Plaid connects to thousands of financial institutions, making it easier for users to link their bank accounts to various financial apps and services.
Understanding Plaid's Extensive Network
Plaid is a leading financial technology company that provides the underlying infrastructure for securely connecting consumer bank accounts to a wide array of financial applications. It serves as a bridge, enabling the secure and consented flow of financial data between a user's bank and the financial app they wish to use, such as budgeting tools, investment platforms, or payment services. This powerful instant bank linking system facilitates seamless and secure data sharing across a vast network of banks and credit unions.
Prominent Banks Connected to Plaid
Many of the largest and most widely used banks in the United States are integrated with Plaid's instant bank linking system. This integration allows their customers to securely and efficiently connect their accounts to the hundreds of thousands of apps powered by Plaid.
Here is a list of some of the major banks and financial institutions that are connected to Plaid's system:
| Bank Name | Type of Institution |
|---|---|
| Bank of America | Major Retail Bank |
| BB&T | Major Retail Bank (now Truist) |
| Capital One | Major Retail Bank |
| Chase | Major Retail Bank |
| Citi | Major Retail Bank |
| Fidelity | Investment & Brokerage |
| Navy Federal Credit Union | Credit Union |
| PNC Bank | Major Retail Bank |
| SunTrust | Major Retail Bank (now Truist) |
| TD Bank | Major Retail Bank |
| US Bank | Major Retail Bank |
| USAA | Financial Services Group |
| Wells Fargo | Major Retail Bank |
Note: BB&T and SunTrust have merged to form Truist Financial Corporation. Their services remain widely accessible through Plaid's network.
Beyond Major Banks: A Broader Reach
While the list above highlights some of the largest and most commonly recognized institutions, Plaid's network extends far beyond these major players. Its reach includes:
- Regional and Community Banks: Plaid integrates with numerous smaller, regional banks and community banks, providing broad coverage across different geographical areas.
- Credit Unions: A significant number of credit unions are also connected, offering their members the same secure data-sharing capabilities.
- Online and Neobanks: Many modern online-only banks and challenger banks also leverage Plaid for seamless account connectivity, catering to a growing segment of digital-first consumers.
In instances where a specific bank may not be directly supported by Plaid's instant linking, alternative verification methods like micro-deposits are often available. These methods, while taking a bit longer to process, still allow users to connect their accounts. Plaid continuously works to expand its network, adding more financial institutions to enhance connectivity for millions of users globally.
