Is It Safe To Link Bank Accounts? Having more than one banking account is a good thing because there are so many advantages that are attached to it. However, linking your bank account is also another good thing because they are also so many advantages attached.
If you have a savings account and a checking account in the same bank the question now arises is it safe to link a bank account?
We are going to be finding that out on this article today for everyone that is having more than one bank account in a bank and is looking forward to linking it. We are also going to be talking about the advantages and disadvantages of linking bank accounts and so many other things in this article today. So make sure you stay tuned and read this article to the end before going anywhere.
What is Bank Account Linking?
If you are having a savings account and a checking account in the same bank account linking is a process of connecting the two accounts together because you own them. When both accounts are linked then money can easily be transferred from one account to the other. It can also help you in setting direct deposit from your checking account to your savings account to automatically help you save.
There are so many advantages and disadvantages of linking your bank accounts together from convenience to exposing your data. But the fact remains that linking your bank account is a good thing and makes it easier to transfer money from one account to another. This is one of the reasons why people link their bank accounts together.
What Does Linking Bank Accounts Do?
One of the major reasons just as I have mentioned above why people look figures bank accounts together is because of the convenience of moving money from one to another. You can link your savings account to your checking account in the same banks or you can do so using various banks. It makes it very easy to conduct transactions between various Bank accounts electronically.
If you are opening a new service account at either are online or a brick-and-mortar bank it becomes easier for you to transfer your initial deposit from your checking account to that saving account because it is a requirement. You do not have to withdraw the money from your checking account and then go and deposit it in your savings because when both accounts are linked money can easily be transferred.
Is It Safe to Link Bank Accounts?
Now we have come to the main purpose of this article which is to answer the question if linking bank accounts is safe and the answer to that question is yes. Linking one bank account to another one is a very safe procedure. Linking a bank account is just as safe as any other banking activity that you will embark or carry out during banking because all bank activities are protected.
Banks implement various security measures to protect their activities online so that they do not get hacked by hackers. This is why banks are always very secure even when using your mobile banking application they are setting security measures that are put in place to secure your information. If you are still confused about your bank security measures you can simply check online to find out.
How to Link Bank Account
If you already have an existing checking account in a particular bank and you are wanting to open a new savings account with the same bank the accounts will be automatically linked. This is because your mum is going to ask you your preferred method of funding your service account and you can simply select your current account. When that is done money will be transferred from your checking to your savings thereby linking them.
However, in the case that you already have multiple accounts with the same bank which are not yet linked, you can simply contact your bank to make them for you. You did not need to go linking the bank account on your own because you can’t it is only the bank that can do so for you.
How to Link Bank Accounts From Different Banks
When linking accounts of the same banks to each other it can be done automatically for you by the bank however if you want to link different accounts from different banks you have to do with yourself. To link accounts of different banks together you will have to make use of your bank’s mobile banking app or their web banking platform. To do this you are going to be needing two things which are listed below:
- Routing number
- Account number
The routing number and the account number should be from the other bank that you want to link to your primary bank. When these things are ready simply login to your online banking platform and head over to the linking section to link them. Once both account numbers are linked together you can now find them next to each other when you log into your mobile banking platform.
What happens when you line your bank account?
When you link two bank accounts together it makes it easier to carry out electronic transactions with both banks. This means that moving or transferring money between both accounts becomes easy. This is one of the reasons why many people seek to link Their bank accounts together. Because it makes for easy movement of money from one account to another.
Why would I link bank accounts?
There are so many reasons why a person would link bank accounts together one of such reasons is to set up deposits to Their savings account. When opening a Savings account it is a requirement that you make an initial deposit which can easily transform your checking to your saving account when both accounts are linked.