📽️ Videos
What is an external bank account in Clearing?
An external bank account, in the context of Clearing, refers to a financial account that is held with an external financial institution outside of Clearing's platform. Users can link their external bank accounts to Clearing to facilitate various financial transactions, manage balances, and categorize expenses. Clearing uses Plaid, a financial aggregator, to securely connect with these external bank accounts and receive transaction notifications without storing sensitive information such as login credentials. This linkage allows users to view account balances, categorize transactions, and use external bank accounts as a source of funds for making payments within the Clearing platform.
Can I pay from an external bank account?
Yes, you can make payments from external bank accounts linked in Clearing. In the payment category, you can choose the source of funds, and for most institutions, Clearing has connections to facilitate payments. Watch the payment video for detailed instructions.
How do I link an external bank account?
To link an external bank account, click on "External Account," select the financial institution you've linked or add a new one. If it's an existing institution, choose "Link Account - Existing Institution" and provide your login credentials. For a new institution, use "Link Account - New Institution" and follow the steps.
What is the difference between linking an account from an existing institution vs. a new institution?
Linking an account from an existing institution involves selecting a financial institution you've already linked during onboarding. For a new institution, you go through the linking process as if it's the first time, providing the necessary details for the new financial institution.
How can I unlink an external bank account?
To unlink an external bank account, go to the external account section, choose the account to unlink, and follow the instructions. For existing institutions, you can use the Plaid process to manage linked accounts.
Why is the balance of my external account unavailable?
If the balance of your external account is unavailable, it could be due to issues with the connection. You can troubleshoot by refreshing the connection, or checking for any troubleshooting options provided in the video.