Plaid is an industry-leading service that allows for the instant verification and use of a bank account to make donations. We partner with Plaid to give donors the ability to donate via ACH (direct debit from a bank account) without using their routing and bank account numbers.
We suggest donating via bank account because it is the most cost effective payment method. Stripe, our primary payment processor and partner of Plaid, charges 0.8% (with a cap of $5) to process a direct debit. This compares to Stripe's credit card fees, which can range from 2.2% - 3.5% depending on the card.
We know some of you are hesitant to enter your online banking credentials anywhere outside your bank's own site. We encourage this hesitation -- it's smart to learn more about the security of a platform before sharing financial details with it. Plaid is a secure, audited, and trusted system that has built partnerships with most major US-based financial institutions and thousands of credit unions across the country. Plaid is also a trusted provider for major financial apps and services, like Venmo, Robinhood, and Stripe. Put simply, your bank is on the Plaid platform because your bank trusts Plaid. We encourage you to read more about Plaid security to help you make an informed decision.
An important note: Give Lively never has direct access to your bank username or bank password. When our service prompts for this information, you are actually interacting with a secure window into the Plaid system that pops up onto your screen. Your credentials are securely encrypted between that pop up window and Plaid, using industry-standard end-to-end encryption.