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2009-07-12 15:28:01
2009-07-12 15:28:01

This depends entirely on what it is that you want the account for. If you're trying to gain interest on your money, probably a savings account is better, but by how much depends on the bank and the rates they are giving you. If you mainly want an easy way to store and spend money, a checking account is probably the way to go.


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Well first of all a checking account is much better than a savings account and that is how it is better

Both Checking Accounts and Savings Accounts are basic types of bank accounts provided by banks to their customers. The difference is: a. There are limitations on the number of trasactions that can be performed in a savings account on a per month basis whereas for checking accounts there are no limitations b. The interest rate offered by banks on savings account is much higher than what is offered on checking accounts because banks offer almost no interest in them

At Citibank, a customer needs to only supply $100 to open a savings account with and they don't even need to have a preexisting checking account with the bank.

When I know how much the trip will cost, I will transferthe funds from savings to the checking account.

You can have no money and still keep it open. Bank of America doesn't care if it doesn't have any money in it . If your savings account is linked to your checking account then it should be fine.

While a checking and savings account may factor into the decision whether or not to grant you a credit card, a much larger factor would be whether or not you have established other credit accounts.

Benefits for interest savings accounts include having quick access to money in case of an emergency. Although, saving accounts don't make much interests now a days having money in a savings account making interest is better than a checking account not making any interest.

If you had overdraft protection that linked the two accounts, then yes.

"Whidbey Island bank requires you to make a deposit of 100 dollars to open a checking account with them. If you are opening a savings account, you must deposit at least 150 dollars."

Impossible to know unless you have his checking account information.

An overdraft protection fee is a fee assessed to your account when: 1. You have set up overdraft protection for your checking account, usually in the form of a savings account or line of credit/credit card; and 2. You spend more money than you have in your checking account. Overdraft protection transfers money from the linked savings account or line of credit/credit card in order to pay for the expenses that you did not have enough money for in your checking account. There is a fee for this transfer, but it is usually much less - sometimes a savings of 50% - than an insufficient funds fee, which you receive when you spend more money than you have and do not have overdraft protection.

You can find the best savings account if you don't have much money at Another good site is

Actually there are no disadvantages of having a savings account. Saving money is a good habit and keeping it in a bank account is even better because it will earn you an interest. The only downside is that the interest earned in a savings account is much much lesser than a fixed deposit but nonetheless the money is liquid and you can take it anytime you want, which isn't the case with a fixed deposit.

Savings account limits and rates are varied and much information can be found online that will help people find a savings account that best suits their need.

A high yield savings account is more of an investment than a regular savings account. Most people put money into the high yield account without removing it for extended periods of time, so interest can compound. If you're living paycheck to paycheck, or are saving to travel in 6 months, a regular savings account is a much better choice.

A current account is an account used predominantly by businessmen. There usually a higher number of transactions that are allowed in a current account when compared to savings account and it also earns much lesser interest than a savings account. Savings accounts are much more common in India than current accounts.

It does not really matter how much money you put in a savings account. The more you put, the more interest adds to the amount. You can add money to the account at any time.

A passbook is useful for an individual with a savings account because it allows that individual to keep track of how much money he or she has in that account.

In the days before computers we used to use a "bank account book" or a transaction register to keep a log of our savings account. It was much like a checking transaction register. Your bank generally would "stamp" in the deposits and withdrawals.

You cannot make much money out of a Savings account. The purpose of this account is to save some money for our future. It does not earn much because of the high liquidity banks have to provide to the account holders. The returns in a savings account would be between 3-4% per year.

There is no cost to open a savings account at INTRUST; there are minimum that are needed to open one. For Money Market the minimum is $5,000.00, for a regular savings account, $100.00 and for the Youth Savings Program, $10.00

Well, if it was in a checking account, they would probably be charging you $4 a month. In a savings account it would probably earn between 1.5 and 3 % which would be $2.50 to $5 a month.

A company open a business savings account because it makes transaction and payment much easier. You can read more at

Ramona has $8.00 in her savings account and adds $1.00 each week. Claire has $12.00 in her savings account and adds $3.00 each week. After how many weeks will Claire's account have twice as much money as Ramona's? Answer:4

Health Savings Account (HSA) Savings CalculatorUse this calculator to help you determine how much your Health Savings Account (HSA) will be worth over time. Fine tune your plan by seeing what happens if you reduce your expenditures or increase your allowable deductible.

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