Checking v. Saving accounts

What is a savings account?

• An interest-bearing deposit account held at the bank

• An account that does not pay interest on your account

• An account that you can put in as much as you want but limits the number of withdrawals.

• not this one :)

What is a checking account?

• A checking account is a deposit account at a financial institution that allows for withdrawals and deposits of cash

• An account that gives interest on the amount you put in.

• An account that gives you free money, depending on how much you put in it.

An interest-bearing deposit account held at the bank is a what account?

• Savings

• Checking

• Credit

• Salary

A checking account is a deposit account at a financial institution that allows for withdrawals and deposits of cash is a what account?

• checking

• savings

• salary

• credit

Reasons people choose saving accounts over checking accounts.

• Saving accounts are better for storing money

• saving accounts have no interest

• Saving accounts are not used for everyday purchases

• Saving accounts typically offer more higher interest rates

Reasons people choose checking accounts over savings accounts.

• Checking accounts are better for regular transactions such as purchases, bill payments, and ATM withdrawals.

• Checking accounts have no interest.

• Checking accounts can have no monthly maintenance.

• Checking accounts can charge you monthly fees.