Marianna G
 |
A checking account is an account that you use, like when you write checks or use a debit card to buy something, it takes money out of the checking account. But a savings account is just to withdraw and deposit money, when you go to the bank. |
|
Karl
|
Ones for giving money to others, the other is for keeping money for yourself. |
|
bluefacedelf
|
If you write checks or have a debit card, then the money is drawn from your checking account. The checking account usually doesn't pay off any interest on the money in it, or if it does then it is at a lower rate than that of a savings account. |
|
crazybitchfromlynwood
|
Your money is always available with a checking account. A savings account usually is meant for uhhh SAVING money.... if you leave it in the back it grows (based on your interest rate).... It's always safe to have both |
|
Princess Cupcake
|
A savings account is an account that you do not touch and earns interest. Depending on the bank, you can get fined for taking money out of a savings account. A checking account you deposit your paycheck in and you can use it (take out money) whenever you want. :o) |
|
Josh L
 |
savings you deposit money and and let the money grow over a certain amount of time...Checking is for everyday transactions such as withdraw and deposit. |
|
Tim G
|
checking account you pay your bills online or by check to pay or withdraw
a savings is to save money for a rainy day |
|
Foxy Roxyy
 |
checking account is linked to your debit card, as well as your checks. savings account is a holding place for your money. |
|
Sweet Pea
 |
i work for a bank and each bank has different stipulations. my bank we have free checking with no interest, and then we have two other kinds of checking that offers interest with a min balance requirement. Savings account have higher interest rate and you can only do 6 transactions a month on a savings account (per the government and regulation D). Savings account for the most part require a min balance requirement also, but it's based on the bank. checking accounts you get a visa/mastercard debit card and checks if you want them. |
|
xxjillxo
|
savings account i think gives you interest each month but you dont get a debit card with it and if you get a savings card you can only take money out of the machine you cant use it at the cashier and you get fined if you take money out more then three times....checking you get the debit card and checks....i put half my check into savings and the rest in checking and only use checking to buy stuff |
|
What?
 |
A savings account is considered by the bank to be a more secure asset, allowing them to have more money on hand to work with therefore allowing them to pay you a higher rate of interest. While a checking account is a necessary convenience that is provided to give access to funds for commerce, not as secure, it is typically given a lesser interest rate. |
|
Drew P
|
checking: when you write checks or use a debit card the money comes from there.
savings: used to save money, high interest rate, used to SAVE money!!!!!!! |
|
Frankie the Rott
|
The money in your checking acct. you can write checks for and
the money in your savings acct. you can withdraw in cash or
transfer to checking acct. when you want |
|
thevman
|
Layman's Terms:
A checking account is an account where you can make transactions via check, check card/debit card, or online.
You can do the same thing with a savings account but typically savings accounts are for "saving" money and garnering interest. Many people do not draw heavily (if at all) from their savings accounts unless it is absolutely necessary.
Wikipedia:
Checking:A transactional account (North America: checking account or chequing account,[1] United Kingdom and some other countries: current account or cheque account) is a deposit account held at a bank or other financial institution, for the purpose of securely and quickly providing frequent access to funds on demand, through a variety of different channels. Because money is available on demand these accounts are also referred to as demand accounts or demand deposit accounts.
Transactional accounts are meant neither for the purpose of earning interest nor for the purpose of savings, but for convenience of the business or personal client; hence they tend not to bear interest. Instead, a customer can deposit or withdraw any amount of money any number of times, subject to availability of funds.
Savings: Savings accounts are accounts maintained by retail financial institutions that pay interest but can not be used directly as money (by, for example, writing a cheque). These accounts let customers set aside a portion of their liquid assets while earning a monetary return. |
|
Erica
|
A checking account is an account that you use to pay bills, write checks or use a debit card. On the other hand, a savings account is one where you put money into and try not to take any out. Over time a savings account builds interest. |
|
cknoce
|
A savings account you use to do just that...save. You can take cash out or put cash in anytime you want.
A checking account is more for paying bills/expenses. You will get a checkbook, and you can take money out or put money in.
Often, savings accounts earn interest on the money you have while checking accounts generally don't offer interest. If you look around, you can actually find checking accounts that pay interest, but the interest is lower than what you would get with a savings account.
Hope that helps. |
|
Brenda
|
Checking (or chequing) is for writing cheques against that account. People tend to use chequing accounts for paying bills.
A savings account one can not write cheques on and usually people do that ~ save ~ in those accounts. A place to put your extra cash that is not needed in paying bills.
The fees (banking fees) for running the accounts are different as well. usually no fees with the savings and you actually get a little interest on your money from the bank. Not much interest these days with the rates so very low.
Hope this helps. |
|
Ice Twinkle toes
|
Checking start with a C and saving start with an S |
|
ashley
|
one of the main differences with a checking account and a savings account are that with a savings account there are restrictions on how many times you can take funds out of your account. For example you may only be able to write 3 checks off the account and make a total of 6 withdrawls from the savings account per month. with a checking account there are not restrictions on how many times you can access your money. Also with a Savings account many times you have a minimum balance requirement. One other difference is that you can only get a debit card by having a checking account. You can link your savings account to the debit card to access those funds that way, but you first need to have a checking account. |
|
The General Electric
|
Checking accounts don't return interest and are highly liquid and freely accessible (you can withdraw funds as you choose).
Savings accounts pay interest but usually have some limitations about how many transactions you can do or they might have a minimum balance requirement. |
|
GREY'S ANATOMY LUVER!!!
|
Here are the definitions
Checking Account-A bank account in which checks may be written against amounts on deposit.
Savings Account-An account that draws interest at a bank.
Your Welcome!!! |
|
cowboy89
|
A savings account is a type of financial device used to earn interest (usually quite low--1% or so). A savings account is good for holding money aside that you do not need immediately, although you can withdraw it at any time; whereas a checking account is a type of financial device used to pay people, sometimes it has interest, but usually does not. Many people have a debit card, also called a checkcard connected to there checking account. If you have extra money to save I highly recommend opening a CD (Certificate of Deposit) Account. Your money will be locked up for a short while (anywhere from 91 days to 5 years or betinterestey offer a higher interest rate (3%-5%), most of which compound quarterly. |
|
Lola
 |
A checking account comes with checks and a lower interest rate on your money. |
|
SP7
|
The ability to write checks? |
|
Tsunami
|
come on be real. one is for saving other is for spending man how come you are so stupid. |
|
| |
|
Homepage 
Financial
Forum 
Personal Finance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
