to connect?
A: There are a few reasons why your financial institution may not be available to connect. This link provides some additional information.
NOTE: If you need to update your payroll bank account ahead of your next payroll check date, the option to manually key your updated bank routing and account number can be selected from the Company page within the product and selecting Bank Account.
Q: What data does PLAID access from my financial institution?
A: The data collected, used, and shared depends on the PLAID products and services that you, or the app you have connected to, use. This information may include account holder information, account transactions, and account details. For more information on the types of financial data PLAID accesses, please review how PLAID handles data, and the PLAID End User Privacy Policy.
Q: Is PLAID secure?
A: Every PLAID product is built with meaningful control and security in mind. PLAID’s security practices are designed to meet or exceed industry standards, with numerous controls in place to keep your personal information safe. PLAID uses best-in-class encryption protocols, secure cloud infrastructure, multi-factor authentication, and around-the-clock monitoring to protect users’ data. In addition, PLAID works alongside the most trusted security researchers, app developers, and financial institutions to regularly audit PLAID’s API and security controls. For more information on PLAID safety standards, please click here.