Link & unlink a bank account
Frec uses Plaid to connect external bank accounts to your brokerage account. If your external bank does not utilize Plaid, you will be unable to make ACH transfers on Frec’s platform. You can, however, create wire transfers from that bank. There is a $25 fee for all outgoing wire transfers. There is no fee for incoming wire transfers.
You can connect your external bank account by going to the “Transfer” tab and clicking “Deposit cash” and the “Continue” button. You can then select or search for your banking institution to add to your Frec account. Once you select your external bank, you will be prompted to enter your username and password associated with that outside account. Frec will not retain the information entered, it is only to connect the account. Once the account is connected you can select the amount you want to deposit into your account.