Review Time
Plaid is a dangerous company with suspicious ulterior motives. Do not trust this company!Today I wanted to transfer some money from my Robinhood account to my checking account. This is the first time ever I asked for money back from Robinhood. So far I have only transferred into Robinhood many thousands. For the transfer out, Robinhood now started a lot of shenanigans, including verification of my bank account and myself, though I used the same account to transfer in dozens of times. There where Plaid comes in. Plaid wanted me to log into my bank account, which I did. Then it wanted permission to access my balance history, transfer history, all other account info and other things, which seems so much way and beyond my account verification. I had to decline. I wonder to what end Plaid wants access to so much of my critical financial information. Beware!!!
I tried distributing cash out of my Equity Trust online account called myEquity.com which apparently uses a 3rd party service from Plaid. After stepping through an online distribution wizard the Plaid service takes over. Once authenticated to my personal bank through Plaid I get errors about my identity even though I've already authenticated myself. Customer Service can not nor will they even attempt to trouble shoot what is going on. They will refer you to Plaid but can't even provide a phone number or other contact information.
Plaid is now connected to Western Union, through "Instant Transfer". I mqde everything correctly. The money was withdrawn from my bank account and now, 24 hours later I am still waiting for my money to arrive. There is no cuatomer service from plaid, so that means that I have to talk to western union. Whom dont have a way to solve this problem or give me a timeframe where I can take my money from WU ofice. If I knew this I would ise normal transfer knowing the timeframe where I am going to get my money. Not with, as Western union said: no timeframe for me to get it. It is not that much but By what I read in here, the experience was not good either.
John Hancock uses this service for my account in linking to my bank account. First off the app wanted my username and password to my bank account which I surely will not put out on the internet. Then it asked for routing and account number which I provided for micro deposit. No numbers show up or come with my micro deposit which are required to register. Got a text message to click on link to proceed. Clicked on link and invalid URL message shows. Tried to contact Plaid and are no help because they have no one to speak with or to answer questions.
I have a Robinhood Investment account. When I signed up to Robinhood I provided them with state issued photo ID, bank account number and everything that was requested by Robinhood to open my account. I was contented to use Robinhood because of the "ease" of doing all my transactions directly through the Robinhood portal. I was not informed of a change in the portal requirements for transferring funds to and from my bank account prior to discovering that the change had taken place, and that it is "implied" that I have "privacy rights" yet I have been communicating these "rights" to Robinhood, and my desire to "opt-out" of the Plaid Service. I informed Robinhood that I did not choose to opt-in to the Plaid service, because I have no business in the UK, therefore the UK has no need for any of my personal information, or to be actively incorporated into any of my transactions w/Robinhood. After reading the Plaid terms I recognized, and informed Robinhood, that if it was a ligitimate service, Robinhood could just give them what they require since I had already given the exact same credentials to them when I opened my account. The Plaid popup still persists, and the support have not given me any method to circumvent this account access requirement despite several attempts at doing so. My point here is that you definitely need to read "Plaids terms & privacy statement"; I believe that you will find it very disturbing considering that says that you "will be shared" ambiguously with undisclosed other parties! It's been two weeks now, and I'm still trying to transfer money from my Robinhood account w/o using Plaid! I don't trust it!
If you’re a banking or financial institution, prepare for a ton of upset customers / clients. Clients / customers: if you use a bank or financial service who uses PLAID, prepare to set like an hour of your day aside every couple of months to resolve issues with your banking apps.
I connect the right password. Then they want my security questions - I answer correctly, They want the second security - I answer correctly. Then they want a email code that NEVER arrives!!!After finally getting into the account. They are requiring me to connect EVERY SINGLE account and not just my business account that I want Wave to have access to without another option. I can't uncheck boxes. This is the worst verification system ever!!
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Plaid is a technology platform and data network that enables applications to connect with users’ financial accounts. We lower the barriers to entry in financial services by making it easier and safer to use financial data. Today, we support developers in North America and Europe.
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