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

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โˆ™ 2009-04-04 15:36:32
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Q: Why is a checking account more convenient than a savings account?
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Why is a checking account more convenient is savings account?

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

What makes a checking account more convenient than a savings account?

You can spend your money without having to withdraw cash first.

Are there more fees in a checking account compared to a savings account?

Most checking accounts have no fees. Savings account has more fees than checking accounts because of the higher interest yields available in a savings account.

Why is a checking account better than a savings account?

cause checking account is more safe

Is it wise to combine my checking and savings account, and why?

It wouldnt be wise to combine unless you are putting money from checking into your savings. A savings account is a little more protected and shouldn't be used as a checking.

Which pays a higher rate of interest a checking account or a savings account?

Generally a savings account pays more interest, but there are some checking accounts that offer rates that are very competitive to savings accounts.

What makes a checking account more convenient than a saving account?

You can spend your money without having to withdraw cash first.

Why does a savings account make a better investment than a checking count?

Savings accounts usually have higher interest earning rates as the money is more stable than a checking account whose balance fluctuates with income and expenses.

Is the interest rate paid on savings accounts generally less than the rate paid on checking accounts?

Actually it is the other way round. The interest rate paid out on a savings account is generally more than that paid out on a checking account. Checking accounts offer very little or no interest at all in most countries whereas savings account offer a small interest rate.

Does ING provide the customer with a savings account?

ING is a financial services firm that provides a variety of options to its clients. Checking and Savings accounts are some of the more popular offerings of this company.

How many checking accounts are there in the US?

The exact number of checking accounts is unconfirmed, but over 200,000,000 Americans have at least one checking account. As of 2013, more than 13.5 million Americans also had a Health Savings Account. Around 7.7 percent of Americans do not have any kind of bank account.

Can wife add her name to his checking account without his approval legally?

No she can't as a matter of fact without his written permission she can't even get general information about that account. This is what I found to be amazing, if this couple has a joint savings account, but the husband's name is the only one on the checking account, he is the only one that can legally transfer money from the savings account to the checking account. It also works this way if there is a joint checking account and money needs to be transferred from the joint checking account, to the savings account with only the husband's name on it, he is the only one that can move money from one account to the other. I am a bank manager and I know this is more information than you asked for, but when I have to explain this to couples, it often leads to a very heated discussion between them in my office. I live in Virginia and I can only answer for Virginia. I hope you found this answer helpful.

What is an overdraft protection fee?

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.

Can a creditor put an attachment on a joint account in NY?

A creditor can put an attachment on a joint savings or checking account in NY. When an account is held jointly with another individual, the creditor does not know who contributes more to the account and secures the account as an asset.

What is the difference between a checking and savings account in terms of interest rates?

Usually, most checking accounts don't pay interest at all or if they do, a very high minimum balance is needed. Usually when it is available, savings does have more interest paid, but not a significant amount more. Because checking accounts are made to be used, interest is often lower. Savings, and variations of it, tend to be higher because it is not often.

What is a joint checking account?

An account that has two or more owners.

How is a business checking account different from a personal checking 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

How do core banking solutions work?

A core banking solution is a combination of one or more services that are focused on meeting the current (and future) needs of an individual or company. For example, the most basic "core banking solution" used with individuals combines the following elements: * Checking Account * Savings Account * Debit/ATM Card linked to the Checking Account The most basic "core banking solution" used with business combines the following elements: * Corporate Checking Account * Corporate Savings Account * Corporate Debit/ATM Card linked to the Checking Account * Corporate Credit Card(s)

Where can one get a Halifax savings account?

There are many places that one can get a Halifax savings account. A Halifax savings account can be researched through local newspapers in Halifax. One could also contact Halifax to learn more on how to obtain a savings account.

How much should you have in a savings account?

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.

How are money market savings accounts different from regular savings accounts?

A money market savings account is a special kind of savings account. Money market account holders receive more money on their return. Money markets are secure.

Can I get a free online checking account from Wachovia?

Yes, you can get a free online checking account if you deposit more than 1000 dollars

Is a checking account or savings account better?

Ideally you should have one of each. Checking give you more access to your money, but do not pay usually pay interest. Saving accounts are designed for people to have an easy place to store the money they do not plan on spending immediately. Savings accounts tend to earn small amounts of interest. It is actually better to invest money you are not planning on spending anytime soon to make more money

Why should a company open a business savings account?

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

A savings account increased by 75 is now more than 500. What is the least amount of money that was originally put in the savings account?

x > $425.00

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