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Commercial Bank and Checking Accounts

What is the purpose of checking account?

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2011-01-23 10:24:59
2011-01-23 10:24:59

A checking account is one in which you keep a certain amount of money and use it for your regular day to day transactions. For ex: to pay your phone bill, to pay for your groceries etc. Banks usually do not give you a significant interest on your deposit in this account because of the liquid nature of the account and because you can withdraw your funds anytime you want.

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