Linking a Bank Account—Your Questions Answered

Last updated: November 12, 2019

You may be wondering why EQ Bank requests your bank account details as part of the application process for opening a new account. We understand if it’s an unfamiliar request, since traditionally, signing up for a bank account doesn’t involve providing details from your other bank.

A smoother application proces­­s and more

At EQ Bank, we’re always focused on offering better banking to our customers, and linking to an existing bank account is a secure and instant way to help us verify your identity—while making the overall application process even easier. It also means that once your new account is active, you’ll be able to deposit money from your linked account right away!

If you’re still unsure about linking an account, here’s some more information that we hope you’ll find helpful:

Why should I link my banking information to complete my application?

We’re focused on keeping the process of opening a bank account as simple as possible for you, and linking to a bank account allows us to verify your identity more easily, which can help you complete your application sooner.

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.

How will my banking information be used?

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.

How will linking my account improve my banking experience?

Linking your account not only streamlines the application process, but it’s the easiest way to start adding funds to your account. When you sign in to your new account for the first time, you’ll already be linked to another bank account; this means you can transfer money and start earning high interest on that amount immediately.

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.

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