Add & remove an external bank connection to your Frec account

How do I link a bank account?

Frec uses Plaid to connect external bank accounts to your brokerage account. You can connect your external bank account by going to the Transfer tab > clicking Deposit. Then you can select or search for your banking institution to add to your Frec account. Once you select your external bank, you'll be prompted to enter the username and password associated with that outside account. Frec does not retain this information; it's only used to establish the connection. Once the account is connected, you can select the amount you want to deposit into your account.

What if my bank doesn't use Plaid?

If your external bank is not supported by Plaid, you will not be able to make ACH transfers through Frec's platform. Instead, contact us and we can help set up an alternative transfer method for your situation, which may include a wire transfer or an asset transfer through our clearing firm, Apex Clearing Corporation. Note that there is a $25 fee for all outgoing wire transfers, and there is no fee for incoming wire transfers.

How do I remove a linked bank account?

To remove an external bank connection from your account, navigate to Account settings > Accounts tab to unlink your current bank account.

Note that you can only have two bank accounts linked at a time. This is a limitation of our clearing firm, not Frec's platform. If you want to link a new bank account and already have two connected, you will need to unlink one first before you can add the replacement.