You can control your external bank connection to deposit or withdraw money from your M1 accounts. This article explains how to connect or change your linked bank, security protections, troubleshooting common issues, and other frequently asked questions.
Quick facts about M1 bank connections
You can only have one external bank connected at a time.
You may change your bank up to three times per day.
M1 supports most U.S. retail banks, but not all. Some institutions cannot be linked. For the latest list, visit: Unsupported Banks on M1.
Only checking or savings accounts can be linked. You cannot link trust accounts or other brokerages.
Email verification is required before you can connect a bank. Click the link in your original M1 welcome email if you haven’t verified yet.
Ad blockers may cause connection problems on web — disable them if you’re having issues.
Before changing your bank, clear any pending scheduled transfers.
How to manage your bank connection
If you have only M1 Invest accounts (Individual, Joint, IRA, etc.)
On Web, iOS, or Android:
Go to the Invest tab and select the M1 investment account you want to update.
Find and click Bank Connection.
Select Change and confirm your choice.
Follow the prompts to unlink your current bank and connect a new (or previously linked) bank account.
Tip: If you do not see the "Bank Connection" tab, update your M1 app or try on web.
If you have M1 High-Yield Cash or Savings Accounts:
Web
From the Home screen, click the name of your current bank account (shown near "Move Money").
Click Connect a new bank to start the process.
Follow prompts to link your new account.
Mobile
From the Home screen, scroll to All transfers (just above Recent Transfers)
Tap the name of your current bank under Linked bank.
Tap Change Bank and follow the instructions to connect your new bank.
Note: Your previous bank will become unlinked. You can reconnect a previously used bank if desired.
How to connect using Plaid
M1 uses Plaid, a secure, industry-standard service, to link external banks. Plaid offers two main connection options:
A. Instantly (Recommended)
Search for and select your bank.
Enter your online banking credentials (the ones used for your bank's app/website).
Choose the account (checking or savings) you wish to connect.
Confirm the connection.
B. Same-Day Micro-Deposits
Search for your bank. If it’s not listed, choose “Link with account numbers.”
Enter your account and routing numbers.
Confirm your name and account type.
Authorize Plaid to make a deposit of $0.01 (to validate ownership).
Within 1–2 business days, the deposit will appear in your bank account. Look in the transaction description for your verification code.
Return to M1’s bank connection area and enter the code to confirm.
Bank connection security
All connections use encrypted, industry-standard protocols.
M1 and Plaid do not store your bank credentials.
Only account ownership, routing, and account numbers are shared, never your password.
Linking your account does not grant withdrawal permissions except for transfers you explicitly initiate or schedule on M1.
Troubleshooting & common issues
Trouble connecting your bank?
Make sure your email is verified by clicking the link sent to your inbox when you opened your M1 account.
Disable any ad blockers or pop-up blockers on the web.
Ensure your bank isn’t on the Unsupported Banks list.
Confirm your external account is a U.S. checking or savings account (not a brokerage or trust).
Double-check that you’re using the correct bank credentials or entered the right account/routing numbers.
If micro-deposit verification, allow 1–2 business days, then check your statement for the $0.01 deposit and verification code.
If you continue to experience issues, contact M1 Client Success for assistance.
Frequently asked questions
What happens to my scheduled transfers if I change my bank?
Pending scheduled deposits or withdrawals will be canceled when you unlink a bank.
Re-establish new scheduled transfers after successfully connecting your new bank.
Can I connect multiple banks?
No, only one external bank can be connected at a time.
How often may I change my external bank connection?
You can change banks up to three times per day.
Can I link a credit union or an online-only bank?
Most U.S.-based credit unions and online banks are supported as long as they are not on the Unsupported Banks list.
Can I link a trust account or another brokerage?
No. Only personal or joint checking and savings accounts can be linked.
Is it safe to use Plaid?
Yes. Plaid is a secure, industry-leading service used by thousands of popular financial apps. Your M1 credentials are never shared with Plaid or your bank.
My bank isn’t supported. What should I do?
Review the Unsupported Banks list. If your bank is listed, you’ll need to use a different account at a supported institution.
I connected the wrong bank — how do I fix this?
You can change your bank in your profile at any time using the steps above.
M1 is not a bank. M1 Spend is a wholly-owned operating subsidiary of M1 Holdings Inc. M1 High-Yield Savings Accounts are furnished by B2 Bank, NA, Member FDIC.
M1 High-Yield Cash Account(s) is an investment product offered by M1 Finance, LLC, an SEC registered broker-dealer, Member FINRA / SIPC. M1 is not a bank and M1 High-Yield Cash Accounts are not a checking or savings account. The purpose of this account is to invest in securities, and an open M1 Investment account is required to participate in the M1 High-Yield Cash Account. All investing involves risk, including the risk of losing the money you invest.
This content was generated using artificial intelligence and is intended for informational and educational purposes only. While reasonable efforts are made to ensure accuracy, AI-generated outputs may omit key context; and should not be construed as financial, investment, legal, or tax advice. Users should independently verify all information and consult a qualified professional before making any financial decisions.
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