Top Answer
User Avatar
Wiki User
Answered 2011-07-20 21:58:55

Savings accounts are bank accounts that accumulate interest. You make deposits and withdraws at your bank and unlike checking accounts you cannot link a debit card or checks to the account. Most banks allow you to transfer money from your savings to your checking account and vice versa if you have both.

User Avatar

Your Answer

Still Have Questions?

Related Questions

Do online savings accounts work as in bank savings accounts?

Yes, online savings accounts do work the same as brick and mortar banks. In fact you may find that some online banks pay higher interest rates and are more convient.

What kinds of savings accounts are available to be opened at Capital Federal bank branches?

Capitol Federal Bank offers seven different options for savings accounts. These include Statement Savings, Money Market Select Accounts, CDs, Kid's Savings (Blue Bucks), Teen Savings Accounts (Blue Chips, Coverdell Education Savings Accounts, and the Better Savings savings account.

Does Wells Fargo of Texas offer business savings accounts?

Wells Fargo of Texas offers several types of business savings accounts. These include Business Market Rate Savings Accounts and Business High Yield Savings Accounts.

Why are saving accounts not subject to the fed reserve requirements?

savings accounts are not subject to the Fed's reserve requirements because savings accounts are not as liquid as checking accounts.

What type of savings accounts does Pioneer Savings Bank offer?

"Pioneer Savings Bank offers two different kind of savings accounts. For buisness or personal. Personal saving accounts include, Statement Savings, where you can recieve an atm card, and a Passport Savings, where you can only view it online."

What are the various types of accounts?

Savings and Checking Accounts.

Do college savings accounts offer better rates than regular savings accounts?

College savings accounts are tax free and tax deferred when they are withdrawn by the individual. The returns will vary. http://www.ehow.com/info_7994259_college-savings-accounts.html

What type of accounts does rainier pacific bank offer?

"The type of accounts the Rainier Pacific Bank offers are Savings accounts, Checking accounts, Investment accounts, online accounts, business saving accounts and high yield savings."

Can I open a savings account if I have a judgment against me?

Yes, you can open a savings account if a bank allows you to. Usually banks are not as strict with savings accounts as they are with checking accounts.

How are money market savings accounts different from traditional ones?

Money market accounts are typically tied to a stock that can rise in price. Regular savings accounts are not.

What is difference between savings and current account?

The differences are:Savings account earn higher interest than current accountsThere are limits on number of transactions per year in a savings account but there are no such limits for current accountsCurrent accounts are used by businesses and companies while savings accounts are used by normal customers

What is the high interest savings accounts?

High interest savings accounts are savings accounts that banks give you that let you earn lots of interest with benefits. They usually are the toughest to get because you need to deposit a certain amount of money.

What online banks have high interests savings accounts?

You can get a list of them here www.moneybluebook.com/the-best-online-high-yield-savings-accounts/

Who is the best provider of High Interest Rate Savings Accounts?

WaMu is the best provider of High Interest Rate Savings Accounts.

What has the author Cynthia Ramsay written?

Cynthia Ramsay has written: 'Medical savings accounts' -- subject(s): Medical savings accounts

What are the similarities between a current account and a savings account?

Similarities between current accounts and savings accounts would be: a. They both accept deposits b. You can withdraw money from both accounts c. You get an ATM card for both accounts d. You get a cheque book for both accounts e. You get a bank passbook for both accounts f. You get internet banking for both accounts The differences are: a. You get little or no interest in checking accounts whereas you get a small interest for savings accounts b. There are limitations about the number of transactions you can have in a savings account but there are no limits on the number of transactions for current accounts.

Is there an age requirement for opening a savings account?

No, parents can open savings accounts for children or children can open savings accounts for themselves. If a parent has opened a savings account for a child then they can put it in their name once they turn eighteen.

Where can one find the highest savings interest rates?

One can find the highest savings interest rates by going to the Savings Accounts website. The website has a list of the top 10 Savings Accounts that have high interest rates.

What exactly are high interest savings accounts?

It's exactly like low interest savings accounts except this time it's high. This way you can save more money in a high interest savings accounts. You have got to be high not to get this account.

What kind of interest could I get on money market savings accounts now?

You can get below 0.1% of interest on money market savings accounts now. You can ge the rates at www.PersonalSavings.AmericanExpress.com or www.citibank.com/savings

What is the advantage if a savings account over a checking account?

Savings accounts pay interest on the money in the account. Most checking accounts do not.

Who has the best interest rates for a business savings accounts?

ING offers a very simple web interface and a low fee savings account. They offer these accounts for business accounts as well.

Who Has Best Interest For Business Savings Accounts?

An excellent comparison site for business savings accounts is DepositAccounts.com. The website also provides evaluations of economic checking and cash market accounts.

What are some of the best interest rates for savings accounts?

Some of the best interest rates for savings accounts can be found online by comparing various interest rates from savings accounts that suit ones needs. Some of the accounts with higher interest rates in the U.S are Ever Bank, Ally and Barclays.

How can you attain the best interest rates on savings?

There are many options for savings accounts which provide different interest rates. For traditional savings accounts, online banks typically yield the best rates.

Still have questions?

Trending Questions
Previously Viewed
How do savings accounts work? Asked By Wiki User
Unanswered Questions