What does external account mean? Why do I have to wait to get money into it?

To open an account, your initial deposit is made by cheque drawn on a personal account at a Canadian bank account in your name made payable to Bridgewater Bank, which is referred to as your external account. It’s the account used for transactions to and from your Smart eSavings Account.

We need to issue a credit to your external account, which pending processing times and bank holidays can sometimes take 3 to 5 days.