Linked Account

A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.

Related MoneyPedia terms

• Overdraft ProtectionA bank service that covers transactions when your balance runs short, usually by pulling from a linked account or a small line of credit.
• Checking AccountA bank account built for everyday spending, letting you deposit money and pay for things with a debit card, checks, or transfers.
• Savings AccountA bank account meant for storing money you don't need right away, usually paying a small amount of interest on the balance.
• ACH TransferAn electronic money movement between banks through the Automated Clearing House network, used for payroll, bill pay, and account transfers.
• Sweep AccountAn arrangement that automatically moves excess cash from your checking account into a higher-interest account or investment overnight.
• AutopaySetting up bills to be paid automatically from your account on their due dates so you avoid late fees and missed payments.

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Plain-English education — not personalized legal, tax, or investment advice.