Bank Checking Account
Checking accounts are bank accounts designed for people who wish to use checks in place of cash as the main instrument for manipulating money. A checking account can be used for withdrawing money, making purchases, paying bills, or giving money to anyone you want. With a checking account you can also transfer funds to bank accounts at different financial institutions. The terms of a checking account usually vary from one bank to another yet in most cases a checking account holder can make cash withdrawals using ATM cards or electronic debit cards. In the US there is restriction regarding interest payments on checking accounts. This is probably the most efficient way to meet such routine debts as utility bills, credit card bills or mortgage payments. Virtually every financial institution provides customers with some type of checking account service.
Here's a list below of several forms of checking accounts offered by most banks:
Regular Checking Account - for customers who use their checking accounts to pay bills and day-to-day expenses.
Interest-bearing Checking Account - for customers who can maintain high minimum balances and wish to earn interest on their funds.
Joint Checking Account - An account that has more than one holder
Express Checking Account - An account designed for young customers
No Frills Checking - An account that allows for only a limited number of withdrawals, deposits and checks to be processed per month. Transaction fees are very low.
