Plaid is a financial technology company that serves as the middle man between financial services and their users. Apps, like Venmo, Robinhood, Drop, and Wave use Plaid to securely link their users’ accounts to their own platforms. This way, the financial apps never access your information, relying instead on Plaid to supply it for them. More than 4,000 apps and 11,000 financial institutions use plaid and many apps rely on Plaid to easily secure financial access with their users.
Is Plaid safe?
We selected Plaid as our partner for many reasons. First and foremost, is their high standards for financial data security.
Traditional methods for providing your bank account information, which have historically been submitted on paper to your productions or via email with a copy of a voided check exposing all of your bank account and routing numbers leave room for data inaccuracy and malicious activity as well as a higher threat of potential theft. Leveraging Plaid for this instead enables stronger security and higher data integrity.
Plaid does not retain any banking information and uses your existing online banking credentials to securely verify your bank account when setting up your direct deposit.
How does Plaid work?
Plaid uses encryption and industry-standard security measures to provide an additional layer of security to production employees who set up their direct deposit information in the MyCast&Crew portal.
You'll be asked to enter the login credentials (typically your username and password) that you use when accessing your account through your bank's official website. Plaid will never ask for your debit/bank card PIN. Using a secure connection, Plaid encrypts sensitive data and shares the information you've chosen to link with MyCast&Crew to successfully set up your direct deposit.
Again, Plaid does not retain any banking information and uses your existing online banking credentials to securely verify your bank account when setting up your direct deposit.