Q2 Gro-Plaid integration enables you to open and fund accounts beyond checking and savings accounts, including products such as CDs. The following diagram shows a high-level view of the Q2 Gro account opening and funding process when used with Plaid integration.
After customers choose to fund their account by FI transfer, Q2 Gro uses the Plaid API to complete the following steps:
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When an FI transfer is selected as the funding method, Q2 Gro connects to Plaid. Plaid returns a list of supported FIs.
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Customers select their FI and enter credentials.
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Plaid returns the following account information:
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Identity details such as name, phone number, and email address from the external account. The FI can optionally choose to have Q2 Gro compare the returned information with the information provided in the application.
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Current and available balances from the external account which Q2 Gro compares to the funding amount specified in the application.
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If the available balance is greater than or equal to the funding amount, Q2 Gro initiates the ACH funding transaction as configured by the FI. Current ACH funding options are:
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Q2 Gro provides a NACHA file for processing by the FI
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Q2 Gro sends information to a third-party payment provider.
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