What is a checking account in a bank?
CHECKING ACCOUNT
A checking account is a bank account that allows you to deposit and withdraw money for everyday expenses.
What is a checking account ?
A checking account is a bank account where the money is kept and can be withdrawn with ease. This type of account is often utilized for day-to-day activities such as cashing, shopping, and bill payments and ATM transactions. Clients with a checking account usually are provided with a debit card along with some checks enabling them to have fast access to their funds.
Checking accounts generally do not offer interest, or if they do it is at a much lower rate than savings accounts. Unlike savings accounts, checking accounts usually have online banking with which one can get access to a wide range of services. It works like any other account, only this one helps in centralizing expenses for those who have the need to limit their finances.
Business checking account
A business account helps them manage day-to-day finances such as accepting payments, paying vendors and managing payroll
Current accounts
A bank current account is basically a bank account for managing cash flow. This account has a maximum transaction limit and is mainly used for business purposes.
Joint accounts
Joint Account A bank account shared by 2 or more people is a good way to manage it jointly for a family or business