Commercial Bank and Checking Accounts

What are the purposes of a checking account?


Top Answer
User Avatar
Wiki User
2011-09-24 15:43:34
2011-09-24 15:43:34

A checking account is a basic type of account where you can keep your money and use it as and when you like. Having a checking account is good because:

  1. You can save your surplus cash in the account for your future needs
  2. You get an ATM/Debit card that you can use for shopping
  3. You get a check book that you can use to pay off people money that you owe them
User Avatar

Related Questions

It is probably in your best interests, for tax purposes, to open a business checking account. To create one, it is necessary to have the capital to make having a business account necessary.

At least 3. A checking account, a savings account to link to the checking account so the bank doesn't charge you for overdraft fees and a separate savings account in a different bank just in case of emergency purposes.

No. Checking accounts do not pay any interest. Since the money available in your checking account is liquid cash which is used for day to day purposes and can be withdrawn multiple times banks do not offer interest on cash maintained in a checking account.

A checking account is also called a transactional account or chequing account.

Your bank routing number is on the left side of the checking account and the checking account is next to it.

"A high interst checking account is a type of checking account that earns interest. Usually these accounts have higher interest than a regular checking account, but not as high as a savings account."

A business checking account is different from a personal checking account by the minimum amount of desposit. You can read more at › Directory › Financial Services › Banking

average return on a checking account is about 0.1

Yes it is required by law that you are 18+ to have a checking account.

Yes! Creditors can garnish a personal checking account. As long as the creditor has the checking account info they can garnish a checking account.

a trust account means you trust the person that is opening the account, and a checking account means you will keep checking it to make everything is okay.

First you have to go figure out what bank you want to get a checking account with, go to that bank, tell the person at the desk you want to open a checking account and then go on from there. You can also open a checking account over the phone or on the internet.

Signatory means that the person who owns the checking account has signed something linked to the checking account. This could be a document or a check.

It's easier to spend the money in a checking account.

No. Ownership of a a joint account passes automatically to the surviving joint owner unless it can be proven that the account was set up as joint for purposes of convenience only by the decedent.

At Chase, you can have a checking account with one of your parents if you are in high school.

money in a checking accountMoney in a checking account

Money in a checking account is called demand deposit.

Impossible to know unless you have his checking account information.

A non-checking account is the account in which cheque book is not issued like for customer for getting loans

You can get a checking account at Wachovia by filling out a form and submitting it to a local branch.

There is a way to earn interest on a checking accounts and can be added to the account. You will have to back through a credit union.

In order to open a business checking account online you first need to decide which bank you would like to have a checking account through. Then you should go to the website and follow the steps listed to open a checking account.

Checking records are the records of transactions in a checking account in a bank.

Copyright ยฉ 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.