A Short Guide On Cashing Plaid

STEP 1

Login to your Bank with log with 3rd party financial management sites like Plaid ,Yodlee Finicity, Pocketguard etc..

listed these because they do not trigger and request for security code when the logs are being added to the website. Remember this is where you will get your trial deposit.

BUT there is a little gray area because yes they don't require OTP it solely depends on the bank itself.

Quick Overview

2 Different types of Plaid

Credential-based linking (classic flow):

• You enter your bank login, Plaid handles the rest, and you’re in, no OTP.

OAuth or tokenized linking:

• Your bank or the app wants extra verification, so it asks for a phone/email tied to your account, then sends an OTP. This is often required by Chime, Capital One, or newer fintechs that enforce stricter auth.

STEP 2

Login to your drop account.

STEP 3

Look for the transfer tab which is always in the upper bar.

STEP 4

Look for “add external account” and click on it.

STEP 5

Here you will need the Account number and Routing number from your logs. Add the account number and routing number of the logs as external account and send trial deposit to the logs.

STEP 6

In 2-3 days go back to the financial management site you added the logs to. Look for the micro deposit sent by the drop account.

STEP 7

Go back to your drop account and verify the external account with the micro deposit or trial deposit.

STEP 8

In most cases you can initiate a transfer from your external account which is your log to the drop account the same day. But I advise you to wait until 2 more days.

STEP 9

You should always read about the drop bank very well and know their daily limits.

STEP 10

For maximum success always trial a lower transfer first, for example try to transfer $2.5k as first time and you can go higher on the second time but it should always be within the limit of the bank.