Linked accounts.
In plain English
Linked accounts are two or more of your accounts connected at the same bank so money can move between them automatically, often for overdraft protection or easy transfers. A common setup links your checking account to your savings account so that if checking runs short, the bank pulls the difference from savings to cover the payment. Linking can also let you move money between accounts instantly or count combined balances toward a fee waiver. The accounts stay separate; linking just builds a bridge between them that you control.
01Why it matters
A link from savings to checking can quietly cover a shortfall and spare you an overdraft fee, though banks sometimes charge a small transfer fee for the move.
02The math, step by step
You link your savings to your checking. A $120 payment clears when checking holds only $100. The bank automatically transfers $20 from savings to cover it. You may pay a small transfer fee set by your bank, but that is usually much less than a flat overdraft fee on the same shortfall.
03What this is NOT
Linked accounts are typically your own separate accounts wired together so funds can move between them. A joint account is a single account owned by two people who both have full access. Linking connects accounts; a joint account shares one.
04Receipts
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Plain-English answers from our glossary. Receipts included. Never advice.
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