Introduction to Transfer Overview

Plaid Transfer (US only) is a flexible multi-rail payment platform designed for companies looking to add or improve their bank payment solution. Transfer provides all of the necessary tools to easily send and manage ACH, RTP and FedNow transactions, including:

• Easy integration with a single API: Avoid the need for multiple service providers. Connect user accounts, make smarter transaction decisions, manage risk, and move money—all through a single Plaid integration.

• Fast settlement, simplified reconciliation: Sweep transaction funds into your treasury account quickly and balance your books with an intuitive reconciliation report.

• Multi-rail routing: Dynamic routing between RTP and FedNow. Fall back to same day ACH if needed

• Streamlined operational support: Manage daily operations with dashboards to easily monitor transfer activity.

• Payment risk reduction: reduce your return rates by using Plaid's risk engine.

The process below defines the highest level steps to move money via Transfer and monitor for updates.

Prerequisite: Prior to beginning your integration, complete the Transfer Application and receive approval. You can begin integrating with Sandbox while waiting for approval.

1. Initialize a Link session to link a consumer bank account

2. Authorize and create the transfer

3. (Optional) Monitor for updates to the transfer

4. (Optional) Reconcile with your bank statements

Additionally, implement additional features such as refunds, recurring transfers, or Transfer UI as needed.