Linking a Bank Account—Your Questions Answered
You may be wondering why EQ Bank requests your bank account details as part of the application process for opening a new account. We’ve put together these key points to help you understand how it will help you bank more seamlessly.
A smoother application process and more
At EQ Bank, we’re always focused on offering better banking to our customers - linking your account is the easiest way to start adding funds to your account. Once you’ve linked your account, you’ll be able to transfer money and start earning high interest on that amount immediately.
If you’re still unsure about linking an account, here’s some more information that we hope you’ll find helpful:
How will my bank account be linked?
We’ve partnered with Flinks, a Canadian technology company that links financial accounts seamlessly and securely. Flinks currently connects to over 250 million financial accounts and is trusted by hundreds of world-class companies. You can learn more about them here.
How long does it take to link my account?
Once you’ve entered your online banking information, your account will link instantly. Rest assured, EQ Bank does not view or access your sign in credentials. As part of your other bank’s sign in process, you may also be asked to answer a security question or receive a One-Time Passcode so your bank knows it’s really you. We assure you that EQ Bank does not and cannot view or access your sign in credentials from another bank. Once your account has been successfully linked, the card number (or username) and password you entered is not stored or saved by us or Flinks in any way.
How will my banking information be used?
Linking your bank account will help us to confirm the account belongs to you, for security purposes. Once your account has been successfully linked, the card number (or username) and password you entered will not be stored or saved by us in any way.
How do I know that my banking information is safe?
We’re committed to keeping your personal information safe, and we make it a priority to provide a secure banking experience. Our commitment to security extends to our partnership with Flinks. The Flinks account linking service is based on industry standard security protocols that are PCI-DSS and SOC2 compliant and utilizes HTTPS 256-bit encryption for communications and AES-256 hardware encryption for storage. For additional security, Flinks performs daily automated and manual application security testing, and meets the requirements of applicable privacy legislation. Flinks uses the latest encryption technology to protect customers and does not store any EQ Bank customer information on their data servers, at our instruction. To learn more about security at Flinks, please review this link.
We hope you’re feeling better about linking to your existing bank account as part of the EQ Bank account application process. If you still have any questions or concerns, feel free to reach out to our Customer Care Team.