What is a checking account?

A checking account is a great tool for managing your money day-to-day. Shop & compare to find the best checking account for you.

Instructional Text

What is a checking account, exactly? Image Description
A checking account is a type of bank account that allows you to put money in – make a deposit – or take money out – make a withdrawal. It also allows you to pay for things in other ways than using cash – like writing checks or using a debit card. Image Description
It’s really convenient! A checking account is a great way to manage your money for everyday spending – like buying groceries or paying for a hair cut. Both writing checks and using a debit card are safe and convenient ways to pay for things from your checking account. Plus, you can get your cash whenever you need it. Image Description
Each time you write a check or make a purchase with a debit card, you have a record of how much you spent, and where. That can help you pay closer attention to what you’re buying, how much you’re spending, and avoid spending more than you planned. Image Description
Having a checking account also makes it easy to deposit checks that others give you. Image Description
And having a checking account is a great way to avoid the high cost of check-cashing stores. Image Description
That’s for sure! And finally, remember, different financial institutions offer a variety of checking accounts with different features, benefits, and fees. Shop around for the checking account that best meets your needs. Image Description

Why Have a Checking Account?

• Keeps your money safe • Deposit/withdraw cash easily • Convenient bill pay/purchasing • Helps you track spending • No or low cost check-cashing
To learn about Automated Teller Machines (ATMs) and debit cards, see the lesson ATM and Debit Cards. Click the Next button to learn about checks.
What is a checking account What are checks? The parts of a check How to write a check How to endorse a check How to open a checking account