Plooto Pricing, Features, Reviews & Comparison of Alternatives

Pros

It's simple, and that point needs to be kept in mind. The interface is intuitive and it syncs with popular accounting programs like QuickBooks Online. The best part of the program (in my opinion) is the AR function that allows you to set up a recurring ACH payment from clients for a flat fee. Depending on the size of your invoice this could save you some money in credit card or bank processing fees. Also, you can do ACH payment from a U.S. bank and deposit the funds in a Canadian bank account. It is a pretty cool feature that puts them above Bill.com. It also doesn't carry the monthly fee of Bill.com.

Cons

It takes way too long to send money across borders. My experience is with the Canadian/U.S. border. It took nearly two weeks from the time that the client authorized the payment until it was deposited in my account. Also, if you are using Plooto for a foreign currency exchange service much better rates can be found elsewhere. If you are using Plooto instead of Bill.com and need all of the permissions or invoice scanning functionality, don't expect it. However, if you want a simple AP and AR tool with an added bonus of being able to make and receive payments across borders, and you aren't time crunched to make or receive a payment, then Plooto is a great inexpensive option.

Pros

1-Easy to use
2- Dashboards are great
3- Cost is on point
4- Set up was easy

Overall has such potential to be a leader in this space, however, read cons!

Cons

1-Security
2- Customer services/Success
3- Accountability when errors are made-

Last week you guys seemed to have a system bug the resulted in your system double paying involves totalling 30K. This is a huge red flag for us on the controls and security of your platform. When we contacted you guys we were given no explanation and no solution. Just told to ask vendors for credit notes and this is just not a solution.. I need solutions and explanations fast or we will be removing our selves from your platform, won't roll out other companies and will certainly be adding the review on your product. This means we are currently out 30K and not to mention all the additional time this has take for my staff to investigate. The more troubling part is that we found this and this was not detected by Plooto. This is too bad as i feel your platform had lots of potential but when in comes to payments, security is the number one concern. Customer services would also be a good addition!

Pros

Cost Efficient

Ok- at least support responded if anyone was actually available.

Cons

Absolute disaster if you need funds transferred in any reliable or consistent time frame. The bigger the amount, the longer the wait took for a wire transfer to push through. I imagine it's because funds were being hoarded to capitalize in gains or wherever it was being held (6 figures sums took multiple weeks at points).

Terrible breaking between Quickbooks and Xero for existing customers. Failed multiple time on cash transfers, racked up charges.

If you're using it for personal use, I guess it's better than other means- I would just Venmo in that case honestly. If it's for serious business- DO NOT use. Especially if you do any kind of wiring of large funds in the six figure and up range. You will regret it, payments will be late, and you will rack up charges on returned payments and kill cash liquidity on the long waiting periods. Product not yet ready for mainstream business use in my opinion.

Pros

What I like most about this software is the pay as you go model. No upfront usage fees. You are getting charged for what you use. There isn't extra charge for syncing with your accounting software either, unlike Bill.com. You can sync your invoices, bills, and contacts to the system manually or all at once. You can select what to pay or who to request payment from. Pricing is very affordable.

Cons

The least favorite of this service is the lack of documented FAQs or how to use the system. I signed up and was brought to their main page. No tour, no help document to show me what to do. I had to figure it out. What does it look like to request money from a client? I had to send a test payment to myself to see what it looks like. Same as with sending out payments for bills. What does that look like for the vendors I want to pay? I had to send a test payment to myself as well so I can see what it looks like. It would be nice if they had sample screen shots so I can reference or show my clients what it would look like for training purposes.

Pros

Plooto saves me and my clients so much time is chasing invoice payments and mailing cheques for bill payments. The integrations with accounting softwares make it easy to manage vendor payments and mark them as paid. The pre-authorised debits make it easy to collect recurring invoice payments.

Cons

I'd like to see the time gap from invoice payment to cash in my bank and bill payment to cash in my vendor's bank shortened.