The great transaction account!
One of the many ways to access a checking account.
Checking accounts can either earn interest or have no interest.
Checking accounts are considered the most liquid savings tool.
Checking accounts can either be interest or non-interest. If the account does earn interest, the interest rate is usually the lowest compared to any of the other saving tool's interest.
A checking account is considered the most liquid than any of the other savings tools. This is because it is very easy to convert one's checking into cash. One's account can be easily accessed through a check, an automated teller machine (ATM), a debit card, the telephone, or the Internet.
Although many of the checking account have the same requirements, some checking accounts have different requirements such as limited check writing, minimum balance, and charge transaction fees.