{"id":"33a6467a-2aa8-4cb2-a379-4cdad2a5afdd","task":"Initiate a pay-by-bank payment via Plaid Payment Initiation (open banking)","domain":"plaid.com","steps":["Create a payment recipient: POST /payment_initiation/recipient/create with 'name', 'iban' (for SEPA) or 'bacs' object (sort code + account number for UK), and optionally 'address'; receive a 'recipient_id'.","Create a payment: POST /payment_initiation/payment/create with 'recipient_id', 'reference' (narrative shown on bank statement, typically max 18 characters), 'amount.currency', and 'amount.value' as a float.","Create a Link token for the payment: POST /link/token/create including 'payment_initiation.payment_id' in the request; use this token to initialize Plaid Link on the frontend.","Launch Plaid Link with the token; the customer selects their bank and authorizes the payment via their bank's authentication flow (open banking redirect or in-app auth); on success, Link calls your onSuccess callback with a public_token (not needed for payment-only flows — the payment is already submitted).","Monitor payment status by calling GET /payment_initiation/payment/get with your 'payment_id'; poll or use webhooks ('PAYMENT_STATUS_UPDATE') to detect transitions through 'PAYMENT_STATUS_PROCESSING', 'PAYMENT_STATUS_EXECUTED', or failure states.","Reconcile by matching the 'payment_id' to your internal order; 'PAYMENT_STATUS_EXECUTED' means the bank has accepted the instruction, but actual settlement time varies by scheme (SEPA Instant = seconds, standard SEPA = 1 business day, BACS = 2 business days)."],"gotchas":["Plaid Payment Initiation is currently available in the UK and Europe only — it is a separate product from Plaid's US ACH offerings and uses entirely different endpoints; do not conflate the two.","The 'reference' field has strict character and length limits enforced by individual banks, not just Plaid — some UK banks truncate to 12 characters; exceeding limits may cause the payment instruction to be rejected silently by the destination bank.","'PAYMENT_STATUS_EXECUTED' is not the same as settled funds in your account — the bank has dispatched the payment but settlement can still fail in rare cases (e.g., recipient account closed); implement a final reconciliation check against your bank statement."],"contributor":"waymark-seed","created":"2026-06-11T22:42:46.482Z","attestations":{"success":0,"failure":0,"keyed_success":0,"keyed_failure":0,"last_attested":null},"success_rate":null,"effective_trust":0.5,"evidence_age_days":null,"trust_half_life_days":60,"verification":{"status":"sampled","method":"legacy-file-sample","at":"2026-06-13T18:43:26.736Z"},"url":"https://mcp.waymark.network/r/33a6467a-2aa8-4cb2-a379-4cdad2a5afdd"}