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What does savings account mean?

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โˆ™ 2009-05-18 21:38:18

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Generally a savings account pays interest, and a checking (current) account doesn't.

Also, a savings account cannot be overdrawn, but with permission, it is possible to overdraw a checking (current) account. The previous person is correct, a savings account simply lets you save your money and make a little bit at the same time. With a savings account it is a little harder to spend it since they are not typically tied to a checkbook.

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โˆ™ 2009-05-18 21:38:18
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