What are the difference bank account types?
10-05-2019
02:08 PM

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10-05-2019
02:08 PM
What are the difference bank account types?
Hello, I do not understand difference of "bank account type"
What is the difference between "savings" and "checking"?
Can you explain this?
I'm from EU
4 Replies 4
10-05-2019
04:48 PM

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10-05-2019
04:48 PM
I don't think it's relevant to us (in Europe) and I always tick 'checking' as I understand that to be a regular, current account.
10-05-2019
04:48 PM
10-05-2019
05:27 PM

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10-05-2019
05:27 PM
In the US, there are two types of bank account. Checking Account is a bank account which you can write checks to make a payment when you make a purchase. Savings Account normally does not provide checks which you can write to make a payment for your purchase. Savings Account bears higher interest rate than Checking Account. Checking Account bears little interest.
10-05-2019
05:27 PM
10-05-2019
05:31 PM

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10-05-2019
05:31 PM
Yup, that's pretty much the standard here.
Current account (with cheques) = just about sod-all interest.
Savings account (no cheques) = next to sod-all interest.
10-05-2019
05:32 PM

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10-05-2019
05:32 PM
Basically, a checking account has physical checks/cheques you can use to pay bills etc.
A savings accounts does not have checks/cheques, it was intended for saving money not spending it.
10-05-2019
05:32 PM

