What is Plaid?
Plaid is a service that allows employers to securely verify and connect their company bank to their payroll account. Employers now have the ability to instantly verify their company bank account through a Plaid integration, removing the need to manually verify a bank through micro deposits.
How to verify company bank account using Plaid:
When an employer goes to add a new bank account, there is now an Add with Plaid button
Search for the name of the bank the company uses
A popup window will appear where the employer will need to enter their bank username and password
The employer may have a verification code texted to their phone to complete the login
Once logged in, the employer will select which account should be connected with Plaid for payroll
After being successfully connected through Plaid, the bank routing and account number will automatically populate in the bank account card
Click Save at the bottom of the card
FAQ:
Is Plaid bank verification available for workers to verify their bank accounts?
No, right now Plaid verification is only available for employer’s company bank accounts.
Do all banks support Plaid verification?
Most large banks are supported through Plaid with the exception of Capital One. Smaller local banks or credit unions may also not be supported by Plaid.
If a bank account was verified through micro transactions does an employer need to verify their bank through Plaid now?
No, if a bank has previously been verified through micro transactions, an employer will not need to also use Plaid verification.
Is it a requirement to connect all newly added employer bank accounts using Plaid?
No, although Plaid verification is the first verification option when adding a new bank account there is still an option to manually verify a bank account using micro deposits. Manual bank verification takes 1-2 business days.
How can I reset my password if I am unable to login to add my bank account
Login is done through your online bank account access. Please follow your bank’s password reset process.
How to troubleshoot issues with Plaid verification:
An employer may need to use two factor authentication when logging into Plaid. This will require a verification code that is sent to the employer’s mobile number.
If login information auto populates in the employer's web browser, make sure the employer is selecting the correct bank during the Plaid verification process.
The employer may need to clear their web browser cache if they receive an error when attempting to log into the bank account.