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.


Related Questions

The purpose of a checking account verification is to ensure that you live at the address mentioned during the application and that all your documents check out.

"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."

The purpose of a checking account statement, or any type of account statement for that matter, is to keep track of your account and make sure that no fraudulent activity is happening without your knowledge. Better to be safe than sorry!

To keep track of the amount of money in your checking account

An online checking account allows you to view your balance and pay bills from your account. Some banks are starting to implement systems where you take a photo of your check and send it to your online account to deposit it.

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 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

In order to keep an accurate eye on one's finances, balancing and monitoring one's checking account helps out a great deal. It displays any irregularities and insures that you don't write a check that exceeds your account balance.

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.

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.

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