While these two items are quite different, they can easily get mixed up. Here's a brief summary of the two:
External account transfer
This is a transfer of funds between an account you own with us, and an account you own at another financial institution.
Linked external accounts
This is when you link accounts you have at other financial institutions to your mobile and online banking. These external accounts will display on your dashboard in a read-only form.
- Another common question we get is "Can a linked external account also do an external account transfer?" The short answer - not directly.
- The reason is that external account transfers are performed through the “Transfers” function of digital banking and you'll need to add the account information manually. During that process, you can use the same account you want to link if you’d like.
- Linked external accounts can only be viewed in digital banking. The information is in a non-editable state and can't be used for banking functions.