At Donut, our core goal from day one has been making DeFi investing accessible to all. Earning high yield with DeFi should feel as easy as sending a Venmo, so we partnered with Plaid to let anyone invest in DeFi directly from their bank account.

DeFi offers many ways to work your money harder, but connecting to the world of decentralized finance is often a complex and technical process. Through partnerships with Plaid and Evolve Bank & Trust, Donut lets you connect your bank, deposit funds and start earning 4-10% APY within minutes. Plus, we’ve recently updated the app to support even more banks.

Below, we’ll discuss how Donut is able to provide the easiest DeFi experience available, and walk through the ways you can connect your bank to the service.

DeFi made easy ✨

While there are many approaches to converting USD to digital assets, at Donut we’ve opted for the simplest process possible. We work with several payment and banking partners, including Plaid—the payment partner behind Venmo and Wealthfront—to enable you to connect your bank account safely and start earning interest with the tap of a button.

With your bank connected, we take care of the rest: converting your USD into DAI (a stablecoin pegged to the US dollar) and providing it to DeFi lending platforms where your funds earn high interest in real time.

We also enable easy withdrawals directly to your bank. When you decide to withdraw, your funds are converted back to USD and sent to your bank via ACH within 1-5 days.

Donut's approach is unique in 3 ways:

  1. We make earning easy. Once your bank is connected, all you have to do is deposit to earn interest in real time. We do the rest.

  2. Reliable and safe. Thanks to Plaid and Evolve Bank & Trust, the process of adding a bank, depositing and withdrawing your funds is fast and secure.

  3. Less complex, more affordable. Typically, DeFi investing requires some technical skill and high transaction costs (called gas fees), which can add up for individual investors. We remove these barriers for all users.

But how do I connect my bank? 🏦

Recently, our team has expanded bank connection capabilities within Donut to support even more institutions and ensure that users can add funds from their preferred accounts. Now when you select Payment Methods in Settings and tap “Add Account” you have 2 options: Connect via Plaid and Connect Manually.

Plaid provides an instant connection to your bank for over 9,600 institutions. However in the event your bank is not listed on Plaid or unable to connect instantly, we offer a secondary manual option to connect your bank in 1-3 business days.

Connect via Plaid ⚡️


When you select Connect via Plaid, you’ll enter Plaid’s secure portal where you can select your bank from a large list of financial institutions. Once you’ve found your bank, enter your credentials to instantly link your account.

After receiving a confirmation screen from Plaid, you are all set and ready to invest! In the case of a connection issue, however, Plaid may ask you to input additional account information to resolve any hiccups.

In most cases, if your bank is listed, Plaid will be able to verify and connect your bank instantly so you can start earning on Donut right away. However, Plaid does not cover all banks, so we provide an alternative connection method.

Connect Manually 🛠


In order to support nearly all bank accounts in the US, Donut allows you to provide your account and routing information and connect your bank manually.

Once you submit this info to our secure portal, our banking partner will send two automated microdeposits (they will typically be a random amount less than $1.00) to your account in order to verify the connection.

When two deposits from "Donut-Credit" appear on your bank statement (1-3 business days), you’ll need to complete verification in-app. Simply enter each deposit amount and confirm to complete your verification.

While this process is more hands-on than Plaid’s instant connections, we’ve designed it to support nearly any institution, so all users can connect and use their preferred accounts to deposit funds into Donut.

Rounding up 🙌

We hope this piece has clarified how Donut links to your bank for a smoother DeFi experience. One of the best ways to empower anyone to earn with DeFi is to provide reliable connections to more institutions across the country—and we've done just that.

As always, our excellent support team is here to help. If you have any difficulties connecting your bank or if you don’t receive your automated microdeposits from Donut within 3 business days, send us a DM in app or reach out to [email protected] and we’ll be happy to help.

Real talk 🚨

Any saving and investment strategy puts your capital at risk.

The above information is intended for informational purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.