A checking account is a deposit account held at a financial institution that allows withdrawals and deposits.Also called demand accounts or transactional accounts, checking accounts are very ...
Checking account definition is - a bank account against which the depositor can draw checks. a bank account against which the depositor can draw checks; a bank account from which you can take money by writing checks…
A checking account is a bank account that allows easy access to your money. Also called a transactional account , it’s the account that you will use to pay your bills and make most of your financial transactions.
Definition of checking account: a bank account which pays little or no interest, but from which the customer can withdraw money when he or she wants by writing checks. Also called cheque account Dictionary Term of the Day Articles Subjects
A savings account is a deposit account held at a bank or other financial institution that provides principal security and a modest interest rate. ... Savings accounts differ from checking accounts ...
Definition of a Checking Account. Strictly speaking, the only thing that defines a checking account is the ability to write checks. However, modern checking accounts include debit cards you can use to withdraw money at an ATM or swipe to make direct purchases, just like a credit card.
Checking account definition, a bank deposit against which checks can be drawn by the depositor. See more.
An account which allows the holder to write checks against deposited funds. Checking accounts which pay interest are sometimes referred to as negotiable order of withdrawal (NOW) accounts. The interest rate often depends on how large the balance in the account is, and most charge a monthly service fee if the account balance falls below a preset ...
Checking account. Checking accounts are transaction accounts that allow you to authorize the transfer money to another person or organization either by writing a check that includes the words "Pay to the order of" or by making an electronic transfer.
A checking account is a type of bank account that provides customers with easy access to their money. Unlike a savings account, a checking account allows a high number of withdrawals without penalty. Because of this, it’s usually considered a good option for everyday spending.