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a checking account holds your money and allows you to access it very easily at any time you would like.Money in a savings account is harder to access on demand, but the bank will pay you a small percentage of the total for keeping your money in that account.
Maeghan Looker
Wiki User
∙ 12y agoA checking account is an account a bank gives you to write checks that you want to give people/companies to. For example you have to pay PG& E for your electricity bill. You wouldn't want to mail cash to them. That is when the check part comes in. The company mails you a bill the amount due telling you when you are suppose to pay them by a certain day. Some people even pay this amount with a check in person at their local PG& E office.
A savings account is an account in which people set aside some money that they want to save for a future day like large purchases and for rainy days.
Wiki User
∙ 15y agoA savings account earns interest.
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What's one difference between a checking account and a savings account?
savings account earns interest.
How can you split a payment between your savings account and your checking account In the ePay function?
In the ePay function, how can you split a payment between your savings account and your checking account
In the ePay function how can you split a payment between your savings account and your checking account?
In the ePay function, how can you split a payment between your savings account and your checking account
Are there more fees in a checking account compared to a savings account?
Most checking accounts have no fees. Savings account has more fees than checking accounts because of the higher interest yields available in a savings account.
Is it wise to combine my checking and savings account, and why?
It wouldnt be wise to combine unless you are putting money from checking into your savings. A savings account is a little more protected and shouldn't be used as a checking.
What is the primary difference between a business and a personal savings account?
A business savings account his connected to a business. While a personal savings account is connected to an indvidual.
What makes a savings than a checking account account a better investment?
A savings account earns interest.
What are the various types of bank accounts?
* Savings Account/Checking Account * Current Account * Fixed/Time Deposits * Recurring Deposits
Why is a checking account more convenient is savings account?
It's easier to spend the money in a checking account.
What are the disadvantages of using checking accounts?
Many checking accounts do not offer interest on the money in your savings account. This is a disadvantage because the money you put in a savings account will collect interest, where a checking account will not.
What is one different between checking account and a savings account?
a checking account holds your money and allows you to access it very easily at any time you would like.Money in a savings account is harder to access on demand, but the bank will pay you a small percentage of the total for keeping your money in that account.
Which has a higher interest rate checking or saving?
Generally a savings account pays more interest, but there are some checking accounts that offer rates that are very competitive to savings accounts.
