What is the difference between an "account" and an "institution" in TimelyBills?

In TimelyBills, "account" and "institution" refer to different parts of your banking setup

• Account:
  This refers to a specific bank account that you hold at a financial institution. Examples include:

  • Savings Account

  • Checking Account

  • Credit Card Account

  • Home Loan Account, etc.

• Institution:
  This is the bank or financial organization where your one or more accounts are held. Examples include:
  • Bank of America
  • U.S. Bank
  • Chase
  • Wells Fargo