31–40 of 63 posts
Does anyone know if European SEPA actually overlap with Plaid here ? Was SEPA supposed to "commoditize" the whole "grant access to my bank account to 3rdparty" ?
Can someone pls ELI5 how Plaid, Yodlee, AuthLayer are valid businesses and not hit with regulatory hurdles? They seem to be scraping bank websites behind the scenes. Whilst I have no idea abt the US/EU market, I know for a fact that most banks do charge exorbitant fees to access accounts over APIs (esp if you're a BigCo and need that kind of control). Surely, the banks can't be happy abt that? Surprising they haven't…
Earlier quoted context omitted.
I came across Plaid for the first time today and when trying to make a transfer through Transferwise. When asked for my bank username and password at a website !my_bank I was like hell nope. Ended up having to use a credit card instead which had the highest fee... :( I hope this kind of garbage disappears.
I would rather have entered my logins and then changed the password if I was that concerned about entering my bank logins rather than pay those credit card fees. Or change the password first, login, and change back to your old password.
It appears from the docs that I'd need to pay $500/mo for very basic stats for anything not cash account balance related which is not feasible for my personal use.
My current alternative is Mint which is really lacking in the "automating my own spreadsheet with the data" department.
Something I've always worried about: if I provide my bank's login credentials to a service which uses Plaid/Yodlee and due to a security breach my bank account is somehow drained, who's liable? Most banks explicitly state that losses due to sharing of credentials are not protected by their fraud guarantees. Are customers at risk by using Plaid?
For those who have used Plaid for personal projects, can someone confirm if you can pull basic monthly stats by account for all account types, including cash, debt (CC/mortgage), and assets (investment accounts, etc.), and then net worth and net income, all while on the free or pay as you go plans? It appears from the docs that I'd need to pay $500/mo for very basic stats for anything not cash account balance related…
I've been using Plaid for a toy project for a while, and, while it works well, what surprised me the most was their support. I had an issue with my bank not sending me SMS and their support was quick and helpful, responding to my problem with actual feedback rather than canned responses. Now that I'm saying this, I realize what a low bar our current support climate has set, but Plaid is great on that regardless.