Checking Account


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Related to Checking Account: savings account

Checking Account

A deposit account held with a financial institution that allows for withdrawals through checks, automated teller machines, or debit cards. Typically pays no interest or lower interest rate as compared to Savings account

Checking Account

An account at a bank in which a customer deposits money for immediate use. For example, one may utilize a checking account for one's monthly expenses, such as a mortgage payment or groceries. Because most customers keep money in a checking account for a shorter period than in a savings account, a current account pays a slightly lower interest rate. Typically, one can write a check or use a debt card on a checking account, and banks expect customers to do so. The term "checking account" is more common in the United States. In the United Kingdom, the common term is "current account."

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.

Banks and credit unions provide transaction accounts, as do brokerage firms and other financial services companies that offer banking services.

Money in transaction accounts is insured by the Federal Deposit Insurance Corporation (FDIC) up to $100,000 per depositor in each banking institution. However, the FDIC doesn't insure money market mutual funds that offer check-writing privileges.

References in periodicals archive ?
Many people think the only way a thief can rip off their checking account is to steal their checks and forge their signature on them.
These fees are paid by only 25% of consumers who subsidize all other checking account holders.
With hundreds of banks and credit unions to choose from, and with dozens of savings accounts and checking accounts out there, it's important tocompare your options.
We had $850 removed from our checking account not long ago.
Bank checking account will receive free ATM transactions at all ATMs, including non-U.
There is also no minimum balance requirement, and complete online services that allow members and the families of those in the military checking account access around the clock.
Without convenient reload, prepaid cards have largely been disposable, which limits their ability to act as a full-service alternative to a checking account and the accompanying payment cards," said Frank D'Angelo, group president, Metavante Payment Solutions.
31 /PRNewswire/ -- With rumblings of a new online check-less checking account set to launch by Internationale Nederlanden Groep (ING) DIRECT within the next few weeks, Jacksonville, Fla.
The new WaMu Free Checking(TM) account offers all the features of WaMu's original Free Checking account plus: free ATM cash withdrawals, a free overdraft or insufficient funds fee waiver each year, free checks for life, cash back for debit card purchases, free outbound wires, free low-balance alerts with online banking, Free ID Theft Services -- and much more.
Customers will receive $100 when they open a new checking account with a Visa(R) Check Card; direct deposit of their payroll, pension, Social Security or another recurring payment; overdraft protection; and Comerica Web Bill Pay(R).
The new WaMu Free Checking(TM) account offers all the features of WaMu's original Free Checking account plus: free ATM cash withdrawals, a free overdraft or insufficient funds fee wavier each year, free checks for life, cash back for debit card purchases, free outbound wires, free low-balance alerts with online banking and more (see below for more account information).
EverBank's online-only interest-bearing checking account offers a minimum yield of 3.