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Veronika [31]
2 years ago
6

Why is a savings account better than a checking account for saving money? Read More >>

Business
2 answers:
kotegsom [21]2 years ago
6 0

Answer:

A checking account is a type of bank deposit account that is designed for everyday money transactions. ... Savings accounts have higher interest rates than checking accounts, meaning it is better to let large sums of money (e.g., an emergency fund) sit in savings instead of checking.

Explanation:

Checking accounts are better for everyday transactions such as purchases, bill payments and ATM withdrawals. ... Savings accounts are better for storing money and earning interest, and because of that, you might have a monthly limit on what you can withdraw without paying a fee.

inessss [21]2 years ago
5 0

Answer:

So it is harder for you to spend the money.

Explanation:

If you had a checking account it will be easier to spend it. But if you had a Savings account you will not have a card you will actually have to go to the bank to spend the money.

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Opening a checking account might seem like a simple task. You just walk into a bank near your home or office, fill out an application, hand over a deposit and you're all set, right?


Not quite.


<span>While it is often that easy to open an account, it's not always that easy to choose a checking account. That's because banks, credit unions and other financial companies offer a wide range of checking accounts with different features and fees. Unless your banking needs are unusually basic, you should do some research and shop around for an account that's right for you.</span>

 

I am hoping that this answer has satisfied your query and it will be able to help you in your endeavor, and if you would like, feel free to ask another question.

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