This guide runs through a list of apps that use Plaid, including some top business, money transfer and cash advance apps that use Plaid to offer an easier user experience to their customers.
We’ll also touch on a smart, low-cost way to manage your money across currencies and make global payments - Wise. With Plaid, you can connect your Wise account to other apps - like Venmo or Chime - to move money with ease.
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Banking apps
Plaid powers huge numbers of financial apps¹, allowing users to securely link their bank accounts to apps for seamless and safe transactions.
If an app you want to use works with Plaid, you’ll be notified when you sign up or register an account. Usually this means you’re directed to the Plaid page as part of the app’s onboarding process, where you enter the online banking information for the financial account you want to link to the app. The data the app needs to operate is then securely shared, so you can start using it.
What banking apps use Plaid?
Plaid is used by a broad number of banking apps. Some of the most popular include:
Varo
Chime
MoneyLion
M1 Finance
MSUFCU²
FirstTech
What bank accounts work with Plaid?
Over 12,000 financial institutions globally work with Plaid³. You can find a sample of banks in the US which use Plaid over on the Plaid desktop site - or ask your own bank directly if they connect with Plaid.
Which banks don’t support Plaid?
If you’re struggling to connect your financial account to an app through Plaid, it may be because Plaid isn’t integrated with your financial institution yet⁴. Alternatively, it might be because even though your bank is integrated with Plaid for some types of integrations, the specific integration required for the app you want isn’t supported at this time.
When you’re prompted to connect your bank through Plaid, you’ll be able to search for the specific institution. If your bank isn’t supported, you’ll need to reach out to the app to get more information about how to use their services if your bank isn’t connecting via Plaid.
Cash advance apps and loan apps
Another type of app that uses Plaid covers consumer lending, cash advances and loans. Where cash advance apps use Plaid, it can be to verify the identity of loan applicants and comply with financial regulations, and to build a snapshot of the creditworthiness of an individual through accessing information about their financial position and employment.
Using Plaid allows cash advance and loan apps to make faster, more informed decisions about whether to lend to a customer, for a smoother user experience. It also allows the app to easily deposit money into a customer’s bank account when their advance or loan application has been approved.
What cash advance apps use Plaid?
Some popular cash advance and loan apps that use Plaid include:
- B9
- SoFi
- Figure
- Petal
- Avant
- Brigit
- Solo
- Klover
- Purpose Financial
What cash advance app doesn’t use Plaid?
Plaid is widely used by lots of financial apps, including cash advance apps. To check if the one you prefer will work without Plaid, you’ll need to get in touch with the app directly. You can also usually find information about which third party services - like Plaid - the app uses, by looking at the app’s privacy policy.
Payment or money transfer apps
You can use Plaid to make a transfer through a range of different apps, including:
Wise
WorldRemit
Venmo
Metal
Paysafe
Current
Each of these money transfer services has its own features and fees, so you’ll need to compare a few to pick the best one for you. WorldRemit for example can help with international payments to be collected quickly in cash, while Venmo is a good option for social transfers in USD to friends here in the US. If you want a flexible account to hold multiple currencies and send money around the world - including options to use Plaid to send in USD through apps like Venmo, you may also like Wise. More on that next.
Link your Wise account with Plaid today
Wise offers a smart digital account to hold 50+ currencies, which you can also integrate with Plaid to connect with other apps - like Venmo or Chime. That means you can use your Wise Account at home and abroad, to get paid and make payments with ease through seamless integrations.
Open a Wise Account online or in the Wise app, to get local banking details for up to 10 currencies, send payments to 80+ countries, and get an international debit card to spend in 170+ countries.
All currency conversion uses the mid-market rate with low, transparent fees, so whether you’re at home or overseas, you’ll know you’re getting a fast, cheap and efficient service, plus one of the fairest exchange rates out there every time.
Get a Wise account today
Please see Terms of Use for your region or visit : Only Pay for What You Use for the most up-to-date pricing and fee information.
Saving and investing apps
Here’s a run through of some popular saving and investment apps which are powered by Plaid:
- Robinhood
- Acorns
- Digit
- Ellevest
- Qapital
- Atom
- Betterment
- Stash
Can Plaid connect to Cash App?
Cash App is compatible with Plaid, so you can use Plaid to seamlessly link your bank account to Cash App to make instant payments in the US and to the UK.
| 💡 Learn more about Cash App on Plaid here. |
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Business apps
Apps can help business owners cut down on administration time, process payments and more - and it’s no surprise that many integrate with Plaid to make life that little bit easier for customers. Here are a few business apps that work with Plaid:
- Abacus
- Expensify
- Wave
- Justworks
- Stripe
- Bench
- Fundbox
Shopping apps
Shopping apps like Drop can use Plaid to help customers earn rewards as they spend.
What can be some use cases for Plaid?
Plaid is used extremely broadly across multiple different types of app. Because the information each app needs is different, the potential applications of Plaid can be pretty varied - here are a few:
- Plaid can help financial apps verify a customer's identity to comply with KYC rules and prevent account fraud
- Plaid can help link accounts to budgeting and investing apps, so you can get a quick overview of your finances or budget
- Plaid can help loan and cash advance apps check a customer’s income and employment to help them assess creditworthiness
Is Plaid safe?
One of the main reasons so many businesses use Plaid is that it adds an extra layer of safety and reassurance to customers onboarding onto their apps. Plaid doesn’t share your online banking details with the app you’re linking to, which means you can safely link without worrying about your information being compromised. Once you’ve used Plaid to link to any app, you’ll remain in control of the data you share and can review, make changes or delete connections as needed.
| 💡 Get a full Plaid safety review here. |
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Bottom line
Plaid is a popular way for financial apps to link to banks and other financial institutions, to allow you to share the information the app needs to function, without fear of your data being abused.
As a middle man in the process, Plaid adds an extra layer of reassurance because you know the app will only get the specific data required for the service you need - and you can always manage or remove the connections later when you no longer use the app. Because it’s convenient, safe and easy to use, the number of apps integrating with Plaid is growing as more providers choose to get onboard - this list of apps that use Plaid can’t cover them all, but does pick out some highlights from the array of Plaid compatible apps out there.
Sources:
All sources checked on 22 December 2022
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information. This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional. We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
