Question
What is the difference between a checking and savings account?
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4th Feb 2010 by Daniel Cross, ChFC
Checking accounts are generally non-interest bearing accounts, although some do offer a very small rate on the average balance held per month. They are mainly for check writing and bill paying services with a fluctuating balance.
Savings accounts are interest bearing accounts, but do not allow the freedom of check writing and bill paying that checking accounts enjoy. Most have a cap on the number of checks that can be written out of it per month.
Checking accounts are generally non-interest bearing accounts, although some do offer a very small rate on the average balance held per month. They are mainly for check writing and bill paying services with a fluctuating balance.
Savings accounts are interest bearing accounts, but do not allow the freedom of check writing and bill paying that checking accounts enjoy. Most have a cap on the number of checks that can be written out of it per month.
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6th Nov 2009 In Investing
1 Answers | 115 Views
Subjects: checking account,
savings account,