Native Integration with Plaid: Bank Transaction Sync for Payment Reconciliation

Monk's native Plaid integration securely connects your bank accounts and syncs transactions for automated payment reconciliation. Match incoming payments to invoices without downloading CSV statements or manual data entry.

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How the Plaid + Monk Integration Powers Reconciliation and Cash Application:

Secure Bank Connection: Connect checking and savings accounts from any major financial institution via Plaid Link. Industry-standard OAuth keeps credentials secure—Monk never sees your bank login.

Automatic Transaction Sync: Transactions sync automatically every 6 hours. Incoming payments appear in Monk ready for reconciliation—no CSV exports, no manual uploads, no delayed data.

AI-Powered Payment Matching: Monk's AI automatically matches incoming bank transactions to open invoices using customer names, amounts, and timing. Review matches or let auto-reconciliation close the loop.

Multi-Bank Support: Connect multiple bank accounts from different institutions. Each account syncs independently, giving you complete visibility across all your AR deposit accounts.

What Makes Monk Different

Intelligent Matching, Not Just Data Sync

Unlike tools that just import transactions, Monk's AI actually reconciles them. Fuzzy matching handles variations in customer names and memo fields that break rule-based systems.

Unified AR Workflow

Bank transactions feed directly into your AR workflow alongside Stripe payments, manual entries, and invoice status. One view of all payments, regardless of source.

Intelligent Collections That Know When You're Paid

When bank transactions match to invoices, our AI agent automatically stops for those customers. Julia's outreach stays current without manual payment logging.

Reconciliation Tasks for Review

Every new incoming transaction creates a reconciliation task. Review AI suggestions, confirm matches, or manually assign—your choice of automation level.

Common Use Cases We Support

B2B companies receiving ACH and wire payments directly to bank accounts
Finance teams reconciling bank deposits to AR without spreadsheets
Multi-bank operations consolidating transaction data from multiple accounts
High-volume billing automating payment matching at scale
Audit preparation maintaining clear transaction-to-invoice linkages

Answers to Questions You May Have

Which banks are supported?
Plaid supports 12,000+ financial institutions including all major US banks. If your bank works with Plaid, it works with Monk.

How often do transactions sync?

Automatically multiple times per day, or trigger a manual sync anytime. Only posted (not pending) transactions are processed for reconciliation.

How does payment matching work?

Monk's AI agent uses transaction details suggest invoice matches. You can review suggestions or enable auto-reconciliation.

Can I connect multiple bank accounts?
Yes. Connect accounts from multiple institutions. Select which accounts to sync—you don't have to import every account.

Is my bank data secure?
Plaid handles the bank connection via OAuth—Monk never sees or stores your bank credentials.