3 ms·

Wait, so if I pay someone with ACH, they get to see how much money is in my bank account? WTF?

• rwmurrayVT 11y ago
  No. Plaid does it all in the back end and issues the merchant a "Pass"/"Fail" on verification.
• zrail 11y ago
  No. Plaid instant verification uses your bank login info to get the ACH numbers along with current balance, etc. You can't get that just with account and routing number.
  • FireBeyond 11y ago
    Yeah, like I mentioned upstream, not sure why any developer should have access to my account balance...
    • mateosu 11y ago
      I mean, these are fintech companies we're talking about here. If you're signing up for these services your generally already deciding to trust the company with personal data. Plus, you still have to login to your online banking with Plaid, it's not like developers have unlimited, unauthorized access to you r account balance and transaction information.
      • FireBeyond 11y ago
        There's a difference between - "I am paying you with ACH routing and account information" and "The payment platform exposes, to the app, my account balances". A huge difference.